MLPX


MLP & Energy Infrastructure ETF

Fund Summary

The Global X MLP & Energy Infrastructure ETF (MLPX) is a tax-efficient vehicle for gaining access to MLPs and similar entities, such as the General Partners of MLPs and energy infrastructure corporations.

Morningstar Rating Overall rating out of 90 Energy Limited Partnership funds, based on risk-adjusted returns as of 06/30/2021

Fund Objective

The Global X MLP & Energy Infrastructure ETF (MLPX) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive MLP & Energy Infrastructure Index.

Why MLPX?

Tax Efficient

Unlike traditional MLP funds, MLPX avoids fund level taxes by limiting direct MLP exposure and investing in similar entities, such as the General Partners of MLPs and other energy infrastructure corporations.

Midstream Exposure

MLPX invests in midstream infrastructure entities such as pipelines and storage facilities that have less sensitivity to energy prices.

High Income Potential

MLPX invests in MLPs and other energy infrastructure companies, which may result in above-average yields.

Fund Details As of 07/28/21

Key Facts

Ticker MLPX
Inception Date 08/06/13
CUSIP 37954Y293
ISIN US37954Y2937
Bloomberg Index Ticker SOLMLPX
Primary Exchange NYSE Arca
Number of Holdings 25

Stats & Fees

Net Assets $710,549,028
Net Asset Value (NAV) $34.99
Shares Outstanding 20,307,506
Total Expense Ratio 0.45%

Distributions

30-Day SEC Yield 5.79%
Distribution Frequency Quarterly

Fund Prices As of 07/28/21

NAV $34.99 Daily Change $0.25 0.73%
Market Price $34.91 Daily Change $0.23 0.66%
30-Day Median Bid-Ask Spread 0.06%

Performance History

As of recent month & quarter-end (06/30/21)
As of recent month & quarter-end (06/30/21)
Fund NAV Market Price Index
1 Year 57.95% 58.25% 59.08%
3 Years 3.69% 3.74% 4.29%
5 Years 3.55% 3.58% 4.21%
Since Inception 2.29% 2.35% 2.94%
1 Year 57.95% 58.25% 59.08%
3 Years 3.69% 3.74% 4.29%
5 Years 3.55% 3.58% 4.21%
Since Inception 2.29% 2.35% 2.94%
Year-to-Date 39.41% 39.57% 39.90%
1 Month 4.10% 4.19% 4.15%
3 Months 17.06% 16.75% 17.26%
Since Inception 19.58% 20.14% 25.78%
Year-to-Date 39.41% 39.57% 39.90%
1 Month 4.10% 4.19% 4.15%
3 Months 17.06% 16.75% 17.26%
Since Inception 19.58% 20.14% 25.78%

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.

Fund Characteristics As of 07/28/21

Return on Equity 14.10%
Weighted Avg. Market Cap 27,493 M
2020 2021
Price-to-earnings -314.54 13.77
Price-to-book value 1.96 1.92

Source: AltaVista Research, LLC

Fund Risk Stats As of 07/28/21

Versus Beta
S&P 500 1.73
MSCI EAFE 1.73
MSCI Emg. Mkts 1.56
Standard Deviation 38.90%

