AMLP
Alerian MLP ETFAMLP Fund Description
AMLP tracks a market-cap-weighted index of 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 0.79 due to its 21% 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 FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
AMLP Charts And Performance
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AMLP Summary Data
AMLP Portfolio Data
AMLP Index Data
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 Tradability
AMLP Sector/Industry Breakdown
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AMLP Top 10 Holdings[View All]
AMLP Countries
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AMLP Regions
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AMLP Economic Development
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AMLP Performance Statistics
AMLP Benchmark Comparison Summary
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AMLP Benchmark Comparison Market Cap Size
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