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Fund Flows into Top MLP ETFs Fell in the Third Quarter

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Fund flows fell

Fund flows into top MLP ETFs fell significantly in the third quarter. The Alerian MLP ETF (AMLP) had a net outflow of $864 million in the third quarter. The ETF had a net inflow of $912 million in the second quarter and $501 million in the third quarter of 2017. Inflows into the First Trust North American Energy Infrastructure Fund (EMLP) fell to $35 million compared to $161 million in the third quarter of 2017. The Global X MLP ETF (MLPA) saw a net outflow of $6 million compared to an inflow of $70 million in the third quarter of 2017.

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The InfraCap MLP ETF (AMZA) saw a net outflow of $11 million compared to a net inflow of $98 million in the third quarter of 2017. The above graph shows the quarterly fund flows into AMLP, EMLP, MLPA, AMZA, and the Global X MLP and Energy Infrastructure ETF (MLPX) in the past 11 quarters. As the graph shows, the quarterly fund flows into the ETFs were negative for the second time since the first quarter of 2016. The ETFs saw negative quarterly net flows for the first time since 2016 in the first quarter of 2018.

The net year-to-date flows into the five ETFs together was $47 million. The five ETFs together saw net inflows of $2,649 million in the first nine months of 2017.

Energy Transfer Partners (ETP), Enterprise Products Partners (EPD), and Magellan Midstream Partners (MMP) are the top three holdings of AMLP. Together, the three stocks form ~30.5% of the ETF.

Next, let’s see how the top MLP open-end funds fared so far in 2018.

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