Compare · 4 funds side by side · dividends reinvested

PIPE, EMLP, SMH and PAVE

PIPEInvesco×EMLPFirst Trust×SMHVanEck×PAVEGlobal X×

Story of the four · Growth5Y$10,000 five years agoDividends reinvested · all four on one scale$36,298SMH · best of the four

02 / 04

PIPE, EMLP, SMH and PAVE, Ranked

Today

FundFeeYieldYTD1 year3 yrs · yr5 yrs · yrWorst dropVolatilityAssetsAvg rank

Invesco SteelPath MLP & Energy Infrastructure ETFThematic · Infrastructure0.75%4.11%+21.3%+27.0%[…][…]−10.7%17.4%$60M2.0

VanEck Semiconductor ETFThematic · AI & semis0.35%0.23%+35.3%+39.3%+50.1%+29.4%−33.1%43.1%$60.7B2.1

First Trust North American Energy Infrastructure FundThematic · Infrastructure0.95%2.82%+17.2%+18.4%+20.7%+15.2%−7.9%11.3%$4.1B2.4

Global X - U.S. Infrastructure Development ETFThematic · Infrastructure0.47%0.81%+11.8%+12.8%+22.3%+14.7%−15.3%21.9%$13.0B3.0

Rank among the four1st → 4thFee, drop and volatility: lower ranks higherAvg rank: mean of the 8 ranks · 1 is best

End-of-day Nov 9, 2026 · returns include dividends · since: PIPE 2025 · EMLP 2012 · SMH 2011 · PAVE 2017

Head to Head

Swap sides Versus in desk

Head to Head

Invesco SteelPath MLP & Energy Infrastructure ETF · $60M[…]

PIPE

EMLP

First Trust North American Energy Infrastructure Fund · $4.1B$20,285

$10,000 five years ago, dividends reinvested · they hold 28.0% in common

PIPEMeasureEMLP

+21.3%Year to dateJan 1 → Nov 9+17.2%

+27.0%1 yearTotal return+18.4%

[…]3 years · per year$10,000 became […] · $17,569+20.7%

[…]5 years · per year$10,000 became […] · $20,285+15.2%

0.75%Expense ratio$75 · $95 a year on $10k · lower is better0.95%

4.11%Trailing 12-mo yield$411 · $282 a year on $10k2.82%

−10.7%Worst dropSmaller is better−7.9%

17.4%VolatilityLower is calmer11.3%

PIPEEMLP Winner of the row, in its colourEach row: the bigger of the two fills its side

4–2PIPE wins

End-of-day Nov 9, 2026 · returns include dividends · 3Y and 5Y figures are per-year returns

More Ways to See the Pairs

PIPE vs EMLP: Top 5 Holdings

Today

PIPE

32.6%in top 5

EMLP

in top 527.8%

PIPEStockEMLP

not top 5EPD9.0%

8.5%TRGPnot top 5

not top 5ET7.2%

6.7%PAGP3.5%

6.0%TRPnot top 5

6.0%WMBnot top 5

5.3%LNGnot top 5

not top 5MPLX4.4%

not top 5KMI3.5%

Held in common28.0%

End-of-day Nov 9, 2026 · share of each fund

PIPE vs EMLP Returns, Every Period

InvescoPIPE

+27.0%

past year

EMLPFirst Trust

+18.4%

past year

PIPEEMLPFaded: behind in that period

2–0PIPE wins

End-of-day Nov 9, 2026 · dividends in · faded = behind in that period

PIPE vs EMLP

YTD

InvescoPIPE

+21.3%

EMLPFirst Trust

+17.2%

+21.3%Year to date+17.2%

−10.7%Worst drop · 1Y−7.9%

17.4%Volatility · 1Y11.3%

4.1%Yield2.8%

$60.1MAssets$4.1B

2–2level

End-of-day Nov 9, 2026 · smaller drop and lower volatility win

Cost, Income and Risk

Fees: PIPE, EMLP, SMH, PAVE

Today

0.35%lowest, SMH

FundExpense ratioFee$10k

SMH0.35%$35

PAVE0.47%$47

PIPE0.75%$75

EMLP0.95%$95

End-of-day Nov 9, 2026 · fee on $10,000 a year

Yields: PIPE, EMLP, SMH, PAVE

4.11%highest, PIPE

FundTrailing yieldYield$10k

PIPE4.11%$411

EMLP2.82%$282

PAVE0.81%$81

SMH0.23%$23

End-of-day Nov 9, 2026 · trailing 12-month yield

Income After Fees on $10,000

$336most kept, PIPE

PIPE$411 − $75 = $336

EMLP$282 − $95 = $187

PAVE$81 − $47 = $34

SMH$23 − $35 = −$12

KeptFee

End-of-day Nov 9, 2026 · yield in dollars minus the fee

Overlap: PIPE, EMLP, SMH, PAVE

Today

28.0%most shared, PIPE and EMLP

PIPEEMLPSMHPAVE

PIPE—28.0%0.0%0.0%

EMLP28.0%—0.0%4.3%

SMH0.0%0.0%—0.0%

PAVE0.0%4.3%0.0%—

End-of-day Nov 9, 2026 · share held in common · outlined: the pair in versus

Return vs Bumpiness: 4 ETFs

+39.3%SMH, at 43.1% volatility

EMLPWorst drop−7.9%11.3% vol

PIPEWorst drop−10.7%17.4% vol

PAVEWorst drop−15.3%21.9% vol

SMHWorst drop−33.1%43.1% vol

End-of-day Nov 9, 2026 · up and left is better

Paid More vs Made More

YTD

PIPESMH

+21.3%Year to date+35.3%

4.1%Yield0.2%

+27.0%Past year+39.3%

0.75%Fee0.35%

3–1SMH wins

End-of-day Nov 9, 2026

Popular Pairs Near These Four

SOXX vs SMH

YTD

iSharesSOXX

+46.5%

SMHVanEck

+35.3%

+46.5%Year to date+35.3%

0.33% · $33Fee · on $10k a year0.35% · $35

$37.5BAssets$60.7B

2–0SOXX wins

End-of-day Nov 9, 2026

SCHD vs VIG

YTD

SchwabSCHD

+33.2%

VIGVanguard

+14.8%

+33.2%Year to date+14.8%

3.0%Yield1.5%

$122BAssets$109B

2–0SCHD wins

End-of-day Nov 9, 2026

JEPQ vs JEPI

YTD

J.P. MorganJEPQ

+6.6%

JEPIJ.P. Morgan

+7.5%

+6.6%Year to date+7.5%

12.4%Yield7.9%

$40.7BAssets$45.2B

1–1level

End-of-day Nov 9, 2026