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
$398.2 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | ETFis Capital LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 01, 2014 |
| Assets (mns) | $398 |
| 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
| 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 holdings | 89 |
| 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)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| 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... | Beta | R-squared |
| S&P 500 | 0.72 | 27% |
| MSCI EAFE | 0.66 | 22% |
| MSCI Emg Mkts | 0.46 | 11% |
Liquidity Measures
| Avg. volume (000) | 40 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.41% |
| ADV of underlying (mns) | $5,820 |
Technical Indicators
| Recent close | $40.88 |
| 30d moving avg. | $41.57 |
| Annualized volatility | 24.8% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. AMZA |
Expenses vs. AMZA |
ALTAR Score™ vs. AMZA |
|---|---|---|---|---|
| MLPA | Global X MLP ETF | 94.6% | -119 bp | +0.9% |
| AMLP | Alerian MLP ETF | 92.7% | -79 bp | +0.4% |
| ENFR | Alerian Energy Infrastructure ETF | 34.2% | -129 bp | 0.0% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 33.3% | -119 bp | +0.0% |
| EINC | VanEck Energy Income ETF | 33.1% | -116 bp | -0.1% |
| UMI | USCF Midstream Energy Income Fund ETF | 32.6% | -79 bp | -0.2% |
| USAI | Pacer American Energy Independence ETF | 29.5% | -89 bp | -0.6% |
| EIPI | FT Energy Income Partners Enhanced Income ETF | 28.9% | -54 bp | +1.1% |
| EMLP | First Trust North American Energy Infrastructure Fund | 26.7% | -69 bp | +0.6% |
| NDIV | Amplify Natural Resources Dividend Income ETF | 26.5% | -105 bp | +4.7% |
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
| 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 | --% |
Based on closing prices from 7/25/2024
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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
4.7%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.7% |
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
2.4%. AMZA's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places AMZA in the 33rd 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
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 .