MLP investment manager Yorkville ETF Advisors has filed with the SEC to expand its rules-based series of exchanged-traded funds focusing on master limited partnership (MLPs) investments.
The new ETFs are the Yorkville High Income Composite MLP ETF and the Yorkville High Income Infrastructure MLP ETF. The Indexes are comprised of MLPs that meet certain criteria relating to current yield, coverage ratio and distribution growth.
In particular, the Yorkville High Income Composite MLP ETF will track the Solactive High Income Composite MLP Index, a composite representing every MLP sector.
Meanwhile, the Yorkville High Income Infrastructure MLP ETF will track the Solactive High Income Infrastructure MLP Index, a well-diversified, rules-based index focused on the infrastructure sectors of the MLP asset class.
"These filings come on the heels of the successful Yorkville High Income MLP ETF (YMLP) launch, which is the first and only ETF to deliver exposure to high income, commodity-based MLPs. Since its launch, YMLP has become the third-most successful ETF launch in 2012 in terms of average daily volume," said Darren Schuringa, managing partner at Yorkville ETF Advisors, in a statement.
Exchange Traded Concepts, LLC will serve as investment adviser to the Fund, while Yorkville ETF Advisors, LLC and Index Management Solutions, LLC will serve as sub-advisers.
The Solactive Indexes are sponsored by Structured Solutions AG, which is independent of the Fund. Structured Solutions AG determines the components and relative weightings of the securities in the Index and publishes information regarding the Index.
The ETF noted by Schuringa was launched in December and focuses on master limited partnership specializing in the production and transportation of natural resources.