ETF Evaluator: InfraCap MLP ETF (AMZA) Follow This ETF

InfraCap MLP ETF Overview

InfraCap MLP ETF (AMZA) is an actively managed Sector Equity Energy Limited Partnership exchange-traded fund (ETF). Virtus launched the ETF in 2014.

The investment seeks total return primarily through investments in equity securities of publicly traded master limited partnerships and limited liability companies taxed as partnerships ("MLPs"). Under normal market conditions, the fund will invest not less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of MLPs in the energy infrastructure sector. It is non-diversified.

About InfraCap MLP ETF (AMZA)

There are 2 members of the management team with an average tenure of 7.05 years: Jay Hatfield (2014) and Andrew Meleney (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: FT Wilshire 5000 TR USD index with a weighting of 100% and Alerian MLP Infrastructure TR USD index with a weighting of 100%. InfraCap MLP ETF has 86 securities in its portfolio. The top 10 holdings constitute 96.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

InfraCap MLP ETF is part of the Equity global asset class and is within the Sector Equity ETF group. InfraCap MLP ETF has 1.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 111.9% There is 1.0% allocated to foreign stock, and 0.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.4% (0.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). InfraCap MLP ETF has -13.9% of the portfolio in cash.

Assets Under Management

The fund has $443 million in total assets, which is below the $1 billion average for the Energy Limited Partnership category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

AMZA Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The InfraCap MLP ETF expense ratio is high compared to funds in the Energy Limited Partnership category. InfraCap MLP ETF has an expense ratio of 1.72%, which is 125% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. InfraCap MLP ETF has a portfolio turnover rate of 59%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 21% for the Energy Limited Partnership category.

Recently, in the month of June 2026, InfraCap MLP ETF returned 1.7%, which earned it a grade of C, as the Energy Limited Partnership category had an average return of 1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

InfraCap MLP ETF has a trailing yield of 8.20%, which is above the 5.28% category average. The fund normally distributes its income monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

InfraCap MLP ETF Grades

Year to date, the ETF has returned 22.1%, 2.3 percentage points better than the category, which translates into a grade of B. The fund has returned 16.6% over the past year (grade of F), 21.0% over the past three years (grade of D) and 19.3% per year over the past five years (grade of C) and 4.7% per year over the past 10 years (grade of F).

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