Source: AltaVista Research, LLC

Top Holdings As of 07/28/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.05 ENB ENBRIDGE INC 2478906 39.34 1,635,274 64,331,679.16
8.87 TRP TC ENERGY CORP BJMY6F9 49.36 1,277,996 63,081,882.56
8.67 KMI KINDER MORGAN INC B3NQ4P8 17.77 3,469,487 61,652,783.99
7.90 WMB WILLIAMS COS INC 2967181 25.30 2,219,608 56,156,082.40
6.84 OKE ONEOK INC 2130109 53.34 911,376 48,612,795.84
6.57 LNG CHENIERE ENERGY INC 2654364 85.17 548,738 46,736,015.46
4.97 TRGP TARGA RESOURCES CORP B55PZY3 42.76 826,312 35,333,101.12
4.62 PBA PEMBINA PIPELINE CORP B4PPQG5 32.74 1,003,585 32,857,372.90
4.51 ETRN EQUITRANS MIDSTREAM CORP BFMWBV6 8.27 3,876,459 32,058,315.93
4.49 AM ANTERO MIDSTREAM CORP BJBT0Q4 9.71 3,284,524 31,892,728.04
4.41 ET ENERGY TRANSFER LP B0WHXD2 9.95 3,147,808 31,320,689.60
4.27 EPD ENTERPRISE PRODU 2285388 22.79 1,332,028 30,356,918.12
4.07 MMP MAGELLAN MIDSTRE 2723037 47.64 607,364 28,934,820.96
4.04 PAGP PLAINS GP HOLD-A BDGHN95 10.60 2,706,744 28,691,486.40
3.40 MPLX MPLX LP B847R56 28.43 850,012 24,165,841.16
3.07 ENLC ENLINK MIDSTREAM LLC BJTNDQ9 5.74 3,806,215 21,833,400.79
2.66 AROC ARCHROCK INC BYRGSX7 8.50 2,222,390 18,890,315.00
1.77 PAA PLAINS ALL AMER 2311960 9.98 1,262,168 12,596,436.64
1.60 WES WESTERN MIDSTREA BJ552C8 19.95 569,029 11,352,697.58
0.94 DCP DCP MIDSTREAM LP B0SF374 27.75 241,385 6,698,433.75
0.83 PSXP PHILLIPS 66 PARTNERS LP BCD47V2 37.42 156,830 5,867,794.45
0.65 CQP CHENIERE ENERGY B1VNH36 42.19 109,773 4,631,322.87
0.65 SHLX SHELL MIDSTREAM BRWQCC0 13.62 336,606 4,584,573.72
0.52 CASH 1.00 3,696,352 3,696,352.28
0.36 HEP HOLLY ENERGY PARTNERS LP B00N3V0 21.10 122,016 2,574,537.60
0.28 ENBL ENABLE MIDSTREAM BLBP550 8.46 235,289 1,990,544.94
Holdings are subject to change.


© 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 6/30, MLPX was rated against the following numbers of Energy Limited Partnership funds over the following time periods: 90 during the last 3 years, 75 during the last 5 years. With respect to these Energy Limited Partnership funds, MLPX received a Morningstar Rating of 4 stars, for both periods. Past performance is not indicative of future results.

Investing involves risk, including the possible loss of principal. Investments in securities of MLPs involve risk that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP. MLP common units and other equity securities can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards MLPs or the energy sector, changes in a particular issuer’s financial condition, or unfavorable or unanticipated poor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). The Fund invests in the energy industry, which entails significant risk and volatility. MLPX is non-diversified.

The Fund invests in small and mid-capitalization companies, which pose greater risks than large companies. The Fund also expects to pay distributions, which will be treated as a return of capital for tax purposes rather than from net profits and shareholders should not assume that the source of distributions is from the net profits of the Fund.

The Fund derives substantially all of its cash flow from investments in equity securities of MLPs. The amount of cash that the Fund will have available to pay or distribute to you depends entirely on the ability of the MLPs that the Fund owns to make distributions to their partners and the tax character of those distributions. Neither the Fund nor the Adviser has control over the actions of underlying MLPs. The amount of cash that each individual MLP can distribute to its partners will depend on the amount of cash it generates from operations, which will vary from quarter to quarter depending on factors affecting the energy infrastructure market generally. Available cash will also depend on the MLPs’ level of operating costs (including incentive distributions to the general partner), level of capital expenditures, debt service requirements, acquisition costs (if any), fluctuations in working capital needs, and other factors. The MLP holdings of the Fund expect to generate significant investment income, and the Fund’s investments may not distribute the expected or anticipated levels of cash, resulting in the risk that the Fund may not have the ability to make cash distributions as investors expect from MLP-focused investments. Past distributions are not indicative of future distributions. There is no guarantee that dividends will be paid.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, nor does Solactive AG make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Solactive AG.