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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 12/07/2023)
30-Day Median Bid/Ask Spread
0.36% (as of 12/07/2023)
Premium/Discount
$0.01 (as of 12/07/2023)
4PM Bid/Offer Midpoint
$35.65 (as of 12/07/2023)
Shares Outstanding
9,490,000 (as of 12/07/2023)
Daily Trading Volume
36,800.00 (as of 12/07/2023)
20 Day Average Trading Volume
37,035.00 (as of 12/07/2023)
Net Assets
$338,131,239 (as of 12/07/2023)

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

Portfolio

Top Holdings (% Fund)

(as of 12/08/2023)
Security
MPLX LP
18.49
 18.49
ENERGY TRANSFER LP
17.08
 17.08
ENTERPRISE PRODUCTS PARTNERS
16.75
 16.75
PLAINS ALL AMER PIPELINE LP
16.28
 16.28
WESTERN MIDSTREAM PARTNERS L
13.32
 13.32
ENLINK MIDSTREAM LLC
9.49
 9.49
CHENIERE ENERGY PARTNERS LP
7.86
 7.86
NUSTAR ENERGY LP
7.54
 7.54
ONEOK INC
4.38
 4.38
HESS MIDSTREAM LP - CLASS A
3.92
 3.92

Performance

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.

Fees & Expenses

Management Fee 0.95
Total Expense Ratio 1.64
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 Rate1

(as of 11/30/2023)
30-day SEC Yield 8.60
Distribution Rate (as of 12/07/2023) 8.08

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
01/03/2023 01/04/2023 01/10/2023 0.000000 0.000000 0.000000 0.220000
01/10/2023 01/11/2023 01/17/2023 0.000000 0.000000 0.000000 0.220000
01/20/2023 01/23/2023 01/30/2023 0.000000 0.000000 0.000000 0.240000
02/21/2023 02/22/2023 02/27/2023 0.000000 0.000000 0.000000 0.240000
03/20/2023 03/21/2023 03/28/2023 0.000000 0.000000 0.000000 0.240000
04/20/2023 04/21/2023 04/28/2023 0.000000 0.000000 0.000000 0.240000
05/22/2023 05/23/2023 05/31/2023 0.000000 0.000000 0.000000 0.240000
06/20/2023 06/21/2023 06/28/2023 0.000000 0.000000 0.000000 0.240000
07/20/2023 07/21/2023 07/28/2023 0.000000 0.000000 0.000000 0.240000
08/21/2023 08/22/2023 08/29/2023 0.000000 0.000000 0.000000 0.240000
09/20/2023 09/21/2023 09/28/2023 0.000000 0.000000 0.000000 0.240000
10/20/2023 10/23/2023 10/30/2023 0.000000 0.000000 0.000000 0.240000
11/20/2023 11/21/2023 01/03/2024 0.000000 0.000000 0.000000 0.240000

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.


Period Number of Days Fund has Traded at a:
Discount Premium
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%
2021-Q4: 10/1/2021 through 12/31/2021 0 0 0 0 30 33 0 0 1 0
2022-Q1: 1/3/2022 through 3/31/2022 0 0 0 0 40 21 1 0 0 0
2022-Q2: 4/1/2022 through 6/30/2022 0 0 0 0 27 33 0 1 1 0
2022-Q3: 7/1/2022 through 9/30/2022 0 0 0 1 26 35 2 0 0 0
2022-Q4: 10/3/2022 through 12/30/2022 0 0 0 4 23 34 2 0 0 0
2023-Q1: 1/3/2023 through 3/31/2023 0 0 0 1 26 31 3 1 0 0
2023-Q2: 4/3/2023 through 6/30/2023 0 0 0 1 34 24 3 0 0 0
2023-Q3: 7/3/2023 through 9/29/2023 0 0 0 0 16 40 7 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 portfolio 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 the Fund leverages its portfolio, the Fund may be less liquid and/or may liquidate positions at an unfavorable time, and the value of the Fund's shares will be more volatile and sensitive to market movements.
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: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Local, regional, or global events such as war or military conflict, terrorism, pandemic, or recession could impact the portfolio, including hampering the ability of the portfolio's manager(s) to invest its 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
ETF Product Guide
Virtus ETF Ticker Menu
Is Now an Unprecedented Moment in the Fixed Income Market?
InfraCap MLP ETF (AMZA) - Distributions and Return of Capital: How Does It Work?

Holdings

IOPV Holdings AMZA
Positions AMZA
InfraCap MLP ETF Holdings Fiscal Q1
InfraCap MLP ETF Holdings Fiscal Q3

Distributions

1099 Q&A - InfraCap MLP ETF (AMZA)
2023 Distribution Calendar - ETF

Financial Materials

InfraCap MLP ETF (AMZA) Prospectus - October 2023
ETFis Series Trust I XBRL 485(b)
InfraCap MLP ETF (AMZA) SAI - October 2023
ETFis Series Trust I Annual Report - October 2022
ETFis Series Trust I Semi-Annual Report - April 2023
InfraCap MLP ETF (AMZA) Announces Reverse Split - Press Release - March 13, 2020
InfraCap MLP ETF (AMZA) - Form 8937 - December 2021
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
InfraCap MLP ETF (AMZA) – July 2023 Tax Information
InfraCap MLP ETF (AMZA) - June 2023 Tax Information

Section 19a Notices

InfraCap MLP ETF - AMZA - 19a-1 (May 2023)
InfraCap MLP ETF - AMZA - 19a-1 (April 2023)
InfraCap MLP ETF - AMZA - 19a-1 (October 2022)
InfraCap MLP ETF - AMZA - 19a-1 (September 2022)
InfraCap MLP ETF - AMZA - 19a-1 (August 2022)
InfraCap MLP ETF - AMZA - 19a-1 (July 2022)
InfraCap MLP ETF - AMZA - 19a-1 (June 2022)
InfraCap MLP ETF - AMZA - 19a-1 (May 2022)
InfraCap MLP ETF - AMZA - 19a-1 (April 2022)
InfraCap MLP ETF - AMZA - 19a-1 (March 2022)
InfraCap MLP ETF - AMZA - 19a-1 (February 2022)
InfraCap MLP ETF - AMZA - 19a-1 (January 2022)
InfraCap MLP ETF - AMZA - 19a-1 (December 2021 and January 2022)

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.

1 Yields/Distributions: 30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change. 30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers. 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.