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Exchange Traded Fund Alternative Mid-Stream Energy

InfraCap MLP ETF

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Ticker
AMZA
CUSIP
26923G772
Inception
10/01/2014
Closing Price
$
(as of 09/21/2021)
30-Day Median Bid/Ask Spread
0.45% (as of 09/21/2021)
Premium/Discount
$0.05 (as of 09/21/2021)
4PM Bid/Offer Midpoint
$24.47 (as of 09/21/2021)
Shares Outstanding
10,690,000 (as of 09/21/2021)
Daily Trading Volume
83,300.00 (as of 09/21/2021)
20 Day Average Trading Volume
70,770.00 (as of 09/21/2021)
Net Assets
$260,950,884 (as of 09/21/2021)

Portfolio Overview

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.


Learn more about Infrastructure Capital Advisors

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 provide a source of income

Positions & Distributions

Top Holdings (% Fund)

(as of 09/22/2021)
Security
MPLX LP
19.21
 19.21
WESTERN MIDSTREAM PARTNERS L
12.58
 12.58
MAGELLAN MIDSTREAM PARTNERS
12.41
 12.41
ENTERPRISE PRODUCTS PARTNERS
11.14
 11.14
PLAINS ALL AMER PIPELINE LP
10.30
 10.30
PHILLIPS 66 PARTNERS LP
10.14
 10.14
NUSTAR ENERGY LP
10.05
 10.05
DCP MIDSTREAM LP
8.24
 8.24
BP MIDSTREAM PARTNERS LP
6.74
 6.74
ENERGY TRANSFER LP
5.95
 5.95

Performance & Risk

Performance

As of
As of

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 Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus. The Fund's accrued deferred tax liability, if any, is included in the Total Annual Fund Operating Expenses and is reflected each day in the Fund's NAV.

Fees & Expenses

Management Fee 0.95
Total Expense Ratio 2.01
The Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus. The Fund's accrued deferred tax liability, if any, is included in the Total Annual Fund Operating Expenses and is reflected each day in the Fund's NAV.

Yields/Distribution Rate

(as of 08/31/2021)
30-day SEC Yield 9.88
Distribution Rate (as of 09/21/2021) 10.81

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
09/21/2020 09/22/2020 09/29/2020 0.000000 0.000000 0.000000 0.240000
10/20/2020 10/21/2020 10/28/2020 0.000000 0.000000 0.000000 0.240000
11/20/2020 11/23/2020 11/30/2020 0.000000 0.000000 0.000000 0.220000
01/04/2021 01/05/2021 01/08/2021 0.000000 0.000000 0.000000 0.220000
01/20/2021 01/21/2021 01/28/2021 0.000000 0.000000 0.000000 0.220000
02/22/2021 02/23/2021 02/26/2021 0.000000 0.000000 0.000000 0.220000
03/22/2021 03/23/2021 03/30/2021 0.000000 0.000000 0.000000 0.220000
04/20/2021 04/21/2021 04/28/2021 0.000000 0.000000 0.000000 0.220000
05/20/2021 05/21/2021 05/28/2021 0.000000 0.000000 0.000000 0.220000
06/21/2021 06/22/2021 06/29/2021 0.000000 0.000000 0.000000 0.220000
07/20/2021 07/21/2021 07/28/2021 0.000000 0.000000 0.000000 0.220000
08/20/2021 08/23/2021 08/30/2021 0.000000 0.000000 0.000000 0.220000
09/20/2021 09/21/2021 09/28/2021 0.000000 0.000000 0.000000 0.220000

Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.


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%
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 1 48 15 0 0 0 0
2019-Q4: 10/1/2019 through 12/31/2019 0 0 0 3 47 14 0 0 0 0
2020-Q1: 1/2/2020 through 3/31/2020 1 2 2 5 28 17 4 0 0 3
2020-Q2: 4/1/2020 through 6/30/2020 0 1 13 10 10 11 6 7 2 3
2020-Q3: 7/1/2020 through 9/30/2020 1 1 2 7 9 24 12 6 1 1
2020-Q4: 10/1/2020 through 12/31/2020 0 0 0 0 11 49 4 0 0 0
2021-Q1: 1/4/2021 through 3/31/2021 0 0 0 1 14 44 2 0 0 0
2021-Q2: 4/1/2021 through 6/30/2021 0 0 0 0 19 44 0 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 to the fund of owning shares of an ETF may exceed the cost of investing directly in the underlying securities.
Master Limited Partnerships: Investments in MLPs may be adversely impacted by interest rates, tax law changes, regulation, or factors affecting underlying assets.
Energy Industry Concentration: The portfolio's investments are concentrated in the energy industry and presents greater risks than if the portfolio was broadly diversified over numerous sectors of the economy.
Leverage: When a portfolio is leveraged, the value of its securities may be more volatile and all other risks may be compounded.
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.
Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

InfraCap MLP ETF Fact Sheet
InfraCap MLP ETF (AMZA) Commentary
Virtus ETF Ticker Menu
Precision Exposure Across Non-Traditional Sources of Income

Positions

Positions AMZA
IOPV Holdings AMZA

Distributions

InfraCap MLP ETF (AMZA) Distribution - March 2021
InfraCap MLP ETF (AMZA) Distribution - April 2021
InfraCap MLP ETF (AMZA) Distribution - February 2021
2021 Distribution Calendar - ETF
1099 Q&A - InfraCap MLP ETF (AMZA)
InfraCap MLP ETF (AMZA) Distribution - October 2020
InfraCap MLP ETF (AMZA) Distribution - June 2020
InfraCap MLP ETF (AMZA) Distribution - May 2020

Financial Materials

InfraCap MLP ETF (AMZA) Prospectus - February 2021
ETFis Series Trust I XBRL 497
ETFis Series Trust I XBRL 485(b)
InfraCap MLP ETF (AMZA) SAI - February 2021
ETFis Series Trust I Annual Report - Oct 2020
ETFis Series Trust I Semi-Annual Report - April 2021
InfraCap MLP ETF (AMZA) Announces Reverse Split - Press Release - March 13, 2020
InfraCap MLP ETF (AMZA) - Form 8937 - December 2020
InfraCap MLP ETF (AMZA) - Form 8937 - June 2020
InfraCap MLP ETF (AMZA) - Form 8937 - December 2019
InfraCap MLP ETF (AMZA) - Form 8937 - December 2018

Section 19a Notices

InfraCap MLP ETF - AMZA - 19a-1 (August 2021)
InfraCap MLP ETF - AMZA - 19a-1 (July 2021)
InfraCap MLP ETF - AMZA - 19a-1 (June 2021)
InfraCap MLP ETF - AMZA - 19a-1 (May 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Apr 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Mar 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Feb 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Jan 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Jan 2021)
InfraCap MLP ETF - AMZA - 19a-1 (Nov 2020)
InfraCap MLP ETF - AMZA - 19a-1 (Oct 2020)
InfraCap MLP ETF - AMZA - 19a-1 (Sept 2020)

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.

Beta: A quantitative measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole.

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.