Average Daily Volume
1.73M
Fund Overview
The Alerian MLP ETF (AMLP) is an exchange-traded fund that provides investors with exposure to master limited partnerships (MLPs) in the energy infrastructure sector. AMLP tracks the Alerian MLP Infrastructure Index, which consists of MLPs that derive the majority of their cash flows from midstream energy activities such as transportation, storage, and processing of energy commodities. The fund is structured as a C-corporation to avoid the tax complications associated with direct MLP ownership, offering a more accessible way for investors to gain exposure to this sector. AMLP is known for its high yield, making it attractive to income-focused investors, though it comes with unique risks tied to the energy sector and MLP structure.
- Asset Class
-
Equity
- Industry
-
Energy Infrastructure
- Annual Dividend Rate
-
- Smart Beta
-
Yes
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- -0.10 %
- Currency Hedged
-
No
- Portfolio Turnover
-
18 %
- Dividend Date
-
Why Invest in the AMLP ETF?
Potential Benefits
- High yield potential due to the income-generating nature of MLPs.
- Exposure to energy infrastructure, which is critical for the economy and tends to be less volatile than exploration and production companies.
- Tax-efficient structure (C-corporation) simplifies tax reporting compared to direct MLP ownership.
- Diversification across midstream energy companies, reducing single-entity risk.
- Liquidity and ease of trading as an ETF, unlike individual MLPs which can be less liquid.
Potential Risks
- Sensitivity to energy commodity prices and demand fluctuations.
- Regulatory risks, as changes in tax laws or energy policies can impact MLPs.
- Interest rate sensitivity, as MLPs often carry high debt levels and rising rates can increase costs.
- Complex tax structure may still pose challenges for some investors.
- Concentration risk in the energy sector, making the fund vulnerable to sector-wide downturns.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+6.4%
|
+6.1%
|
+1.2%
|
+2.8%
|
-2.8%
|
+0.5%
|
+6.7%
|
+2.4%
|
-6.7%
|
+3.0%
|
-
|
-
|
| 2025 |
+7.1%
|
+2.6%
|
+0.1%
|
-7.1%
|
+1.0%
|
+2.3%
|
+2.5%
|
-0.8%
|
-3.6%
|
-0.6%
|
+4.4%
|
-1.3%
|
| 2024 |
+4.5%
|
+4.9%
|
+3.9%
|
-1.2%
|
-0.2%
|
+4.6%
|
+0.2%
|
+0.4%
|
-0.4%
|
-1.3%
|
+12.6%
|
-6.2%
|
| 2023 |
+6.1%
|
-1.9%
|
-0.6%
|
+1.6%
|
-2.3%
|
+4.6%
|
+6.4%
|
+0.6%
|
+2.6%
|
-0.6%
|
+7.2%
|
-3.5%
|
| 2022 |
+11.2%
|
+5.2%
|
+1.9%
|
-0.6%
|
+8.0%
|
-14.5%
|
+12.7%
|
+3.7%
|
-7.5%
|
+14.6%
|
-2.6%
|
-4.9%
|
| 2021 |
+5.4%
|
+7.7%
|
+7.2%
|
+7.3%
|
+7.0%
|
+6.0%
|
-6.9%
|
-2.6%
|
+3.0%
|
+5.2%
|
-7.7%
|
+3.3%
|
| 2020 |
-5.6%
|
-14.8%
|
-48.4%
|
+49.1%
|
+7.9%
|
-8.0%
|
-3.8%
|
+0.2%
|
-13.5%
|
+4.4%
|
+23.6%
|
+2.7%
|
| 2019 |
+12.7%
|
+0.4%
|
+3.5%
|
-0.9%
|
-1.0%
|
+2.2%
|
-0.2%
|
-5.6%
|
+0.6%
|
-6.6%
|
-6.1%
|
+8.6%
|
| 2018 |
+5.7%
|
-9.7%
|
-7.2%
|
+7.8%
|
+4.6%
|
-2.4%
|
+8.3%
|
+1.0%
|
-1.6%
|
-8.1%
|
-0.9%
|
-8.6%
|
| 2017 |
+3.3%
|
+0.6%
|
-1.2%
|
-0.9%
|
-3.1%
|
-0.3%
|
+0.3%
|
-4.9%
|
+0.2%
|
-4.5%
|
-1.4%
|
+4.1%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
|
WES
|
WESTERN MIDSTREAM PARTNERS LP |
12.0 % |
|
MPLX
|
MPLX LP PARTNERSHIP UNITS |
12.0 % |
|
SUN
|
SUNOCO LP |
12.0 % |
|
ET
|
ENERGY TRANSFER LP |
12.0 % |
|
EPD
|
ENTERPRISE PRODUCTS PARTNERS LP |
11.7 % |
|
PAA
|
PLAINS ALL AMERICAN PIPELINE LP |
11.6 % |
|
HESM
|
HESS MIDSTREAM LP CLASS A |
9.4 % |
|
CQP
|
CHENIERE ENERGY PARTNERS LP |
5.3 % |
|
USAC
|
USA COMPRESSION PARTNERS LP |
3.8 % |
|
GEL
|
GENESIS ENERGY LP |
3.1 % |
Top 10 holdings shown, out of 15 total holdings.
