SMLPX vs. VGENX
SMLPX (Salient MLP & Energy Infrastructure Fund) and VGENX (Vanguard Energy Opportunities Fund Investor Shares) are both Energy Equities funds. Over the past 10 years, SMLPX returned 9.63%/yr vs 9.08%/yr for VGENX. A 0.78 correlation means they provide meaningful diversification when combined. SMLPX charges 1.35%/yr vs 0.45%/yr for VGENX.
Performance
SMLPX vs. VGENX - Performance Comparison
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Returns By Period
In the year-to-date period, SMLPX achieves a 20.65% return, which is significantly higher than VGENX's 16.60% return. Over the past 10 years, SMLPX has outperformed VGENX with an annualized return of 9.63%, while VGENX has yielded a comparatively lower 9.08% annualized return.
SMLPX
- 1D
- 0.99%
- 1M
- -4.45%
- YTD
- 20.65%
- 6M
- 20.65%
- 1Y
- 24.20%
- 3Y*
- 25.45%
- 5Y*
- 16.88%
- 10Y*
- 9.63%
VGENX
- 1D
- 0.97%
- 1M
- -4.94%
- YTD
- 16.60%
- 6M
- 16.98%
- 1Y
- 25.71%
- 3Y*
- 26.91%
- 5Y*
- 21.66%
- 10Y*
- 9.08%
SMLPX vs. VGENX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLPX Salient MLP & Energy Infrastructure Fund | 20.65% | 5.22% | 37.87% | 14.06% | 14.69% | 22.69% | -17.25% | 16.36% | -18.10% | -6.80% |
VGENX Vanguard Energy Opportunities Fund Investor Shares | 16.60% | 20.67% | 30.25% | 8.78% | 23.59% | 27.71% | -30.85% | 13.23% | -17.19% | 3.22% |
Correlation
The correlation between SMLPX and VGENX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012 | 0.78 |
The correlation between SMLPX and VGENX has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
SMLPX vs. VGENX — Risk / Return Rank
SMLPX
VGENX
SMLPX vs. VGENX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Salient MLP & Energy Infrastructure Fund (SMLPX) and Vanguard Energy Opportunities Fund Investor Shares (VGENX). 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.
| SMLPX | VGENX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 3.21 | +0.31 |
| Martin ratioReturn relative to average drawdown | 8.39 | 12.31 | -3.92 |
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Drawdowns
SMLPX vs. VGENX - Drawdown Comparison
The maximum SMLPX drawdown since its inception was -73.06%, which is greater than VGENX's maximum drawdown of -65.37%. Use the drawdown chart below to compare losses from any high point for SMLPX and VGENX.
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Drawdown Indicators
| SMLPX | VGENX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.06% | -65.37% | -7.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.57% | -7.88% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -17.59% | -12.30% | -5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -21.32% | -19.72% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -60.49% | -61.19% | +0.70% |
Current DrawdownCurrent decline from peak | -4.52% | -6.99% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -27.05% | -14.92% | -12.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.05% | +0.70% |
Volatility
SMLPX vs. VGENX - Volatility Comparison
Salient MLP & Energy Infrastructure Fund (SMLPX) has a higher volatility of 4.99% compared to Vanguard Energy Opportunities Fund Investor Shares (VGENX) at 3.92%. This indicates that SMLPX's price experiences larger fluctuations and is considered to be riskier than VGENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLPX | VGENX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 3.92% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 10.30% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.07% | 12.32% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.93% | 18.68% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.14% | 23.17% | +0.97% |
SMLPX vs. VGENX - Expense Ratio Comparison
SMLPX has a 1.35% expense ratio, which is higher than VGENX's 0.45% expense ratio.
Dividends
SMLPX vs. VGENX - Dividend Comparison
SMLPX's dividend yield for the trailing twelve months is around 3.76%, less than VGENX's 7.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLPX Salient MLP & Energy Infrastructure Fund | 3.76% | 4.45% | 4.48% | 5.75% | 2.19% | 3.69% | 5.82% | 4.54% | 6.21% | 6.09% | 6.31% | 8.63% |
VGENX Vanguard Energy Opportunities Fund Investor Shares | 7.35% | 4.71% | 33.96% | 6.83% | 4.63% | 3.63% | 4.46% | 3.30% | 2.96% | 2.96% | 1.84% | 2.63% |
Frequently Asked Questions
SMLPX and VGENX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMLPX has higher volatility (4.99%) compared to VGENX (3.92%). In terms of maximum drawdown, SMLPX dropped -73.06% vs VGENX's -65.37%.
VGENX currently has the higher Sharpe Ratio (2.06 vs 1.65), 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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