Overview
Midstream energy MLPs — the pipelines and processing plants collecting tolls on American oil and gas — packaged into a 1099 fund with a 7%+ yield.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| EPD | Enterprise Products | 10.4% |
| ET | Energy Transfer | 10.1% |
| MPLX | MPLX LP | 9.8% |
| PAA | Plains All American | 9.2% |
| WES | Western Midstream | 8.6% |
| SUN | Sunoco LP | 7.4% |
| HESM | Hess Midstream | 6.2% |
| EnLC | EnLink Midstream | 4.8% |
| DTM | DT Midstream | 4.1% |
| GEL | Genesis Energy | 2.9% |
Fund Details
Investment Thesis
Pipelines earn fees on volume, not commodity prices — and with US production at records and AI data centres devouring natural gas, the midstream toll roads are raising distributions again. AMLP converts the tax-nightmare K-1s of the underlying MLPs into a single 1099 while paying over 7% quarterly. The C-corp wrapper leaks some return in taxes; the convenience is what you're buying.
Who It's For
Income-first investors who want energy infrastructure's fat, fee-based distributions without filing K-1 forms. A yield engine for taxable accounts — understand the structural drag before comparing it to the index.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $38.61 | -- |
| 2017 | $34.75 | -10.0% |
| 2018 | $29.54 | -15.0% |
| 2019 | $30.43 | +3.0% |
| 2020 | $20.39 | -33.0% |
| 2021 | $27.11 | +33.0% |
| 2022 | $33.35 | +23.0% |
| 2023 | $40.02 | +20.0% |
| 2024 | $47.22 | +18.0% |
| 2025 | $51.00 | +8.0% |
| Year | Yield |
|---|---|
| 2016 | 10.50% |
| 2017 | 9.80% |
| 2018 | 10.40% |
| 2019 | 9.50% |
| 2020 | 12.00% |
| 2021 | 8.50% |
| 2022 | 7.80% |
| 2023 | 7.60% |
| 2024 | 7.30% |
| 2025 | 7.30% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $10B | -- |
| 2017 | $10B | +0.0% |
| 2018 | $9B | -10.0% |
| 2019 | $8.5B | -5.6% |
| 2020 | $4.5B | -47.1% |
| 2021 | $6B | +33.3% |
| 2022 | $7B | +16.7% |
| 2023 | $8.5B | +21.4% |
| 2024 | $10B | +17.6% |
| 2025 | $12B | +20.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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