MLPA


MLP ETF

Fund Summary

The Global X MLP ETF (MLPA) invests in some of the largest, most liquid midstream Master Limited Partnerships (MLPs).

Fund Objective

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

Why MLPA?

High Income Potential

MLPs typically pay high yields to investors because they do not pay corporate income taxes.

Midstream Exposure

MLPA invests in midstream pipelines and storage facilities that have less sensitivity to energy prices.

Low Expense Ratio

MLPA’s expense ratio is nearly 30% lower than the industry average*.

*Expense ratio was 29.6% lower than the industry average net expense ratio as of 7/1/19, per ETF.com (category: Niche = 'MLPs', exclude 'Active' & 'ETNs').

Fund Details As of 9/13/19

Key Facts

Ticker MLPA
Inception Date 4/18/12
CUSIP 37950E473
ISIN US37950E4733
Bloomberg Index Ticker MLPAMID
Primary Exchange NYSE Arca

Stats & Fees

Net Assets $960,008,976
NAV $8.51
Shares Outstanding 112,800,000
Total Expense Ratio 0.45%

Distributions

Distribution Frequency Quarterly

Taxes

Effective Tax Rate 23.35%
Net Deferred Tax Asset/(Liability) $12,255,354

The Fund will accrue a Valuation Allowance equal to the inverse of any net deferred tax asset, resulting in an adjusted net deferred tax asset of $0. The fund will not accrue a Valuation Allowance if it holds a net deferred tax liability.

Fund Prices As of 9/13/19

NAV Price
Net Asset Value $8.51 Closing Price $8.51
Daily Change $0.21 2.48% Daily Change $0.20 2.41%

Performance History

Cumulative %

Data as of month end (8/31/19)

Fund NAV Closing Price Index
1 Month -5.29% -5.40% -5.73%
3 Months -1.54% -1.43% -2.29%
6 Months 1.02% 1.02% -0.24%
Since Inception -6.51% -6.54% -4.61%

Avg Annualized %

Data as of month end (8/31/19)

Fund NAV Closing Price Index
1 Year -8.00% -7.91% -10.44%
3 Years -2.88% -2.91% -4.63%
5 Years -7.10% -7.12% -9.92%
Since Inception -0.91% -0.91% -0.64%

Avg Annualized %

Data as of quarter end (6/30/19)

Fund NAV Closing Price Index
1 Year 4.48% 4.48% 2.15%
3 Years -1.58% -1.58% -3.24%
5 Years -5.81% -5.82% -8.26%
Since Inception -0.35% -0.36% 0.04%

Index performance shown represents the Hybrid Solactive MLP Infrastructure Index which consists of the Solactive MLP Composite Index from the inception of the Fund through March 31, 2015, and the Solactive MLP Infrastructure Index going forward.

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.

Fund Characteristics As of 9/11/19

Return on Equity 7.20%
Average Market Cap $7,599.00 M
2018 2019
Price-to-earnings 19.36 14.09
Price-to-book value 1.01 1.02

Source: AltaVista Research, LLC

Fund Risk Stats As of 9/11/19

Versus Beta
S&P 500 1.01
MSCI EAFE 0.98
MSCI Emg. Mkts 0.61
Standard Deviation 17.10%

Source: AltaVista Research, LLC

Top 10 Holdings

As of 9/13/19
Net Assets % Name Market Price ($) Shares Held Market Value ($)
9.71 ENTERPRISE PRODU 28.53 3,267,789 93,230,020.17
9.06 ENERGY TRANSFER LP 14.02 6,204,634 86,988,968.68
7.61 MAGELLAN MIDSTRE 65.47 1,115,511 73,032,505.17
7.25 MPLX LP 29.03 2,398,174 69,618,991.22
5.76 PLAINS ALL AMER 21.57 2,564,150 55,308,715.50
5.11 WESTERN MIDSTREA 25.62 1,914,815 49,057,560.30
5.06 PHILLIPS 66 PARTNERS LP 57.74 842,036 48,619,158.64
4.99 TC PIPELINES LP 40.32 1,189,121 47,945,358.72
4.94 GENESIS ENERGY L.P. 22.32 2,125,229 47,435,111.28
4.84 BUCKEYE PARTNERS LP 41.09 1,131,167 46,479,652.03
Holdings are subject to change. Cash, where shown, includes other assets and liabilities, such as payables and receivables.

Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. 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).

MLPA invests in the energy industry, which entails significant risk and volatility. The Fund is non-diversified. The Fund invests in small and mid-capitalization companies, which pose greater risks than large companies. The Fund has a different and more complex tax structure than traditional ETFs and investors should consider carefully the significant tax implications of an investment in the Fund.

MLPA is taxed as a regular corporation for federal income tax purposes, which differs from most investment companies. Due to its investment in MLPs, the Fund will be obligated to pay applicable federal and state corporate income taxes on its taxable income, as opposed to most other investment companies. The Fund expects that a portion of the distributions it receives from MLPs may be treated as tax-deferred return of capital. The amount of taxes currently paid by the Fund will vary depending on the amount of income and gains derived from MLP interests and such taxes will reduce an investor’s return. The Fund will accrue deferred income taxes for any future tax liability associated certain MLP interests. Upon the sale of an MLP security, the Fund may be liable for previously deferred taxes which may increase expenses and lower the Fund’s NAV.

The potential tax benefits from investing in MLPs depend on them being treated as partnerships for federal income tax purposes. If the MLP is deemed to be a corporation then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the Fund which could result in a reduction of the Fund’s value.

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. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns 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.