MLPXGlobal X MLP & Energy Infrastructure ETF
MLPX 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 ESG Analytics Insight
Global X MLP & Energy Infrastructure ETF has an MSCI ESG Fund Rating of BB based on a score of 3.73 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
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. Global X MLP & Energy Infrastructure ETF ranks in the 10th percentile within its peer group and in the 17th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
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 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 Sector/Industry Breakdown
MLPX Economic Development
MLPX Performance Statistics
MLPX MSCI ESG Ratings
MLPX Benchmark Comparison Summary
MLPX Benchmark Comparison Market Cap Size