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Tortoise Energy Infrastructure and Income Fund
mutual fund
INFRX
Payout Change
Pending
Price as of:
$9.42
+0.08
+0.86%
primary theme
MLP Industry Equity
share class
INFRX (Mutual Fund)
Tortoise Energy Infrastructure and Income Fund
Payout Change
Pending
Price as of:
$9.42
+0.08
+0.86%
primary theme
MLP Industry Equity
share class
INFRX (Mutual Fund)
Tortoise Energy Infrastructure and Income Fund
Payout Change
Pending
Price as of:
$9.42
+0.08
+0.86%
primary theme
MLP Industry Equity
share class
Name
As of 12/11/2024Price
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
Vitals
YTD Return
27.3%
1 yr return
31.6%
3 Yr Avg Return
19.1%
5 Yr Avg Return
13.1%
Net Assets
$498 M
Holdings in Top 10
52.2%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.38%
SALES FEES
Front Load 5.50%
Deferred Load N/A
TRADING FEES
Turnover 22.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
INFRX - Profile
Distributions
- YTD Total Return 27.3%
- 3 Yr Annualized Total Return 19.1%
- 5 Yr Annualized Total Return 13.1%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.75%
- Dividend Yield 5.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameTortoise Energy Infrastructure and Income Fund
-
Fund Family NameAdvisory Research
-
Inception DateDec 27, 2010
-
Shares Outstanding5763154
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerQuinn Kiley
Fund Description
Under normal market conditions, the Fund will invest at least 80% of its total assets in equity and debt securities of other companies focused in the energy infrastructure sector and in equity and debt securities of master limited partnerships (“MLPs”) focused in the energy infrastructure sector. Companies focused in the energy infrastructure sector include MLP parent companies and other MLP affiliates (together with MLPs, “MLP Entities”), which may invest their assets in varying degrees in MLPs. Some of these parent companies and other affiliates primarily own equity interests in MLPs, while others may jointly own assets with MLPs, and still others may only invest small portions of their assets in equity interests of MLPs. The Adviser considers the energy infrastructure sector to be comprised of companies that engage in one or more aspects of exploration, production, gathering, processing, refining, transmission, marketing, storage and delivery of energy products such as natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal; oilfield services, including drilling, cementing and stimulations; the generation, transmission and distribution of electricity; water and wastewater treatment, distribution and disposal; or the generation, transportation and sale of alternative, non-fossil fuel based energy sources including, but not limited to, biodiesel, ethanol, biomass, geothermal, hydroelectric, nuclear, solar or wind energy. The Adviser considers a company to be focused in the energy infrastructure sector if at least 50% of the company’s assets are utilized in one or more of these activities. The Fund will also invest in MLP Entities and other companies operating in the natural resources sector, which includes companies principally engaged in owning or developing non-energy natural resources (including timber and minerals) and industrial materials, or supplying goods or services to such companies.
In addition to making direct investments in MLP equity units, the Adviser intends to invest the Fund’s remaining assets in such a way as to provide, in total, a high level of correlation with MLP equities. These other investments may include equity and debt securities of entities that own interests in MLPs or assets owned in common with MLPs. The Fund will also invest in securities of entities that operate in industries similar to MLPs, such as energy infrastructure, even though such entities have no direct affiliation with an MLP.
The Fund will purchase securities across the capital structure of MLP Entities, including equity and debt securities of MLPs and their affiliates. The Fund may invest in equity securities of MLP Entities and other issuers without regard for their market capitalizations.
The Adviser intends to allocate the Fund’s assets towards the mix of equity and debt securities it deems appropriate based upon its view of economic, market, and political conditions. As a result of this asset allocation the Fund’s portfolio may, at times, be significantly invested in either equity or debt securities, or both. The Fund’s investment in equity securities may include both common and preferred stock. The Fund’s investment in debt securities may include both investment grade debt securities and high yield debt securities (often called “junk bonds”), which are securities rated below investment grade (that is, rated Ba or lower by Moody’s Investors Service, Inc. (“Moody’s”) or BB or lower by Standard & Poor’s Ratings Group (“S&P”), comparably rated by another statistical rating organization, or, if unrated, determined by the Adviser to be of comparable credit quality). The Fund will only purchase debt securities which, at the time of acquisition, are rated at least B3 by Moody’s or B- by S&P or are comparably rated by another statistical rating organization, or, if unrated, are determined by the Adviser to be of comparable credit quality. The Fund may invest in debt securities of any maturity.
The Fund may invest in foreign securities and U.S. dollar denominated foreign issuers. Such investments in securities of foreign issuers may include sponsored or unsponsored American Depository Receipts (“ADRs”) and Yankee bonds. ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. Yankee bonds are bonds denominated in U.S. dollars that are publicly issued in the United States by foreign banks and corporations.
In certain market environments, the Fund may, but is not required to, use various hedging techniques, such as the buying and selling of options, including covered call options, to seek to mitigate one or more risks associated with investments in MLPs and energy infrastructure assets including market risk and interest rate risk, which, among other factors, could adversely affect market valuations of specific securities or certain sectors of the energy MLP and energy infrastructure market place, or the Fund’s overall portfolio.
The Fund may invest up to 15% of its net assets in securities that are not registered under the Securities Act of 1933 or that otherwise may not be sold in public offerings, which are commonly known as “restricted” securities. The Fund will typically acquire restricted securities in directly negotiated transactions.
The Fund may invest in initial public offerings (“IPOs”), other investment companies including exchange-traded funds (“ETFs”), and exchange-traded notes (“ETNs”). ETFs are investment companies that generally seek to track the performance of specific indices, shares of which are traded on exchanges. The Fund will include ETFs that primarily invest in MLPs and/or other companies focused in the energy infrastructure sector for purposes of satisfying the Fund’s investment strategy of investing at least 80% of its total assets in equity and debt securities of MLPs focused in the energy infrastructure sector, and in equity and debt securities of other companies focused in the energy infrastructure sector. ETNs are unsecured debt securities issued by a bank that are linked to the total return of a market index.
INFRX - Performance
Return Ranking - Trailing
| Period | INFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 27.3% | 9.3% | 50.0% | 83.00% |
| 1 Yr | 31.6% | 12.4% | 53.5% | 83.00% |
| 3 Yr | 19.1%* | 9.7% | 39.1% | 83.33% |
| 5 Yr | 13.1%* | -0.4% | 38.2% | 82.11% |
| 10 Yr | 4.1%* | -4.6% | 13.6% | 59.02% |
* Annualized
Return Ranking - Calendar
| Period | INFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.4% | -14.9% | 18.2% | 71.57% |
| 2022 | 10.8% | -7.0% | 29.9% | 82.65% |
| 2021 | 16.3% | 4.2% | 42.7% | 93.88% |
| 2020 | -21.3% | -57.4% | 155.1% | 20.62% |
| 2019 | 5.6% | -8.9% | 18.9% | 42.53% |
Total Return Ranking - Trailing
| Period | INFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 27.3% | 9.3% | 50.0% | 83.00% |
| 1 Yr | 31.6% | 12.4% | 53.5% | 83.00% |
| 3 Yr | 19.1%* | 9.7% | 39.1% | 83.33% |
| 5 Yr | 13.1%* | -0.4% | 38.2% | 82.11% |
| 10 Yr | 4.1%* | -4.6% | 13.6% | 59.02% |
* Annualized
Total Return Ranking - Calendar
| Period | INFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.2% | -9.3% | 25.5% | 74.51% |
| 2022 | 17.5% | -1.2% | 38.8% | 81.63% |
| 2021 | 24.7% | 14.5% | 56.2% | 91.84% |
| 2020 | -14.4% | -53.9% | 155.1% | 15.46% |
| 2019 | 15.6% | -3.4% | 22.4% | 17.24% |
NAV & Total Return History
INFRX - Holdings
Concentration Analysis
| INFRX | Category Low | Category High | INFRX % Rank | |
|---|---|---|---|---|
| Net Assets | 498 M | 22 M | 53.1 B | 52.78% |
| Number of Holdings | 44 | 17 | 89 | 15.69% |
| Net Assets in Top 10 | 281 M | 23.7 M | 3.63 B | 60.78% |
| Weighting of Top 10 | 52.15% | 39.1% | 116.1% | 93.14% |
Top 10 Holdings
- Cheniere Energy Inc 8.10%
- MPLX LP 7.30%
- ONEOK Inc 5.31%
- Targa Resources Corp 4.91%
- Energy Transfer LP 4.90%
- Plains GP Holdings LP 4.88%
- Williams Cos Inc/The 4.86%
- Enterprise Products Partners LP 4.50%
- EQT Corp 4.30%
- Western Midstream Partners LP 3.09%
Asset Allocation
| Weighting | Return Low | Return High | INFRX % Rank | |
|---|---|---|---|---|
| Stocks | 79.31% | 53.33% | 136.34% | 95.10% |
| Bonds | 18.82% | 0.00% | 40.73% | 3.92% |
| Cash | 1.87% | 0.00% | 13.09% | 31.37% |
| Convertible Bonds | 0.79% | 0.00% | 5.29% | 3.92% |
| Preferred Stocks | 0.00% | 0.00% | 2.23% | 25.49% |
| Other | 0.00% | -36.30% | 5.12% | 25.49% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | INFRX % Rank | |
|---|---|---|---|---|
| Energy | 87.52% | 53.73% | 100.00% | 85.29% |
| Utilities | 12.48% | 0.00% | 41.78% | 16.67% |
| Technology | 0.00% | 0.00% | 2.43% | 43.14% |
| Real Estate | 0.00% | 0.00% | 0.00% | 19.61% |
| Industrials | 0.00% | 0.00% | 4.54% | 45.10% |
| Healthcare | 0.00% | 0.00% | 0.00% | 19.61% |
| Financial Services | 0.00% | 0.00% | 0.66% | 24.51% |
| Communication Services | 0.00% | 0.00% | 0.00% | 19.61% |
| Consumer Defense | 0.00% | 0.00% | 0.82% | 20.59% |
| Consumer Cyclical | 0.00% | 0.00% | 1.07% | 31.37% |
| Basic Materials | 0.00% | 0.00% | 6.40% | 63.73% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | INFRX % Rank | |
|---|---|---|---|---|
| US | 79.31% | 48.92% | 136.34% | 78.43% |
| Non US | 0.00% | 0.00% | 39.30% | 63.73% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | INFRX % Rank | |
|---|---|---|---|---|
| Corporate | 88.41% | 0.00% | 99.36% | 7.61% |
| Cash & Equivalents | 1.53% | 0.00% | 86.28% | 38.24% |
| Derivative | 0.00% | -0.81% | 0.09% | 21.57% |
| Securitized | 0.00% | 0.00% | 0.00% | 21.74% |
| Municipal | 0.00% | 0.00% | 0.00% | 21.74% |
| Government | 0.00% | 0.00% | 0.00% | 21.74% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | INFRX % Rank | |
|---|---|---|---|---|
| US | 18.82% | 0.00% | 40.73% | 3.92% |
| Non US | 0.00% | 0.00% | 0.00% | 19.61% |
INFRX - Expenses
Operational Fees
| INFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.38% | 0.35% | 8.81% | 74.26% |
| Management Fee | 1.00% | 0.35% | 1.38% | 58.33% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 22.41% |
| Administrative Fee | N/A | 0.04% | 0.15% | 41.54% |
Sales Fees
| INFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.50% | 4.50% | 5.75% | 35.00% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| INFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 25.00% |
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.
| INFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 22.00% | 6.00% | 166.00% | 20.83% |
INFRX - Distributions
Dividend Yield Analysis
| INFRX | Category Low | Category High | INFRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.98% | 0.00% | 15.34% | 50.93% |
Dividend Distribution Analysis
| INFRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| INFRX | Category Low | Category High | INFRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.75% | -2.83% | 5.84% | 32.67% |
Capital Gain Distribution Analysis
| INFRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 26, 2024 | $0.117 | OrdinaryDividend |
| Aug 22, 2024 | $0.117 | OrdinaryDividend |
| Feb 22, 2024 | $0.114 | OrdinaryDividend |
| Dec 28, 2023 | $0.008 | OrdinaryDividend |
| Nov 28, 2023 | $0.117 | OrdinaryDividend |
| Aug 24, 2023 | $0.117 | OrdinaryDividend |
| May 25, 2023 | $0.117 | OrdinaryDividend |
| Feb 23, 2023 | $0.113 | OrdinaryDividend |
| Nov 22, 2022 | $0.117 | OrdinaryDividend |
| Aug 25, 2022 | $0.113 | OrdinaryDividend |
| May 26, 2022 | $0.113 | OrdinaryDividend |
| Feb 24, 2022 | $0.115 | OrdinaryDividend |
| Nov 23, 2021 | $0.109 | OrdinaryDividend |
| Aug 26, 2021 | $0.109 | OrdinaryDividend |
| May 27, 2021 | $0.117 | OrdinaryDividend |
| Feb 25, 2021 | $0.115 | OrdinaryDividend |
| Dec 30, 2020 | $0.001 | OrdinaryDividend |
| Nov 24, 2020 | $0.114 | OrdinaryDividend |
| Aug 27, 2020 | $0.114 | OrdinaryDividend |
| May 21, 2020 | $0.114 | OrdinaryDividend |
| Feb 27, 2020 | $0.139 | OrdinaryDividend |
| Dec 27, 2019 | $0.000 | OrdinaryDividend |
| Nov 27, 2019 | $0.137 | OrdinaryDividend |
| Aug 29, 2019 | $0.176 | OrdinaryDividend |
| May 30, 2019 | $0.176 | OrdinaryDividend |
| Feb 27, 2019 | $0.176 | OrdinaryDividend |
| Dec 28, 2018 | $0.012 | OrdinaryDividend |
| Nov 29, 2018 | $0.176 | OrdinaryDividend |
| Aug 30, 2018 | $0.175 | OrdinaryDividend |
| May 30, 2018 | $0.176 | OrdinaryDividend |
| Feb 27, 2018 | $0.176 | OrdinaryDividend |
| Dec 28, 2017 | $0.005 | OrdinaryDividend |
| Nov 29, 2017 | $0.176 | OrdinaryDividend |
| Aug 30, 2017 | $0.175 | OrdinaryDividend |
| May 30, 2017 | $0.175 | OrdinaryDividend |
| Feb 27, 2017 | $0.174 | OrdinaryDividend |
| Dec 29, 2016 | $0.002 | OrdinaryDividend |
| Nov 29, 2016 | $0.174 | OrdinaryDividend |
| Aug 30, 2016 | $0.174 | OrdinaryDividend |
| May 27, 2016 | $0.175 | OrdinaryDividend |
| Feb 26, 2016 | $0.176 | OrdinaryDividend |
| Dec 30, 2015 | $0.024 | OrdinaryDividend |
| Nov 24, 2015 | $0.173 | OrdinaryDividend |
| Aug 28, 2015 | $0.171 | OrdinaryDividend |
| May 28, 2015 | $0.168 | OrdinaryDividend |
| Feb 26, 2015 | $0.167 | OrdinaryDividend |
| Dec 30, 2014 | $0.014 | OrdinaryDividend |
| Nov 25, 2014 | $0.367 | OrdinaryDividend |
| Aug 28, 2014 | $0.163 | OrdinaryDividend |
| May 29, 2014 | $0.163 | OrdinaryDividend |
| Feb 27, 2014 | $0.162 | OrdinaryDividend |
| Dec 27, 2013 | $0.014 | OrdinaryDividend |
| Nov 26, 2013 | $0.140 | OrdinaryDividend |
| Aug 29, 2013 | $0.147 | OrdinaryDividend |
| May 30, 2013 | $0.152 | OrdinaryDividend |
| Feb 27, 2013 | $0.157 | OrdinaryDividend |
| Dec 28, 2012 | $0.010 | OrdinaryDividend |
| Nov 29, 2012 | $0.154 | OrdinaryDividend |
| Aug 30, 2012 | $0.154 | OrdinaryDividend |
| May 30, 2012 | $0.153 | OrdinaryDividend |
| Feb 28, 2012 | $0.150 | OrdinaryDividend |
| Nov 30, 2011 | $0.150 | OrdinaryDividend |
| Aug 31, 2011 | $0.150 | OrdinaryDividend |
INFRX - Fund Manager Analysis
Managers
Quinn Kiley
Start Date
Tenure
Tenure Rank
Dec 27, 2010
11.43
11.4%
Mr. Kiley joined the firm in 2005 through a predecessor firm and is a senior portfolio manager for the Tortoise MLP & Energy Income Fund and the Tortoise MLP & Energy Infrastructure fund, open-end mutual funds. Additionally, he serves as portfolio manager for the Fiduciary/Claymore Energy Infrastructure Fund, a closed-end mutual fund. He previously served as vice president of Corporate & Investment Banking at Banc of America Securities in New York and was responsible for executing strategic advisory and financing transactions for clients in the energy & power sectors. Mr. Kiley graduated from Washington & Lee University with a Bachelor of Science degree with honors in geology and also earned a Master of Science degree in geology from the University of Montana, and a Master of Business Administration degree from the Kelley School of Business at Indiana University. Additionally, he earned a Juris Doctorate from Indiana University School of Law and was admitted to the bar in New York. He serves on the finance committees of Rossman School and the Magic House. 032521
Brian Kessens
Start Date
Tenure
Tenure Rank
Oct 30, 2020
1.58
1.6%
Mr. Brian Kessens joined the firm in 2008. He is a managing director and senior portfolio manager, a member of the investment committee and serves as president of the Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power & Energy Infrastructure Fund, Inc. closed-end funds. Previously, Mr. Kessens was a vice president in Citigroup’s global energy investment banking practice. Prior to Citigroup, he served as a field artillery officer in the U.S. Army. Mr. Kessens earned a Bachelor of Science in economics degree from the U.S. Military Academy at West Point and a Master of Business Administration degree from Columbia Business School in New York. He is a CFA® charterholder. He served as Board President and nearly a decade as a board member and Treasurer for the Children’s Center for the Visually Impaired (CCVI), a Kansas City nonprofit preparing children with visual impairments to reach their highest potential in the sighted world. 032521
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 15.78 | 7.75 | 12.18 |
