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").
Fund Basics
| Fund sponsor | ETFis Capital LLC |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 01, 2014 |
| Assets (mns) | $324 |
| Expense ratio | 164 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PLAINS ALL AMER PIPELINE LP | 18.8 % |
| ENTERPRISE PRODUCTS PARTNERS | 16.7 % |
| ENERGY TRANSFER, L.P. | 15.7 % |
| MPLX LP | 13.0 % |
| WESTERN GAS EQUITY PARTNERS LP | 12.7 % |
| ENLINK MIDSTREAM LLC | 9.2 % |
| MAGELLAN MIDSTREAM PARTNERS | 8.7 % |
| NUSTAR ENERGY LP | 8.2 % |
| CHENIERE ENERGY PARTNERS LP | 7.4 % |
| INERGY LP | 6.3 % |
Constituent Breakdown
| Number of holdings | 22 |
| Herfindahl-Hirschman Index | 1,703 |
| Wgt avg mkt cap (mns) | $30,394 |
| Large cap (>$10bn) | 72.7% |
| Mid cap ($2-10bn) | 9.4% |
| Small cap (<$2bn) | 17.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 134.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 16.1% | 17.5% | 26.7% | 40.8% | -2.7% | -- | -6.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.12 | 37% |
| MSCI EAFE | 1.11 | 39% |
| MSCI Emg Mkts | 0.81 | 19% |
Liquidity Measures
| Avg. volume (000) | 38 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.43% |
| ADV of underlying (mns) | $650 |
Technical Indicators
| Recent close | $34.55 |
| 30d moving avg. | $34.20 |
| Annualized volatility | 32.8% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.8% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. AMZA |
Expenses vs. AMZA |
ALTAR Score™ vs. AMZA |
|---|---|---|---|---|
| AMLP | The Alerian MLP ETF | 100.6% | -77 bp | +1.1% |
| MLPA | Global X MLP ETF | 98.2% | -119 bp | +1.2% |
| UMI | USCF Midstream Energy Income Fund ETF | 34.3% | -79 bp | +0.0% |
| ENFR | Alerian Energy Infrastructure ETF | 34.0% | -129 bp | +1.8% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 32.0% | -119 bp | +2.2% |
| USAI | Pacer American Energy Independence ETF | 30.8% | -89 bp | +1.3% |
| EINC | VanEck Energy Income ETF | 30.2% | -116 bp | +1.8% |
| EMLP | First Trust North American Energy Infrastructure Fund | 29.4% | -69 bp | +2.8% |
| TPYP | Tortoise North American Pipeline Fund | 23.3% | -124 bp | +2.6% |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | 13.1% | -117 bp | +3.2% |
Risk and Returns: AMZA 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/26/2023
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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
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
3.0%
Cat. Avg
6.5%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.0% |
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 898 funds in the US Equities category, with an average ALTAR Score™
of 6.5% and a standard deviation of
3.1%. AMZA's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places AMZA in the 13rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
AMZA
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) |
|
|---|---|---|---|
| AMZA | 164.0 | 43.4 | 207.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .