SMLD.DE vs. ATMP
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and ATMP (Barclays ETN+ Select MLP ETN) are both exchange-traded funds - SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite, while ATMP is a MLPs fund tracking the CIBC Atlas Select MLP VWAP. Both are passively managed. Over the past 10 years, SMLD.DE returned 15.33%/yr vs 4.60%/yr for ATMP. A 0.59 correlation means they provide meaningful diversification when combined. SMLD.DE charges 0.50%/yr vs 0.95%/yr for ATMP.
Performance
SMLD.DE vs. ATMP - Performance Comparison
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Different Trading Currencies
SMLD.DE is traded in EUR, while ATMP is traded in USD. To make them comparable, the ATMP values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly lower than ATMP's 23.08% return. Over the past 10 years, SMLD.DE has outperformed ATMP with an annualized return of 15.33%, while ATMP has yielded a comparatively lower 4.60% annualized return.
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
ATMP
- 1D
- 1.25%
- 1M
- -0.36%
- YTD
- 23.08%
- 6M
- 19.93%
- 1Y
- 19.47%
- 3Y*
- 18.49%
- 5Y*
- 17.27%
- 10Y*
- 4.60%
SMLD.DE vs. ATMP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | 24.27% | -4.73% | -12.47% |
ATMP Barclays ETN+ Select MLP ETN | 23.08% | -10.34% | 40.35% | 11.07% | 28.19% | 43.01% | -39.79% | 2.66% | -10.54% | -22.72% |
Correlation
The correlation between SMLD.DE and ATMP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 17, 2013 | 0.59 |
The correlation between SMLD.DE and ATMP has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.
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Return for Risk
SMLD.DE vs. ATMP — Risk / Return Rank
SMLD.DE
ATMP
SMLD.DE vs. ATMP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and Barclays ETN+ Select MLP ETN (ATMP). 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.
| SMLD.DE | ATMP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.10 | -1.18 |
| Martin ratioReturn relative to average drawdown | 1.91 | 4.51 | -2.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLD.DE | ATMP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 1.26 | -0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.77 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.16 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.12 | +0.17 |
Drawdowns
SMLD.DE vs. ATMP - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, smaller than the maximum ATMP drawdown of -79.78%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and ATMP.
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Drawdown Indicators
| SMLD.DE | ATMP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -79.78% | +6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -9.34% | -5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -22.88% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -22.88% | -0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | -76.23% | +5.44% |
Current DrawdownCurrent decline from peak | -3.47% | -4.82% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -29.94% | +12.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 4.39% | +2.77% |
Volatility
SMLD.DE vs. ATMP - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) is 5.38%, while Barclays ETN+ Select MLP ETN (ATMP) has a volatility of 6.90%. This indicates that SMLD.DE experiences smaller price fluctuations and is considered to be less risky than ATMP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLD.DE | ATMP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 6.90% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 11.87% | +0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 15.70% | +10.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 22.67% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 28.29% | +6.41% |
SMLD.DE vs. ATMP - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is lower than ATMP's 0.95% expense ratio.
Dividends
SMLD.DE vs. ATMP - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, while ATMP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATMP Barclays ETN+ Select MLP ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
SMLD.DE and ATMP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMLD.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLD.DE is cheaper with a 0.50% expense ratio, compared with 0.95% for ATMP.
SMLD.DE is categorized as Energy Equities, while ATMP is MLPs. SMLD.DE tracks Morningstar MLP Composite, while ATMP tracks CIBC Atlas Select MLP VWAP. They also come from different issuers: Invesco and Barclays Capital. Their fees differ too: 0.50% for SMLD.DE and 0.95% for ATMP.
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