InfraCap MLP ETF
ALTAR
Score™
8.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
15.7x P/Sales
ratio
0.6x
P/BV
ratio
0.9x Div.
yield
12.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
InfraCap Active MLP ETF is an exchange-traded fund incorporated in the USA. The Fund seeks total return primarily through investments in equity securities of publicly-traded master limited partnerships and limited liability companies taxed as partnerships ("MLPs").

FUND BASICS
Category US Equities
Fund Sponsor ETFis Capital LLC
Website
Inception date Oct 01, 2014
Assets (mns) $110
Currency USD
Expense ratio 241 bp
Distributions Quarterly

FUND STRUCTURE
Regulation
Custodian Bank of New York Mellon
Weighting Proprietary
Index replication Not Applicable
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 23
Wgt avg mkt cap (mns) $14,852
Large cap (>$10bn) 38.1%
Mid cap ($2-10bn) 28.3%
Small cap (<$2bn) 33.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ENERGY TRANSFER EQUITY LP 16.5 %
MPLX LP 15.4 %
NUSTAR ENERGY LP 14.6 %
ENTERPRISE PRODUCTS PARTNERS 14.3 %
BP MIDSTREAM PARTNERS LP 10.8 %
DCP MIDSTREAM PARTNERS LP 9.9 %
SHELL MIDSTREAM PARTNERS LP 9.5 %
PLAINS ALL AMER PIPELINE LP 9.2 %
WESTERN GAS EQUITY PARTNERS LP 8.8 %
NOBLE MIDSTREAM PARTNERS LP 4.6 %
Total 113.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 143.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
333.8% 283.0% 18.7% -- 13.2%

Market Correlations
versus... Beta R-squared
S&P500 -2.08 5%
MSCI EAFE -3.43 12%
MSCI Emg. Mkts. -2.73 12%

Technical Indicators
Recent close $17.29
30d moving avg. $20.36
Annualized volatility 156.9%
Short interest (ETF) 0.9%
Short interest (Underlying) 3.1%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 91
Turnover 1.4%
Bid/Ask (% of price) 0.74%
ADV underlying (mns) $2,185

