MLPDX: Oppenheimer SteelPath MLP Income A

Welcome to MutualFunds.com. Please help us personalize your experience.

Select the one that best describes you

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission, we hope you enjoy your experience

MLPDX Oppenheimer SteelPath MLP Income A

  • Fund
  • MLPDX
  • Price as of: Dec 06, 2019
  • $4.45
    + $0.01 + 0.23%

Profile

MLPDX - Profile

Vitals

  • YTD Return -10.6%
  • 3 Yr Annualized Return -15.9%
  • 5 Yr Annualized Return -16.1%
  • Net Assets $2.73 B
  • Holdings in Top 10 70.6%

52 WEEK LOW AND HIGH

$4.45
$4.43
$5.83

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.49%

SALES FEES

  • Front Load 5.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 30.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $250

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Distributions

  • YTD Total Return -9.6%
  • 3 Yr Annualized Total Return -9.4%
  • 5 Yr Annualized Total Return -8.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.73%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Oppenheimer SteelPath MLP Income Fund
  • Fund Family Name
    OppenheimerFunds
  • Inception Date
    Mar 31, 2010
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian D. Watson

Fund Description

The Oppenheimer SteelPath MLP Income Fund Class A (MLPDX) is an actively managed fund that focuses on the master limited partnership (MLP) segment of the energy sector. The fund uses fundamental analysis to identify U.S. midstream pipeline MLPs that have strong projected distribution growth and high current distributions. MLPDX overweights MLPs with those attributes but that are trading for discounts to their potential values.

Given its narrow focus on one small segment of the energy sector, MLPDX is suitable as a small satellite position. The fund is managed by Oppenheimer Funds.


Get Updates About MLPDX

Sign up for Advisor Access to receive email updates about MLPDX competitors, news, CE accredited webcasts and more.

Please Enter Your Email
Please Select Your Advisor Type

Categories

Fund Company Quick Screens

MLPDX - Fund Company Quick Screens


Performance

MLPDX - Performance

Return Ranking - Trailing

Period MLPDX Return Category Return Low Category Return High Rank in Category (%)
YTD -10.6% -30.2% 67.5% 89.84%
1 Yr -17.9% -43.0% 51.9% 89.33%
3 Yr -15.9%* -21.5% 38.3% 91.21%
5 Yr -16.1%* -25.7% 25.4% 88.60%
10 Yr N/A* -8.1% 32.5% N/A

* Annualized

Return Ranking - Calendar

Period MLPDX Return Category Return Low Category Return High Rank in Category (%)
2018 -22.4% -35.0% 7.5% 82.15%
2017 -17.2% -25.3% 59.5% 92.76%
2016 11.2% -22.0% 47.9% 28.73%
2015 -34.5% -65.1% 127.1% 81.47%
2014 -3.9% -21.5% 39.1% 87.17%

Total Return Ranking - Trailing

Period MLPDX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.6% -30.2% 67.5% 90.38%
1 Yr -17.0% -32.3% 51.9% 88.20%
3 Yr -9.4%* -21.5% 38.3% 85.34%
5 Yr -8.8%* -25.7% 25.4% 81.14%
10 Yr N/A* -7.6% 32.5% N/A

* Annualized

Total Return Ranking - Calendar

Period MLPDX Return Category Return Low Category Return High Rank in Category (%)
2018 -13.1% -31.5% 8.2% 59.08%
2017 -8.6% -25.3% 68.6% 87.17%
2016 24.2% -22.0% 65.5% 12.36%
2015 -28.9% -65.1% 127.1% 77.59%
2014 3.0% -21.4% 39.1% 58.29%

NAV & Total Return History


Holdings

MLPDX - Holdings

Concentration Analysis

MLPDX Category Low Category High MLPDX % Rank
Net Assets 2.73 B 1.07 M 8.11 B 4.84%
Number of Holdings 35 5 2006 60.58%
Net Assets in Top 10 2.1 B -877 M 2.35 B 1.06%
Weighting of Top 10 70.57% 9.5% 461.9% 43.92%

Top 10 Holdings

  1. Energy Transfer LP 10.91%
  2. Sunoco LP 10.26%
  3. NuStar Energy LP 7.46%
  4. Genesis Energy LP 7.19%
  5. Tallgrass Energy LP Class A 6.92%
  6. NGL Energy Partners LP 6.40%
  7. USA Compression Partners LP 5.93%
  8. TC Pipelines LP 5.88%
  9. Antero Midstream Corp 5.54%
  10. EQM Midstream Partners LP 4.09%

Asset Allocation

Weighting Return Low Return High MLPDX % Rank
Stocks
96.97% 80.31% 259.02% 61.90%
Preferred Stocks
2.05% -0.12% 9.85% 8.20%
Cash
0.63% -105.83% 56.78% 69.05%
Bonds
0.34% -235.37% 50.30% 15.61%
Other
0.00% -61.62% 39.16% 15.87%
Convertible Bonds
0.00% 0.00% 3.22% 13.23%

Stock Sector Breakdown

Weighting Return Low Return High MLPDX % Rank
Energy
90.41% -1.17% 163.77% 21.83%
Utilities
3.65% -10.13% 33.33% 28.30%
Industrials
2.92% -7.69% 47.62% 69.00%
Technology
0.00% 0.00% 49.57% 86.52%
Real Estate
0.00% -0.33% 84.03% 67.65%
Healthcare
0.00% 0.00% 34.92% 71.70%
Financial Services
0.00% 0.00% 116.57% 73.58%
Communication Services
0.00% 0.00% 19.46% 83.29%
Consumer Defense
0.00% -11.86% 30.80% 68.46%
Consumer Cyclical
0.00% 0.00% 32.58% 71.97%
Basic Materials
0.00% -1.05% 14.70% 77.36%

Stock Geographic Breakdown

Weighting Return Low Return High MLPDX % Rank
US
93.56% 80.21% 203.82% 52.12%
Non US
3.41% -1.52% 156.62% 31.75%

Bond Sector Breakdown

Weighting Return Low Return High MLPDX % Rank
Corporate
2.05% -96.61% 56.78% 18.52%
Cash & Equivalents
0.63% -105.83% 35.08% 70.11%
Derivative
0.00% 0.00% 10.29% 54.23%
Securitized
0.00% 0.00% 53.71% 54.76%
Municipal
0.00% 0.00% 1.08% 56.08%
Government
0.00% -242.46% 50.30% 54.23%

Bond Geographic Breakdown

Weighting Return Low Return High MLPDX % Rank
US
0.34% -263.24% 50.30% 15.34%
Non US
0.00% -1.25% 38.23% 13.23%

Expenses

MLPDX - Expenses

Operational Fees

MLPDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% -2.86% 37.17% 63.74%
Management Fee 0.95% 0.00% 2.64% 49.74%
12b-1 Fee 0.25% 0.00% 1.00% 19.52%
Administrative Fee N/A 0.04% 0.45% N/A

Sales Fees

MLPDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.00% 5.75% 47.44%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MLPDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

MLPDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 0.00% 5191.00% 27.66%

Distributions

MLPDX - Distributions

Dividend Yield Analysis

MLPDX Category Low Category High MLPDX % Rank
Dividend Yield 5.11% 0.00% 77.89% 5.29%

Dividend Distribution Analysis

MLPDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MLPDX Category Low Category High MLPDX % Rank
Net Income Ratio -1.73% -7.28% 9.57% 91.48%

Capital Gain Distribution Analysis

MLPDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

MLPDX - Fund Manager Analysis

Managers

Brian D. Watson


Start Date

Tenure

Tenure Rank

Mar 31, 2010

9.67

9.7%

Brian Watson serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Panoramic and Focused MLP strategies. Prior to joining SteelPath in 2009, Brian was a portfolio manager and led the MLP research effort at Swank Capital LLC, in Dallas, Texas. He also covered the MLP and Diversified Energy sectors for RBC Capital Markets in the firm’s Equity Research Division from 2002 to 2005. Prior to this, Brian worked for Prudential Capital Group, helping to analyze, structure, and invest in debt private placements issued primarily by companies involved in the energy industry including those involved in oil field services, midstream services, and oil and gas exploration and production. Brian holds a BBA from the University of Texas at Austin and an MBA from the McCombs School of Business at the University of Texas at Austin. He is also a CFA charter holder.

Stuart Cartner


Start Date

Tenure

Tenure Rank

Mar 31, 2010

9.67

9.7%

Stuart Cartner serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Focused MLP, and MLP & Energy Infrastructure strategies. Prior to joining SteelPath, Stuart was Vice President in the Private Wealth Management Division of Goldman, Sachs & Co. As a Private Wealth Advisor for nineteen years at Goldman, he was responsible for managing a $200 million portfolio of midstream Master Limited Partnerships for over a decade. Prior to his time at Goldman, Stuart worked at Trammell Crow Company and General Electric. Stuart holds a B.S. in Finance and Management from Indiana University and an MBA in Finance and Marketing with Distinction from the Kellogg Graduate School of Management, Northwestern University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.43 41.45 5.93 9.67