SHOP vs. MLPX
SHOP (Shopify Inc.) 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, SHOP returned 44.35%/yr vs 12.30%/yr for MLPX. At a 0.21 correlation, their price movements are largely independent.
Performance
SHOP vs. MLPX - Performance Comparison
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Returns By Period
In the year-to-date period, SHOP achieves a -29.07% return, which is significantly lower than MLPX's 23.61% return. Over the past 10 years, SHOP has outperformed MLPX with an annualized return of 44.35%, while MLPX has yielded a comparatively lower 12.30% annualized return.
SHOP
- 1D
- 6.03%
- 1M
- 10.84%
- YTD
- -29.07%
- 6M
- -32.62%
- 1Y
- -0.22%
- 3Y*
- 21.41%
- 5Y*
- -4.97%
- 10Y*
- 44.35%
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%
SHOP vs. MLPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -29.07% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
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 SHOP and MLPX is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | 0.21 |
The correlation between SHOP and MLPX shifts across timeframes, from -0.14 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHOP vs. MLPX — Risk / Return Rank
SHOP
MLPX
SHOP vs. MLPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) 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.
| SHOP | MLPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.27 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 2.92 | -2.92 |
| Martin ratioReturn relative to average drawdown | -0.01 | 6.98 | -6.99 |
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Drawdowns
SHOP vs. MLPX - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, which is greater than MLPX's maximum drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for SHOP and MLPX.
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Drawdown Indicators
| SHOP | MLPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -70.67% | -14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -8.18% | -38.53% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -16.77% | -29.94% |
Max Drawdown (5Y)Largest decline over 5 years | -84.82% | -19.72% | -65.10% |
Max Drawdown (10Y)Largest decline over 10 years | -84.82% | -64.70% | -20.12% |
Current DrawdownCurrent decline from peak | -36.22% | -5.67% | -30.55% |
Average DrawdownAverage peak-to-trough decline | -28.25% | -16.58% | -11.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.17% | 3.42% | +19.75% |
Volatility
SHOP vs. MLPX - Volatility Comparison
Shopify Inc. (SHOP) has a higher volatility of 16.61% compared to Global X MLP & Energy Infrastructure ETF (MLPX) at 5.79%. This indicates that SHOP'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
| SHOP | MLPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.61% | 5.79% | +10.82% |
Volatility (6M)Calculated over the trailing 6-month period | 43.94% | 11.89% | +32.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.19% | 15.42% | +41.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.60% | 20.00% | +45.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.07% | 26.47% | +32.60% |
Dividends
SHOP vs. MLPX - Dividend Comparison
SHOP has not paid dividends to shareholders, while MLPX's dividend yield for the trailing twelve months is around 4.15%.
| 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% |
SHOP Shopify Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHOP and MLPX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (16.61%) compared to MLPX (5.79%). In terms of maximum drawdown, SHOP dropped -84.82% vs MLPX's -70.67%.
MLPX currently has the higher Sharpe Ratio (1.55 vs -0.00), 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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