Latest news with #MLPs
Yahoo
30-05-2025
- Business
- Yahoo
Alerian MLP ETF Tax Update
DENVER, May 30, 2025--(BUSINESS WIRE)--Alerian MLP ETF (the "Fund" or "AMLP") has modified the estimate of the Fund's deferred tax liability based on information reported by the Master Limited Partnerships (MLPs) and recorded a tax accrual adjustment of approximately $(3.6) million (approximately $0.016 per share) into the net asset value (NAV) of the Fund on May 30, 2025. As part of the tax accrual adjustment, the Fund's deferred tax liability (DTL) has decreased primarily due to tax reporting received from the underlying investments that indicates that additional capital loss carryforward is available to offset future taxable income. The Fund will rely to a large extent on information provided by the MLPs, which is largely reported on a delayed basis and is not necessarily timely, to estimate deferred tax liability for purposes of financial statement reporting and determining the NAV. From time to time, the Adviser will modify the estimates or assumptions regarding the Fund's deferred tax liability as new information becomes available and may consider, among other matters, the duration of statutory carryforward periods, shareholder transactions, underlying index constituent changes and market conditions. The Fund's estimates regarding its deferred tax liability are made in good faith; however, the daily estimate of the Fund's deferred tax liability used to calculate the Fund's NAV could vary significantly from the Fund's actual tax liability. ALPS Portfolio Solutions Distributor, Inc. is also the distributor for the Alerian Energy Infrastructure ETF and the ALPS | Alerian Energy Infrastructure Portfolio. Please direct any inquiries to info@ or by calling 1-866-759-5679. Important Disclosures 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 Read the prospectus carefully before investing. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable. 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. All K-1s are received and processed by the Alerian MLP ETF. The Alerian MLP ETF distributes a single Form 1099 to its shareholders. This notice is provided to you for informational purposes only and should not be considered tax advice. Please consult your tax advisor for further assistance. If, due to tax law changes or for other reasons, an MLP in the portfolio is deemed to be taxable as a corporation rather than a partnership for federal income purposes, then income would be subject to federal income taxation at the MLP level. This would reduce the amount of cash available for distribution to the fund which could result in a reduction of the fund's value. The Fund is taxed as a regular corporation for federal income purposes, which reduces the net asset value of fund shares by the accrual of any deferred tax liabilities. Depending on the taxes paid by the fund as a result of income and/or gains from investments and/or the sale of MLP interests, the return on an investment in the Fund will be reduced. This differs from most investment companies, which elect to be treated as "regulated investment companies" to avoid paying entity level income taxes. The ETF is taxed as a regular corporation and is subject to US federal income tax on taxable income at the corporate tax rate (currently as high as 21%) as well as state and local taxes. The Fund is classified for federal income tax purposes as a taxable regular corporation or so-called Subchapter "C" corporation. As a "C" corporation, the Fund accrues deferred tax liability for its future tax liability associated with the capital appreciation of its investments and the distributions received by the Fund on equity securities of master limited partnerships considered to be a return of capital and for any net operating gains. The Fund's accrued deferred tax liability, if any, is reflected each day in the Fund's net asset value per share. The deferred income tax expense/(benefit) represents an estimate of the Fund's potential tax expense/(benefit) if it were to recognize the unrealized gains/(losses) in the portfolio. An estimate of deferred income tax expense/(benefit) is dependent upon the Fund's net investment income/(loss) and realized and unrealized gains/(losses) on investments and such expenses may vary greatly from year to year and from day to day depending on the nature of the Fund's investments, the performance of those investments and general market conditions. Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year. 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. ALPS Advisors, Inc., registered investment adviser with the SEC, is the investment adviser to the Fund. ALPS Advisors, Inc., ALPS Distributors, 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 About SS&C Technologies SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C (Nasdaq: SSNC) is available at About SS&C ALPS Advisors SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies, is a leading provider of investment products for advisors and institutions. With over $28.62 billion under management as of March 31, 2025, SS&C ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit * Christopher Murphy is a Registered Representative of ALPS Distributors, Inc. ALR001941 5/29/2026 View source version on Contacts For More Information Christopher Murphy*Director & Head of Advisor MarketingSS&C ALPS AdvisorsTel: 720-277-7861E-mail: Sign in to access your portfolio
