Share-split context: A reverse split was recorded on Apr 28, 2020 with coefficient 0.166667. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

ETF Education Report: GLOBAL X MLP ETF (MLPA)

What this ETF is trying to do

The GLOBAL X MLP ETF (ticker: MLPA) is an exchange-traded fund that focuses on different companies. Based on its top holdings, it invests in various energy and midstream partnerships. These are companies involved in moving or storing energy products.

What the numbers show

When looking at how an ETF performs, it is important to look at two different types of returns: price return and total return.

• Price Return: This measures only the change in the share price. For MLPA, the year-to-date (YTD) price return is approximately 11.09%. Over the last year, the price return was about 12.25%.

• Total Return: This is a more complete picture because it includes both the price change and the money paid out to investors (distributions). For MLPA, the YTD total return is approximately 17.52%, and the one-year total return is about 21.18%.

This ETF has a history of a reverse split. In April 2020, multiple old shares were combined into fewer new shares. This caused the quoted per-share price to rise mechanically, but it did not change the actual value of the investment at that moment.

Income and distribution explanation

Some investors look for ETFs that pay regular cash, known as distributions. MLPA has a distribution yield of approximately 7.47%. This means the cash distributions are high relative to the current share price of $53.78.

The ETF usually pays these distributions quarterly, and it has paid out four times in the last 12 months. It is important to remember that a high distribution yield is not the same as total return. While distributions provide cash, they do not guarantee that your original investment will stay the same value.

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of an ETF's underlying assets decreases significantly over time. StockValueFinder uses an erosion-risk score to help track this. For MLPA, the erosion score is 100, and the label shows "No price erosion detected." There is no severe erosion-risk flag for this ETF.

Top Holdings

The following are the largest companies held by this ETF (as of October 8, 2026):

• ENERGY TRANSFER LP: 13.97%

• ENTERPRISE PRODUCTS PARTNERS LP: 12.17%

• MPLX LP PARTNERSHIP UNITS: 11.56%

• PLAINS ALL AMERICAN PIPELINE LP: 10.68%

• WESTERN MIDSTREAM PARTNERS LP: 9.40%

• SUNOCO LP: 8.66%

• HESS MIDSTREAM LP CLASS A: 8.31%

• CHENIERE ENERGY PARTNERS LP: 6.58%

• USA COMPRESSION PARTNERS LP: 5.28%

• GENESIS ENERGY LP: 4.03%

Pros

• The ETF has shown positive total returns over the last year and three years.

• It provides a relatively high distribution yield for those seeking cash income.

Cons

• The ETF has a history of reverse splits, which changes the share structure.

Beginner takeaway

When looking at MLPA, it is helpful to distinguish between the share price movement and the total return. While the share price grows, the distributions add extra value to the total return. Always remember that high yields are just one part of how an ETF performs.