MLPA
Global X MLP ETF
Global X MLP ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Solactive MLP Composite Index.
Fund Basics
Fund sponsor | Global X Management Co LLC |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Apr 18, 2012 |
Assets (mns) | $1,414 |
Expense ratio | 45 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | C Corporation |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Committee |
Weighting | Market Cap |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
ENTERPRISE PRODUCTS PARTNERS | 13.8 % |
ENERGY TRANSFER, L.P. | 13.2 % |
MAGELLAN MIDSTREAM PARTNERS | 12.2 % |
MPLX LP | 10.6 % |
PLAINS ALL AMER PIPELINE LP | 9.9 % |
ENLINK MIDSTREAM LLC | 8.3 % |
WESTERN GAS EQUITY PARTNERS LP | 8.0 % |
INERGY LP | 6.8 % |
CHENIERE ENERGY PARTNERS LP | 6.0 % |
NUSTAR ENERGY LP | 5.0 % |
Constituent Breakdown
Number of holdings | 19 |
Herfindahl-Hirschman Index | 998 |
Wgt avg mkt cap (mns) | $22,830 |
Large cap (>$10bn) | 71.5% |
Mid cap ($2-10bn) | 10.9% |
Small cap (<$2bn) | 17.6% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 103.5 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
11.8% | 12.0% | 22.0% | 30.7% | 3.4% | 0.4% | 1.4% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.78 | 35% |
MSCI EAFE | 0.77 | 35% |
MSCI Emg Mkts | 0.54 | 16% |
Liquidity Measures
Avg. volume (000) | 92 |
Turnover | 0.3% |
Avg. Bid/Ask (% of price) | 0.23% |
ADV of underlying (mns) | $539 |
Technical Indicators
Recent close | $44.98 |
30d moving avg. | $43.55 |
Annualized volatility | 23.9% |
Relative strength (RSI) | 53 |
Short interest (ETF) | 0.0% |
Short interest (underlying) | 1.8% |
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. MLPA |
Expenses vs. MLPA |
ALTAR Score™ vs. MLPA |
---|---|---|---|---|
AMZA | InfraCap MLP ETF | 98.2% | +119 bp | -1.2% |
AMLP | The Alerian MLP ETF | 95.3% | +42 bp | -0.1% |
UMI | USCF Midstream Energy Income Fund ETF | 29.8% | +40 bp | -1.2% |
ENFR | Alerian Energy Infrastructure ETF | 29.6% | -10 bp | +0.5% |
MLPX | Global X MLP & Energy Infrastructure ETF | 27.4% | 0 bp | +1.0% |
EINC | VanEck Energy Income ETF | 25.7% | +3 bp | +0.5% |
EMLP | First Trust North American Energy Infrastructure Fund | 25.6% | +50 bp | +1.4% |
USAI | Pacer American Energy Independence ETF | 25.1% | +30 bp | 0.0% |
TPYP | Tortoise North American Pipeline Fund | 18.0% | -5 bp | +1.3% |
DIV | Global X SuperDividend US ETF | 11.1% | 0 bp | +4.4% |
Risk and Returns: MLPA 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 9/20/2023
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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
MLPA
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™
MLPA
4.2%
Cat. Avg
6.3%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 4.2% |
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 Equities category, with an average ALTAR Score™
of 6.3% and a standard deviation of
3.1%. MLPA's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places MLPA in the 25th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MLPA
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
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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) |
|
---|---|---|---|
MLPA | 45.0 | 23.1 | 68.1 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .