AMLP - Performance
Quarterly Performance as of 09/30/2014
|Alerian MLP ETF (Net Asset Value)6||-0.78%||2.48%||13.02%||63.38%||15.76%||14.71%||12.71%|
|Alerian MLP ETF (Market Price)1||-0.78%||2.43%||12.90%||63.38%||15.83%||14.71%||12.71%|
|Alerian MLP Infrastructure Index (Benchmark)5||-1.00%||3.78%||19.98%||114.95%||24.38%||23.64%||20.51%|
Monthly Performance as of 10/31/2014
|Alerian MLP ETF (Net Asset Value)6||-2.97%||2.18%||9.66%||58.52%||10.75%||11.49%||11.63%|
|Alerian MLP ETF (Market Price)1||-2.97%||2.18%||9.54%||58.52%||10.68%||11.42%||11.63%|
|Alerian MLP Infrastructure Index (Benchmark)5||-4.15%||3.33%||15.00%||106.03%||16.75%||18.36%||18.85%|
Performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be higher or lower than actual data quoted. Call 877.398.8461 for current month end performance. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The ETF accrues deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investment. This deferred tax liability is reflected in the daily NAV and as a result the MLP fund's after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked.
1 Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.
2 The Premium / Discount is the amount (stated in dollars or percent) by which the selling or purchase price of an ETF is greater than (premium) or less than (discount) its face amount/value or net asset value (NAV).
3 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. For the fiscal year ended November 30, 2013, the Fund had net operating gains of $1,314,858,756 and accrued $466,765,467 in net deferred tax expense primarily related to unrealized appreciation on investments.
4 Inception date of August 25, 2010
5 The Alerian MLP Infrastructure Index is comprised of 25 midstream energy Master Limited Partnerships and provides investors with an unbiased benchmark for the infrastructure component of this emerging asset class. An investor can not invest directly in an index.
6 Under current law, the Fund is not eligible to elect treatment as a regulated investment company due to its investments primarily in MLPs. The Fund must be taxed as a regular corporation for federal income purposes. Whereas the NAV of Fund Shares is reduced by the accrual of any deferred tax liabilities, the Alerian MLP Infrastructure Index is calculated without any tax deductions.
Alerian MLP ETF Shares are not individually redeemable. Investors buy and sell shares of the Alerian MLP ETF on a secondary market. Only market makers or "authorized participants" may trade directly with the Alerian MLP ETF, typically in blocks of 50,000 shares.
Correlation - A statistical measure of how two securities move in relation to each other.
The Fund is taxed as a regular corporation for federal income tax purposes. This differs from most investment companies, which elect to be treated as “regulated investment companies” under the Code in order to avoid paying entity level income taxes.
There are risks involved with investing in ETFs including the loss of money. Additional information regarding the risks of this investment is available in the risks section.
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. Click the link to obtain a prospectus php //echo getOneDoc(107, 1,'prospectus,'); ?> which contain this and other information, or call 877.398.8461. Read the prospectus php //echo getOneDoc(107, 1,'prospectus'); ?> carefully before investing.
The Fund invests primarily in energy infrastructure companies which may be adversely affected by changes in worldwide energy prices, exploration, production spending, government regulation, changes in exchange rates and depletion of natural resources.
ALPS Portfolio Solutions Distributor, Inc. is the Distributor for the Alerian MLP ETF.
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