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Trending ETFs

EIP Growth and Income Fund

mutual fund
EIPIX
Payout Change
Pending
Price as of:
$16.47 -0.04 -0.24%
primary theme
MLP Industry Equity
share class
EIPIX (Mutual Fund)

EIP Growth and Income Fund

Payout Change
Pending
Price as of:
$16.47 -0.04 -0.24%
primary theme
MLP Industry Equity
share class
EIPIX (Mutual Fund)

EIP Growth and Income Fund

Payout Change
Pending
Price as of:
$16.47 -0.04 -0.24%
primary theme
MLP Industry Equity
share class

Name

As of 06/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$16.47

$77.5 M

3.42%

$0.56

1.57%

Vitals

YTD Return

10.4%

1 yr return

18.2%

3 Yr Avg Return

11.9%

5 Yr Avg Return

8.8%

Net Assets

$77.5 M

Holdings in Top 10

41.4%

52 WEEK LOW AND HIGH

$16.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 94.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$16.47

$77.5 M

3.42%

$0.56

1.57%

EIPIX - Profile

Distributions

  • YTD Total Return 10.4%
  • 3 Yr Annualized Total Return 11.9%
  • 5 Yr Annualized Total Return 8.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.39%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    EIP Growth and Income Fund
  • Fund Family Name
    EIP Funds
  • Inception Date
    Oct 17, 2016
  • Shares Outstanding
    7273243
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eva Pao

Fund Description

Under normal market conditions, the Fund pursues its objectives by investing primarily in a diversified portfolio of equity securities of issuers in the Energy Industry (“Energy Companies”) that seek to pay out as dividends or distributions a portion of income or distributable cash flow in excess of the average for listed equities as a whole (“High Payout Energy Companies”), including: (1) U.S. and Canadian natural gas and electric and other utilities, (2) corporations operating energy infrastructure assets such as pipelines or renewable energy production, (3) energy-related master limited partnerships or limited liability companies that are treated as partnerships (“MLPs”), (4) entities that control MLPs, that own general partner interests in an MLP or interests issued by MLP affiliates, and (5) other energy-related corporations with similar dividend policies similar to those of High Payout Energy Companies in (3) and (4) above (such as energy infrastructure real estate investment trusts and foreign energy infrastructure corporations). The “Energy Industry” means enterprises connected to the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, electricity, coal or other energy sources including renewable energy and other enterprises that derive the majority of their earnings from manufacturing, operating or providing services in support of infrastructure assets and/or infrastructure activities such as renewable energy equipment, energy storage, carbon capture and sequestration, fugitive methane abatement and energy transmission and distribution equipment. The Fund concentrates its investments in the Energy Industry and may invest without limit in Energy Companies of any market capitalization. While the Fund invests primarily in U.S. and Canadian Energy Companies, it may also invest in Energy Companies organized in other countries.
The Fund may achieve a portion of its exposure to Energy Companies by entering into swap agreements with respect to securities of Energy Companies. Leverage may be achieved through the use of swap contracts. The Fund typically uses leverage for any purpose consistent with its investment objective, including providing additional flexibility in portfolio construction, cash management and in an attempt to enhance returns. To the extent the Fund enters into derivative transactions, it will do so pursuant to Rule 18f-4 under the Investment Company Act of 1940, as amended, (the “1940 Act”), which requires implementation of certain policies and procedures designed to manage its derivative risks dependent upon the Fund’s level of exposure to derivative instruments.
In managing the Fund’s portfolio, the Fund’s manager, Energy Income Partners, LLC (the “Manager”), seeks to identify Energy Companies in non-cyclical segments of the Energy Industry that offer the potential for an attractive balance of income and growth. The Manager focuses on steady fee-for-service businesses, such as pipelines, storage facilities and terminals (“Energy Infrastructure”) as well as other segments where long-term contacts provide a similar level of earnings stability. These businesses receive fees and tariffs, which are generally not directly related to commodity prices and therefore tend to be less cyclical. The Manager typically seeks to limit the Fund’s exposure to Energy Companies that derive a significant portion of their revenues from more cyclical businesses, such as energy exploration, development and production, where revenues tend to be driven by commodity prices.
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EIPIX - Performance

