MLPX
Global X MLP & Energy Infrastructure ETFMLPX Fund Description
MLPX tracks an index of MLPs and companies engaged in energy infrastructure. The ETF is structured as an open-ended fund.
MLPX Factset Analytics Insight
MLPX's seemingly vanilla structure comes with important trade-offs on how it plays the space. Unlike most existing MLP ETPs, MLPX is structured as a classic 1940 Act fund as opposed to a C-corporation or ETN. While this eliminates the downsides of the other structures, it also means the fund offers diluted exposure to MLPs. Since MLPX must be RIC compliant, it may only allocate 25% of its portfolio to MLPs at rebalance, with the rest going to infrastructure firms. (One of the firms is ex-MLP heavyweight, Kinder Morgan Inc, a stock that pure play MLP ETPs don't hold.) Yield is lower, since the diluted structure tamps down cash flows. Our analysis shows fairly strong alignment to pure-play daily MLP returns, for better or worse. MLPX is easy to trade: liquidity is strong and spreads are moderate, though traders will probably still want to use limit orders here. Larger investors will find straightforward execution on block trades. While MLPX charges an attractive fee, it doesn't provide the kind of tight tracking that its structure would seem to imply, and actual holding costs are liable to be far higher.
MLPX 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.
MLPX Charts And Performance
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MLPX Summary Data
MLPX Portfolio Data
MLPX Index Data
MLPX Portfolio Management
MLPX Tax Exposures
MLPX Fund Structure
MLPX Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of MLPX. MLPX is rated a 5 out of 5.
MLPX Tradability
MLPX Sector/Industry Breakdown
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MLPX Top 10 Holdings[View All]
MLPX Countries
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MLPX Regions
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MLPX Economic Development
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MLPX Performance Statistics
MLPX Benchmark Comparison Summary
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MLPX Benchmark Comparison Market Cap Size
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