Symbols

MLPX

Global X MLP & Energy Infrastructure ETF·NYSE

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Key Stats

Assets Under Management

2.56BUSD

Fund Flows (1Y)

221.01MUSD

Dividend Yield

4.98%

Discount/Premium to NAV

0.07%

Shares Outstanding

43.18M

Expense Ratio

0.45%

About Global X MLP & Energy Infrastructure ETF

Issuer

Global X Management Company LLC

Brand

Global X

Home Page

https://www.globalxetfs.com/funds/MLPX/

Inception Date

Aug 6, 2013

Structure

Open-Ended Fund

Index Tracked

Solactive MLP & Energy Infrastructure Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Global X Management Co. LLC

Distributor

SEI Investments Distribution Co.

MLPX's seemingly vanilla structure comes with important trade-offs on how it plays the space. Unlike most existing MLP ETPs that are structured as C-corporations, MLPX is regulated as a classic 1940 Act fund. While this eliminates the downsides of the other structures, it also means the fund offers diluted exposure to MLPs. The fund intends to hold at least 20 US-listed midstream energy infrastructure MLPs and corporations. Since MLPX must be RIC compliant, it may only allocate 24% of its portfolio to MLPs at each quarterly rebalance, with the rest going to infrastructure firms which on the other hand are market-cap-weighted. Holdings are subjected to various capping constraints.