AMLPAlerian MLP ETF
AMLP Fund Description
The Alerian MLP ETF tracks a market-cap-weighted index of 25 energy infrastructure master limited partnerships. The fund is structured as a C-corporation.
AMLP Factset Analytics Insight
AMLP is hugely popular, but like all MLP ETPs, it comes with caveats. Because traditional ETFs can only hold 25% of their portfolios in MLPs, AMLP is instead structured as a C-corporation to allow full allocation to MLPs. However, this structure introduces a layer of taxation that prevents it from passing through the full return of its underlying index. Therefore, AMLP provides diluted exposure to its MLPs, shown by a beta to its index that’s typically close to 0.65 due to its 35% corporate tax rate. The benefit of this structure: Most distributions are tax-deferred, similar to the underlying MLPs and in contrast to ETNs. The fund's huge headline fee is a symptom of this structure, as the issuer must report recent deferred tax expenses as part of the fee.
AMLP focuses on energy infrastructure, but its holdings still align well with our broad MLP benchmark. It typically leads all MLP ETPs in AUM and trading volume. If tax-deferred income and liquidity are paramount, and you’re willing to live with the tax haircut dictated by the legal structure, AMLP is tough to beat.
AMLP MSCI ESG Analytics Insight
The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of June 21, 2018 the Alerian MLP ETF MSCI ESG Fund Quality Score is 2.79 out of 10.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. AMLP ranks in the 2nd percentile within its peer group and in the 1st percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.
AMLP CHARTS AND PERFORMANCE
AMLP Top 10 Countries
AMLP Top 10 Sectors
AMLP Top 10 Holdings [View All]
AMLP Portfolio Management
AMLP Tax Exposures
AMLP Fund Structure
AMLP Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of AMLP. AMLP is rated a 5 out of 5.
AMLP Sector/Industry Breakdown
AMLP TOP 10 HOLDINGS[View All]
AMLP Economic Development
AMLP Performance Statistics
AMLP MSCI ESG Ratings
AMLP BENCHMARK COMPARISON SUMMARY
AMLP BENCHMARK COMPARISON MARKET CAP SIZE
Options Strategies for Outcome Investing
A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.