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Name

As of 06/01/2026

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

NXG Cushing Midstream Energy Fund of Benef Interest

SRV | Fund

$48.82

$318 M

11.06%

$5.40

2.81%

Vitals

YTD Return

31.7%

1 yr return

41.9%

3 Yr Avg Return

27.9%

5 Yr Avg Return

18.4%

Net Assets

$318 M

Holdings in Top 10

55.8%

52 WEEK LOW AND HIGH

$49.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 77.57%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Closed-end mutual fund

Name

As of 06/01/2026

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

NXG Cushing Midstream Energy Fund of Benef Interest

SRV | Fund

$48.82

$318 M

11.06%

$5.40

2.81%

SRV - Profile

Distributions

  • YTD Total Return 31.7%
  • 3 Yr Annualized Total Return 27.9%
  • 5 Yr Annualized Total Return 18.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.74%
DIVIDENDS
  • Dividend Yield 11.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    NXG Cushing Midstream Energy Fund of Benef Interest
  • Fund Family Name
    Cushing Asset Management LP
  • Inception Date
    Sep 01, 2010
  • Shares Outstanding
    2183391
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Musgrave

Fund Description

SRV - Performance

Return Ranking - Trailing

Period SRV Return Category Return Low Category Return High Rank in Category (%)
YTD 31.7% 11.2% 33.8% 7.14%
1 Yr 41.9% 11.9% 58.6% 6.12%
3 Yr 27.9%* 16.0% 31.8% 19.39%
5 Yr 18.4%* 13.6% 27.4% 76.60%
10 Yr 9.1%* -2.0% 19.2% 55.22%

* Annualized

Return Ranking - Calendar

Period SRV Return Category Return Low Category Return High Rank in Category (%)
2025 -10.6% -15.4% 15.3% 93.88%
2024 19.4% -22.4% 40.9% 73.47%
2023 -6.5% -14.9% 18.2% 93.88%
2022 5.5% -7.0% 29.9% 90.43%
2021 30.4% 4.2% 42.7% 46.81%

Total Return Ranking - Trailing

Period SRV Return Category Return Low Category Return High Rank in Category (%)
YTD 31.7% 11.2% 33.8% 7.14%
1 Yr 41.9% 11.9% 58.6% 6.12%
3 Yr 27.9%* 16.0% 31.8% 19.39%
5 Yr 18.4%* 13.6% 27.4% 76.60%
10 Yr 9.1%* -2.0% 19.2% 55.22%

* Annualized

Total Return Ranking - Calendar

Period SRV Return Category Return Low Category Return High Rank in Category (%)
2025 7.1% -8.7% 17.4% 22.45%
2024 37.3% 10.3% 48.4% 55.10%
2023 7.7% -1.8% 25.5% 91.84%
2022 13.7% 8.1% 38.8% 94.68%
2021 35.6% 21.2% 56.2% 88.30%

NAV & Total Return History

SRV - Holdings

Concentration Analysis

SRV Category Low Category High SRV % Rank
Net Assets 318 M 22 M 53.1 B 72.12%
Number of Holdings 34 15 80 25.51%
Net Assets in Top 10 65.6 M 27.8 M 4.3 B 89.80%
Weighting of Top 10 55.81% 36.5% 113.9% 87.76%

Top 10 Holdings

  1. Targa Resources Corp 7.20%
  2. First American Government Obligs X 6.54%
  3. First American Treasury Obligs X 6.54%
  4. Energy Transfer LP 6.48%
  5. Western Midstream Partners LP 5.80%
  6. Plains GP Holdings LP Class A 5.62%
  7. Cheniere Energy Inc 5.55%
  8. TC Energy Corp 5.10%
  9. Clearway Energy Inc Class C 4.97%
  10. Kinder Morgan Inc Class P 4.64%

Asset Allocation

Weighting Return Low Return High SRV % Rank
Stocks 		84.83% 74.72% 143.43% 94.90%
Cash 		13.09% 0.00% 20.61% 2.04%
Preferred Stocks 		2.08% 0.00% 2.23% 3.06%
Other 		0.00% -36.30% 4.76% 41.84%
Convertible Bonds 		0.00% 0.00% 0.00% 47.96%
Bonds 		0.00% -1.32% 0.59% 50.00%

Stock Sector Breakdown

Weighting Return Low Return High SRV % Rank
Energy 		86.20% 53.73% 100.00% 82.65%
Utilities 		10.25% 0.00% 41.78% 17.35%
Technology 		2.43% 0.00% 2.43% 1.02%
Industrials 		1.11% 0.00% 4.54% 4.08%
Real Estate 		0.00% 0.00% 0.00% 47.96%
Healthcare 		0.00% 0.00% 0.00% 47.96%
Financial Services 		0.00% 0.00% 0.66% 50.00%
Communication Services 		0.00% 0.00% 0.00% 47.96%
Consumer Defense 		0.00% 0.00% 0.82% 47.96%
Consumer Cyclical 		0.00% 0.00% 1.07% 53.06%
Basic Materials 		0.00% 0.00% 6.40% 66.33%

Stock Geographic Breakdown

Weighting Return Low Return High SRV % Rank
US 		75.11% 65.22% 143.43% 87.76%
Non US 		9.72% 0.00% 33.69% 24.49%

SRV - Expenses

Operational Fees

SRV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.81% 0.35% 5.35% 9.38%
Management Fee 1.25% 0.35% 1.38% 90.38%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.15% N/A

Sales Fees

SRV 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

SRV 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.

SRV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 77.57% 6.00% 166.00% 79.35%

SRV - Distributions

Dividend Yield Analysis

SRV Category Low Category High SRV % Rank
Dividend Yield 11.06% 0.00% 15.34% 95.19%

Dividend Distribution Analysis

SRV Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Quarterly

Net Income Ratio Analysis

SRV Category Low Category High SRV % Rank
Net Income Ratio -0.74% -2.83% 5.84% 73.96%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SRV - Fund Manager Analysis

Managers

John Musgrave

Start Date

Tenure

Tenure Rank

May 29, 2020

2.01

2.0%

John Musgrave has worked as an investment analyst in the energy industry since 2004. Mr. Musgrave previously worked in Citigroup’s investment banking division where he focused on corporate finance and mergers & acquisitions in a wide range of industries, including energy MLPs. He also worked as an analyst for UBS Investment Bank’s Global Energy Group. Mr. Musgrave joined Cushing Asset Management in 2007, and his roles include research and portfolio management for the firm’s MLP-related funds. Mr. Musgrave received his B.B.A. in Finance from Texas A&M University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.87 12.18

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