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.
Global
EQUITY
Active
MANAGEMENT STYLE
3.5 B
ASSETS UNDER MGMT
95 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust Advisors LP |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 20, 2012 |
| Assets (mns) | $3,475 |
| 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 | 8.2 % |
| ENERGY TRANSFER, L.P. | 7.2 % |
| MPLX LP | 5.2 % |
| PLAINS GP HOLDINGS LP CLASS A | 4.5 % |
| US DOLLAR | 4.5 % |
| KINDER MORGAN INC | 4.0 % |
| NATIONAL FUEL GAS CO | 3.6 % |
| PPL CORPORATION | 2.8 % |
| ENTERGY CORP | 2.1 % |
| ONE GAS INC | 2.0 % |
Constituent Breakdown
| Number of holdings | 65 |
| Herfindahl-Hirschman Index | 304 |
| Wgt avg mkt cap (mns) | $38,106 |
| Large cap (>$10bn) | 68.7% |
| Mid cap ($2-10bn) | 24.3% |
| Small cap (<$2bn) | 1.8% |
| Developed mkts. | 94.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 89.0 % |
 |
CANADA | 5.9 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.5% | 10.3% | 19.5% | 12.1% | 13.8% | 5.0% | -- | 4.9% |
| Dividend Yield | 0.9% | 0.9% | 2.1% | 2.8% | 3.3% | 3.8% | -- | 3.7% |
| Total Returns | 6.3% | 11.2% | 21.6% | 14.9% | 17.2% | 8.8% | -- | 8.6% | Ann. Volatility | 15.4% | 15.5% | 13.7% | 13.7% | 15.1% | 18.4% | -- | 17.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 41% |
| MSCI EAFE | 0.47 | 33% |
| MSCI Emg Mkts | 0.33 | 19% |
Liquidity Measures
| Avg. volume (000) | 256 |
| ADV traded (mns) | $10 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.05% |
Technical Indicators
| 30d moving avg. (EMA) | $38.11 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.13/0.10 |
| Bollinger Bands (Upper/Lower) | $38.79/$37.33 |
| Short interest (% of AUM) | 0.2% |
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 |
|---|---|---|---|---|
| EIPI | FT Energy Income Partners Enhanced Income ETF | 71.3% | +15 bp | +6.9% |
| FPWR | First Trust EIP Power Solutions ETF | 65.6% | +1 bp | +4.1% |
| EIPX | FT Energy Income Partners Strategy ETF | 64.8% | 0 bp | +8.1% |
| ENFR | Alerian Energy Infrastructure ETF | 37.0% | -60 bp | +6.1% |
| UMI | USCF Midstream Energy Income Fund ETF | 36.7% | -10 bp | +5.7% |
| TPYP | Tortoise North American Pipeline Fund | 35.9% | -55 bp | +5.9% |
| EINC | VanEck Energy Income ETF | 33.9% | -47 bp | +5.7% |
| FUTY | Fidelity MSCI Utilities Index ETF | 32.1% | -87 bp | +5.0% |
| USAI | Pacer American Energy Independence ETF | 32.1% | -20 bp | +4.8% |
| VPU | Vanguard Utilities ETF | 31.4% | -86 bp | +5.0% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 11/29/2025
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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
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 Rating
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.
ALTAR Score™
EMLP
5.7%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 378 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.1%. EMLP's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places EMLP in the 69th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EMLPSELL
U/W
HOLD
O/W
BUY