SPMPX vs. MLOZX

Last updated Aug 5, 2026

SPMPX (Invesco SteelPath MLP Alpha Plus Fund Class R5) and MLOZX (Cohen & Steers MLP & Energy Opportunity Fund, Inc.) are both Energy Equities funds. Their correlation of 0.86 means they have usually moved in the same direction. SPMPX charges 7.73%/yr vs 0.90%/yr for MLOZX.

Performance

SPMPX vs. MLOZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco SteelPath MLP Alpha Plus Fund Class R5 (SPMPX) and Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMPX

• 1D: -0.77%
• 1M: 5.05%
• 6M: 20.14%
• YTD: 31.65%
• 1Y: 31.85%
• 3Y*: 30.40%
• 5Y*: 30.94%
• 10Y*: —
• ALL TIME*: 14.60%

MLOZX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPMPX Invesco SteelPath MLP Alpha Plus Fund Class R5	$0.00	$0.00	$0.00

SPMPX vs. MLOZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPMPX Invesco SteelPath MLP Alpha Plus Fund Class R5	31.65%	4.59%	47.63%	25.49%	38.13%	56.29%	-45.67%	-10.91%
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	32.43%	17.35%	12.16%	10.49%	21.10%	39.09%	-26.70%	-3.66%

Correlation

The correlation between SPMPX and MLOZX is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since May 24, 2019	0.86

Over the past year, the correlation between SPMPX and MLOZX has dropped to 0.53 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

SPMPX vs. MLOZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPMPX

SPMPX Risk / Return Rank: 75
SPMPX Sharpe Ratio Rank: 79
SPMPX Sortino Ratio Rank: 74
SPMPX Omega Ratio Rank: 64
SPMPX Calmar Ratio Rank: 92
SPMPX Martin Ratio Rank: 66

MLOZX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPMPX vs. MLOZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Plus Fund Class R5 (SPMPX) and Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX). 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.

	SPMPX	MLOZX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	—	—
Sortino ratio: Return per unit of downside risk	2.71	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	4.00	—	—
Martin ratio: Return relative to average drawdown	9.62	—	—

Drawdowns

Drawdown Indicators

	SPMPX	MLOZX	Difference
Max Drawdown Largest peak-to-trough decline	-81.60%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.12%	—	—
Current Drawdown Current decline from peak	-1.77%	—	—
Average Drawdown Average peak-to-trough decline	-16.63%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	—	—

Volatility

Volatility by Period

	SPMPX	MLOZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.64%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.43%	—	—

SPMPX vs. MLOZX - Expense Ratio Comparison

SPMPX has a 7.73% expense ratio, which is higher than MLOZX's 0.90% expense ratio.

Dividends

SPMPX vs. MLOZX - Dividend Comparison

SPMPX's dividend yield for the trailing twelve months is around 4.67%, more than MLOZX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	1.45%	1.71%	10.24%	4.61%	3.66%	3.08%	6.57%	6.21%	4.44%	3.86%	3.72%	6.05%
SPMPX Invesco SteelPath MLP Alpha Plus Fund Class R5	4.67%	5.55%	4.32%	5.81%	6.70%	9.04%	22.32%	8.34%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPMPX and MLOZX in my portfolio?

SPMPX and MLOZX 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.