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EMLP vs PIPE

First Trust North American Energy Infrastructure Fund vs Invesco SteelPath MLP & Energy Infrastructure ETF

EMLP

First Trust North American Energy Infrastructure Fund

First Trust

Annual cost

0.95%

Fund size

$4.1B

PIPE

Invesco SteelPath MLP & Energy Infrastructure ETF

Invesco

Annual cost

0.75%

Fund size

$64M

Key differences

  • PIPE costs 0.20% less per year.
  • EMLP is significantly larger than PIPE — larger funds tend to be more liquid and less likely to close.
  • EMLP follows a index tracking strategy; PIPE uses active selection.
  • EMLP has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

EMLPPIPE
Annual cost (TER)0.95%0.75%
Fund size (AUM)$4.1B$64M
Since20122025
Dividend yield2.69%3.64%
Asset classequityequity
Regionglobal
Strategyindex trackingactive selection
CAGR 1Y+22.5%+31.4%
CAGR 3Y+22.0%N/A
CAGR 5Y+16.6%N/A
Sharpe 3Y1.33N/A
Volatility 1Y9.80%14.18%
Max drawdown-43.61%-15.69%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

Similar to EMLP and PIPE