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the InfraCap MLP ETF ETF based on the alternatives' overlap in portfolio holdings with AMZA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AMZA Expense: 241 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AMZA
Ticker Fund
Name
Overlap1
vs AMZA
(%)
Expense
ratio
(bp)
Savings
vs AMZA
(bp)
ALTAR
Score™
(%)
ALTAR
vs AMZA
(%)
MLPA Global X MLP ETF 78.0 46 195 8.3 -0.2
AMLP The Alerian MLP ETF 73.0 87 154 8.4 -0.1
ZMLP Direxion Zacks MLP High Income Shares 48.7 81 160 4.3 -4.2
ENFR Alerian Energy Infrastructure ETF 24.0 65 176 5.2 -3.3
MLPX Global X MLP & Energy Infrastructure ETF 22.1 45 196 3.8 -4.7
YMLP VanEck Vectors High Income MLP ETF 21.4 45 196 5.4 -3.1
EMLP First Trust North American Energy Infrastructure Fund 20.2 96 145 5.7 -2.8
USAI Pacer American Energy Independence ETF 17.8 75 166 2.7 -5.7
TPYP Tortoise North American Pipeline Fund 17.6 40 201 6.0 -2.4
FCG First Trust Natural Gas ETF 10.9 60 181 4.0 -4.5
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 7.3 46 195 5.4 -3.1
VRAI Virtus Real Asset Income ETF 5.8 55 186 11.3 +2.8
JHME John Hancock Multifactor Energy ETF 5.0 40 201 3.8 -4.7
FXN First Trust Energy AlphaDEX Fund 5.0 65 176 -0.8 -9.3
RYE Invesco S&P 500 Equal Weight Energy ETF 4.7 40 201 3.7 -4.8
GBDV Global Beta Smart Income ETF 4.5 29 212 8.9 +0.4
XLE Energy Select Sector SPDR Fund 4.4 13 228 4.5 -4.0
IEO iShares U.S. Oil & Gas Exploration & Production ETF 4.3 42 199 3.6 -4.9
CVY Invesco Zacks Multi-Asset Income ETF 4.1 97 144 11.7 +3.3
RDIV Invesco S&P Ultra Dividend Revenue ETF 4.1 39 202 11.3 +2.9
CRAK VanEck Vectors Oil Refiners ETF 4.1 60 181 12.7 +4.2
WBIY WBI Power Factor High Dividend ETF 4.1 70 171 12.5 +4.0
PXE Invesco Dynamic Energy Exploration & Production ETF 4.1 63 178 1.0 -7.5
VDE Vanguard Energy Index Fund 4.0 10 231 3.9 -4.5
IYE iShares U.S. Energy ETF 4.0 42 199 4.0 -4.5
ECLN First Trust EIP Carbon Impact ETF 4.0 96 145 3.9 -4.6
FENY Fidelity MSCI Energy Index ETF 3.9 8 233 4.3 -4.2
XOP SPDR S&P Oil & Gas Exploration & Production ETF 3.7 35 206 3.6 -4.9
DIV Global X SuperDividend US ETF 3.4 46 195 7.1 -1.4
IGE iShares North American Natural Resources ETF 2.9 46 195 4.2 -4.3
ONEY SPDR Russell 1000 Yield Focus ETF 2.4 20 221 9.4 +1.0
FOVL iShares Focused Value Factor ETF 2.4 25 216 10.6 +2.1
IXC iShares Global Energy ETF 2.4 46 195 5.9 -2.6
DVY iShares Select Dividend ETF 2.3 39 202 9.8 +1.3
GURU Global X Guru Index ETF 2.2 75 166 3.9 -4.6
JKI iShares Morningstar Mid-Cap Value ETF 1.9 30 211 9.3 +0.8
RPV Invesco S&P 500 Pure Value ETF 1.8 35 206 11.4 +2.9
FTA First Trust Large Cap Value AlphaDEX Fund 1.8 60 181 9.4 +0.9
BFOR Barron's 400 ETF 1.8 65 176 6.4 -2.1
FILL iShares MSCI Global Energy Producers ETF 1.7 39 202 6.5 -2.0
RYJ Invesco Raymond James SB-1 Equity ETF 1.7 82 159 3.5 -4.9
SPDV AAM S&P 500 High Dividend Value ETF 1.7 29 212 11.0 +2.6
DTN WisdomTree U.S. Dividend ex-Financials Fund 1.5 38 203 8.0 -0.5
SPHB Invesco S&P 500 High Beta ETF 1.4 25 216 9.6 +1.2
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 1.4 49 192 9.4 +1.0
FTXN First Trust Nasdaq Oil & Gas ETF 1.3 60 181 2.2 -6.3
MAGA Point Bridge GOP Stock Tracker ETF 1.3 72 169 6.6 -1.8
SLT Salt TruBeta High Exposure ETF 1.3 29 212 9.6 +1.1
USDY Pacific Global US Equity Income ETF 1.3 29 212 7.3 -1.1
HAP VanEck Vectors Natural Resources ETF 1.2 50 191 6.4 -2.0
GDVD Principal Active Global Dividend Income ETF 1.2 58 183 5.1 -3.3
VLUE iShares Edge MSCI USA Value Factor ETF 1.2 15 226 11.5 +3.1
PWC Invesco Dynamic Market ETF 1.2 59 182 4.9 -3.6
RWL Invesco S&P 500 Revenue ETF 1.1 39 202 7.3 -1.1
FEX First Trust Large Cap Core AlphaDEX Fund 1.1 60 181 6.1 -2.4
GLIF AGFiQ Global Infrastructure ETF 1.1 45 196 5.3 -3.2
FAB First Trust Multi Cap Value AlphaDEX Fund 1.1 71 170 9.7 +1.2
BLES Inspire Global Hope Large Cap ETF 1.1 52 189 6.6 -1.9
EQAL Invesco Russell 1000 Equal Weight ETF 1.1 20 221 5.8 -2.7
GRES IQ Global Resources ETF 1.0 77 164 7.7 -0.8
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 1.0 24 217 6.3 -2.2
PVAL Principal Contrarian Value Index ETF 1.0 29 212 10.2 +1.8
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 0.9 15 226 6.9 -1.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 59 182 11.4 +3.0
GII SPDR S&P Global Infrastructure ETF 0.9 40 201 5.4 -3.1
IGF iShares Global Infrastructure ETF 0.9 46 195 5.4 -3.1
JMIN JPMorgan U.S. Minimum Volatility ETF 0.9 12 229 5.9 -2.6
PY Principal Shareholder Yield Index ETF 0.9 29 212 9.6 +1.2
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 0.9 75 166 6.2 -2.2
IUS Invesco Strategic US ETF 0.8 19 222 6.7 -1.7
DEW WisdomTree Global High Dividend Fund 0.8 58 183 9.4 +1.0
DHS WisdomTree U.S. High Dividend Fund 0.8 38 203 8.7 +0.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.8 9 232 6.0 -2.5
JDIV JPMorgan U.S. Dividend ETF 0.8 12 229 8.0 -0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 0.8 28 213 6.5 -2.0
PKW Invesco Buyback Achievers ETF 0.7 62 179 6.9 -1.6
IWS iShares Russell Mid-Cap Value ETF 0.7 24 217 7.3 -1.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.7 18 223 6.3 -2.2
VLU SPDR S&P 1500 Value Tilt ETF 0.7 12 229 7.6 -0.9
QSY WisdomTree U.S. LargeCap Value Fund 0.7 38 203 7.0 -1.5
TUSA First Trust Total US Market AlphaDEX ETF 0.7 70 171 6.1 -2.4
SPVU Invesco S&P 500 Enhanced Value ETF 0.7 13 228 11.6 +3.1
VYM Vanguard High Dividend Yield Index ETF 0.7 6 235 7.5 -1.0
IWR iShares Russell Midcap ETF 0.7 19 222 5.7 -2.8
IFRA iShares U.S. Infrastructure ETF 0.7 40 201 6.1 -2.4
SPYD SPDR S&P 500 High Dividend ETF 0.7 7 234 10.5 +2.0
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 0.7 30 211 9.8 +1.4
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 0.7 35 206 8.7 +0.3
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 0.7 35 206 8.7 +0.3
TPHD Timothy Plan High Dividend Stock ETF 0.7 52 189 7.8 -0.7
RNDV US Equity Dividend Select ETF 0.7 50 191 7.7 -0.7
INFR Legg Mason Global Infrastructure ETF 0.7 40 201 6.2 -2.3
LVUS Hartford Multifactor Low Volatility US Equity ETF 0.7 19 222 6.1 -2.4
SDOG ALPS Sector Dividend Dogs ETF 0.7 40 201 10.4 +2.0
SPMV Invesco S&P 500 Minimum Variance ETF 0.7 10 231 5.9 -2.6
AIEQ AI Powered Equity ETF 0.7 87 154 3.7 -4.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 0.7 65 176 3.4 -5.1
PFM Invesco Dividend Achievers ETF 0.6 54 187 5.5 -2.9
DTD WisdomTree U.S.Total Dividend Fund 0.6 28 213 6.7 -1.7
SIZE iShares Edge MSCI USA Size Factor ETF 0.6 15 226 6.4 -2.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
InfraCap MLP ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.9 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 241 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.