SPNNX: Invesco Oppenheimer SteelPath MLP Income Fund

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SPNNX Invesco Oppenheimer SteelPath MLP Income Fund


Profile

SPNNX - Profile

Vitals

  • YTD Return -41.7%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $1.7 B
  • Holdings in Top 10 74.9%

52 WEEK LOW AND HIGH

$2.91
$1.45
$5.34

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.71%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 35.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

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

Distributions

  • YTD Total Return -41.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.38%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Oppenheimer SteelPath MLP Income Fund
  • Fund Family Name
    Invesco
  • Inception Date
    May 24, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian Watson

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in master limited partnership ("MLP") investments of issuers that are engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources and in derivatives and other instruments that have economic characteristics similar to such securities. The fund is non-diversified.


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Categories

Fund Company Quick Screens

SPNNX - Fund Company Quick Screens


Performance

SPNNX - Performance

Return Ranking - Trailing

Period SPNNX Return Category Return Low Category Return High Rank in Category (%)
YTD -41.7% -85.6% 111.9% 94.22%
1 Yr -42.9% -86.2% 99.6% 94.22%
3 Yr N/A* -53.7% 35.2% 62.38%
5 Yr N/A* -43.8% 30.5% 65.38%
10 Yr N/A* -11.7% 35.5% N/A

* Annualized

Return Ranking - Calendar

Period SPNNX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -24.2% 71.9% N/A
2018 N/A -35.0% 12.7% N/A
2017 N/A -25.3% 59.5% N/A
2016 N/A -15.5% 42.5% N/A
2015 N/A -65.1% 11.8% N/A

Total Return Ranking - Trailing

Period SPNNX Return Category Return Low Category Return High Rank in Category (%)
YTD -41.7% -85.6% 111.9% 94.22%
1 Yr -42.9% -86.2% 99.6% 94.22%
3 Yr N/A* -53.7% 40.6% 64.31%
5 Yr N/A* -43.8% 33.7% 67.09%
10 Yr N/A* -6.5% 37.3% N/A

* Annualized

Total Return Ranking - Calendar

Period SPNNX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -22.9% 71.9% N/A
2018 N/A -31.5% 12.7% N/A
2017 N/A -25.3% 68.6% N/A
2016 N/A -15.5% 42.5% N/A
2015 N/A -65.1% 11.8% N/A

NAV & Total Return History


Holdings

SPNNX - Holdings

Concentration Analysis

SPNNX Category Low Category High SPNNX % Rank
Net Assets 1.7 B 105 K 9.69 B 7.47%
Number of Holdings 31 5 1562 53.74%
Net Assets in Top 10 1.25 B -225 M 2.73 B 5.34%
Weighting of Top 10 74.92% 16.4% 238.7% 33.48%

Top 10 Holdings

  1. MPLX LP Partnership Units 13.36%
  2. Energy Transfer LP 12.77%
  3. Sunoco LP 9.56%
  4. Western Midstream Partners LP 8.16%
  5. USA Compression Partners LP 7.20%
  6. Antero Midstream Corp 5.82%
  7. Genesis Energy LP 5.02%
  8. EnLink Midstream LLC 4.51%
  9. NuStar Energy LP 4.36%
  10. Suburban Propane Partners LP 4.17%

Asset Allocation

Weighting Return Low Return High SPNNX % Rank
Stocks
95.97% 81.37% 325.56% 65.12%
Bonds
1.80% -43.96% 56.94% 17.08%
Preferred Stocks
1.31% -0.29% 7.00% 9.96%
Cash
0.92% -225.56% 20.91% 61.92%
Other
0.00% -52.75% 85.39% 32.03%
Convertible Bonds
0.00% 0.00% 4.97% 33.45%

Stock Sector Breakdown

Weighting Return Low Return High SPNNX % Rank
Energy
94.12% 0.00% 100.00% 22.57%
Utilities
4.35% 0.00% 48.22% 22.18%
Industrials
1.53% 0.00% 46.89% 67.32%
Technology
0.00% 0.00% 53.21% 76.26%
Real Estate
0.00% 0.00% 97.46% 74.32%
Healthcare
0.00% 0.00% 98.52% 77.82%
Financial Services
0.00% 0.00% 46.18% 75.88%
Communication Services
0.00% 0.00% 24.63% 73.93%
Consumer Defense
0.00% 0.00% 72.02% 75.10%
Consumer Cyclical
0.00% 0.00% 36.54% 76.26%
Basic Materials
0.00% 0.00% 16.01% 79.77%

Stock Geographic Breakdown

Weighting Return Low Return High SPNNX % Rank
US
93.49% 80.06% 325.56% 56.23%
Non US
2.48% -5.02% 39.88% 34.88%

Bond Sector Breakdown

Weighting Return Low Return High SPNNX % Rank
Corporate
58.69% 0.00% 100.00% 14.64%
Cash & Equivalents
41.31% -0.91% 100.00% 73.21%
Derivative
0.00% 0.00% 32.38% 31.07%
Securitized
0.00% 0.00% 20.32% 32.86%
Municipal
0.00% 0.00% 2.61% 32.14%
Government
0.00% 0.00% 99.56% 36.43%

Bond Geographic Breakdown

Weighting Return Low Return High SPNNX % Rank
US
1.80% -43.96% 30.56% 17.08%
Non US
0.00% -4.33% 27.84% 34.88%

Expenses

SPNNX - Expenses

Operational Fees

SPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.71% 0.37% 37.17% 57.45%
Management Fee 0.95% 0.00% 2.64% 42.35%
12b-1 Fee 0.50% 0.00% 1.00% 70.12%
Administrative Fee N/A 0.05% 0.45% N/A

Sales Fees

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

Trading Fees

SPNNX 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.

SPNNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 0.00% 5191.00% 40.64%

Distributions

SPNNX - Distributions

Dividend Yield Analysis

SPNNX Category Low Category High SPNNX % Rank
Dividend Yield 0.00% 0.00% 23.00% 37.37%

Dividend Distribution Analysis

SPNNX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Annually

Net Income Ratio Analysis

SPNNX Category Low Category High SPNNX % Rank
Net Income Ratio -1.38% -3.05% 6.50% 90.97%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

SPNNX - Fund Manager Analysis

Managers

Brian Watson


Start Date

Tenure

Tenure Rank

Mar 31, 2010

10.34

10.3%

Brian Watson, CFA, Portfolio Manager, who has been responsible for the Fund since 2019 and has been associated with Invesco and/or its affiliates since 2019. Prior to the commencement of the Fund’s operations, Mr. Watson managed the predecessor fund since 2010 and was associated with OppenheimerFunds, a global asset management firm since 2012. 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 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

10.34

10.3%

Stuart Cartner, Portfolio Manager, who has been responsible for the Invesco Advisers, Inc. since 2019 and has been associated with Invesco and/or its affiliates since 2019. Prior to the commencement of operations, Mr. Cartner managed the predecessor fund since 2010 and was associated with OppenheimerFunds, a global asset management firm, since 2012. Stuart Cartner served 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
0.17 31.99 5.94 10.34