Related ETFs: AMLP vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
AMLP tracks the Alerian MLP Infrastructure Index, a market-cap-weighted index of MLPs engaged in midstream energy activities. The index methodology focuses on companies that generate the majority of their revenue from fee-based contracts, reducing direct exposure to commodity price volatility. The fund is structured as a C-corporation, which allows it to avoid the tax complexities of direct MLP ownership while still providing access to the sector's income potential. AMLP primarily holds common stocks of MLPs and rebalances quarterly to maintain alignment with the index.
Frequently Asked Questions
Does AMLP pay monthly dividends?
Yes, AMLP typically distributes dividends on a monthly basis, reflecting the income generated by its underlying MLP holdings.
How does AMLP handle K-1 tax forms?
Unlike direct MLP investments, AMLP is structured as a C-corporation and issues a standard 1099 form, simplifying tax reporting compared to the K-1 forms associated with individual MLPs.
What is the primary risk of investing in AMLP?
The primary risks include exposure to energy price volatility, regulatory changes affecting MLPs, and interest rate sensitivity due to the sector's high leverage.
How does AMLP compare to energy sector ETFs like XLE?
AMLP focuses exclusively on midstream MLPs, while XLE provides broader exposure to the energy sector, including upstream and downstream companies. AMLP tends to offer higher yields but with greater sector concentration.
Industry Overview
The Alerian MLP ETF (AMLP) provides exposure to the midstream energy sector, which includes companies involved in the transportation, storage, and processing of oil, natural gas, and other energy commodities. Midstream operations are generally considered less volatile than upstream (exploration and production) or downstream (refining and marketing) segments, as they generate revenue through fees and contracts rather than direct commodity price exposure. Investing in AMLP allows investors to participate in the steady cash flows generated by energy infrastructure, which is essential for the functioning of the global economy. However, the sector is not immune to macroeconomic factors, regulatory changes, or shifts in energy demand.
Alternative Comparison
Compared to peers like MLPA and MLPX, AMLP stands out for its pure-play focus on midstream MLPs and its C-corporation structure, which simplifies tax reporting. MLPA, for example, includes a broader range of energy infrastructure companies beyond MLPs, while MLPX incorporates utilities and other energy-related equities. AMLP's expense ratio is competitive within the MLP ETF space, though some peers may offer slightly lower costs or different sector exposures. Unlike some competitors that use derivatives or synthetic replication, AMLP holds physical securities, providing direct exposure to its underlying assets.
Issuer Overview
AMLP is issued by ALPS Advisors, a subsidiary of SS&C Technologies, which specializes in providing investment solutions through ETFs and other financial products. ALPS Advisors is known for its focus on niche and thematic investment strategies, including MLPs and other income-oriented assets. The firm has a strong track record in managing energy-focused funds and collaborates with index providers like Alerian to offer targeted exposure to specific market segments.
Conclusion
The Alerian MLP ETF (AMLP) is a compelling option for investors seeking high yield and exposure to the energy infrastructure sector. Its focus on midstream MLPs and tax-efficient structure make it a unique tool for income-oriented portfolios. However, investors should be mindful of the risks associated with the energy sector, regulatory changes, and interest rate sensitivity. AMLP is best suited for those with a long-term perspective and a tolerance for sector-specific volatility.
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