POWR vs. MLPB
POWR (iShares U.S. Power Infrastructure ETF) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both Infrastructure Equities funds - POWR tracks the S&P U.S. Power Infrastructure Select Index while MLPB tracks the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, POWR returned 8.36%/yr vs 8.89%/yr for MLPB. Their 0.53 correlation means they have sometimes moved together and sometimes differently. POWR charges 0.40%/yr vs 0.85%/yr for MLPB.
Performance
POWR vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, POWR achieves a 12.12% return, which is significantly lower than MLPB's 26.62% return. Over the past 10 years, POWR has underperformed MLPB with an annualized return of 8.36%, while MLPB has yielded a comparatively higher 8.89% annualized return.
POWR
- 1D
- 0.77%
- 1M
- -3.78%
- 6M
- 6.76%
- YTD
- 12.12%
- 1Y
- 16.38%
- 3Y*
- 7.49%
- 5Y*
- 15.95%
- 10Y*
- 8.36%
- ALL TIME*
- 4.05%
MLPB
- 1D
- 1.16%
- 1M
- 7.18%
- 6M
- 17.75%
- YTD
- 26.62%
- 1Y
- 25.65%
- 3Y*
- 21.81%
- 5Y*
- 22.18%
- 10Y*
- 8.89%
- ALL TIME*
- 7.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $90.23K | $111.55K | $133.00K | |
| $5.98M | $6.98M | $7.47M |
POWR vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
POWR iShares U.S. Power Infrastructure ETF | 12.12% | 10.81% | -1.30% | 3.66% | 42.54% | 42.03% | -28.30% | 8.44% | -11.74% | 9.69% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 26.62% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -8.79% | -9.71% |
Correlation
The correlation between POWR and MLPB is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.53 |
Over the past year, the correlation between POWR and MLPB has dropped to 0.19 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
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Return for Risk
POWR vs. MLPB — Risk / Return Rank
POWR
MLPB
POWR vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Power Infrastructure ETF (POWR) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| POWR | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.29 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 2.56 | -1.02 |
| Martin ratioReturn relative to average drawdown | 5.38 | 6.82 | -1.44 |
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Drawdowns
POWR vs. MLPB - Drawdown Comparison
The maximum POWR drawdown since its inception was -65.98%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for POWR and MLPB.
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Drawdown Indicators
| POWR | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.98% | -71.93% | +5.95% |
Max Drawdown (1Y)Largest decline over 1 year | -9.77% | -9.28% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -16.49% | -6.65% |
Max Drawdown (5Y)Largest decline over 5 years | -25.09% | -20.41% | -4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -63.42% | -71.93% | +8.51% |
Current DrawdownCurrent decline from peak | -6.78% | 0.00% | -6.78% |
Average DrawdownAverage peak-to-trough decline | -17.99% | -14.67% | -3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.72% | -0.93% |
Volatility
POWR vs. MLPB - Volatility Comparison
iShares U.S. Power Infrastructure ETF (POWR) has a higher volatility of 5.12% compared to ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) at 4.65%. This indicates that POWR's price experiences larger fluctuations and is considered to be riskier than MLPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| POWR | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 4.65% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 13.54% | 11.14% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.26% | 14.17% | +3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.93% | 19.62% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.50% | 27.20% | -1.70% |
POWR vs. MLPB - Expense Ratio Comparison
POWR has a 0.40% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
POWR vs. MLPB - Dividend Comparison
POWR's dividend yield for the trailing twelve months is around 5.75%, which matches MLPB's 5.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.70% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% | 0.00% |
POWR iShares U.S. Power Infrastructure ETF | 5.75% | 7.56% | 4.36% | 4.16% | 4.82% | 3.94% | 3.96% | 5.71% | 3.17% | 3.11% | 2.75% | 3.42% |
Frequently Asked Questions
POWR and MLPB have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
POWR has higher volatility (5.12%) compared to MLPB (4.65%). In terms of maximum drawdown, POWR dropped -65.98% vs MLPB's -71.93%.
On 10-year performance, MLPB leads with 8.89% vs 8.36% for POWR. On fees, POWR is cheaper at 0.40% per year. On volatility, MLPB has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MLPB has performed better with a 8.89% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
POWR is cheaper with a 0.40% expense ratio, compared with 0.85% for MLPB.
POWR has the higher dividend yield at 5.75%, compared with 5.70% for MLPB.
POWR tracks S&P U.S. Power Infrastructure Select Index, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.40% for POWR and 0.85% for MLPB.
MLPB currently has the higher Sharpe Ratio (1.67 vs 0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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