Return Ranking - Trailing

Period EIPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.4% 7.3% 23.4% 90.10%
1 Yr 18.2% 14.6% 48.3% 96.04%
3 Yr 11.9%* 1.2% 27.6% 89.69%
5 Yr 8.8%* -7.2% 33.3% 71.28%
10 Yr N/A* -4.8% 10.3% 1.69%

* Annualized

Return Ranking - Calendar

Period EIPIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -14.9% 18.2% 91.26%
2022 -7.0% -7.0% 29.9% 98.99%
2021 17.5% 4.2% 55.3% 91.92%
2020 -13.8% -57.4% 155.1% 8.16%
2019 18.9% -8.9% 18.9% 1.14%

Total Return Ranking - Trailing

Period EIPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.4% 7.3% 23.4% 90.10%
1 Yr 18.2% 14.6% 48.3% 96.04%
3 Yr 11.9%* 1.2% 27.6% 89.69%
5 Yr 8.8%* -7.2% 33.3% 71.28%
10 Yr N/A* -4.8% 10.3% 1.69%

* Annualized

Total Return Ranking - Calendar

Period EIPIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -9.3% 25.5% 92.23%
2022 16.4% -1.2% 38.8% 84.85%
2021 21.8% 14.5% 56.2% 97.98%
2020 -9.8% -53.9% 155.1% 8.16%
2019 22.0% -3.4% 22.4% 3.41%

NAV & Total Return History


EIPIX - Holdings

Concentration Analysis

EIPIX Category Low Category High EIPIX % Rank
Net Assets 77.5 M 22 M 53.1 B 90.83%
Number of Holdings 85 16 85 0.97%
Net Assets in Top 10 31.3 M 19.6 M 3.37 B 95.15%
Weighting of Top 10 41.45% 40.8% 114.0% 98.06%

Top 10 Holdings

  1. Energy Transfer LP 7.10%
  2. Enterprise Products Partners LP 6.06%
  3. ONEOK Inc 4.46%
  4. DT Midstream Inc 4.22%
  5. Plains GP Holdings LP 3.73%
  6. MPLX LP 3.48%
  7. First American Treasury Obligations Fund 3.27%
  8. Targa Resources Corp 3.18%
  9. Shell PLC 3.01%
  10. TotalEnergies SE 2.94%

Asset Allocation

Weighting Return Low Return High EIPIX % Rank
Stocks
94.91% 53.33% 133.88% 90.29%
Cash
5.10% 0.00% 13.58% 8.74%
Preferred Stocks
0.00% 0.00% 2.23% 20.39%
Convertible Bonds
0.00% 0.00% 5.29% 6.80%
Bonds
0.00% -0.01% 40.73% 6.80%
Other
-0.01% -36.30% 4.52% 89.32%

Stock Sector Breakdown

Weighting Return Low Return High EIPIX % Rank
Energy
57.46% 53.73% 100.00% 98.06%
Utilities
36.13% 0.00% 41.78% 2.91%
Industrials
4.54% 0.00% 4.54% 0.97%
Basic Materials
1.35% 0.00% 6.40% 30.10%
Technology
0.52% 0.00% 2.43% 8.74%
Real Estate
0.00% 0.00% 0.00% 2.91%
Healthcare
0.00% 0.00% 0.00% 2.91%
Financial Services
0.00% 0.00% 0.66% 7.77%
Communication Services
0.00% 0.00% 0.00% 2.91%
Consumer Defense
0.00% 0.00% 0.82% 10.68%
Consumer Cyclical
0.00% 0.00% 1.07% 14.56%

