Midstream/MLP ETFs have recorded consistently strong flows in 2025, as the segment is on track to outperform the broader market during the first half of the year.
The Alerian MLP ETF (AMLP ) and the Alerian Energy Infrastructure ETF (ENFR ) have seen $700 million and $66 million, respectively, in net flows year to date through June 11. In the past month, AMLP has garnered $173 million in net flows while ENFR has attracted $8 million.
With $10.5 billion in assets under management, AMLP is the largest MLP ETF and the second largest energy ETF by assets after the Energy Select Sector SPDR Fund (XLE ). ENFR has $304 million in assets and is the lowest-cost ETF in the midstream category.
Midstream ETFs are attractive to many investors for their history of providing compelling income and returns. Midstream can offer generous income regardless of the interest rate environment, and midstream is currently providing more generous yields than other segments of the energy sector and other income-oriented investments.
AMLP’s underlying index, the Alerian MLP Infrastructure Index (AMZI), is yielding 7.4% as of June 11. Meanwhile, ENFR’s underlying index, the Alerian Midstream Energy Select Index (AMEI), is yielding 5.4%.
Furthermore, midstream is less sensitive to moves in commodity prices compared to other energy subsectors, given midstream companies’ fee-based business models, which support stable cash flows.
Midstream/MLP ETFs Set to Outperform Broader Market in First Half
The midstream segment has performed well this year despite broader market and oil price volatility. AMLP and ENFR are up 5.6% and 4.7%, respectively, year to date through June 11. For comparison, the S&P 500 is up 3.0% and XLE, a measure of the broader energy sector, is up 1.5% during the same period.
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VettaFi LLC (“VettaFi”) is the index provider for AMLP and ENFR, for which it receives an index licensing fee. However, AMLP and ENFR are not issued, sponsored, endorsed or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing or trading of AMLP and ENFR.
