MLPXvsPIPEETF Comparison
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Global X MLP & Energy Infrastructure ETF (MLPX) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) belong to the same industry segment: Infrastructure. Both ETFs have the same top 3 sector exposures: and Energy. MLPX is less expensive with a Total Expense Ratio (TER) of 0.45%, versus 0.75% for PIPE. MLPX is up 30.15% year-to-date (YTD) with +$365M in YTD flows. PIPE performs better with 31.61% YTD performance, and +$1M in YTD flows. Run a side-by-side ETF comparison of MLPX and PIPE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MLPX vs PIPE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MLPX PIPE | +5.13%+4.66% | +8.66%+8.39% | +30.15%+31.61% | +32.18%+35.65% | +107.16%n/a | +182.57%n/a |
| Flows | MLPX PIPE | +$70M- | +$110M+$1M | +$365M+$1M | +$409M+$20M | +$1.51B- | +$1.59B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MLPX PIPE | +19.64%+18.68% | +15.38%+14.72% | +17.01%n/a | +19.77%n/a |
| Max drawdown | MLPX PIPE | -7.51%-6.97% | -8.32%-7.30% | -16.47%n/a | -19.62%n/a |
| Max drawdown duration | MLPX PIPE | 66d66d | 109d109d | 370dn/a | 427dn/a |
Trading data
MLPX | PIPE | |
Last sale 7/27/2026 at 1:30 PM | $74.79 | $30.14 |
| Previous close 07/24/2026 | $77.14 | $31.04 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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PIPE
is actively managed and doesn’t replicate an indexMLPX | PIPE | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
MLPX | PIPE | |
|---|---|---|
| Last price | $74.79 | $30.14 |
| 1D performance | -3.05% | -2.90% |
| AuM | $3.72 B | $66.63 M |
| E/R | 0.45% | 0.75% |
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Exposure
Countries
MLPX
USA
74.93%
Canada
22.59%
Other
2.48%
PIPE
USA
72.98%
Canada
27.02%
Other
0%
Sectors
MLPX
Energy
97.52%
Other
2.48%
PIPE
Energy
100%
Other
0%
Diversification
MLPX
Total weight of top 15 holdings out of 15
84.61%
PIPE
Total weight of top 15 holdings out of 15
75.88%
Top 15 holdings
Data as of June 30, 2026
MLPX
TC Energy Corp.
9.14%
Enbridge, Inc.
9.04%
The Williams Cos., Inc.
8.86%
Kinder Morgan, Inc.
7.88%
ONEOK, Inc.
6.96%
Targa Resources Corp.
6.72%
Cheniere Energy, Inc.
4.64%
MPLX LP
4.64%
DT Midstream, Inc.
4.43%
Pembina Pipeline Corp.
4.41%
Energy Transfer LP
4.29%
Enterprise Products Partners LP
4.29%
Western Midstream Partners LP
3.58%
Plains All American Pipeline LP
3.53%
Antero Midstream Corp.
2.20%
PIPE
Targa Resources Corp.
8.07%
The Williams Cos., Inc.
6.72%
TC Energy Corp.
6.24%
Plains GP Holdings LP
5.71%
Kodiak Gas Services, Inc.
5.48%
ONEOK, Inc.
4.81%
Pembina Pipeline Corp.
4.71%
Keyera Corp.
4.67%
Kinder Morgan, Inc.
4.64%
Enbridge, Inc.
4.58%
Energy Transfer LP
4.26%
Cheniere Energy, Inc.
4.26%
Enterprise Products Partners LP
4.07%
MPLX LP
3.87%
South Bow Corp.
3.80%
Frequently asked questions about MLPX and PIPE
How have the MLPX and PIPE ETFs performed in 2026?
As of July 24, 2026, MLPX is up 30.15% year-to-date (YTD), while PIPE has returned 31.61%. That puts PIPE better performer ahead so far this year.
Which ETF is attracting more investor money: MLPX or PIPE?
Year-to-date, the MLPX ETF saw +$365M in flows, compared to +$1M for PIPE.
Which ETF is more volatile: MLPX or PIPE?
Over the past year, MLPX had a volatility of 15.38%, while PIPE experienced 14.72%.
Which ETF is bigger: MLPX or PIPE?
As of July 24, 2026, MLPX holds $3.72 B in assets under management (AUM), while PIPE manages $66.63 M.
What sectors do the MLPX and PIPE ETFs invest in?
MLPX leans toward sectors like Energy. Meanwhile, PIPE focuses on Energy.
What are the top holdings of the MLPX ETF and PIPE ETF?
MLPX top holdings include TC Energy Corp., Enbridge, Inc. and The Williams Cos., Inc.. PIPE holds in its top three: Targa Resources Corp., The Williams Cos., Inc. and TC Energy Corp..
Which ETF is more diversified: MLPX or PIPE?
MLPX holds 28 securities with 84.61% of its assets in the top 15. PIPE has 25 securities and a top 15 weight of 75.88%.
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Latest news about MLPX & PIPE
Notable ETF Filings and Launches Recap: February 2025
March 4, 2025
PIPE
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