AMLP
The Alerian MLP ETF
Alerian MLP ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the price and yield performance of the Alerian MLP Infrastructure Index.
Fund Basics
| Fund sponsor | ALPS ETF Trust |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 25, 2010 |
| Assets (mns) | $3,196 |
| Expense ratio | 87 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | C Corporation |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Distributions |
| Weighting | Market Cap |
| Smart-beta | Yes |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MPLX LP | 11.9 % |
| ENTERPRISE PRODUCTS PARTNERS | 11.0 % |
| MAGELLAN MIDSTREAM PARTNERS | 10.3 % |
| ENERGY TRANSFER EQUITY LP | 9.3 % |
| PLAINS ALL AMER PIPELINE LP | 8.6 % |
| PHILLIPS 66 PARTNERS LP | 6.5 % |
| WESTERN GAS EQUITY PARTNERS LP | 5.7 % |
| TC PIPELINES LP | 5.6 % |
| CHENIERE ENERGY PARTNERS LP | 4.9 % |
| SHELL MIDSTREAM PARTNERS LP | 4.3 % |
Constituent Breakdown
| Number of holdings | 21 |
| Herfindahl-Hirschman Index | 727 |
| Wgt avg mkt cap (mns) | $10,474 |
| Large cap (>$10bn) | 36.5% |
| Mid cap ($2-10bn) | 31.6% |
| Small cap (<$2bn) | 31.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 100.5 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2020)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -40.7% | -43.2% | -28.2% | -18.5% | -13.1% | -- | -4.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.98 | 58% |
| MSCI EAFE | 2.11 | 56% |
| MSCI Emg Mkts | 1.59 | 50% |
Liquidity Measures
| Avg. volume (000) | 2,141 |
| Turnover | 1.4% |
| Avg. Bid/Ask (% of price) | 0.05% |
| ADV of underlying (mns) | $6 |
Technical Indicators
| Recent close | $21.35 |
| 30d moving avg. | $23.28 |
| Annualized volatility | 45.3% |
| Relative strength (RSI) | 29 |
| Short interest (ETF) | 5.5% |
| Short interest (underlying) | 2.2% |
Distributions
Total Cost of Ownership Detail
| AMLP | Difference | ||
|---|---|---|---|
| Fund expenses | -- | -- | |
| Bid/Ask spread | -- | -- | |
| Round-trip commission | -- | -- | -- |
| Total Cost of Ownership | -- | -- | -- |
Total Cost of Ownership over Time
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. AMLP |
Expenses vs. AMLP |
ALTAR Score™ vs. AMLP |
|---|---|---|---|---|
| MLPA | Global X MLP ETF | 86.4% | -41 bp | -1.1% |
| AMZA | InfraCap MLP ETF | 72.9% | +154 bp | -0.1% |
| ZMLP | Direxion Zacks MLP High Income Shares | 41.1% | -6 bp | -4.3% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 26.1% | -42 bp | -3.6% |
| ENFR | Alerian Energy Infrastructure ETF | 22.6% | -22 bp | -3.0% |
| EMLP | First Trust North American Energy Infrastructure Fund | 21.6% | +9 bp | -2.2% |
| YMLP | VanEck Vectors High Income MLP ETF | 20.3% | -42 bp | -2.9% |
| USAI | Pacer American Energy Independence ETF | 19.1% | -12 bp | -4.4% |
| TPYP | Tortoise North American Pipeline Fund | 16.3% | -47 bp | -2.0% |
| FCG | First Trust Natural Gas ETF | 13.3% | -27 bp | -4.3% |
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Results & Estimates
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020E | 2021E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2019 | 2020E | Fwd Est | 2021E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/18/2020
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
AMLP
8.2%
Cat. Avg
5.9%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.2% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 711 funds in the US Equities category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.6%. AMLP's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places AMLP in the 80th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
AMLP
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
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Market Activity
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