The Midstream Energy ETF provides exposure to fee-based, volume driven companies involved in the processing, transportation and storage of oil, natural gas and natural gas liquids.
Index Dividend Yield: 3.56% As of 31.08.2026. Index Dividend Yield is calculated by the Index Provider
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Yield enhancement
Midstream companies have historically paid healthy dividends supported by stable cash flows.
Defensive energy exposure
Given the fee-based nature of midstream, cash flows are less sensitive to commodity price volatility compared to other sectors of energy, such as oil and gas producers.
Stable cash flows
Midstream companies are largely fee-based, volume-driven businesses that benefit from the growing US and Canadian energy production and rising demand domestically and internationally.
Alerian Midstream Energy Dividend UCITS ETF (MMLP) aims to provide diversified exposure to midstream energy corporations involved in the processing, transportation and storage of oil, natural gas and natural gas liquids in the US and Canadian markets. The midstream energy ETF includes US and Canadian C-corps, as well as an allocated exposure to Master Limited Partnerships (MLPs). MMLP is the first UCITS ETF to provide exposure to the energy infrastructure sector.
Key Risks
Energy infrastructure companies may be subject to specific industry and sector risks such as commodity price fluctuations and decrease in demand for energy during a recession. For a complete overview of all the risks, please refer to the “Risk Factors” in the Prospectus.
Dividend Calendar
Source: HANetf, data as of 31.08.2026. Please note that all performance figures are showing net data. Performance before inception is based on back-tested data. Back-testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled “Risk Factors” for further details of risks associated with an investment in this product. If fund is less than 12 months old, YTD field will be calculated since inception. When you invest in ETFs your capital is at risk.
*This fund changed its index on the 24th October 2024, from the Alerian Midstream Energy Dividend Index to the Alerian Midstream Energy Corporation Dividend Index. The index performance is a composite of the old index prior to this date and the new index after.
Total dividends paid each month for the fund.
No. of holdings: 20
Data as of 30th March 2025. The figures shown relate to past performance. Past performance is not a reliable indication of current or future results. Maximum on-loan figure may increase or decrease over time. With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.
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The Midstream Energy ETF tracks the Alerian Midstream Energy Corporation Dividend Index – a dividend weighted index that reflects the proportionate share of cash dividends each company is expected to pay. The index is based on the liquid, dividend-paying portion of the North American energy infrastructure space. The index consists of corporations and has an allocated exposure to Master Limited Partnerships (MLPs). Constituents must have principle executive offices in the US or Canada. Companies must be treated as corporations for tax purposes. The index is rebalanced quarterly.
*This fund changed its index on 24 October 2024 from the Alerian Midstream Energy Dividend Index to the Alerian Midstream Energy Corporation Dividend Index.
The index dividend yield is calculated by the index provider.
Midstream energy refers to the infrastructure used to move, process and store oil, natural gas and natural gas liquids. This can include pipelines, storage terminals, processing plants, export facilities and related energy transport assets. In an investment context, midstream exposure is different from investing directly in oil and gas producers because many midstream companies earn revenues from long-term contracts or fees linked to volumes transported or processed, rather than relying only on commodity prices. Investors researching this area may want to understand the role these companies play in connecting energy supply with domestic and international demand.
Midstream companies typically operate the infrastructure that connects energy production with end users, while producers focus on extracting oil and gas. This distinction matters because midstream revenues are often more closely linked to transportation, storage or processing volumes than to the market price of oil or gas. Producers are usually more directly exposed to commodity price swings, exploration risk and drilling economics. Midstream companies can still be affected by energy prices, but their business models may be more infrastructure-like, especially where revenues are supported by long-term contracts, regulated tariffs or fee-based arrangements.
Barriers to entry in midstream energy infrastructure can be significant because assets such as pipelines, storage terminals and processing facilities are expensive, highly regulated and difficult to replicate. New projects often require permits, land rights, environmental approvals, engineering expertise and long construction timelines. Once infrastructure is in place, it may become important within a specific region or production basin, which can support utilisation and pricing power. Many midstream companies also operate under long-term contracts, which may provide greater revenue visibility than businesses more directly exposed to commodity prices. Investors should still consider counterparty risk, contract duration, regulatory changes and whether assets remain well positioned as energy demand evolves.
Demand for midstream infrastructure is mainly driven by energy production volumes, domestic consumption, exports and the need to transport or store energy efficiently. In North America, natural gas production, liquefied natural gas exports, petrochemical demand and industrial energy use can all influence the need for pipelines, processing facilities and storage assets. Demand may also be shaped by regional supply imbalances, export growth and infrastructure bottlenecks. However, demand is not guaranteed and can be affected by economic slowdowns, changing energy policy, lower production activity or a shift away from fossil fuels over time.
Midstream companies can be affected by oil and gas prices, but often less directly than exploration and production companies. Many midstream businesses earn fees for transporting, processing or storing energy products, which can make cash flows more dependent on volumes than spot prices. That said, commodity prices still matter because sustained low prices may reduce drilling activity, production growth or demand for new infrastructure. Investors should therefore not assume midstream exposure is immune to energy market volatility. The degree of sensitivity depends on each company’s contracts, asset mix, customer base, leverage and geographic footprint.
Dividends are often associated with midstream energy companies because many operate long-life infrastructure assets that can generate recurring cash flows. These cash flows may support shareholder distributions, particularly when companies have mature assets, disciplined capital spending and stable contract structures. Some midstream businesses have historically prioritised income generation, which is why investors often research the sector through an income lens. However, dividends are not guaranteed. They can be reduced or suspended if cash flows weaken, debt levels rise, capital expenditure increases, or management decides to retain more cash for growth, balance sheet repair or other corporate priorities.
Relevant midstream energy stocks may include pipeline, storage, processing, export and natural gas infrastructure companies. Examples include Kinder Morgan, Williams Companies, ONEOK, TC Energy, Enbridge, Pembina Pipeline, Targa Resources, Kinetik Holdings and Cheniere Energy. These businesses are often linked to fee-based or volume-driven cash flows rather than direct commodity production, although they can still be affected by energy demand, regulation, interest rates and capital spending cycles. Investors researching this space should assess contract quality, leverage, dividend coverage, exposure to natural gas and natural gas liquids, and whether revenues are supported by long-term infrastructure demand. Tax structure and MLP exposure can also matter.
Disclaimer: These FAQs have been generated with the assistance of AI and may contain errors or omissions. They are provided for general information only and do not constitute investment advice, a recommendation, or an invitation to buy or sell any investment.
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VettaFi, a data, analytics, and thought leadership company, is transforming financial services from an industry to a community—one relationship at a time. In addition to providing interactive online tools and research, VettaFi offers asset managers an array of indexing and digital distribution solutions to innovate and scale their businesses. With billions in assets benchmarked to its indices – and more than 200 customers globally – asset managers look to VettaFi for benchmarks and best-in-class index solutions. VettaFi owns and administers the Alerian Index Series. VettaFi LLC, is a wholly-owned subsidiary of TMX Group Limited (TMX Group). For more information about TMX Group, please visit: www.tmx.com.
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