I've covered the Global X MLP & Energy Infrastructure ETF (NYSEARCA:MLPX) several times in the past. I've generally focused on the fund, its characteristics and fundamentals. In this article, I'll be comparing MLPX with the Energy Select Sector SPDR Fund ETF (NYSEARCA:XLE), a broader energy equity index. XLE is a simple U.S. energy equity index ETF, investing in all S&P 500 energy stocks. These include integrated oil majors, midstream energy companies, refineries, and the like. By virtue of only investing in S&P 500 stocks, the fund only invests in large-caps, excluding mid-caps and small-caps.