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How Top MLP Open-End Funds Have Fared in 2018

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MLPFX and MLPDX

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.

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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