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October 01, 2013 at 08:00 PM
Although interest rates have been climbing, investors are still hunting for higher yields in various sectors like master limited partnerships (MLPs). To that end, Global X rolled out the Global X MLP & Energy Infrastructure ETF (MLPX).
MLPX contains a small basket of 35 MLP and midstream energy infrastructure companies, according to Global X Funds, the sponsor.
“We are pleased to continue to innovate in the MLP space,” said Bruno del Ama, chief executive officer of Global X Funds. “MLPX provides investors with lower-cost access to midstream energy infrastructure MLPs and corporations in an ETF structure without many of the tax complexities inherent in MLP investing.”
Aside from charging annual expenses of just 0.45%, the fund also takes advantage of a fund structure unique to MLP ETFs to provide greater tax efficiency for shareholders. Due to its legal structure, MLPX is not subject to corporate taxes and does not require K-1 tax filings from investors, only 1099s.
