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) | $6,664 |
| Expense ratio | 87 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | C Corporation |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Distributions |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ENERGY TRANSFER, L.P. | 11.2 % |
| PLAINS ALL AMER PIPELINE LP | 10.9 % |
| MAGELLAN MIDSTREAM PARTNERS | 10.8 % |
| MPLX LP | 10.7 % |
| WESTERN GAS EQUITY PARTNERS LP | 10.6 % |
| ENTERPRISE PRODUCTS PARTNERS | 9.7 % |
| ENLINK MIDSTREAM LLC | 9.2 % |
| DCP MIDSTREAM LP | 8.1 % |
| CHENIERE ENERGY PARTNERS LP | 5.9 % |
| INERGY LP | 4.8 % |
Constituent Breakdown
| Number of holdings | 16 |
| Herfindahl-Hirschman Index | 852 |
| Wgt avg mkt cap (mns) | $18,953 |
| Large cap (>$10bn) | 56.6% |
| Mid cap ($2-10bn) | 28.1% |
| Small cap (<$2bn) | 15.3% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 103.9 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2022)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 31.3% | 36.5% | 37.3% | 10.6% | 3.7% | 0.9% | 2.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.62 | 47% |
| MSCI EAFE | 1.57 | 44% |
| MSCI Emg Mkts | 1.36 | 37% |
Liquidity Measures
| Avg. volume (000) | 1,942 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $680 |
Technical Indicators
| Recent close | $39.92 |
| 30d moving avg. | $40.80 |
| Annualized volatility | 49.5% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 4.8% |
| Short interest (underlying) | 1.8% |
Distributions
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 |
|---|---|---|---|---|
| AMZA | InfraCap MLP ETF | 89.1% | +114 bp | -0.9% |
| MLPA | Global X MLP ETF | 83.6% | -41 bp | +0.6% |
| UMI | USCF Midstream Energy Income Fund ETF | 29.3% | -2 bp | -0.5% |
| ENFR | Alerian Energy Infrastructure ETF | 28.7% | -52 bp | +0.3% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 28.2% | -42 bp | +0.3% |
| EINC | VanEck Energy Income ETF | 25.8% | -41 bp | +0.5% |
| USAI | Pacer American Energy Independence ETF | 24.7% | -12 bp | -0.9% |
| EMLP | First Trust North American Energy Infrastructure Fund | 23.8% | +8 bp | +1.3% |
| TPYP | Tortoise North American Pipeline Fund | 19.0% | -47 bp | +1.0% |
| DFRA | Donoghue Forlines Yield Enhanced Real Asset ETF | 11.0% | -18 bp | +3.8% |
Risk and Returns: AMLP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 12/2/2022
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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.
SHOWING:
Price-to-Earnings
Price-to-Earnings
AMLP
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
3.5%
Cat. Avg
6.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.5% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 875 funds in the US Equities category, with an average ALTAR Score™
of 6.4% and a standard deviation of
2.9%. AMLP's ALTAR Score™ is approximately
1.0 standard deviations
below
the category average. This places AMLP in the 17th 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
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| AMLP | 87.0 | 2.8 | 89.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .