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
2.8 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) | $2,809 |
| 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 | 8.0 % |
| ENERGY TRANSFER, L.P. | 6.7 % |
| ONEOK INC | 5.3 % |
| KINDER MORGAN INC | 5.1 % |
| PLAINS GP HOLDINGS LP CLASS A | 4.4 % |
| DT MIDSTREAM, INC. | 4.4 % |
| SEMPRA ENERGY | 4.1 % |
| MPLX LP | 3.7 % |
| TARGA RESOURCES CORP | 3.3 % |
| US DOLLAR | 3.1 % |
Constituent Breakdown
| Number of holdings | 65 |
| Herfindahl-Hirschman Index | 340 |
| Wgt avg mkt cap (mns) | $31,764 |
| Large cap (>$10bn) | 74.3% |
| Mid cap ($2-10bn) | 24.1% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 88.4 % |
 |
CANADA | 7.9 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 23.5% | 32.0% | 20.7% | 16.5% | 9.8% | 6.2% | 8.2% | Volatility | 11.7% | 12.4% | 15.8% | 15.3% | 21.7% | 18.7% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.66 | 65% |
| MSCI EAFE | 0.66 | 63% |
| MSCI Emg Mkts | 0.50 | 33% |
Liquidity Measures
| Avg. volume (000) | 134 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $8,353 |
Technical Indicators
| Recent close | $34.33 |
| 30d moving avg. | $32.93 |
| Annualized volatility | 14.8% |
| Relative strength (RSI) | 57 |
| Short interest (ETF) | 0.1% |
| 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 |
|---|---|---|---|---|
| EIPI | FT Energy Income Partners Enhanced Income ETF | 71.7% | +15 bp | +0.6% |
| EIPX | FT Energy Income Partners Strategy ETF | 57.2% | 0 bp | +1.9% |
| ECLN | First Trust EIP Carbon Impact ETF | 53.9% | +1 bp | -0.4% |
| UMI | USCF Midstream Energy Income Fund ETF | 46.7% | -10 bp | -0.7% |
| ENFR | Alerian Energy Infrastructure ETF | 46.6% | -60 bp | -0.8% |
| EINC | VanEck Energy Income ETF | 42.8% | -47 bp | -0.9% |
| TPYP | Tortoise North American Pipeline Fund | 42.6% | -55 bp | -0.2% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 40.9% | -50 bp | -0.7% |
| USAI | Pacer American Energy Independence ETF | 40.8% | -20 bp | -1.5% |
| FUTY | Fidelity MSCI Utilities Index ETF | 29.6% | -87 bp | +0.5% |
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
| 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 10/22/2024
Peer Group Comparison Sample data. Subscribe for access.
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 Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
EMLP
4.8%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 361 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.6%. EMLP's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places EMLP in the 57th 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
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| EMLP (95 bp) Percentile rank | 78 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| EMLP | 95.0 | 4.2 | 99.2 |
| Peer Avg. | 75.0 | 38.7 | 113.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .