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Trending ETFs

Name

As of 03/27/2024

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

$13.51

$30.8 M

3.63%

$0.49

1.69%

Vitals

YTD Return

10.5%

1 yr return

26.9%

3 Yr Avg Return

25.4%

5 Yr Avg Return

11.4%

Net Assets

$30.8 M

Holdings in Top 10

63.1%

52 WEEK LOW AND HIGH

$13.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.69%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 49.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$13.51

$30.8 M

3.63%

$0.49

1.69%

VLPAX - Profile

Distributions

  • YTD Total Return 10.5%
  • 3 Yr Annualized Total Return 25.4%
  • 5 Yr Annualized Total Return 11.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.14%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Virtus Duff & Phelps Select MLP and Energy Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Sep 09, 2015
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Grumhaus

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in securities of master limited partnerships (“MLPs”) and/or other equity securities in energy and energy-related industries. The fund invests in securities of C-corporations, MLPs, general partners of MLPs (“GPs”), and MLP-related securities with a primary focus on midstream energy infrastructure. The companies in which the fund invests engage in the transportation, storage, gathering, processing, treatment, refining, marketing, or distribution of natural gas, natural gas liquids, crude oil, chemicals, electricity and refined products, and/or the generation of electricity from coal, natural gas, nuclear, solar, water, wind, wood and other renewable sources.

MLP-related securities include MLP shares, limited liability companies (“LLCs”) that bear the economic characteristics of MLPs, midstream energy shipping companies structured similarly to MLPs, other companies focused on midstream energy infrastructure including energy-related yieldcos, and exchange-traded notes (“ETNs”) that derive their returns from a master limited partnership index. In determining whether a security is considered by the fund to be energy or energy-related, the subadviser primarily relies upon the issuer’s Global Industry Classification Standard (“GICS”) sector classification; those issuers classified by GICS as being in the energy sector (including renewable energy) and those issuers classified as being in the utility sector that also have substantial exposure to either midstream or renewable energy will be considered to be energy or energy-related. Although the fund’s 80% test does not require it, certain securities, such as LLCs that bear the economic characteristics of MLPs, may be considered by the fund to be both MLPs and energy or energy-related for the purposes of the 80% test.

The subadviser will utilize a deep fundamental, bottom-up approach to capture attractive total return potential and distribution growth opportunities across the energy infrastructure spectrum. The fund is not limited by market capitalizations or country exposure, and may invest in emerging markets issuers, although the subadviser expects that a vast majority of the portfolio will be invested in U.S. equities due to the nature of MLP and midstream energy investing.

As part of its total return strategy, the fund will generate both income and capital appreciation. The fund intends to be taxed as a registered investment company (“RIC”), and comply with all RIC-related restrictions including limiting its investments in qualified publicly-traded MLPs to 25%, thereby avoiding taxation as a C-corporation under the Internal Revenue Code. Qualification as a RIC also requires that at least 50% of the fund’s portfolio consist of positions that are less than 5% of the fund’s assets. There is no limit to investing in MLPs structured as C-corporations for tax purposes. The fund’s allocation to ETNs and/or structured notes will vary over time, has generally been in the 0-3% range, and will not exceed 10% of assets.

The fund is non-diversified under federal securities laws and will concentrate its investments in companies in energy and energy-related industries as defined above.

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VLPAX - Performance

Return Ranking - Trailing

Period VLPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.5% 2.5% 16.0% 61.90%
1 Yr 26.9% 7.1% 49.6% 60.95%
3 Yr 25.4%* 5.7% 35.7% 37.62%
5 Yr 11.4%* -7.8% 33.2% 14.44%
10 Yr N/A* -6.0% 11.5% N/A

* Annualized

Return Ranking - Calendar

Period VLPAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.1% -14.9% 18.2% 49.53%
2022 26.5% -7.0% 29.9% 7.77%
2021 39.7% 4.2% 55.3% 11.65%
2020 -23.5% -57.4% 155.1% 24.51%
2019 6.2% -8.9% 20.8% 36.96%

Total Return Ranking - Trailing

Period VLPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.5% 2.5% 16.0% 61.90%
1 Yr 26.9% 7.1% 49.6% 60.95%
3 Yr 25.4%* 5.7% 35.7% 37.62%
5 Yr 11.4%* -7.8% 33.2% 14.44%
10 Yr N/A* -6.0% 11.5% N/A

* Annualized

Total Return Ranking - Calendar

Period VLPAX Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -9.3% 25.5% 73.83%
2022 30.4% -1.2% 38.8% 15.53%
2021 44.5% 11.1% 56.2% 16.50%
2020 -19.1% -53.9% 155.1% 25.49%
2019 7.5% -3.4% 34.1% 71.74%

NAV & Total Return History


VLPAX - Holdings

Concentration Analysis

VLPAX Category Low Category High VLPAX % Rank
Net Assets 30.8 M 22 M 53.1 B 96.49%
Number of Holdings 25 16 85 62.96%
Net Assets in Top 10 19.6 M 18.8 M 3.1 B 98.15%
Weighting of Top 10 63.13% 40.8% 111.7% 70.37%

