Fund Evaluator:
Eagle Energy Infrastructure N (EGLNX)
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Best Performing in Energy Limited Partnership Over the Last Year
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Fund Details
Eagle Energy Infrastructure N Overview
Eagle Energy Infrastructure N (EGLNX) is an actively managed Sector Equity Energy Limited Partnership fund. Eagle MLP launched the fund in 2018.
The investment seeks total return from income and capital appreciation. The fund seeks to achieve its objective by investing, under normal conditions, at least 80% of its assets (net assets plus borrowings for investment purposes) in energy infrastructure securities. It is non-diversified.
About Eagle Energy Infrastructure N (EGLNX)
There are 6 members of the management team with an average tenure of 9.23 years: Steven Russo (2012), Alex Meier (2020), Michael Cerasoli (2020), Zachary Slater (2025), Edward Allen (2012), Greg Anderson (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Alerian MLP TR USD index with a weighting of 100%. Eagle Energy Infrastructure N has 24 securities in its portfolio. The top 10 holdings constitute 73.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Eagle Energy Infrastructure N is part of the Equity global asset class and is within the Sector Equity fund group. Eagle Energy Infrastructure N has 8.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.8%. There is 8.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Eagle Energy Infrastructure N has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $53 million in total assets, which is below the $278 million 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.
EGLNX 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 Eagle Energy Infrastructure N expense ratio is high compared to funds in the Energy Limited Partnership category. Eagle Energy Infrastructure N has an expense ratio of 1.26%, which is 27% lower than its category average, making the fund expense ratio grade a B. 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. Eagle Energy Infrastructure N has a portfolio turnover rate of 32%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 39% for the Energy Limited Partnership category.
Recently, in the month of June 2026, Eagle Energy Infrastructure N returned 3.1%, which earned it a grade of A, as the Energy Limited Partnership category had an average return of 1.9%. 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 funds in that category.
Eagle Energy Infrastructure N has a trailing yield of 4.28%, which is below the 5.42% category average. The fund normally distributes its income quarterly.
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.
Eagle Energy Infrastructure N Grades
Year to date, the fund has returned 27.7%, 5.9 percentage points better than the category, which translates into a grade of A. The fund has returned 27.5% over the past year (grade of A), 28.3% over the past three years (grade of A) and 25.0% per year over the past five years (grade of A) and 12.2% per year over the past 10 years (grade of A).
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EGLNX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EGLNX Return (NAV) | 3.1% | 2.5% | 27.5% | 28.3% | 25.0% | 12.2% |
| EGLNX Grade | A | A | A | A | A | A |
| +/- Category | 1.2% | 1.6% | 5.4% | 4.1% | 4.7% | 2.9% |
| Energy Limited Partnership Avg | 1.9% | 0.9% | 22.1% | 24.2% | 20.2% | 9.3% |
| EGLNX Tax Cost Ratio | na | na | 2.0% | 2.1% | 2.1% | na |
EGLNX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EGLNX Return (NAV) | 27.7% | 4.2% | 43.3% | 16.1% | 33.5% | 49.1% | -23.6% | 9.5% | -18.7% | -9.3% | 39.2% |
| EGLNX Grade | A | C | A | C | A | A | B | D | D | D | A |
| +/- Category | 5.9% | -0.2% | 7.0% | -0.8% | 8.7% | 9.6% | 2.6% | -2.4% | -2.7% | -2.7% | 10.6% |
| Energy Limited Partnership Avg | 21.8% | 4.5% | 36.3% | 16.9% | 24.8% | 39.4% | -26.3% | 11.9% | -15.9% | -6.6% | 28.5% |
| Risk Measures | |
| Standard Deviation: | 15.9% |
| Total Risk Index: | 1.31 - Above Average |
| Category Risk Index: | 1.09 - High |
| Category Risk Grade: | F (90% Rank) |
| Beta: | 0.31 |
| R-Squared: | 6% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $264 Mil |
| Fund Total Assets: | $ 53 Mil |
| Share Class Type: | N |
| Portfolio Turnover: | 32% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 13.8 years | |||
| Average Tenure: 9.2 years | |||
| Managers (Year): Russo Steven (2012), Allen Edward (2012), Anderson Greg (2012), Meier Alex (2020), Cerasoli Michael (2020), Slater Zachary (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 24 |
| % in Top 10 Holdings: | 73.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 8.9% |
Portfolio Allocation |
|
| Domestic Stock: | 89.8% |
| Foreign Stock: | 8.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Eagle MLP |
| Phone Number: | 888-868-9501 |
| Website: | www.eaglemlpfund.com |
| Status: | Open |
| Inception Date: | August 16, 2018 |
| Min. Initial Purchase: | $10,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.26% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.72% |
| Share Class: | Eagle Energy Infrastructure I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
