Core Insights - The article discusses the options available for investors seeking exposure to Master Limited Partnerships (MLPs) through exchange-traded products (ETPs), specifically focusing on the differences between exchange-traded funds (ETFs) and exchange-traded notes (ETNs) [1][3]. Group 1: Product Overview - The Alerian MLP ETF (AMLP) is an established ETF, while the J.P. Morgan Alerian MLP Index ETN (AMJ) was a prominent ETN until its maturation in 2024, after which it was succeeded by the JPMorgan Alerian MLP Index ETN (AMJB) [2]. - Both ETFs and ETNs trade on exchanges and track underlying indices, issuing a 1099 form to simplify tax reporting for investors [3]. Group 2: Structural Differences - ETNs, introduced in 2006, are senior, unsecured debt securities issued by banks, unlike ETFs that own the underlying assets. The return on ETNs is linked to the performance of a market index [4][5]. - The ETN structure minimizes tracking error as the issuer is contractually obligated to pay the index's exact return, and ETNs pay variable coupons instead of traditional dividends [6]. Group 3: Investment Considerations - A unique risk associated with ETNs is the creditworthiness of the issuer, as investors do not own the underlying securities, making returns dependent on the bank's ability to meet its debt obligations [7]. - MLPs are appealing due to tax-deferred distributions and high yields, with ETFs like AMLP being commonly used in income portfolios or as alternative investments [8].

Core Viewpoint - The current oil outlook for 2026 suggests a supply surplus, leading to muted prices, which may prompt investors to diversify their energy investments beyond traditional oil and gas producers [1][2]. Energy Investment Strategy - A strategy proposed by industry experts includes focusing on energy infrastructure and nuclear power to capture yield and growth [3]. - Midstream Master Limited Partnerships (MLPs) are highlighted as a defensive anchor for energy portfolios in 2026, as they operate on fee-based business models rather than being solely dependent on commodity prices [3]. - Midstream equities currently offer attractive yields supported by strong free cash flow and consistent dividend growth [3]. Infrastructure and Demand - Midstream assets are essential for supporting the increasing electricity demand driven by data centers, making the infrastructure for transporting natural gas critical [4]. - The Alerian MLP ETF (AMLP) tracks the Alerian MLP Infrastructure Index (AMZI), which had a yield of 7.7% as of December 8 [4]. Nuclear Energy Growth - Nuclear energy is identified as a key beneficiary of the tech sector's need for reliable, carbon-free baseload power, complementing the income from midstream investments [5]. - The Range Nuclear Renaissance Index ETF (NUKZ) is suggested for investors looking to gain exposure to companies involved in advanced reactors, utilities, construction, and services related to nuclear energy [6]. Combined Investment Approach - By integrating the stability of midstream investments with the growth potential of nuclear energy, advisors can create an energy allocation strategy that is less reliant on oil prices [6].

Core Insights - Investors showed interest in durable growth amidst tech volatility and sought income and alternative diversification in November [1][2] Growth Focus - The Invesco QQQ Trust (QQQ) and Invesco NASDAQ 100 ETF (QQQM) experienced a decline in value, yet there was significant interest in large cap growth funds [3] - The article "These ETFs Are on the Right Side of Tech Earnings Chasm" highlighted the earnings season for technology proxies within Invesco ETFs, discussing potential benefits from AI, particularly focusing on Alphabet and Amazon [3] Income Resilience - Alerian energy infrastructure ETFs outperformed QQQ in November, with a notable interest in their income components [4] - The Alerian MLP ETF (AMLP) distribution increased by 5% year-over-year, while the Alerian Energy Infrastructure ETF (ENFR) distribution grew by 10% [4] Core Strategy - The Goldman Sachs ActiveBeta US Large Cap Equity ETF (GSLC) surpassed $15 billion in assets under management, primarily due to price appreciation [5] - The multi-factor index of GSLC incorporates momentum, quality, low volatility, and value, positioning it as a competitive option for core equity allocation [5] International Access - The American Century Quality Diversified International ETF (QINT) outperformed its category average through an index-based quality approach [6] - The portfolio includes significant holdings in large financials like Banco Bilbao Vizcaya Argentaria SA and luxury goods companies like Hermes International [6] Alternative Income - The Calamos CEF Income & Arbitrage ETF (CCEF) focuses on closed-end funds trading at discounts to net asset value (NAV), providing a unique income and diversification strategy [7] - CCEF offered a nearly 8% yield as of September 2025, appealing to investors amid uncertainty in traditional bond strategies [7]

