What is the largest MLP ETF?

The Largest MLP ETF: A Closer Look at AMLP and the MLP Landscape

When it comes to investing in Master Limited Partnerships (MLPs), one name stands out: the Alerian MLP ETF (AMLP). With a commanding $12.39 billion in assets, AMLP is the largest ETF in the MLP space. Designed to track the performance of energy infrastructure MLPs, it primarily holds interests in midstream energy companies—those responsible for transporting, storing, and processing oil, natural gas, and other energy commodities.

What makes AMLP particularly appealing to income-focused investors is its historically high dividend yield. MLPs are structured to pass through income to investors, and AMLP has long been a go-to for those seeking yield in their portfolios. However, it's worth noting that while AMLP leads in size, it hasn't always led in performance. In the past trailing year, the AMNA ETF took the spotlight with an impressive return of 50.90%, significantly outpacing its peers. This highlights that while size offers stability, it doesn't always translate to top-tier returns.

The MLP ETF space continues to evolve. The most recent addition is the Tortoise MLP ETF (TMLP), launched on December 23, 2025. Tortoise brings its well-regarded expertise in energy infrastructure to this new fund, signaling continued investor interest in the sector despite shifting energy markets.

As energy infrastructure remains a critical component of the U.S. economy, MLP ETFs like AMLP, AMNA, and the newly launched TMLP offer investors exposure to a unique blend of yield and sector-specific growth. While AMLP holds the crown in assets, performance leaders like AMNA remind us that diversity and timing still matter in the hunt for returns.