Share-split context: A reverse split was recorded on Apr 28, 2020 with coefficient 0.333333. 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.

What this ETF is trying to do

The GLOBAL X MLP & ENERGY INFRASTRUCTURE ETF (MLPX) focuses on companies involved in energy infrastructure. This includes the systems used to move and store energy.

What the numbers show

As of October 7, 2026, the current price of one share is $71.50.

When looking at how this ETF has performed, it is important to look at two different numbers: price return (how much the share price changed) and total return (which includes both price changes and cash distributions).

• Year-to-Date (YTD): The price return is approximately 18.12%, while the total return is approximately 21.90%.

• One-Year: The price return is approximately 15.47%, while the total return is approximately 20.81%.

• Three-Year: The price return is approximately 72.00%, while the total return is approximately 98.90%.

This ETF has a history of a reverse split, which happened on April 28, 2020. In a reverse split, multiple old shares are combined into fewer new shares. This causes the price per share to rise mechanically. However, this mechanical increase does not change the actual value of your investment at the moment it happens. Because of this history, an estimated price from one year ago is not provided; instead, we use the percentage returns listed above.

Income and distribution explanation

This ETF provides cash distributions to investors. The distribution yield is approximately 4.29%. This number describes the cash paid out relative to the current share price. Over the last year, the trailing distributions were $3.07 per share. These payments usually happen on a quarterly basis.

It is important to remember that a high distribution yield is not the same as total return. Total return is a more complete picture of how much an investment has grown or shrunk.

NAV erosion explanation

"NAV erosion" refers to a decline in the value of the underlying assets held by the ETF. For MLPX, the erosion-risk score is 100, and the label states "No price erosion detected." The severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• Strong Returns: The ETF has shown significant total returns over the last one, three, and five years (the five-year total return is approximately 148.14%).

• Regular Income: It offers a distribution yield of approximately 4.29%.

• Low Erosion Risk: Data shows no detected price erosion.

Cons

• Split History: The ETF has undergone a reverse split in the past.

Top Holdings

The following are some of the top holdings in this portfolio (note that this is a partial list):

• Williams Companies Inc: 9.05%

• TC Energy Corp: 8.95%

• Enbridge Inc: 8.90%

• Targa Resources Corp: 7.88%

• Kinder Morgan Inc Class P: 7.08%

*Holdings can change over time.*

Beginner takeaway

When looking at MLPX, remember that the share price and the total return are different. While the share price shows how much the cost of one share has moved, the total return includes the cash distributions you receive. Always look at both to understand the full picture of an ETF's performance.