SMLP.DE vs. WELP.DE
SMLP.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc) and WELP.DE (HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF) are both Energy Equities funds - SMLP.DE tracks the Morningstar MLP Composite while WELP.DE tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, SMLP.DE returned 15.69%/yr vs 14.42%/yr for WELP.DE. A 0.73 correlation means they provide meaningful diversification when combined. SMLP.DE charges 0.50%/yr vs 0.59%/yr for WELP.DE.
Performance
SMLP.DE vs. WELP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLP.DE achieves a 21.07% return, which is significantly lower than WELP.DE's 34.22% return.
SMLP.DE
- 1D
- -0.67%
- 1M
- 0.55%
- YTD
- 21.07%
- 6M
- 14.97%
- 1Y
- 13.65%
- 3Y*
- 15.69%
- 5Y*
- 18.35%
- 10Y*
- 6.71%
WELP.DE
- 1D
- -0.43%
- 1M
- -0.84%
- YTD
- 34.22%
- 6M
- 30.47%
- 1Y
- 42.64%
- 3Y*
- 14.42%
- 5Y*
- —
- 10Y*
- —
SMLP.DE vs. WELP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMLP.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc | 21.07% | -9.11% | 28.88% | 15.48% | -6.46% |
WELP.DE HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF | 34.22% | -1.54% | 7.90% | 0.25% | 6.11% |
Correlation
The correlation between SMLP.DE and WELP.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.73 |
The correlation between SMLP.DE and WELP.DE has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.
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Return for Risk
SMLP.DE vs. WELP.DE — Risk / Return Rank
SMLP.DE
WELP.DE
SMLP.DE vs. WELP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) and HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (WELP.DE). 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.
| SMLP.DE | WELP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.38 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 3.47 | -2.06 |
| Martin ratioReturn relative to average drawdown | 3.20 | 11.93 | -8.73 |
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
| SMLP.DE | WELP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 2.21 | -1.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.61 | -0.52 |
Drawdowns
SMLP.DE vs. WELP.DE - Drawdown Comparison
The maximum SMLP.DE drawdown since its inception was -79.34%, which is greater than WELP.DE's maximum drawdown of -23.55%. Use the drawdown chart below to compare losses from any high point for SMLP.DE and WELP.DE.
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Drawdown Indicators
| SMLP.DE | WELP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.34% | -23.55% | -55.79% |
Max Drawdown (1Y)Largest decline over 1 year | -9.62% | -12.22% | +2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -22.58% | -23.55% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | — | — |
Current DrawdownCurrent decline from peak | -3.45% | -4.77% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -25.61% | -7.88% | -17.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.25% | 3.56% | +0.69% |
Volatility
SMLP.DE vs. WELP.DE - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc (SMLP.DE) is 5.21%, while HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (WELP.DE) has a volatility of 6.37%. This indicates that SMLP.DE experiences smaller price fluctuations and is considered to be less risky than WELP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLP.DE | WELP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 6.37% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 12.78% | 16.27% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.31% | 19.25% | -2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.44% | 19.61% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.59% | 19.61% | +8.98% |
SMLP.DE vs. WELP.DE - Expense Ratio Comparison
SMLP.DE has a 0.50% expense ratio, which is lower than WELP.DE's 0.59% expense ratio.
Dividends
SMLP.DE vs. WELP.DE - Dividend Comparison
SMLP.DE has not paid dividends to shareholders, while WELP.DE's dividend yield for the trailing twelve months is around 2.85%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SMLP.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% |
WELP.DE HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF | 2.85% | 3.78% | 3.64% | 0.79% |
Frequently Asked Questions
SMLP.DE and WELP.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMLP.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLP.DE is cheaper with a 0.50% expense ratio, compared with 0.59% for WELP.DE.
SMLP.DE tracks Morningstar MLP Composite, while WELP.DE tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.50% for SMLP.DE and 0.59% for WELP.DE.
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