SAP vs. MLPX
SAP (SAP SE) is a stock, while MLPX (Global X MLP & Energy Infrastructure ETF) is MLPs fund tracking the Solactive MLP & Energy Infrastructure Index. Over the past 10 years, SAP returned 9.11%/yr vs 12.30%/yr for MLPX. At a 0.28 correlation, their price movements are largely independent.
Performance
SAP vs. MLPX - Performance Comparison
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Returns By Period
In the year-to-date period, SAP achieves a -36.02% return, which is significantly lower than MLPX's 23.61% return. Over the past 10 years, SAP has underperformed MLPX with an annualized return of 9.11%, while MLPX has yielded a comparatively higher 12.30% annualized return.
SAP
- 1D
- -0.41%
- 1M
- -13.19%
- YTD
- -36.02%
- 6M
- -36.72%
- 1Y
- -47.69%
- 3Y*
- 5.95%
- 5Y*
- 3.30%
- 10Y*
- 9.11%
MLPX
- 1D
- -1.39%
- 1M
- -5.31%
- YTD
- 23.61%
- 6M
- 23.85%
- 1Y
- 23.77%
- 3Y*
- 28.96%
- 5Y*
- 20.92%
- 10Y*
- 12.30%
SAP vs. MLPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAP SAP SE | -36.02% | -0.48% | 61.27% | 52.30% | -24.64% | 9.22% | -1.28% | 36.43% | -10.04% | 31.25% |
MLPX Global X MLP & Energy Infrastructure ETF | 23.61% | 4.96% | 42.90% | 15.77% | 21.54% | 39.63% | -20.32% | 19.04% | -15.64% | -4.53% |
Correlation
The correlation between SAP and MLPX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013 | 0.28 |
The correlation between SAP and MLPX shifts across timeframes, from -0.02 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SAP vs. MLPX — Risk / Return Rank
SAP
MLPX
SAP vs. MLPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SAP SE (SAP) and Global X MLP & Energy Infrastructure ETF (MLPX). 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.
| SAP | MLPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -4.26 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.27 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.92 | -3.85 |
| Martin ratioReturn relative to average drawdown | -1.62 | 6.98 | -8.60 |
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Drawdowns
SAP vs. MLPX - Drawdown Comparison
The maximum SAP drawdown since its inception was -87.91%, which is greater than MLPX's maximum drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for SAP and MLPX.
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Drawdown Indicators
| SAP | MLPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.91% | -70.67% | -17.24% |
Max Drawdown (1Y)Largest decline over 1 year | -51.24% | -8.18% | -43.06% |
Max Drawdown (3Y)Largest decline over 3 years | -51.24% | -16.77% | -34.47% |
Max Drawdown (5Y)Largest decline over 5 years | -51.24% | -19.72% | -31.52% |
Max Drawdown (10Y)Largest decline over 10 years | -51.31% | -64.70% | +13.39% |
Current DrawdownCurrent decline from peak | -50.18% | -5.67% | -44.51% |
Average DrawdownAverage peak-to-trough decline | -28.26% | -16.58% | -11.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.43% | 3.42% | +26.01% |
Volatility
SAP vs. MLPX - Volatility Comparison
SAP SE (SAP) has a higher volatility of 14.55% compared to Global X MLP & Energy Infrastructure ETF (MLPX) at 5.79%. This indicates that SAP's price experiences larger fluctuations and is considered to be riskier than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAP | MLPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.55% | 5.79% | +8.76% |
Volatility (6M)Calculated over the trailing 6-month period | 31.18% | 11.89% | +19.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.67% | 15.42% | +19.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.89% | 20.00% | +8.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.29% | 26.47% | +1.82% |
Dividends
SAP vs. MLPX - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.92%, less than MLPX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPX Global X MLP & Energy Infrastructure ETF | 4.15% | 4.88% | 4.30% | 5.22% | 5.23% | 5.98% | 8.32% | 5.78% | 5.77% | 4.36% | 5.50% | 4.81% |
SAP SAP SE | 1.92% | 1.05% | 0.97% | 1.41% | 2.05% | 1.56% | 1.31% | 1.27% | 1.73% | 0.87% | 1.08% | 1.11% |
Frequently Asked Questions
SAP and MLPX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAP has higher volatility (14.55%) compared to MLPX (5.79%). In terms of maximum drawdown, SAP dropped -87.91% vs MLPX's -70.67%.
MLPX currently has the higher Sharpe Ratio (1.55 vs -1.38), 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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