Stock Geographic Breakdown

Weighting Return Low Return High EIPIX % Rank
US
89.97% 48.92% 133.30% 69.90%
Non US
4.94% 0.00% 25.20% 31.07%

EIPIX - Expenses

Operational Fees

EIPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.57% 0.35% 8.81% 66.67%
Management Fee 1.00% 0.35% 1.38% 51.38%
12b-1 Fee N/A 0.00% 1.00% 2.78%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

EIPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

EIPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

EIPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.00% 6.00% 166.00% 86.60%

EIPIX - Distributions

Dividend Yield Analysis

EIPIX Category Low Category High EIPIX % Rank
Dividend Yield 3.42% 0.00% 15.34% 83.49%

Dividend Distribution Analysis

EIPIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Quarterly

Net Income Ratio Analysis

EIPIX Category Low Category High EIPIX % Rank
Net Income Ratio 0.39% -6.38% 5.84% 41.18%

Capital Gain Distribution Analysis

EIPIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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EIPIX - Fund Manager Analysis

Managers

Eva Pao


Start Date

Tenure

Tenure Rank

Aug 22, 2006

15.78

15.8%

Eva Pao is a Co-Founder and Co-Portfolio Manager of EIP’s Funds and products. Eva Pao co-founded EIP in 2003, serving as Managing Director of EIP until the EIP investment team joined Pequot Capital Management. Ms. Pao served as Vice President of Pequot Capital Management from 2005 to mid-2006. Prior to Harvard Business School, Ms. Pao was a Manager at Enron Corp. where she managed a portfolio in Canadian oil and gas equities for Enron’s internal hedge fund that specialized in energy-related equities and managed a natural gas trading book. She received a B.A. from Rice University in 1996. She received an M.B.A. from the Harvard Business School in 2002.

James Murchie


Start Date

Tenure

Tenure Rank

Aug 22, 2006

15.78

15.8%

James Murchie co-founded EIP in 2003 with Linda Longville and Eva Pao. He is the President, CEO and Co-Portfolio Manager of EIP’s Funds and products which seek to focus on high-payout energy infrastructure securities such as Master Limited Partnerships (MLPs), MLP affiliates, Utilities, Yield Corporations (YieldCos) and Energy Infrastructure Real Estate Investment Trusts (REITs). From late 2004 to mid-2006, while the EIP investment team was affiliated with Pequot Capital Management, Mr. Murchie served as a Managing Director. In July 2006, EIP re-established its independence. In 1998, he founded Lawhill Capital where he managed a long/short equity fund that invested in energy and cyclical equities and commodities until 2003. From 1995 to 1997, he was a Managing Director at Tiger Management where his primary responsibility was investments in energy, commodities and related equities. From 1990-1995, Mr. Murchie was a Principal at Sanford C. Bernstein where he was a top-ranked energy analyst and sat on the Research Department’s Recommendation Review Committee. Before joining Bernstein, he spent 8 years at British Petroleum in 7 operating and staff positions of increasing responsibility. He has served on the board of Clark Refining and Marketing Company and as President and Treasurer of the Oil Analysts Group of New York. Mr. Murchie received a B.A. from Rice University in 1979 and an M.A. in Energy Planning from Harvard University in 1982

John Tysseland


Start Date

Tenure

Tenure Rank

Oct 14, 2016

5.63

5.6%

John Tysseland is a Principal and Co-Portfolio Manager of EIP’s Funds and products. From 2005 to 2014, he worked at Citi Research most currently serving as a Managing Director where he covered midstream energy companies and MLPs. From 1998 to 2005, he worked at Raymond James & Associates as a Vice President who covered the oilfield service industry and established the firm’s initial coverage of MLPs in 2001. Prior to that, he was an Equity Trader at Momentum Securities from 1997 to 1998 and an Assistant Executive Director at Sumar Enterprises from 1996 to 1997. He graduated from The University of Texas at Austin in 1996 with a BA in economics.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.77 12.18