Fund Evaluator:
EIP Growth and Income Investor (EIPFX)
Follow This Fund
Best Performing in Energy Limited Partnership Over the Last Year
| 23.9% | GS Energy Infrastructure Fd Inv Shares (GLEIX) |
| 22.0% | Invesco SteelPath MLP Income Y (MLPZX) |
| 22.0% | PGIM Jennison Energy Infrastructure Z (PRPZX) |
| 21.8% | EIP Growth and Income Investor (EIPFX) |
| 19.1% | Invesco SteelPath MLP Alpha Y (MLPOX) |
Fund Details
EIP Growth and Income Investor Overview
EIP Growth and Income Investor (EIPFX) is an actively managed Sector Equity Energy Limited Partnership fund. EIP Funds launched the fund in 2016.
The investment seeks to provide a high level of total shareholder return that is balanced between current income and growth; it seeks low volatility as a secondary objective. Under normal market conditions, the fund pursues its objectives by investing primarily in a diversified portfolio of equity securities of issuers in the energy industry ("Energy Companies") that seek to pay out as dividends or distributions a portion of income or distributable cash flow in excess of the average for listed equities as a whole. It concentrates its investments in the Energy Industry and may invest without limit in Energy Companies of any market capitalization.
About EIP Growth and Income Investor (EIPFX)
There are 4 members of the management team with an average tenure of 12.49 years: James Murchie (2006), Eva Pao (2006), Saul Ballesteros (2025), John Tysseland (2016). 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%. EIP Growth and Income Investor has 77 securities in its portfolio. The top 10 holdings constitute 47.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
EIP Growth and Income Investor is part of the Equity global asset class and is within the Sector Equity fund group. EIP Growth and Income Investor has 5.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 80.4%. There is 5.0% 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). EIP Growth and Income Investor has 14.7% of the portfolio in cash.
Assets Under Management
The fund has $1 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.
EIPFX 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 EIP Growth and Income Investor expense ratio is high compared to funds in the Energy Limited Partnership category. EIP Growth and Income Investor has an expense ratio of 1.66%, which is 3% lower than its category average, making the fund expense ratio grade a D. 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. EIP Growth and Income Investor has a portfolio turnover rate of 44%, 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, EIP Growth and Income Investor returned 1.4%, which earned it a grade of D, 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.
EIP Growth and Income Investor has a trailing yield of 2.10%, 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.
EIP Growth and Income Investor Grades
Year to date, the fund has returned 17.6%, 4.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 21.8% over the past year (grade of C), 20.0% over the past three years (grade of F) and 16.0% per year over the past five years (grade of F) and 9.2% per year over the past 10 years (grade of D).
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EIPFX 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 |
|
| EIPFX Return (NAV) | 1.4% | -0.6% | 21.8% | 20.0% | 16.0% | 9.2% |
| EIPFX Grade | D | F | C | F | F | D |
| +/- Category | -0.5% | -1.5% | -0.4% | -4.3% | -4.2% | -0.1% |
| Energy Limited Partnership Avg | 1.9% | 0.9% | 22.1% | 24.2% | 20.2% | 9.3% |
| EIPFX Tax Cost Ratio | na | na | 3.6% | 2.4% | 3.0% | na |
EIPFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EIPFX Return (NAV) | 17.6% | 10.8% | 27.5% | 5.8% | 16.1% | 21.2% | -10.2% | 22.6% | -12.0% | -1.1% | 15.8% |
| EIPFX Grade | F | A | F | F | F | F | A | A | A | A | F |
| +/- Category | -4.2% | 6.3% | -8.8% | -11.1% | -8.8% | -18.2% | 16.1% | 10.7% | 4.0% | 5.5% | -12.7% |
| 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: | 12.7% |
| Total Risk Index: | 1.04 - Average |
| Category Risk Index: | 0.87 - Low |
| Category Risk Grade: | A (1% Rank) |
| Beta: | 0.32 |
| R-Squared: | 11% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $89 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 44% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 19.9 years | |||
| Average Tenure: 12.5 years | |||
| Managers (Year): Murchie James (2006), Pao Eva (2006), Tysseland John (2016), Ballesteros Saul (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 77 |
| % in Top 10 Holdings: | 47.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.0% |
Portfolio Allocation |
|
| Domestic Stock: | 80.4% |
| Foreign Stock: | 5.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 14.7% |
Purchase Information
| Fund Family: | EIP Funds |
| Phone Number: | 844-766-8694 |
| Website: |
| Status: | Open |
| Inception Date: | October 17, 2016 |
| Min. Initial Purchase: | $2,500 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.66% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.72% |
| Share Class: | EIP Growth and Income I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
