AMLP vs EMO
Alerian MLP ETF vs ClearBridge Energy Midstream Opportunity Fund Inc.
Which is better, AMLP or EMO?
Nearly the same fund. AMLP costs less.
AMLP has a lower expense ratio. AMLP led over the full window, EMO over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.96. EMO is less concentrated, with 72.4% of the fund in its ten largest positions against 91.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AMLP | EMO |
|---|---|---|
| Expense Ratio | 0.85%Best | 3.37% |
| AUM | $12.7B | $1.2B |
| Dividend Yield | 7.83% | 7.97% |
| Holdings | 15 | 23 |
| YTD Return | +15.97% | +17.67%Best |
| 1Y Return | +22.53% | +26.01%Best |
| 3Y Return (annualized) | +15.61% | +25.41%Best |
| 5Y Return (annualized) | +16.26% | +24.41%Best |
| Volatility (annualized) | 25.9%Best | 41.6% |
| Max Drawdown | -85.4%Best | -97.2% |
| $10,000 over 5 years | $21,240 | $29,804Best |
| Top 10 Weight | 91.2% | 72.4%Best |
| Fund Family | ALPS Advisors | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Mid Cap Value |
| Inception | Aug 25, 2010 | Jun 13, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Jun 10, 2011 to Oct 15, 2026 (15.3 years).
AMLP vs EMO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 15.3 years both funds cover.
AMLP vs EMO Performance
Alerian MLP ETF (AMLP) is an ETF from ALPS Advisors and ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) is an ETF from Franklin Templeton Investments (US). Over the past year AMLP returned +22.53% while EMO returned +26.01%. Year to date, AMLP is up 15.97% versus a gain of 17.67% for EMO.
Over three years, AMLP compounded at +15.61% per year against +25.41% for EMO; over five years the annualized figures are +16.26% and +24.41% respectively. Across the full 15-year window we track, AMLP has the edge at +0.26% annualized vs -1.61%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMO has been the more volatile fund, with annualized monthly volatility of 41.6% compared with 25.9% for AMLP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -85.4% for AMLP and -97.2% for EMO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AMLP charges 0.85% per year while EMO charges 3.37%. On a $10,000 position that is $85 vs $337 annually, a gap of $252 per year that compounds over a long holding period. On income, AMLP currently yields 7.83% against 7.97% for EMO.
Holdings Overlap
89.6% of AMLP's money is in holdings EMO also owns. 51.0% of EMO's money is in holdings AMLP also owns.
Most of AMLP is already inside EMO. Owning both mostly buys the same companies twice.
12 positions in common, counted across the 20 positions we hold weights for in AMLP and 22 in EMO, against full books of 15 and 23.
What only one of them owns
Our book lists 7 positions for EMO that do not appear in our book for AMLP (40.8% of the fund), and 4 for AMLP that do not appear in EMO (10.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AMLP | Weight in EMO | Difference |
|---|---|---|---|
| ETEnergy Transfer | 12.17% | 9.73% | 2.44% |
| MPLXMplx Lp | 12.35% | 7.17% | 5.18% |
| WESWestern Midstream Partners Lp | 12.20% | 7.25% | 4.95% |
| EPDEnterprise Products Partners Lp | 12.12% | 6.08% | 6.04% |
| PAAPlains All American Pipeline, L.p., Series B | 12.10% | 4.26% | 7.84% |
| SUNCSunococorp Llc Common Stock | 12.18% | 2.47% | 9.71% |
| HESMHess Midstream Partners Lp | 7.19% | 0.88% | 6.31% |
| CQPCheniere Energy Partners Lp | 4.34% | 2.97% | 1.37% |
| GELGenesis Energy Lp | 2.64% | 2.94% | 0.30% |
| DKLDelek Logistics Partners, Lp | 2.27% | 2.51% | 0.24% |
89.6% of AMLP is already inside EMO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AMLP or EMO?
AMLP has an expense ratio of 0.85% while EMO charges 3.37%. AMLP is the cheaper option, by $252 a year on a $10,000 investment.
Which performed better, AMLP or EMO?
Over the past year AMLP returned +22.53% vs +26.01% for EMO, so EMO leads on 1-year performance. Over the longest common window we track (15 years), AMLP annualized +0.26% vs -1.61% for EMO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AMLP or EMO?
EMO has been the more volatile fund at 41.6% annualized versus 25.9% for AMLP. Worst drawdown: AMLP -85.4% vs EMO -97.2%.
Should I hold both AMLP and EMO?
AMLP and EMO have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AMLP and EMO?
89.6% of AMLP's money is in holdings EMO also owns. 51.0% of EMO's is in holdings AMLP also owns. They hold 12 positions in common, counted across the 20 positions we hold weights for in AMLP and 22 in EMO.
Which pays a higher dividend, AMLP or EMO?
AMLP yields 7.83% while EMO yields 7.97%, so EMO currently pays the higher dividend yield.
Is EMO better than AMLP?
AMLP has a lower expense ratio. AMLP led over the full window, EMO over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.96. EMO is less concentrated, with 72.4% of the fund in its ten largest positions against 91.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.