PIPEvsMLPXETF Comparison
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Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) and Global X MLP & Energy Infrastructure ETF (MLPX) belong to the same industry segment: Infrastructure. Both ETFs have the same top 3 sector exposures: and Energy. PIPE is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.45% for MLPX. PIPE is up 31.61% year-to-date (YTD) with +$1M in YTD flows. MLPX performs worse with 30.15% YTD performance, and +$365M in YTD flows. Run a side-by-side ETF comparison of PIPE and MLPX 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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PIPE vs MLPX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIPE MLPX | +4.66%+5.13% | +8.39%+8.66% | +31.61%+30.15% | +35.65%+32.18% | n/a+107.16% | n/a+182.57% |
| Flows | PIPE MLPX | -+$70M | +$1M+$110M | +$1M+$365M | +$20M+$409M | -+$1.51B | -+$1.59B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIPE MLPX | +18.68%+19.64% | +14.72%+15.38% | n/a+17.01% | n/a+19.77% |
| Max drawdown | PIPE MLPX | -6.97%-7.51% | -7.30%-8.32% | n/a-16.47% | n/a-19.62% |
| Max drawdown duration | PIPE MLPX | 66d66d | 109d109d | n/a370d | n/a427d |
Trading data
PIPE | MLPX | |
Last sale 7/27/2026 at 1:30 PM | $30.14 | $74.79 |
| Previous close 07/24/2026 | $31.04 | $77.14 |
| 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 indexPIPE | MLPX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
PIPE | MLPX | |
|---|---|---|
| Last price | $30.14 | $74.79 |
| 1D performance | -2.90% | -3.05% |
| AuM | $66.63 M | $3.72 B |
| E/R | 0.75% | 0.45% |
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Exposure
Countries
PIPE
USA
72.98%
Canada
27.02%
Other
0%
MLPX
USA
74.93%
Canada
22.59%
Other
2.48%
Sectors
PIPE
Energy
100%
Other
0%
MLPX
Energy
97.52%
Other
2.48%
Diversification
PIPE
Total weight of top 15 holdings out of 15
75.88%
MLPX
Total weight of top 15 holdings out of 15
84.61%
Top 15 holdings
Data as of June 30, 2026
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%
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%
Frequently asked questions about PIPE and MLPX
How have the PIPE and MLPX ETFs performed in 2026?
As of July 24, 2026, PIPE is up 31.61% year-to-date (YTD), while MLPX has returned 30.15%. That puts PIPE better performer ahead so far this year.
Which ETF is attracting more investor money: PIPE or MLPX?
Year-to-date, the PIPE ETF saw +$1M in flows, compared to +$365M for MLPX.
Which ETF is more volatile: PIPE or MLPX?
Over the past year, PIPE had a volatility of 14.72%, while MLPX experienced 15.38%.
Which ETF is bigger: PIPE or MLPX?
As of July 24, 2026, PIPE holds $66.63 M in assets under management (AUM), while MLPX manages $3.72 B.
What sectors do the PIPE and MLPX ETFs invest in?
PIPE leans toward sectors like Energy. Meanwhile, MLPX focuses on Energy.
What are the top holdings of the PIPE ETF and MLPX ETF?
PIPE top holdings include Targa Resources Corp., The Williams Cos., Inc. and TC Energy Corp.. MLPX holds in its top three: TC Energy Corp., Enbridge, Inc. and The Williams Cos., Inc..
Which ETF is more diversified: PIPE or MLPX?
PIPE holds 25 securities with 75.88% of its assets in the top 15. MLPX has 28 securities and a top 15 weight of 84.61%.
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Latest news about PIPE & MLPX
Notable ETF Filings and Launches Recap: February 2025
March 4, 2025
PIPE
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