Alerian Energy Infrastructure ETF
ALTAR
Score™
5.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.1x P/Sales
ratio
0.6x
P/BV
ratio
1.5x Div.
yield
8.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Alerian Energy Infrastructure ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the Alerian Infrastructure Index, which is comprised of 30 equity securities of issuers headquartered or incorporated in the United States and Canada that engage in the transportation, storage, and processing of energy commodities ("midstream energy businesses").

FUND BASICS
Category US Equities
Fund Sponsor ALPS Advisors Inc
Website www.alpsetfs.com
Inception date Oct 31, 2013
Assets (mns) $38
Currency USD
Expense ratio 65 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon/The
Weighting Tiered
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 36
Wgt avg mkt cap (mns) $22,199
Large cap (>$10bn) 66.7%
Mid cap ($2-10bn) 25.9%
Small cap (<$2bn) 7.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TRANSCANADA CORP 9.9 %
ENBRIDGE INC 9.8 %
ENTERPRISE PRODUCTS PARTNERS 8.8 %
KINDER MORGAN INC 8.1 %
WILLIAMS COS INC 6.4 %
CHENIERE ENERGY INC 5.7 %
ENERGY TRANSFER EQUITY LP 5.4 %
PEMBINA PIPELINE CORP 5.1 %
ONEOK INC 4.5 %
PLAINS GP HOLDINGS LP CLASS A 4.5 %
Total 68.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 65.2 %
CANADA 33.7 %









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.
-30.6% -30.8% -7.6% -- -5.0%

Market Correlations
versus... Beta R-squared
S&P500 1.76 68%
MSCI EAFE 1.86 66%
MSCI Emg. Mkts. 1.40 58%

Technical Indicators
Recent close $13.88
30d moving avg. $14.58
Annualized volatility 36.3%
Short interest (ETF) 2.3%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 30
Turnover 1.1%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $2,756