Top 10 Holdings

  1. Cheniere Energy Inc 11.65%
  2. Targa Resources Corp 10.56%
  3. ONEOK Inc 6.47%
  4. Williams Cos Inc/The 6.47%
  5. MPLX LP 5.88%
  6. Energy Transfer LP 4.86%
  7. Enterprise Products Partners LP 4.81%
  8. Plains GP Holdings LP 4.71%
  9. Sempra 3.91%
  10. EnLink Midstream LLC 3.82%

Asset Allocation

Weighting Return Low Return High VLPAX % Rank
Stocks
96.79% 53.33% 133.88% 77.78%
Cash
3.21% 0.00% 13.09% 12.96%
Preferred Stocks
0.00% 0.00% 2.34% 50.00%
Other
0.00% -36.30% 5.12% 42.59%
Convertible Bonds
0.00% 0.00% 5.29% 47.22%
Bonds
0.00% 0.00% 40.73% 49.07%

Stock Sector Breakdown

Weighting Return Low Return High VLPAX % Rank
Energy
89.38% 53.73% 100.00% 76.85%
Utilities
5.50% 0.00% 41.78% 27.78%
Basic Materials
3.10% 0.00% 6.40% 6.48%
Technology
2.02% 0.00% 2.43% 1.85%
Real Estate
0.00% 0.00% 0.26% 43.52%
Industrials
0.00% 0.00% 4.54% 62.04%
Healthcare
0.00% 0.00% 0.00% 43.52%
Financial Services
0.00% 0.00% 0.66% 45.37%
Communication Services
0.00% 0.00% 0.00% 43.52%
Consumer Defense
0.00% 0.00% 0.82% 43.52%
Consumer Cyclical
0.00% 0.00% 1.07% 48.15%

Stock Geographic Breakdown

Weighting Return Low Return High VLPAX % Rank
US
92.58% 48.92% 132.40% 61.11%
Non US
4.21% 0.00% 26.09% 41.67%

VLPAX - Expenses

Operational Fees

VLPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.69% 0.35% 8.56% 61.68%
Management Fee 0.90% 0.35% 1.38% 28.07%
12b-1 Fee 0.25% 0.00% 1.00% 31.03%
Administrative Fee 0.10% 0.04% 0.15% 72.73%

Sales Fees

VLPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 4.50% 5.75% 60.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

VLPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 66.67%

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.

VLPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 6.00% 166.00% 67.65%

VLPAX - Distributions

Dividend Yield Analysis

VLPAX Category Low Category High VLPAX % Rank
Dividend Yield 3.63% 0.00% 19.43% 84.21%

Dividend Distribution Analysis

VLPAX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annual Quarterly Annual

Net Income Ratio Analysis

VLPAX Category Low Category High VLPAX % Rank
Net Income Ratio -0.14% -6.38% 9.57% 55.14%

Capital Gain Distribution Analysis

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

Distributions History

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VLPAX - Fund Manager Analysis

Managers

David Grumhaus


Start Date

Tenure

Tenure Rank

Sep 09, 2015

6.73

6.7%

David Grumhaus is President and Chief Investment Officer of Duff & Phelps Investment Management Co. Mr. Grumhaus oversees all of the firm’s investment strategies, chairs the firm’s investment meetings, leads the executive committee and directs strategic initiatives and resource planning. Mr. Grumhaus is also a Senior Portfolio Manager for the firm’s Energy Infrastructure strategies. Mr. Grumhaus has over two decades of experience working in the investment management industry. Prior to joining Duff & Phelps in 2014, Mr. Grumhaus served as a Portfolio Manager and Director of Research for Copia Capital, an Energy and Utility focused hedge fund. He previously worked as an investment banker for Goldman, Sachs & Co. and William Blair & Company, LLC. Mr. Grumhaus holds a BA in History, cum laude, from Princeton University and an MBA from Harvard Graduate School of Business Administration, where he was a George F. Baker scholar. In addition, he is a member of the Investment Committee at the Ann and Robert H. Lurie Children's Hospital of Chicago and serves as Board President of the Beyond Sports Foundation. Mr. Grumhaus served as an Alderman and finance chair for City of Lake Forest, IL from 2005 - 2011. Significant roles and professional affiliations • Member of the Investment Committee at Ann and Robert H. Lurie Children's Hospital of Chicago • Former Alderman and finance chair for City of Lake Forest, IL (2005 - 2011)

Rodney Clayton


Start Date

Tenure

Tenure Rank

Feb 01, 2020

2.33

2.3%

Rodney Clayton, Managing Director, serves as Portfolio Manager and Senior Research Analyst for MLPs and Energy Infrastructure at Duff & Phelps Investment Management Co. Mr. Clayton concentrates his research on North American midstream energy companies. Prior to joining Duff & Phelps in April 2016, Mr. Clayton was a senior manager due diligence analyst at UBS Financial Services, focusing on MLP, large cap value, and equity income strategies; and an equity research analyst at J.P. Morgan Securities covering the Exploration & Production, Engineering & Construction, and Environmental Services industries. Mr. Clayton completed his undergraduate studies and holds a MBA from Florida A&M University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.81 12.18