AMZA

InfraCap MLP ETF

InfraCap Active MLP ETF is an exchange-traded fund incorporated in the USA. The Fund seeks total return primarily through investments in equity securities of publicly-traded master limited partnerships and limited liability companies taxed as partnerships ("MLPs").


US

EQUITY

Active

MANAGEMENT STYLE

164 bp

EXPENSES

$414.7 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorETFis Capital LLC
CategoryUS
Asset classEquity
Websitelink...
Inception dateOct 01, 2014
Assets (mns)$415
Expense ratio164 bp
CurrencyUSD
Sector Breakdown
Fund Structure
Regulation
DistributionsMonthly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
MPLX LP 16.9 %
ENERGY TRANSFER, L.P. 16.2 %
ENTERPRISE PRODUCTS PARTNERS 16.0 %
PLAINS ALL AMER PIPELINE LP 15.9 %
WESTERN GAS EQUITY PARTNERS LP 14.9 %
SUNOCO LP 14.2 %
ENLINK MIDSTREAM LLC 7.6 %
CHENIERE ENERGY PARTNERS LP 5.7 %
HESS MIDSTREAM LP - CLASS A 4.4 %
GENESIS ENERGY L.P. 2.6 %
Constituent Breakdown
Number of holdings89
Herfindahl-Hirschman Index 1,610
Wgt avg mkt cap (mns)$35,908
Large cap (>$10bn)73.1%
Mid cap ($2-10bn)19.0%
Small cap (<$2bn)4.6%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 126.4 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 21.1% 36.2% 36.2% 22.5% 6.5% -- -3.3%
Volatility 18.7% 19.1% 25.8% 28.0% 47.4% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.7227%
MSCI EAFE0.6622%
MSCI Emg Mkts0.4611%
Liquidity Measures
Avg. volume (000)41
Turnover0.4%
Avg. Bid/Ask (% of price)0.41%
ADV of underlying (mns)$5,820
Technical Indicators
Recent close$42.58
30d moving avg.$39.00
Annualized volatility24.8%
Relative strength (RSI)51
Short interest (ETF)0.0%
Short interest (underlying)2.3%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: AMZA vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
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
  2023 2024E Fwd Est 2025E
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 --%
0.6 12.2 2.8 6.7% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
AMZA



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™

AMZA

4.4%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™4.4%
Recommendation

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. AMZA's ALTAR Score™ is approximately 0.5 standard deviations below the category average. This places AMZA in the 30rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
AMZA
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Active
US Equity ETFs
# of ETFs 308
Avg. Expense Ratio 67.1 bp
Std. Deviation 37 bp
AMZA (164 bp) Percentile rank 99
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
AMZA 164.0 40.8 204.8
Peer Avg. 69.7 23.8 93.5
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .