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InfraCap MLP ETF

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Ticker
AMZA
CUSIP
26923G103
Closing Price
$
(as of 08/20/2019)
Inception
10/01/2014
Premium/Discount
$0.01
(as of 08/20/2019)
4PM Bid/Offer Midpoint
$4.86
(as of 08/20/2019)
Shares Outstanding
77,300,004
(as of 08/20/2019)
Daily Trading Volume
860,700.00
(as of 08/20/2019)
20 Day Average Trading Volume
1,071,925.00
(as of 08/20/2019)
Net Assets
$374,537,123
(as of 08/20/2019)
Investment Overview

The Fund seeks to provide exposure to midstream master limited partnerships (MLPs) with an emphasis on high current income.

Management Team

Investment Partner

Infrastructure Capital Advisors

Infrastructure Capital Advisors, LLC (ICA) is a registered investment advisor that manages an actively managed ETF and a series of hedge funds. The firm was formed in 2012 and is based in New York City.


Investment Professionals
Jay Hatfield
Jay D. Hatfield

Chief Investment Officer

Industry start date: 2000

Start date as fund Portfolio Manager: 2014

Ed Ryan
Edward Ryan

Chief Operating Officer

Industry start date: 1980

Start date as fund Portfolio Manager: 2014

Key Features
Focus on Income

Offers the potential for attractive yields and employs modest leverage to pursue compelling total return results

Actively Managed

Security selection and weightings are based on security-level fundamental analysis and technical factors instead of market capitalization

Enhanced Exposure

Modest leverage (typically 20-30%) is utilized to enhance MLP beta, and options strategies are used in an effort to enhanced current income

Positions & Distributions

Top Issuers (% Fund)
(as of 08/21/2019)
Security
ENERGY TRANSFER LP
15.56
 15.56
MPLX LP
15.05
 15.05
PLAINS ALL AMER PIPELINE LP
12.37
 12.37
ENTERPRISE PRODUCTS PARTNERS
11.49
 11.49
WESTERN MIDSTREAM PARTNERS L
8.50
 8.50
BP MIDSTREAM PARTNERS LP
5.52
 5.52
NOBLE MIDSTREAM PARTNERS LP
5.36
 5.36
TALLGRASS ENERGY LP
4.83
 4.83
EQM MIDSTREAM PARTNERS LP
4.70
 4.70
MAGELLAN MIDSTREAM PARTNERS
4.55
 4.55

Does not include cash/cash equivalents.

Distribution History2
Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
08/21/2018 08/22/2018 08/29/2018 0.110000 0.000000 0.000000 0.110000
09/20/2018 09/21/2018 09/28/2018 0.110000 0.000000 0.000000 0.110000
10/22/2018 10/23/2018 10/30/2018 0.110000 0.000000 0.000000 0.110000
11/20/2018 11/21/2018 11/29/2018 0.110000 0.000000 0.000000 0.110000
12/20/2018 12/21/2018 12/28/2018 0.110000 0.000000 0.000000 0.110000
01/22/2019 01/23/2019 01/30/2019 0.080000 0.000000 0.000000 0.080000
02/20/2019 02/21/2019 02/28/2019 0.080000 0.000000 0.000000 0.080000
03/20/2019 03/21/2019 03/28/2019 0.080000 0.000000 0.000000 0.080000
04/22/2019 04/23/2019 04/30/2019 0.080000 0.000000 0.000000 0.080000
05/20/2019 05/21/2019 05/29/2019 0.080000 0.000000 0.000000 0.080000
06/20/2019 06/21/2019 06/28/2019 0.080000 0.000000 0.000000 0.080000
07/22/2019 07/23/2019 07/30/2019 0.080000 0.000000 0.000000 0.080000
08/20/2019 08/21/2019 08/28/2019 0.080000 0.000000 0.000000 0.080000

Performance & Risk

Performance
Quarterly
As of
Monthly
As of
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so your shares, when redeemed, may be worth more or less than their original cost.

Sales Charge and Expenses
The Expense Ratio represents the fund's Total Annual Fund Operating Expenses, which includes a management fee, structured as a unified fee, out of which the Fund's subadviser pays all routine expenses, except for certain payments as described in the prospectus, which are paid by the Fund. The Fund's accrued deferred tax liability, if any, is included in the Total Annual Fund Operating Expenses, as described in the prospectus and reflected each day in the Fund's NAV.
Fees & Expenses
Management Fee 0.95
Expense Ratio 2.40
The Expense Ratio represents the fund's Total Annual Fund Operating Expenses, which includes a management fee, structured as a unified fee, out of which the Fund's subadviser pays all routine expenses, except for certain payments as described in the prospectus, which are paid by the Fund. The Fund's accrued deferred tax liability, if any, is included in the Total Annual Fund Operating Expenses, as described in the prospectus and reflected each day in the Fund's NAV.
Yields/Distribution Rate
(as of 07/31/2019)
30-day SEC Yield 9.05
Distribution Rate (as of 08/20/2019) 19.81

Premium/Discount
Number of Days Fund has Traded at a:
Discount Premium
Period Less than -2% -1.51% to -2.00% -1.01% to -1.50% -0.51% to -1.00% -0.01% to -0.50% 0.00% to 0.50% 0.51% to 1.00% 1.01% to 1.50% 1.51% to 2.00% Greater than 2%
2017-Q3: 7/3/2017 through 9/29/2017 0 0 0 0 14 46 3 0 0 0
2017-Q4: 10/2/2017 through 12/29/2017 0 0 0 0 18 43 2 0 0 0
2018-Q1: 1/2/2018 through 3/29/2018 0 0 0 2 18 38 3 0 0 0
2018-Q2: 4/2/2018 through 6/29/2018 0 0 0 0 17 45 2 0 0 0
2018-Q3: 7/2/2018 through 9/28/2018 0 0 0 2 29 30 2 0 0 0
2018-Q4: 10/1/2018 through 12/31/2018 0 0 0 4 31 26 1 1 0 0
2019-Q1: 1/2/2019 through 3/29/2019 0 0 0 4 20 34 3 0 0 0
2019-Q2: 4/1/2019 through 6/28/2019 0 0 0 2 29 30 2 0 0 0
Risk Considerations
Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities.
MLP Interest Rates: As yield-based investments, MLPs carry interest rate risk and may underperform in rising interest rate environments. Additionally, when investors have heightened fears about the economy, the risk spread between MLPs and competing investment options can widen, which may have an adverse effect on the stock price of MLPs. Rising interest rates may increase the potential cost of MLPs financing projects or cost of operations, and may affect the demand for MLP investments, either of which may result in lower performance by or distributions from the fund's MLP investments.
Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.
Short Sales: The fund may engage in short sales, and may experience a loss if the price of a borrowed security increases before the date on which the fund replaces the security.
Leverage: When a fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.
Options Overlay Strategy: The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss and, in periods of significant moves in the underlying assets, has resulted and, in the future, may result in losses for investors.
Options: Selling call options may limit the opportunity to profit from the increase in price of the underlying asset. Selling put options risks loss if the option is exercised while the price of the underlying asset is rising. Buying options risks loss of the premium paid for those options.
MLPs: Investments in Master Limited Partnerships may be adversely impacted by tax law changes, regulation, or factors affecting underlying assets.
No Guarantee: There is no guarantee that the portfolio will meet its objective.
Prospectus: For additional information on risks, please see the fund's prospectus.
The Fund's Distribution Rate includes a return of capital. Please refer to periodic Section 19a-1 shareholder notices for estimated amounts and sources of distributions, and please see the fund's annual report for other financial details, including the fund's distribution coverage ratio, for the most recent fiscal year.

