ETF Evaluator: Alerian MLP ETF (AMLP) Follow This ETF

Alerian MLP ETF Overview

Alerian MLP ETF (AMLP) is a passively managed Sector Equity Energy Limited Partnership exchange-traded fund (ETF). ALPS launched the ETF in 2010.

The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index. The fund will normally invest at least 90% of its total assets in securities that comprise the underlying index. The underlying index is comprised of energy infrastructure MLPs that earn a majority of their cash flow from the transportation, storage and processing of energy commodities. It is non-diversified.

About Alerian MLP ETF (AMLP)

There are 2 members of the management team with an average tenure of 6.76 years: Ryan Mischker (2015) and Charles Perkins (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Bloomberg US 1000 TR USD index with a weighting of 100% and Alerian MLP Infrastructure TR USD index with a weighting of 100%. Alerian MLP ETF has 15 securities in its portfolio. The top 10 holdings constitute 91.7% 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.

Alerian MLP ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Alerian MLP ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% 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). Alerian MLP ETF has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $12 billion in total assets, which is above 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.

AMLP 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 Alerian MLP ETF expense ratio is high compared to funds in the Energy Limited Partnership category. Alerian MLP ETF has an expense ratio of 1.01%, which is 32% 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. Alerian MLP ETF has a portfolio turnover rate of 14%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 21% for the Energy Limited Partnership category.

Recently, in the month of June 2026, Alerian MLP ETF returned 0.4%, which earned it a grade of D, 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.

Alerian MLP ETF has a trailing yield of 7.76%, which is above the 5.28% 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.

Alerian MLP ETF Grades

Year to date, the ETF has returned 14.4%, 5.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 15.0% over the past year (grade of F), 18.9% over the past three years (grade of F) and 16.3% per year over the past five years (grade of F) and 6.4% per year over the past 10 years (grade of F).

For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about Alerian MLP ETF, including its riskiness, submit your email to unlock the rest of the article.