EMLP
First Trust North American Energy Infrastructure Fund
First Trust North American Energy Infrastructure Fund is an exchange-traded fund incorporated in the USA. The fund will invest in publicly-traded master limited partnerships ("MLPs"), MLP affiliates, Canadian income trusts, pipeline companies, utilities, and other companies that derive at least 50% of their revenues from infrastructure assets such as pipelines.
Global
EQUITY
Active
MANAGEMENT STYLE
$ 3.9 B
ASSETS UNDER MGMT
95 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust Advisors LP |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 20, 2012 |
| Assets (mns) | $3,933 |
| Expense ratio | 95 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ENERGY TRANSFER, L.P. | 7.2 % |
| ENTERPRISE PRODUCTS PARTNERS | 6.9 % |
| US DOLLAR | 5.3 % |
| MPLX LP | 4.3 % |
| KINDER MORGAN INC | 3.8 % |
| PLAINS GP HOLDINGS LP CLASS A | 3.7 % |
| NATIONAL FUEL GAS CO | 3.6 % |
| SOUTHERN CO | 2.9 % |
| PPL CORPORATION | 2.7 % |
| ENTERGY CORP | 2.3 % |
Constituent Breakdown
| Number of holdings | 64 |
| Herfindahl-Hirschman Index | 286 |
| Wgt avg mkt cap (mns) | $40,066 |
| Large cap (>$10bn) | 69.8% |
| Mid cap ($2-10bn) | 23.1% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 94.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 89.2 % |
 |
CANADA | 4.7 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 15.6% | 17.0% | 25.0% | 17.9% | 15.7% | 7.8% | -- | 6.0% |
| Dividend Yield | 0.0% | 2.9% | 3.8% | 4.0% | 3.9% | 4.1% | -- | 3.9% |
| Total Returns | 15.6% | 19.8% | 28.8% | 21.9% | 19.6% | 11.9% | -- | 9.9% | Ann. Volatility | 10.7% | 13.8% | 13.2% | 13.2% | 14.6% | 17.8% | -- | 17.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.44 | 37% |
| MSCI EAFE | 0.52 | 37% |
| MSCI Emg Mkts | 0.38 | 24% |
Liquidity Measures
| Avg. volume (000) | 295 |
| ADV traded (mns) | $13 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| 30d moving avg. (EMA) | $41.47 |
| Relative strength (RSI) | 76 |
| MACD/Signal | 1.08/1.01 |
| Bollinger Bands (Upper/Lower) | $44.48/$39.47 |
| Short interest (% of AUM) | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EMLP |
Expenses vs. EMLP |
ALTAR Score™ vs. EMLP |
|---|---|---|---|---|
| EIPI | FT Energy Income Partners Enhanced Income ETF | 68.8% | +15 bp | +5.7% |
| FPWR | First Trust EIP Power Solutions ETF | 68.2% | +1 bp | +4.7% |
| EIPX | FT Energy Income Partners Strategy ETF | 61.0% | 0 bp | +6.4% |
| VPU | Vanguard Utilities ETF | 35.5% | -86 bp | +5.0% |
| FUTY | Fidelity MSCI Utilities Index ETF | 35.4% | -87 bp | +5.0% |
| FXU | First Trust Utilities AlphaDEX Fund | 35.1% | -31 bp | +5.4% |
| IDU | iShares U.S. Utilities ETF | 34.1% | -55 bp | +4.5% |
| TPYP | Tortoise North American Pipeline Fund | 33.9% | -55 bp | +5.2% |
| UMI | USCF Midstream Energy Income Fund ETF | 33.2% | -10 bp | +4.6% |
| ENFR | Alerian Energy Infrastructure ETF | 33.2% | -60 bp | +5.0% |
Risk and Returns: EMLP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 3/9/2026
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
EMLP
5.0%
Cat. Avg
4.6%
ALTAR Score™ Calculation
Category Overview
There are 568 funds in the Global Equity category, with an average ALTAR Score™
of 4.6% and a standard deviation of
2.7%. EMLP's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places EMLP in the 57th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EMLPSELL
U/W
HOLD
O/W
BUY