The following is a summary from SS&C ALPS Advisors latest Monthly Spotlight
Geopolitical tensions in the Middle East have recently squeezed global oil supplies, redirecting international trade toward the United States and spotlighting the strategic value of US midstream energy infrastructure. In this environment, the Alerian MLP ETF (AMLP) has demonstrated significant strength, outperforming broader markets by capturing the upside of increased US energy exports.
Key takeaways include:
- Global Shift to US Energy: Supply disruptions in the Middle East have driven international buyers to source replacement barrels and refined products from the US, pushing domestic export volumes to record highs.
- Infrastructure Over Commodities: Rather than acting as a direct commodity play, AMLP holds companies that gather, process, transport, and store US energy. This fee-based model offers reliable cash flows while shielding investors from extreme day-to-day crude price volatility.
- Strength Across All Channels: The fund’s diverse holdings—spanning crude oil, natural gas liquids (NGLs), and liquefied natural gas (LNG)—thrived as domestic pipelines, storage tanks, and export docks saw heightened utilization. US midstream operators showcased the immense operating leverage embedded in the domestic logistics system when global supply tightens.
By offering 100% US exposure, AMLP is uniquely positioned to benefit as global energy dependencies shift toward reliable, domestically sourced infrastructure.
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Important Disclosures & Definitions
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus containing this and other information, call 1-866-759-5679 or visit www.alpsfunds.com. Read the prospectus carefully before investing.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable.
Performance data quoted represents past performance. Past performance is no guarantee of future results; current performance may be higher or lower than performance quoted.
All investments are subject to risks, including the loss of money and the possible loss of the entire principal amount invested. Additional information regarding the risks of this investment is available in the prospectus.
Investments in securities of Master Limited Partnerships (MLPs) involve risks that differ from an investment in common stock. MLPs are controlled by their general partners, which generally have conflicts of interest and limited fiduciary duties to the MLP, which may permit the general partner to favor its own interests over the MLPs.
A portion of the benefits you are expected to derive from the Fund’s investment in MLPs depends largely on the MLPs being treated as partnerships for federal income tax purposes. As a partnership, an MLP has no federal income tax liability at the entity level. Therefore, treatment of one or more MLPs as a corporation for federal income tax purposes could affect the Fund’s ability to meet its investment objective and would reduce the amount of cash available to pay or distribute to you. Legislative, judicial, or administrative changes and differing interpretations, possibly on a retroactive basis, could negatively impact the value of an investment in MLPs and therefore the value of your investment in the Fund.
The Fund invests primarily in a particular sector and could experience greater volatility than a fund investing in a broader range of industries.
Investments in the energy infrastructure sector are subject to: reduced volumes of natural gas or other energy commodities available for transporting, processing or storing; changes in the regulatory environment; extreme weather and; rising interest rates which could result in a higher cost of capital and drive investors into other investment opportunities.
The Fund employs a “passive management” - or indexing - investment approach and seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index. Unlike many investment companies, the Fund is not “actively” managed. Therefore, it would not necessarily sell or buy a security unless that security is removed from or added to the underlying index, respectively.
Alerian MLP Index (AMZ): the leading gauge of energy infrastructure MLPs. The capped, float-adjusted, capitalization-weighted index constituents earn the majority of their cash flow from midstream activities involving energy commodities.
Alerian MLP Infrastructure Index (AMZI): a composite of energy infrastructure Master Limited Partnerships (MLPs). The capped, float-adjusted, capitalization-weighted index constituents earn the majority of their cash flow from midstream activities involving energy commodities.
Basis Point (bps): a unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument.
Master Limited Partnership (MLP): a business venture that exists in the form of a publicly traded limited partnership. They combine the tax benefits of a private partnership - profits are taxed only when investors receive distributions - with the liquidity of a publicly traded company.
Tailwind: a certain situation or condition that may lead to higher profits, revenue or growth.
One may not invest directly in an index.
ALPS Advisors, Inc., registered investment adviser with the SEC, is the investment adviser to the Fund. ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc., affiliated entities, are unaffiliated with VettaFi and the Alerian Index Series.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Fund.
Not FDIC Insured • No Bank Guarantee • May Lose Value
ALR002062 07/31/2026
