Global X MLP ETF (MLPA) Valuation
MLPA valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 14.4 trailing earnings
- Forward P/E
- 13.3 analyst estimates
- Price / sales
- 0.64
- Price / book
- 3.23
- EV / EBITDA
- 9.5
- Earnings yield
- 6.92% inverse of P/E
- Dividend yield
- 6.97% of the holdings
- Return on equity
- 22.3% combined
- Net margin
- 4.4% combined
- Beta
- 0.53 weighted, vs S&P 500
MLPA valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MLPA | 14.4 | 13.3 | 0.64 | 3.23 | 6.97% | 22.3% | 4.4% | 0.0% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
MLPA valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 82.7% | 14.8 | 13.2 | 0.63 | 3.36 | 6.95% | 22.7% |
| Utilities | 3.1% | 9.1 | 16.6 | 0.84 | 1.57 | 7.44% | 17.4% |
MLPA earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How MLPA weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MLPA largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EPD | Enterprise Products Partners L.P. | 12.46% | 12.8 | 11.9 | 1.4 | 6.08% | 16.41% |
| MPLX | MPLX LP | 11.47% | 12.5 | 12.2 | 4.9 | 7.40% | 15.45% |
| PAA | Plains All American Pipeline, L.P. | 11.23% | 21.8 | 13.1 | 0.3 | 6.61% | 8.69% |
| WES | Western Midstream Partners, LP | 9.60% | 14.1 | 11.3 | 4.3 | 8.34% | 11.46% |
| SUN | Sunoco LP | 8.51% | 16.2 | 38.2 | 0.3 | 5.47% | 8.87% |
| CQP | Cheniere Energy Partners, L.P. | 7.03% | 12.0 | 16.3 | 2.7 | 5.14% | 9.90% |
| HESM | Hess Midstream LP | 6.30% | 10.6 | 9.9 | 3.9 | 10.07% | 10.04% |
| USAC | USA Compression Partners, LP | 5.37% | 24.1 | 16.9 | 3.1 | 8.23% | 3.76% |
| GEL | Genesis Energy, L.P. | 4.02% | 71.2 | 10.1 | 0.9 | 5.62% | 0.95% |
| GLP | Global Partners LP | 3.76% | 10.1 | 14.2 | 0.1 | 6.28% | 6.24% |
| SPH | Suburban Propane Partners, L.P. | 3.10% | 9.1 | 16.6 | 0.8 | 7.44% | 5.78% |
| DKL | Delek Logistics Partners, LP | 2.90% | 19.9 | 10.3 | 2.8 | 7.86% | 2.46% |
| SMC | Summit Midstream Corporation | 0.00% | — | 26.1 | 0.7 | — | −0.00% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About MLPA valuation
Adding up its 13 holdings with company data, MLPA trades at 14.4 times trailing earnings and 13.3 times analysts' forward estimates, with a price-to-book ratio of 3.23 and a dividend yield of 6.97%. Its earnings yield of 6.92% is 1.59 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 79.8% of the fund and earn 91.8% of its combined profit. By sector, Energy is the most expensive at 14.8 times earnings and Utilities the cheapest at 9.1. Companies that lost money over the past year are 0.0% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MLPA chart, MLPA performance, MLPA holdings, MLPA dividends.
MLPA valuation FAQ
What is the P/E ratio of MLPA?
Based on its holdings, MLPA has a trailing P/E of 14.4 and a forward P/E of 13.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MLPA?
The trailing earnings yield is 6.92% (1 ÷ P/E) and the forward earnings yield 7.51%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MLPA more expensive than the S&P 500?
MLPA trades at 14.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.3 and 19.9.
What is the price-to-book ratio of MLPA?
The holdings of MLPA trade at 3.23 times book value, with a combined return on equity of 22.3%.
Which sector in MLPA has the highest P/E?
Energy has the highest P/E at 14.8 and Utilities the lowest at 9.1.