Core Insights - Nuclear energy is highlighted as a standout investment opportunity in 2025, with the Range Nuclear Renaissance Index ETF (NUKZ) returning approximately 55% year-to-date, outperforming the broader energy sector [1] Group 1: Factors Driving Nuclear Energy Surge - Three main factors are driving the surge in nuclear energy: it provides reliable baseload power, qualifies as clean energy, and has bipartisan policy support in Washington [2] - The demand for nuclear energy has been amplified by the AI and data center boom, as major tech companies require substantial amounts of continuous power [2] Group 2: Market Performance and Comparisons - The nuclear sector is experiencing broad growth, contrasting with the oil and gas market, which is more selective. Companies like Oklo Inc. have seen stock increases of over 300% this year, while construction firms such as Korea Electric Power Corp. and Samsung Heavy Industries have risen over 100% [3] - Approximately 30% of the NUKZ index consists of utilities benefiting from increased nuclear demand and lower interest rates [3] Group 3: Investment Opportunities - For income-focused investors, the Alerian MLP ETF (AMLP) is noted for its yield of just under 8%, with expectations for continued distribution growth due to its fee-based model, providing a defensive investment against oil price volatility [4] Group 4: New Financial Products - Aptus Capital Advisors has launched a new series of buffer ETFs with a low expense ratio of 0.25%, making them the lowest cost buffer ETFs available, significantly undercutting competitors [5]

Core Insights - SS&C ALPS Advisors' midstream ETFs have announced distributions, highlighting the segment's strong performance in generating attractive income for investors [1] Group 1: Company Performance - The Alerian MLP ETF (AMLP) and other midstream ETFs have a proven track record of delivering significant income [1]

Group 1: VettaFi and Indexing Business - VettaFi, formed from the merger of multiple indexing businesses, was recently acquired by TMX Group and now manages over $75 billion in assets across various indices [2] - The company assists clients in product development, offering services such as formalizing rulebooks, conducting backtesting, and evaluating liquidity [2] - Ongoing management and education are essential for partners to differentiate themselves in the crowded ETF market, which has over 4,000 products [3] Group 2: Thematic ETFs and Portfolio Management - Thematic ETFs are becoming increasingly important, with a focus on analyzing portfolio overlap to enhance existing allocations [3] - Key thematic areas attracting investor demand include artificial intelligence and nuclear energy, with advisors typically allocating 5-10% of portfolios to these strategies [3] Group 3: Gold Market Dynamics - Gold prices are driven by strong physical demand from China and central banks, record ETF inflows, and macroeconomic factors such as a weaker U.S. dollar and inflation uncertainty [4] - Gold serves as a portfolio diversifier and can coexist with bitcoin, fulfilling different roles within an investment strategy [4] Group 4: Notable ETFs - Alerian MLP ETF (AMLP) has over $10 billion in assets and recently celebrated its 15-year anniversary [5] - VictoryShares Free Cash Flow ETF (VFLO) is approaching $5 billion in assets despite being less than three years old [5] - The ROBO Global ETF Suite focuses on robotics and artificial intelligence, while the Range Nuclear Renaissance Index (NUKZ) expands VettaFi's thematic indexing in nuclear energy [5]

Core Insights - The recent rate cut by the Federal Reserve may lead to lower yields on bonds, prompting investors to seek alternative income sources [1][2] - Midstream Master Limited Partnerships (MLPs) and corporations are highlighted as attractive options due to their higher yields compared to traditional fixed income benchmarks [1][3] Rate Cuts and Impact on Bonds - The Federal Reserve has reduced rates by 25 basis points and may consider further cuts, which could negatively affect income-focused investors, particularly those nearing retirement [2] Midstream MLPs and Yields - Midstream MLPs and C-Corps provide appealing income and diversification benefits, with the Alerian MLP Infrastructure Index (AMZI) offering a 7.8% indicative yield as of September 23, compared to a ten-year average yield of 8.2% [3][4] - AMZI's yield surpasses the Bloomberg USAgg Index's yield of 4.3% and the Bloomberg US Corporate High Yield Index's yield of 6.6% [4] Diversification and Correlation - MLPs can enhance income portfolios while offering diversification, as evidenced by AMZI's low ten-year correlation of 0.1 with the Agg [4] - The Alerian Midstream Energy Select Index (AMEI) provides a 5.3% yield, with a ten-year average yield of 6.1%, consisting of approximately 75% U.S. and Canadian midstream corporations and 25% MLPs [4] Comparison with Other Income Investments - Both AMZI and AMEI yield more than other equity income investments, such as REITs at 4.0% and the S&P 500 Utilities Index at 2.8% [5] - MLPs or midstream investments typically represent a 3-5% allocation in an income portfolio, which can significantly enhance overall portfolio yields [5]

Group 1 - The Alerian MLP ETF (AMLP) has reached a significant milestone after years of providing simplified exposure to Master Limited Partnerships (MLPs) [1] - MLPs are recognized for their attractive income potential, making them appealing to investors seeking yield [1] - The ETF has successfully navigated market challenges and continues to attract investor interest [1]