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 8.93%/yr vs 12.01%/yr for MLPX. At a 0.28 correlation, their price movements are largely independent.
Performance
SAP vs. MLPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SAP achieves a -32.30% return, which is significantly lower than MLPX's 28.86% return. Over the past 10 years, SAP has underperformed MLPX with an annualized return of 8.93%, while MLPX has yielded a comparatively higher 12.01% annualized return.
SAP
- 1D
- 3.68%
- 1M
- -2.28%
- 6M
- -30.27%
- YTD
- -32.30%
- 1Y
- -46.26%
- 3Y*
- 5.03%
- 5Y*
- 3.43%
- 10Y*
- 8.93%
MLPX
- 1D
- 1.09%
- 1M
- 5.41%
- 6M
- 27.01%
- YTD
- 28.86%
- 1Y
- 31.01%
- 3Y*
- 28.56%
- 5Y*
- 23.50%
- 10Y*
- 12.01%
SAP vs. MLPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAP SAP SE | -32.30% | -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 | 28.86% | 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 | 0.13 |
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.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | -3.29 | ||
| Sortino ratioReturn per unit of downside risk | -4.71 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.33 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.81 | -4.72 |
| Martin ratioReturn relative to average drawdown | -1.49 | 8.97 | -10.46 |
Loading charts...
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.
Loading charts...
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 | -51.19% | -8.18% | -43.01% |
Max Drawdown (3Y)Largest decline over 3 years | -51.71% | -16.77% | -34.94% |
Max Drawdown (5Y)Largest decline over 5 years | -51.71% | -19.72% | -31.99% |
Max Drawdown (10Y)Largest decline over 10 years | -51.71% | -64.70% | +12.99% |
Current DrawdownCurrent decline from peak | -47.28% | -1.66% | -45.62% |
Average DrawdownAverage peak-to-trough decline | -28.30% | -16.52% | -11.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.12% | 3.46% | +27.66% |
Volatility
SAP vs. MLPX - Volatility Comparison
SAP SE (SAP) has a higher volatility of 11.72% compared to Global X MLP & Energy Infrastructure ETF (MLPX) at 5.80%. 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.
Loading charts...
Volatility by Period
| SAP | MLPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.72% | 5.80% | +5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 32.25% | 12.34% | +19.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.58% | 15.74% | +19.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 20.00% | +9.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.38% | 26.15% | +2.23% |
Dividends
SAP vs. MLPX - Dividend Comparison
SAP's dividend yield for the trailing twelve months is around 1.81%, less than MLPX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPX Global X MLP & Energy Infrastructure ETF | 3.98% | 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 | 1.81% | 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 (11.72%) compared to MLPX (5.80%). In terms of maximum drawdown, SAP dropped -87.91% vs MLPX's -70.67%.
MLPX currently has the higher Sharpe Ratio (1.98 vs -1.31), 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.
Find the right allocation for SAP and MLPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer