How Top MLP Open-End Funds Have Fared in 2018




The Oppenheimer Steelpath MLP Select 40 Fund (MLPFX) and the Oppenheimer Steelpath MLP Income Fund (MLPDX) have generated positive YTD (year-to-date) returns of 0.5% and 1.2%, respectively. The two funds offer a yield of 8.7% and 11.1%, respectively. MLPFX and MLPDX are among the top MLP open-end funds. Both have assets under management of ~$3.5 billion.

Energy Transfer Partners (ETP), Tallgrass Energy (TGE), TC PipeLines (TCP), Genesis Energy (GEL), and Energy Transfer Equity (ETE) are the top five holdings of MLPFX. Together, the five form ~26.4% of the fund’s assets. ETP, Sunoco (SUN), NuStar Energy (NS), GEL, and EnLink Midstream Partners (ENLK) are MLPDX’s top five holdings.

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Tortoise MLP and Pipeline Fund

The Tortoise MLP and Pipeline Fund (TORTX) has generated returns of -0.3% YTD. The fund has $4.2 billion of assets under management and yields 2.4%. TORTX has just 24% of its portfolio allocated to MLPs. Williams Companies (WMB), ONEOK (OKE), Cheniere Energy (LNG), Kinder Morgan (KMI), and TransCanada (TRP) are the fund’s top five holdings, forming ~40.2% of the portfolio.

The Center Coast Brookfield MLP Focus (CCCAX) and the Oppenheimer Steelpath MLP Alpha Fund (MLPAX) have generated YTD returns of -2.9% and -1.1%, respectively. The two funds have $2.6 billion and $2.4 billion of assets under management. CCCAX yields ~9.5%, and MLPAX has a yield of ~8.5%.

Let’s next take a look at the performance of top MLP-focused close-end funds.


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