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ENFR Expense: 65 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ENFR
Ticker Fund
Name
Overlap1
vs ENFR
(%)
Expense
ratio
(bp)
Savings
vs ENFR
(bp)
ALTAR
Score™
(%)
ALTAR
vs ENFR
(%)
USAI Pacer American Energy Independence ETF 76.7 75 -10 2.7 -2.4
MLPX Global X MLP & Energy Infrastructure ETF 75.5 45 20 3.8 -1.4
TPYP Tortoise North American Pipeline Fund 70.3 40 25 6.0 +0.9
YMLP VanEck Vectors High Income MLP ETF 61.8 45 20 5.3 +0.2
EMLP First Trust North American Energy Infrastructure Fund 37.8 96 -31 5.7 +0.6
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 24.5 46 19 5.4 +0.2
AMLP The Alerian MLP ETF 23.9 87 -22 8.5 +3.3
AMZA InfraCap MLP ETF 23.8 241 -176 8.7 +3.5
MLPA Global X MLP ETF 23.4 46 19 8.4 +3.3
IGF iShares Global Infrastructure ETF 19.8 46 19 5.3 +0.2
GII SPDR S&P Global Infrastructure ETF 19.5 40 25 5.3 +0.2
PXI Invesco DWA Energy Momentum ETF 18.9 60 5 4.1 -1.1
GLIF AGFiQ Global Infrastructure ETF 18.5 45 20 5.2 +0.1
ZMLP Direxion Zacks MLP High Income Shares 16.1 81 -16 4.3 -0.8
FTXN First Trust Nasdaq Oil & Gas ETF 15.1 60 5 2.1 -3.0
JHME John Hancock Multifactor Energy ETF 14.0 40 25 3.7 -1.4
IXC iShares Global Energy ETF 13.2 46 19 5.8 +0.7
RYE Invesco S&P 500 Equal Weight Energy ETF 12.1 40 25 3.6 -1.6
FENY Fidelity MSCI Energy Index ETF 11.4 8 57 4.2 -0.9
VDE Vanguard Energy Index Fund 11.1 10 55 3.9 -1.3
IYE iShares U.S. Energy ETF 11.1 42 23 4.0 -1.2
XLE Energy Select Sector SPDR Fund 10.4 13 52 4.5 -0.7
FLCA Franklin FTSE Canada ETF 9.9 9 56 7.4 +2.2
FXN First Trust Energy AlphaDEX Fund 9.0 65 0 -0.8 -5.9
QCAN SPDR MSCI Canada Quality Mix ETF 9.0 14 51 7.2 +2.0
BBCA JPMorgan BetaBuilders Canada ETF 8.8 19 46 7.1 +2.0
EWC iShares MSCI Canada ETF 8.7 49 16 6.9 +1.8
INFR Legg Mason Global Infrastructure ETF 7.7 40 25 6.1 +0.9
PID Invesco International Dividend Achievers ETF 7.3 54 11 9.7 +4.6
IGE iShares North American Natural Resources ETF 7.2 46 19 4.1 -1.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.0 47 18 6.5 +1.3
IEO iShares U.S. Oil & Gas Exploration & Production ETF 7.0 42 23 3.5 -1.7
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 6.6 30 35 9.8 +4.7
VRAI Virtus Real Asset Income ETF 6.2 55 10 11.2 +6.1
ABEQ Absolute Core Strategy ETF 5.3 85 -20 4.7 -0.4
DIV Global X SuperDividend US ETF 4.8 46 19 7.1 +1.9
DTN WisdomTree U.S. Dividend ex-Financials Fund 4.3 38 27 8.0 +2.8
IFRA iShares U.S. Infrastructure ETF 4.2 40 25 6.1 +0.9
SPYD SPDR S&P 500 High Dividend ETF 4.2 7 58 10.4 +5.3
GURU Global X Guru Index ETF 4.0 75 -10 3.9 -1.3
SDOG ALPS Sector Dividend Dogs ETF 4.0 40 25 10.4 +5.2
FID First Trust S&P International Dividend Aristocrats ETF 4.0 60 5 9.8 +4.7
FIDI Fidelity International High Dividend ETF 3.8 39 26 11.0 +5.9
YLDE ClearBridge Dividend Strategy ESG ETF 3.7 60 5 5.0 -0.1
DES WisdomTree U.S. SmallCap Dividend Fund 3.7 38 27 8.8 +3.7
CSD Invesco S&P Spin-Off ETF 3.4 62 3 6.4 +1.3
PEY Invesco High Yield Equity Dividend Achievers ETF 3.3 53 12 9.2 +4.0
FDVV Fidelity Core Dividend ETF 3.2 29 36 7.2 +2.0
WDIV SPDR Global Dividend ETF 3.2 40 25 9.9 +4.7
JDIV JPMorgan U.S. Dividend ETF 3.1 12 53 7.9 +2.8
ECLN First Trust EIP Carbon Impact ETF 2.9 96 -31 3.8 -1.3
CVY Invesco Zacks Multi-Asset Income ETF 2.8 97 -32 11.6 +6.5
FOVL iShares Focused Value Factor ETF 2.8 25 40 10.6 +5.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 2.7 29 36 7.2 +2.1
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 2.7 35 30 8.7 +3.6
MOAT VanEck Vectors Morningstar Wide Moat ETF 2.7 49 16 6.4 +1.3
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 2.4 45 20 10.0 +4.9
PUI Invesco DWA Utilities Momentum ETF 2.3 60 5 4.7 -0.4
TPHD Timothy Plan High Dividend Stock ETF 2.2 52 13 7.7 +2.6
DEW WisdomTree Global High Dividend Fund 2.2 58 7 9.4 +4.2
XTN SPDR S&P Transportation ETF 2.2 35 30 5.7 +0.6
GRES IQ Global Resources ETF 2.1 77 -12 7.6 +2.5
EQRR ProShares Equities for Rising Rates ETF 2.1 35 30 6.1 +1.0
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 2.1 35 30 8.7 +3.5
RYJ Invesco Raymond James SB-1 Equity ETF 2.1 82 -17 3.5 -1.6
PVAL Principal Contrarian Value Index ETF 2.0 29 36 10.2 +5.0
JKI iShares Morningstar Mid-Cap Value ETF 2.0 30 35 9.3 +4.1
EQAL Invesco Russell 1000 Equal Weight ETF 1.9 20 45 5.7 +0.6
GBDV Global Beta Smart Income ETF 1.9 29 36 8.8 +3.7
JKL iShares Morningstar Small Cap Value ETF 1.9 30 35 10.5 +5.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 1.8 20 45 11.1 +6.0
RDIV Invesco S&P Ultra Dividend Revenue ETF 1.8 39 26 11.2 +6.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 1.8 19 46 6.1 +1.0
FNK First Trust Mid Cap Value AlphaDEX Fund 1.7 70 -5 10.4 +5.2
JMIN JPMorgan U.S. Minimum Volatility ETF 1.7 12 53 5.9 +0.8
WLDR Affinity World Leaders Equity ETF 1.7 47 18 9.7 +4.5
FTA First Trust Large Cap Value AlphaDEX Fund 1.7 60 5 9.3 +4.2
HAP VanEck Vectors Natural Resources ETF 1.6 50 15 6.4 +1.2
DVY iShares Select Dividend ETF 1.6 39 26 9.7 +4.6
BFOR Barron's 400 ETF 1.6 65 0 6.4 +1.3
GCOW Pacer Global High Dividend ETF 1.6 60 5 10.4 +5.2
RFDA RiverFront Dynamic US Dividend Advantage ETF 1.5 52 13 5.1 -0.1
ISDX Invesco Strategic Developed ex-US ETF 1.5 23 42 7.6 +2.4
VYMI Vanguard International High Dividend Yield ETF 1.4 32 33 10.3 +5.1
QDIV Global X S&P 500 Quality Dividend ETF 1.4 20 45 7.7 +2.5
PWV Invesco Dynamic Large Cap Value ETF 1.4 55 10 8.9 +3.8
NUMV Nuveen ESG Mid-Cap Value ETF 1.4 40 25 7.8 +2.7
ONEY SPDR Russell 1000 Yield Focus ETF 1.3 20 45 9.4 +4.2
MAGA Point Bridge GOP Stock Tracker ETF 1.3 72 -7 6.6 +1.4
FCTR First Trust Lunt U.S. Factor Rotation ETF 1.3 65 0 3.4 -1.8
FCG First Trust Natural Gas ETF 1.3 60 5 3.8 -1.3
FAB First Trust Multi Cap Value AlphaDEX Fund 1.3 71 -6 9.7 +4.5
DWX SPDR S&P International Dividend ETF 1.3 45 20 8.0 +2.9
DHS WisdomTree U.S. High Dividend Fund 1.3 38 27 8.7 +3.5
HDV iShares Core High Dividend ETF 1.3 8 57 6.8 +1.6
LVHI Legg Mason International Low Volatility High Dividend ETF 1.2 40 25 9.2 +4.1
VOT Vanguard Mid-Cap Growth Index Fund 1.2 7 58 3.5 -1.6
IGRO iShares International Dividend Growth ETF 1.2 22 43 8.1 +3.0
DON WisdomTree U.S. MidCap Dividend Fund 1.2 38 27 7.8 +2.6
AIEQ AI Powered Equity ETF 1.2 87 -22 3.7 -1.4

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:
Alerian Energy Infrastructure ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.8 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 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.