Documents & Resources

Marketing Materials
InfraCap MLP ETF Fact Sheet
Leveraging Opportunities in Energy Infrastructure
InfraCap MLP ETF (AMZA) - Distributions and Return of Capital: How Does It Work?
Holdings
Positions AMZA
IOPV Holdings AMZA
Distributions
InfraCap MLP ETF (NYSE: AMZA) Declares Distribution (June 2019)
InfraCap MLP ETF (NYSE: AMZA) Declares Distribution (July 2019)
InfraCap MLP ETF (NYSE: AMZA) Declares Distribution (February 2019)
InfraCap MLP ETF (NYSE: AMZA) Declares Distribution (January 2019)
InfraCap MLP ETF Press-Release - Change to Distribution Policy - January 16, 2019
InfraCap MLP ETF (AMZA) 2019 Distribution Calendar
Financial Materials
InfraCap MLP ETF (AMZA) Prospectus - March 1, 2019
ETFis Series Trust I XBRL 485(b)
ETFis Series Trust I XBRL 497
InfraCap MLP ETF (AMZA) SAI - March 1, 2019
ETFis Series Trust I Annual Report 2018
ETFis Series Trust I Semi-Annual Report - April 2019
InfraCap MLP ETF (AMZA) - Form 8937 - December 2018
Section 19a Notices
InfraCap MLP ETF - AMZA - 19a-1 (July 2019)
InfraCap MLP ETF - AMZA - 19a-1 (June 2019)
InfraCap MLP ETF - AMZA - 19a-1 (April 2019)
InfraCap MLP ETF - AMZA - 19a-1 (March 2019)
InfraCap MLP ETF - AMZA - 19a-1 (Feb 2019)
InfraCap MLP ETF - AMZA - 19a-1 (Jan 2019)
InfraCap MLP ETF - AMZA - 19a-1 (Dec 2018)
InfraCap MLP ETF - AMZA - 19a-1 (Nov 2018)
InfraCap MLP ETF - AMZA - 19a-1 (Oct 2018)
InfraCap MLP ETF - AMZA - 19a-1 (Sept 2018)
InfraCap MLP ETF - AMZA - 19a-1 (Aug 2018)
News Releases/Communications
InfraCap MLP ETF (AMZA) - Distributions and Return of Capital: How Does It Work?

Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Contact us at 1-888-383-0553 or visit www.virtus.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.

The Fund is an actively managed exchange-traded fund (“ETF”) and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Closing Price:
 The Closing Price is the price of the last reported trade on the fund's primary exchange. If there has been no reported trade for a particular date, the Closing Price represents the 4PM Bid/Offer Midpoint. 

4PM Bid/Offer Midpoint: The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00pm Eastern Time).

Premium/Discount: The amount the Fund is trading above or below the reported NAV (based on 4PM Bid/Offer Midpoint).

The Fund is an exchange-traded fund (“ETF”). The “net asset value” (NAV) of the Fund is determined at the close of each business day, and represents the dollar value of one share of the Fund; it is calculated by taking the total assets of the Fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV of the Fund is not necessarily the same as its intraday trading value. Fund investors should not expect to buy or sell shares at NAV because shares of ETFs such as the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Thus, shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

NAV returns are calculated using the Fund’s daily 4:00 p.m. NAV, and include the reinvestment of all dividends and other distributions (reinvested at the Fund's NAV on distribution ex-date). Market price returns are calculated using the 4:00 pm midpoint between the bid and offer, and include the reinvestment of all dividends and other distributions (reinvested at the 4:00pm bid/offer midpoint on distribution ex-date). Market price returns do not represent the return you would receive if you traded at other times.

30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change.

Distribution Rate is the annual rate that an investor would receive if the most recent distribution remained the same going forward. The rate represents a single distribution from the Fund and does not represent total return of the Fund. The distribution rate is calculated by annualizing the most recent distribution and dividing it by the most recent NAV.

2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain

Returns for periods of less than one year are cumulative total returns.

Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.

Distributed by ETF Distributors LLC

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