WEEI vs. MLPZX

Last updated Jun 24, 2026

WEEI (Westwood Salient Enhanced Energy Income ETF) and MLPZX (Invesco SteelPath MLP Income Fund) are both Energy Equities funds. Over the past year, WEEI returned 22.30% vs 20.63% for MLPZX. A 0.64 correlation means they provide meaningful diversification when combined. WEEI charges 0.85%/yr vs 1.10%/yr for MLPZX.

Performance

WEEI vs. MLPZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Salient Enhanced Energy Income ETF (WEEI) and Invesco SteelPath MLP Income Fund (MLPZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEEI achieves a 12.67% return, which is significantly lower than MLPZX's 16.82% return.

WEEI

• 1D: 0.75%
• 1M: -6.17%
• YTD: 12.67%
• 6M: 13.31%
• 1Y: 22.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPZX

• 1D: 0.27%
• 1M: -6.25%
• YTD: 16.82%
• 6M: 16.46%
• 1Y: 20.63%
• 3Y*: 21.80%
• 5Y*: 18.22%
• 10Y*: 9.61%

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

WEEI vs. MLPZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WEEI Westwood Salient Enhanced Energy Income ETF	12.67%	11.28%	-3.19%
MLPZX Invesco SteelPath MLP Income Fund	16.82%	7.88%	10.80%

Correlation

The correlation between WEEI and MLPZX is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since May 1, 2024	0.64

The correlation between WEEI and MLPZX has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.

Return for Risk

WEEI vs. MLPZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WEEI

WEEI Risk / Return Rank: 47
WEEI Sharpe Ratio Rank: 48
WEEI Sortino Ratio Rank: 43
WEEI Omega Ratio Rank: 43
WEEI Calmar Ratio Rank: 51
WEEI Martin Ratio Rank: 51

MLPZX

MLPZX Risk / Return Rank: 43
MLPZX Sharpe Ratio Rank: 40
MLPZX Sortino Ratio Rank: 39
MLPZX Omega Ratio Rank: 35
MLPZX Calmar Ratio Rank: 57
MLPZX Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WEEI vs. MLPZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Energy Income ETF (WEEI) and Invesco SteelPath MLP Income Fund (MLPZX). 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.

	WEEI	MLPZX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.72	-0.15
Sortino ratio: Return per unit of downside risk	2.06	2.42	-0.36
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.37	2.78	-0.41
Martin ratio: Return relative to average drawdown	8.14	8.90	-0.76

WEEI vs. MLPZX - Sharpe Ratio Comparison

The current WEEI Sharpe Ratio is 1.56, which is comparable to the MLPZX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of WEEI and MLPZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WEEI vs. MLPZX - Drawdown Comparison

The maximum WEEI drawdown since its inception was -18.78%, smaller than the maximum MLPZX drawdown of -77.56%. Use the drawdown chart below to compare losses from any high point for WEEI and MLPZX.

Drawdown Indicators

	WEEI	MLPZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.78%	-77.56%	+58.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-7.23%	-2.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.62%	—
Current Drawdown Current decline from peak	-7.81%	-6.84%	-0.97%
Average Drawdown Average peak-to-trough decline	-4.20%	-13.50%	+9.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.25%	+0.50%

Volatility

WEEI vs. MLPZX - Volatility Comparison

Westwood Salient Enhanced Energy Income ETF (WEEI) has a higher volatility of 5.77% compared to Invesco SteelPath MLP Income Fund (MLPZX) at 4.22%. This indicates that WEEI's price experiences larger fluctuations and is considered to be riskier than MLPZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEEI	MLPZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	4.22%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	8.85%	+2.32%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	11.71%	+2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	17.20%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	25.85%	-7.49%

WEEI vs. MLPZX - Expense Ratio Comparison

WEEI has a 0.85% expense ratio, which is lower than MLPZX's 1.10% expense ratio.

Dividends

WEEI vs. MLPZX - Dividend Comparison

WEEI's dividend yield for the trailing twelve months is around 11.84%, more than MLPZX's 6.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPZX Invesco SteelPath MLP Income Fund	6.25%	6.87%	5.92%	7.19%	7.98%	9.19%	16.57%	13.12%	13.27%	10.70%	9.79%	10.93%
WEEI Westwood Salient Enhanced Energy Income ETF	11.84%	12.59%	7.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WEEI and MLPZX in my portfolio?

WEEI and MLPZX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEEI or MLPZX?

WEEI has higher volatility (5.77%) compared to MLPZX (4.22%). In terms of maximum drawdown, WEEI dropped -18.78% vs MLPZX's -77.56%.

Which has better risk-adjusted returns?

MLPZX currently has the higher Sharpe Ratio (1.72 vs 1.56), 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.