EMLP
First Trust North American Energy Infrastructure Fund
First Trust North American Energy Infrastructure Fund is an exchange-traded fund incorporated in the USA. The fund will invest in publicly-traded master limited partnerships ("MLPs"), MLP affiliates, Canadian income trusts, pipeline companies, utilities, and other companies that derive at least 50% of their revenues from infrastructure assets such as pipelines.
Fund Basics
| Fund sponsor | First Trust Advisors LP |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 20, 2012 |
| Assets (mns) | $2,411 |
| Expense ratio | 95 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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
Complete list +
| ENTERPRISE PRODUCTS PARTNERS | 7.9 % |
| PLAINS GP HOLDINGS LP CLASS A | 7.2 % |
| ENERGY TRANSFER, L.P. | 6.8 % |
| SEMPRA ENERGY | 4.6 % |
| KINDER MORGAN INC | 4.2 % |
| DT MIDSTREAM, INC. | 4.1 % |
| NEXTERA ENERGY PARTNERS LP | 3.1 % |
| AMERICAN ELECTRIC POWER | 3.0 % |
| PUBLIC SERVICE ENTERPRISE GP | 2.8 % |
| NATIONAL FUEL GAS CO | 2.7 % |
Constituent Breakdown
| Number of holdings | 63 |
| Herfindahl-Hirschman Index | 345 |
| Wgt avg mkt cap (mns) | $22,697 |
| Large cap (>$10bn) | 70.2% |
| Mid cap ($2-10bn) | 24.3% |
| Small cap (<$2bn) | 2.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 87.3 % |
 |
CANADA | 6.6 % |
 |
ITALY | 0.8 % |
 |
SPAIN | 0.7 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 5.0% | 2.9% | 9.9% | 14.7% | 6.9% | 5.8% | 6.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.70 | 64% |
| MSCI EAFE | 0.62 | 53% |
| MSCI Emg Mkts | 0.46 | 27% |
Liquidity Measures
| Avg. volume (000) | 191 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $3,094 |
Technical Indicators
| Recent close | $27.32 |
| 30d moving avg. | $27.45 |
| Annualized volatility | 15.6% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.9% |
| Short interest (underlying) | 0.0% |
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. EMLP |
Expenses vs. EMLP |
ALTAR Score™ vs. EMLP |
|---|---|---|---|---|
| ECLN | First Trust EIP Carbon Impact ETF | 51.8% | +1 bp | -0.4% |
| UMI | USCF Midstream Energy Income Fund ETF | 43.8% | -10 bp | -2.6% |
| ENFR | Alerian Energy Infrastructure ETF | 43.1% | -60 bp | -0.9% |
| EINC | VanEck Energy Income ETF | 38.8% | -47 bp | -0.9% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 38.5% | -50 bp | -0.5% |
| USAI | Pacer American Energy Independence ETF | 36.6% | -20 bp | -1.4% |
| TPYP | Tortoise North American Pipeline Fund | 35.5% | -55 bp | -0.2% |
| AMZA | InfraCap MLP ETF | 29.4% | +69 bp | -2.7% |
| PUI | Invesco DWA Utilities Momentum ETF | 28.0% | -35 bp | +0.4% |
| VPU | Vanguard Utilities Index Fund | 27.9% | -85 bp | +0.9% |
Risk and Returns: EMLP 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 9/22/2023
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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
EMLP
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™
EMLP
5.6%
Cat. Avg
4.2%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.6% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 345 funds in the Global Equities category, with an average ALTAR Score™
of 4.2% and a standard deviation of
5.1%. EMLP's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places EMLP in the 61st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
EMLP
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) |
|
|---|---|---|---|
| EMLP | 95.0 | 4.1 | 99.1 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .