VanEck Vectors High Income MLP ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.2x P/Sales
ratio
0.9x
P/BV
ratio
1.8x Div.
yield
8.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Yorkville High Income MLP is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Solactive High Income MLP Index.

FUND BASICS
Category US Equities
Fund Sponsor Yorkville ETF Advisors LLC
Website www.yetfs.com
Inception date Mar 13, 2012
Assets (mns) $30
Currency USD
Expense ratio 45 bp
Distributions Quarterly

FUND STRUCTURE
Regulation C Corporation
Custodian
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $28,242
Large cap (>$10bn) 67.1%
Mid cap ($2-10bn) 32.6%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TRANSCANADA CORP 8.8 %
ENBRIDGE INC 8.5 %
KINDER MORGAN INC 7.6 %
ONEOK INC 6.8 %
PEMBINA PIPELINE CORP 6.1 %
WILLIAMS COS INC 5.5 %
KEYERA CORP 4.9 %
TARGA RESOURCES CORP 4.7 %
CHENIERE ENERGY INC 4.4 %
ENERGY TRANSFER EQUITY LP 4.4 %
Total 61.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 64.5 %
CANADA 35.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.1% 0.9% -13.4% -- -11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.96 50%
MSCI EAFE 1.04 48%
MSCI Emg. Mkts. 0.70 38%

Technical Indicators
Recent close $15.34
30d moving avg. $17.90
Annualized volatility 16.5%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.1%
Relative strength (RSI) 28

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.7%
Bid/Ask (% of price) 0.74%
ADV underlying (mns) $2,295

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 18 potential alternatives to the VanEck Vectors High Income MLP ETF ETF based on the alternatives' overlap in portfolio holdings with YMLP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: YMLP Expense: 45 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH YMLP
Ticker Fund
Name
Overlap1
vs YMLP
(%)
Expense
ratio
(bp)
Savings
vs YMLP
(bp)
ALTAR
Score™
(%)
ALTAR
vs YMLP
(%)
ENFR Alerian Energy Infrastructure ETF 85.5 55 -10 5.2 -0.3
USAI Pacer American Energy Independence ETF 81.7 75 -30 4.1 -1.4
MLPX Global X MLP & Energy Infrastructure ETF 81.6 45 0 5.4 -0.1
TPYP Tortoise North American Pipeline Fund 71.1 40 5 5.4 -0.1
EMLP First Trust North American Energy Infrastructure Fund 42.5 95 -50 5.1 -0.4
GHII Invesco S&P High Income Infrastructure ETF 32.2 45 0 4.3 -1.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 30.2 46 -1 5.2 -0.3
AMZA InfraCap MLP ETF 26.4 240 -195 8.5 +3.0
AMLP The Alerian MLP ETF 26.0 85 -40 8.7 +3.2
GLIF AGFiQ Global Infrastructure ETF 22.3 45 0 5.0 -0.5
MLPA Global X MLP ETF 22.3 45 0 9.0 +3.5
IGF iShares Global Infrastructure ETF 20.3 46 -1 4.9 -0.6
FTXN First Trust Nasdaq Oil & Gas ETF 20.1 60 -15 6.0 +0.5
GII SPDR S&P Global Infrastructure ETF 20.0 40 5 5.0 -0.5
INFR Legg Mason Global Infrastructure ETF 18.6 40 5 5.4 -0.1
JHME John Hancock Multifactor Energy ETF 17.1 40 5 4.7 -0.8
PXI Invesco DWA Energy Momentum ETF 16.3 60 -15 3.2 -2.3
IXC iShares Global Energy ETF 13.1 46 -1 6.7 +1.2

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

Content on this tab for subscribers only

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:
VanEck Vectors High Income MLP ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.8 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.56
 
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.