Business Wire
30-05-2025
- Business
- Business Wire
Alerian MLP ETF Tax Update
DENVER--(BUSINESS WIRE)--Alerian MLP ETF (the 'Fund' or 'AMLP') has modified the estimate of the Fund's deferred tax liability based on information reported by the Master Limited Partnerships (MLPs) and recorded a tax accrual adjustment of approximately $(3.6) million (approximately $0.016 per share) into the net asset value (NAV) of the Fund on May 30, 2025. As part of the tax accrual adjustment, the Fund's deferred tax liability (DTL) has decreased primarily due to tax reporting received from the underlying investments that indicates that additional capital loss carryforward is available to offset future taxable income. The Fund will rely to a large extent on information provided by the MLPs, which is largely reported on a delayed basis and is not necessarily timely, to estimate deferred tax liability for purposes of financial statement reporting and determining the NAV. From time to time, the Adviser will modify the estimates or assumptions regarding the Fund's deferred tax liability as new information becomes available and may consider, among other matters, the duration of statutory carryforward periods, shareholder transactions, underlying index constituent changes and market conditions. The Fund's estimates regarding its deferred tax liability are made in good faith; however, the daily estimate of the Fund's deferred tax liability used to calculate the Fund's NAV could vary significantly from the Fund's actual tax liability. ALPS Portfolio Solutions Distributor, Inc. is also the distributor for the Alerian Energy Infrastructure ETF and the ALPS | Alerian Energy Infrastructure Portfolio. Please direct any inquiries to info@ or by calling 1-866-759-5679. Important Disclosures 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 Read the prospectus carefully before investing. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable. 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. All K-1s are received and processed by the Alerian MLP ETF. The Alerian MLP ETF distributes a single Form 1099 to its shareholders. This notice is provided to you for informational purposes only and should not be considered tax advice. Please consult your tax advisor for further assistance. If, due to tax law changes or for other reasons, an MLP in the portfolio is deemed to be taxable as a corporation rather than a partnership for federal income purposes, then income would be subject to federal income taxation at the MLP level. This would reduce the amount of cash available for distribution to the fund which could result in a reduction of the fund's value. The Fund is taxed as a regular corporation for federal income purposes, which reduces the net asset value of fund shares by the accrual of any deferred tax liabilities. Depending on the taxes paid by the fund as a result of income and/or gains from investments and/or the sale of MLP interests, the return on an investment in the Fund will be reduced. This differs from most investment companies, which elect to be treated as 'regulated investment companies' to avoid paying entity level income taxes. The ETF is taxed as a regular corporation and is subject to US federal income tax on taxable income at the corporate tax rate (currently as high as 21%) as well as state and local taxes. The Fund is classified for federal income tax purposes as a taxable regular corporation or so-called Subchapter 'C' corporation. As a 'C' corporation, the Fund accrues deferred tax liability for its future tax liability associated with the capital appreciation of its investments and the distributions received by the Fund on equity securities of master limited partnerships considered to be a return of capital and for any net operating gains. The Fund's accrued deferred tax liability, if any, is reflected each day in the Fund's net asset value per share. The deferred income tax expense/(benefit) represents an estimate of the Fund's potential tax expense/(benefit) if it were to recognize the unrealized gains/(losses) in the portfolio. An estimate of deferred income tax expense/(benefit) is dependent upon the Fund's net investment income/(loss) and realized and unrealized gains/(losses) on investments and such expenses may vary greatly from year to year and from day to day depending on the nature of the Fund's investments, the performance of those investments and general market conditions. Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year. 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. ALPS Advisors, Inc., registered investment adviser with the SEC, is the investment adviser to the Fund. ALPS Advisors, Inc., ALPS Distributors, 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 About SS&C Technologies SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C (Nasdaq: SSNC) is available at About SS&C ALPS Advisors SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies, is a leading provider of investment products for advisors and institutions. With over $28.62 billion under management as of March 31, 2025, SS&C ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit * Christopher Murphy is a Registered Representative of ALPS Distributors, Inc.
