PYPE vs. MLPR
Compare and contrast key facts about ETRACS NYSE Pickens Core Midstream Index ETN (PYPE) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR).
PYPE and MLPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PYPE is a passively managed fund by UBS that tracks the performance of the NYSE Pickens Core Midstream Index. It was launched on Aug 20, 2018. MLPR is a passively managed fund by UBS that tracks the performance of the Alerian MLP Index (150%). It was launched on Jun 2, 2020. Both PYPE and MLPR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PYPE or MLPR.
Key characteristics
| PYPE | MLPR |
|---|
Correlation
The correlation between PYPE and MLPR is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PYPE vs. MLPR - Performance Comparison
The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PYPE vs. MLPR - Expense Ratio Comparison
PYPE has a 0.85% expense ratio, which is lower than MLPR's 0.95% expense ratio.
Risk-Adjusted Performance
PYPE vs. MLPR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS NYSE Pickens Core Midstream Index ETN (PYPE) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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.
Dividends
PYPE vs. MLPR - Dividend Comparison
PYPE has not paid dividends to shareholders, while MLPR's dividend yield for the trailing twelve months is around 10.12%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
PYPE ETRACS NYSE Pickens Core Midstream Index ETN | 0.00% | 3.23% | 6.23% | 7.51% | 11.13% | 7.77% | 0.07% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 10.12% | 10.08% | 10.07% | 10.69% | 4.21% | 0.00% | 0.00% |
Drawdowns
PYPE vs. MLPR - Drawdown Comparison
Volatility
PYPE vs. MLPR - Volatility Comparison
The current volatility for ETRACS NYSE Pickens Core Midstream Index ETN (PYPE) is 0.00%, while ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a volatility of 7.95%. This indicates that PYPE experiences smaller price fluctuations and is considered to be less risky than MLPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.