Yahoo
22-05-2025
- Business
- Yahoo
3 Oil & Gas Pipeline MLP Stocks to Gain Despite Industry Gloom
Although the midstream energy sector is less vulnerable to oil and gas prices, the outlook for the Zacks Oil and Gas - Pipeline MLP industry remains uncertain. Conservatism in capital expenditures by upstream companies could lower the utilization of midstream assets. Additionally, a significant debt burden continues to hinder the ability of midstream energy companies to fund new projects and weather economic the challenges, pipeline players are in a stronger position than upstream and downstream firms, as they benefit from steady, fee-based income through long-term contracts with shippers. Leading companies in the sector include Enterprise Products Partners LP EPD, Energy Transfer LP ET and Plains All American Pipeline LP PAA. About the Industry The Zacks Oil and Gas - Pipeline MLP industry comprises master limited partnerships (or MLPs) that primarily transport oil, natural gas, refined petroleum products and natural gas liquids (NGL) to consumers in North America. Apart from transporting the commodities, the partnerships have huge capacities to store oil, natural gas and petrochemical products. The partnerships thus provide midstream services to producers and consumers of the commodities. The firms generate stable fee-based revenues from all these transportation and storage assets. The services provided by the MLPs entail the gathering and processing of commodities. The integrated midstream energy players also generate cashflows from ownership interests in fractionators and condensate distillation facilities. What's Shaping the Future of Oil & Gas - Production & Pipelines Industry? The industry is inherently capital-intensive, as evident in the debt-to-capitalization ratio of 55%, where borrowing is a common practice to finance large infrastructure projects. However, elevated leverage can constrain financial flexibility, hindering midstream energy companies' capacity to invest in new developments, navigate economic downturns, or address unforeseen costs. Energy majors will increasingly face challenges in providing sustainable energy to the world while reducing greenhouse gas emissions. Thus, to address the issues of climate change, there will be a gradual shift from fossil fuel to renewable energy. This will lower the demand for the partnerships' pipeline and storage networks for oil and natural gas. Oil and gas exploration and production companies are facing heightened pressure from investors to focus on stockholders' returns rather than production. This is hindering the production growth of commodities, thereby denting the demand for pipeline and storage assets. Zacks Industry Rank Indicates Weak Prospects The Zacks Oil and Gas - Pipeline MLP industry is a six-stock group within the broader Zacks Oil - Energy sector. The industry currently carries a Zacks Industry Rank #162, which places it in the bottom 34% of more than 250 Zacks industries. The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. The industry's position in the bottom 50% of the Zacks-ranked industries forms an unfavorable earnings outlook for the constituent stocks in aggregate. Before we present a few stocks that you may want to consider, let's look at the industry's recent stock market performance and its valuation picture. Industry Outperforms Sector & S&P 500 The Zacks Oil and Gas - Pipeline MLP industry has outperformed the broader Zacks Oil - Energy sector and the Zacks S&P 500 Composite over the past year. The industry has rallied 17.5% in the past year against a decline of 4.1% of the broader sector and an improvement of 12.4% of the S&P 500. One-Year Price Performance Industry's Current Valuation Since midstream-focused oil and gas partnerships use fixed-rate debt for the majority of their borrowings, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio. This is because the valuation metric takes into account not just equity but also the level of debt. For capital-intensive stocks, EV/EBITDA is a better valuation metric because it is not influenced by changing capital structures and ignores the effect of noncash expenses. On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), the industry is currently trading at 11.47X, lower than the S&P 500's 16.51X. It is, however, significantly above the sector's trailing 12-month EV/EBITDA of 4.56X. Over the past five years, the industry has traded as high as 12.88X and as low as 7.48X, with a median of 9.95X. Trailing 12-Month Enterprise Value-to EBITDA (EV/EBITDA) Ratio 3 Oil & Gas Pipeline MLPs to Gain Enterprise Products, a top-tier North American midstream service provider, boasts a vast and diversified asset portfolio. This includes more than 50,000 miles of pipelines and a storage capacity of 300 million barrels. These assets are utilized by shippers on long-term contracts to transport and store natural gas liquids, crude oil, refined products and petrochemicals. The partnership, carrying a Zacks Rank #3 (Hold), also has 14 billion cubic feet of natural gas storage capacity, securing stable fee-based revenues. Additionally, EPD is set to generate additional fee-based earnings with $7.6 billion worth of major capital projects either currently in service or under construction. These project backlogs will not only ensure stable cashflows but will also generate handsome unitholder returns. Price and Consensus: EPD Energy Transfer has a stable business model with its huge pipeline network of natural gas, oil and refined petroleum products across 125,000 miles. The partnership has midstream assets in all the key basins in the United States, generating stable fee-based revenues. Energy Transfer, carrying a Zacks Rank #2 (Buy), has offered a higher dividend yield than the composite stocks belonging to the industry over the past year. For this year, the partnership is likely to see earnings growth of 12.5%. Price and Consensus: ET Plains All American Pipeline also enjoys stable fee-based revenues, banking on its oil and natural gas pipeline network and storage assets. In 2025, the #3 Ranked stock is likely to see top-line growth of 5.1%. You can see the complete list of today's Zacks #1 Rank stocks here. Price and Consensus: PAA Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
21-05-2025
- Business
- Globe and Mail
The Smartest High-Dividend Energy Stocks to Buy With $1,000 Right Now
For investors trying to find high-yield stocks that can help supplement their income, the midstream energy space is one of the best sectors to look at. Meanwhile, $1,000 is a good starting point for investors to begin accumulating positions. The following stocks all have solid opportunities in front of them, but it's worth noting that they all carry similar risks. Pipeline companies are generally considered energy toll roads with minimal exposure to energy prices. However, lower energy prices can eventually cause lower volumes through their systems, and customer stress can lead to contracts being renegotiated in severe situations. The midstream business is also capital intensive, so these companies do carry debt. As such, the stocks are not risk-free investments. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » With that said, let's look at three great stocks you can begin accumulating right now. Energy Transfer Energy Transfer (NYSE: ET) has one of the highest yields and one of the cheapest valuations in the midstream space. The stock carries a 7.3% yield, while it's valued at a forward enterprise value (EV) -to- EBITDA multiple of just 8.1 times. Before the pandemic, midstream master limited partnerships (MLPs) traded at an average 13.7x EV/EBITDA multiple between 2011 and 2016. While growth may have slowed slightly in the sector, it has begun to pick back up, and the sector as a whole is in some of the best financial shape it has ever been in. For its part, Energy Transfer got a bit over its skis with debt during the pandemic's height and had to cut its distribution in half. However, it worked quickly to improve its leverage, and its distribution is now higher than before it reduced it in 2020. Last quarter, Energy Transfer declared that its balance sheet was in the strongest position in its history and that it had its highest ever percentage of take-or-pay contracts. For these contracts, it gets paid whether or not a customer uses its pipelines or services. The company is also seeing a lot of growth opportunities stemming from increased natural gas demand. As such, it has ramped up its growth capital expenditure (capex) spending from $3 billion last year to $5 billion this year. Most of its growth projects will come online late this year or next, giving it a strong runway of growth for the next couple of years. Enterprise Products Partners A model of consistency, Enterprise Products Partners (NYSE: EPD) has been able to increase its distribution for 26 straight years through a number of economic and energy downturns. The company has a largely fee-based business, and it also likes to attach take-or-pay provisions to its contracts. Enterprise has one of the best balance sheets in the midstream space, and it has also been increasing its growth capex spending. After dropping it to $1.6 billion in 2022, it plans to spend between $4 billion and $4.5 billion in growth projects this year, up from $3.9 billion a year ago. It currently has $6 billion in projects that are expected to come online this year, which should help provide it with some solid growth moving forward. At a forward EV-to-EBITDA multiple of 10 times, Enterprise's stock trades at a higher valuation than Energy Transfer, but it is still well below past historical levels. The stock has also generally garnered a premium due to its consistency. With a 6.6% yield and a consistently growing distribution, Enterprise is a stock that long-term investors can sleep well at night owning. MPLX MPLX (NYSE: MPLX) is another midstream stock with a high yield and strong balance sheet. It ended last quarter with only 3.3 times leverage (face value of total debt divided by trailing 12-month adjusted EBITDA) and a distribution coverage ratio of 1.5 times. It's also grown its distribution by 10% or more each of the past three years, including by 12.5% in 2024. The company operates in two segments -- natural gas and NGL services, and crude oil and products logistics. On the crude side, it supports its parent refiner, Marathon Petroleum, so this part of its operations is very well protected from market swings. Meanwhile, most of its growth opportunities are coming from the natural gas and NGL (natural gas liquids) side of its business. It's taken its growth capex budget up to $1.7 billion this year, up from $889 million in 2024, with 85% of its spending going toward its natural gas and NGL services segments. MPLX has also been expanding through bolt-on acquisitions. It is currently in the process of buying the remaining 55% interest in the BANGL pipeline system that it does not currently own. The BANGL system transports NGLs from the Permian basin to fractionation markets along the Gulf Coast, and is expected to enhance MPLX's strategic position within the Permian. The stock currently has a 7.4% yield, and the company indicated that it will be able to continue its current double-digit pace of distribution increases into the future. With a forward EV-to-EBITDA multiple of 10.3 times, the stock is reasonably valued. Should you invest $1,000 in Energy Transfer right now? Before you buy stock in Energy Transfer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Energy Transfer wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor 's total average return is975% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
Business Wire
14-05-2025
- Business
- Business Wire
Alerian Energy Infrastructure ETF Declares Second Quarter Distribution of $0.37707
DENVER--(BUSINESS WIRE)--The Alerian Energy Infrastructure ETF (NYSE Arca: ENFR) declared its second quarter 2025 distribution of $0.37707 on Tuesday, May 13, 2025. The dividend is payable on May 19, 2025 to shareholders of record on May 14, 2025. ENFR Distributions: Ex-Date: Wednesday, May 14, 2025 Record Date: Wednesday, May 14, 2025 Payable Date: Monday, May 19, 2025 ALPS Portfolio Solutions Distributor, Inc. is also the distributor for the Alerian MLP ETF and the ALPS | Alerian Energy Infrastructure Portfolio. Please direct any inquiries to info@ or by calling 1-866-759-5679. Important Disclosures 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 Read the prospectus carefully before investing. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemable. 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. The Fund may be subject to risks relating to its investment in Canadian securities. Because the Fund will invest in securities denominated in foreign currencies and the income received by the Fund will generally be in foreign currency, changes in currency exchange rates may negatively impact the Fund's return. 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. 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 About SS&C Technologies SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C (Nasdaq: SSNC) is available at About SS&C ALPS Advisors SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies, is a leading provider of investment products for advisors and institutions. With over $28.62 billion under management as of March 31, 2025, SS&C ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit
