At a glance
EIPX charges 0.95% a year, above the 0.81% average of the 4 funds most like it (the 4th cheapest of 5). It has $563.5M in assets, the 2nd largest of that group; it paid 2.66% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +32.4% with distributions reinvested (S&P 500: +11.5%), 3rd of those 5 funds; over three years it returned +21.5% a year. Its ten largest positions make up 36.6% of the fund, out of 85 in all.
The short version
FT Energy Income Partners Strategy ETF (EIPX) is an actively managed First Trust fund. Its sub-advisor, Energy Income Partners, picks energy, pipeline and utility stocks, including master limited partnerships (MLPs). As of July 31, 2026, its largest holdings were the pipeline operators Enterprise Products Partners and Energy Transfer. It charges 0.95% a year, above the 0.81% average of similar funds. Its quarterly dividend yielded 2.66% as of October 27, 2026.
Price history
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EIPX +32.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EIPX official prospectus, to Dec 31, 2025 | — | +11.45% | — | — | — | +13.42% |
| EIPX price data to Oct 27, 2026 | +30.8% | +32.4% | +21.5% | — | — | +18.0% |
- Over the year to Oct 27, 2026, EIPX returned +32.4%, 3rd of 5 among similar funds.
- Its worst full calendar year was 2023 (+10.7%); its best was 2024 (+19.2%).
- The deepest fall in its price history was 15.4% (Jan 21, 2025 to Apr 8, 2025), recovered by Aug 28, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +30.8% | — |
| 2025 | +11.4% | +11.45% |
| 2024 | +19.2% | +19.25% |
| 2023 | +10.7% | +10.63% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7000 | |
| 2025 | $0.8500 | +4.9% |
| 2024 | $0.8100 | +9.5% |
| 2023 | $0.7400 |
What's inside
As of Jul 31, 2026, the fund held 85 securities; the ten largest made up 36.6% of assets, and 6.01% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| ENTERPRISE PRODUCTS PARTNERS LP | 7.15% | |
| ENERGY TRANSFER LP | 6.95% | |
| MPLX LP | 3.93% | |
| NATIONAL FUEL GAS COMPANY | 3.44% | |
| EXXONMOBIL HOLDINGS CORP | 3.24% | |
| PLAINS GP HOLDINGS LP | 2.81% | |
| KINDER MORGAN INC | 2.56% | |
| ONEOK INC | 2.51% | |
| SHELL PLC | 2.26% | |
| ALLIANCE RESOURCE PARTNERS LP | 1.77% | |
| PHILLIPS 66 | 1.77% | |
| BAKER HUGHES COMPANY | 1.65% | |
| SOUTHERN COMPANY (THE) | 1.62% | |
| SEMPRA | 1.60% | |
| RANGE RESOURCES CORP | 1.58% |
By country
United States 81.11%United Kingdom 3.8%Canada 3.59%Curaçao 1.29%Marshall Islands 1.29%By asset type
Stocks 93.74%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $35.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.93%, -0.12%, +4.19%.
How it works
EIPX does not track an index. First Trust has hired Energy Income Partners, LLC as sub-advisor to choose the stocks. In normal markets, at least 80% of net assets go into what the prospectus calls "Energy Companies." The definition is broad. It covers the energy sector, utilities other than water utilities, and firms in other sectors that earn at least half their revenue or profit from things like oil, natural gas, coal, uranium, hydrogen, renewables, energy storage or power transmission. Holdings can be US or foreign companies of any size.
The manager looks at three things. The first is yield: steady businesses that pay out a large share of their cash, or cyclical businesses with smaller payouts they can sustain. The second is growth in earnings and cash flow per share. The third is valuation: companies whose value could rise after a restructuring, a change in management or a shift in government policy. The prospectus sets no fixed rebalancing schedule. Portfolio turnover, the share of holdings replaced in a year, was 38%.
The fund may own MLPs, which are partnerships that trade like stocks and are common among pipeline companies. It limits them to meet the tax diversification rules for funds. It is "non-diversified," so it can put more money into fewer companies. As of July 31, 2026, it held 85 companies. The top 10 made up 36.6% of the fund, cash was about 6%, and it held no derivatives.
What it really costs
- EIPX charges 0.95% a year, versus an average of 0.81% for the similar funds below (4th of 5, cheapest first).
In a retirement portfolio
It is a concentrated, non-diversified fund focused on one part of the economy, so it fits better as a smaller position next to broad holdings.
EIPX could add quarterly income and a focused stake in pipelines, utilities and oil companies. Its trailing yield was 2.66% ($0.90 a share) as of October 27, 2026, and it costs 0.95% a year. The track record is short. The fund launched in November 2022, so it has no history through the 2008, 2020 or 2022 sell-offs. Every full calendar year so far has been positive. The weakest was 2023, at about 10.6%. Its deepest drop was 15.4%, from January 21 to April 8, 2025, and it took about 4.7 months to recover. A retiree who sold shares near that low to cover spending would have locked in the loss. Energy prices and policy changes can hit the whole sector at once. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want an actively picked mix of pipelines, MLPs, utilities and oil majors such as Enterprise Products Partners, Energy Transfer and ExxonMobil.
- Income seekers comfortable with a quarterly payout that yielded 2.66% as of October 27, 2026, plus the chance of price gains.
- Investors who prefer a manager's judgment on yield, growth and valuation over an index's fixed rules for picking energy stocks.
Look elsewhere if
- Cost-focused investors: its 0.95% fee ranks 4th of 5 among similar funds, and VanEck Energy Income ETF (EINC) charges 0.47%.
- Anyone who wants a long track record: the fund launched in November 2022 and has not been through a major market crash.
- Investors who need high income now: the 2.66% yield is modest, and energy companies can cut dividends when commodity prices fall.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EIPX this fund | — | 0.95% | $563.5M | +32.4% | +21.5% |
| EIPI FT Energy Income Partners Enhanced Income E… | 73% | 1.11% | $1.11B | +24.2% | — |
| UMI USCF Midstream Energy Income Fund ETF | 30% | 0.85% | $485.2M | +32.9% | +26.7% |
| MDST Westwood Salient Enhanced Midstream Income … | 29% | 0.8% | $287.2M | +25.7% | — |
| EINC VanEck Energy Income ETF | 26% | 0.47% | $108.7M | +34.8% | +28.4% |
Questions investors ask
Does EIPX pay monthly dividends?
No. EIPX pays distributions quarterly. In the 12 months to October 27, 2026, it paid about $0.90 per share, a trailing yield of 2.66%. The payout comes from dividends paid by the companies the fund holds. The prospectus warns that those companies don't have to keep paying dividends and could cut or stop them. Energy profits rise and fall with commodity prices, so the income may change from year to year.
What's the difference between EIPX and EIPI?
The main differences are cost, size and approach. Both are First Trust funds, and their holdings overlap by about 73% based on the latest N-PORT reports. EIPI, the FT Energy Income Partners Enhanced Income ETF, charges 1.11% a year compared with 0.95% for EIPX. EIPI is also larger, with about $1.1 billion in net assets as of August 31, 2026. In the year to October 27, 2026, EIPX returned 32.4% and EIPI returned 24.2%. EIPI's "enhanced income" approach is explained in its own prospectus.
What does EIPX invest in?
EIPX invests mainly in energy-related stocks chosen by Energy Income Partners. As of July 31, 2026, it held 85 companies. The largest were Enterprise Products Partners (7.1%), Energy Transfer (6.9%), MPLX (3.9%), National Fuel Gas (3.4%) and ExxonMobil (3.2%). Pipeline companies and MLPs make up most of the top of the list, with utilities such as Southern Company and Sempra further down. About 81% of the fund was in US companies, and roughly 6% was in cash.
Is EIPX expensive compared with other energy income ETFs?
It costs more than most of its peers. EIPX's expense ratio, the yearly fee taken as a share of your investment, is 0.95%, according to its prospectus filed February 27, 2026. The average for four similar funds is 0.81%, and EIPX ranks 4th of 5 on cost. VanEck Energy Income ETF (EINC) charges 0.47% and USCF Midstream Energy Income Fund ETF (UMI) charges 0.85%. FT Energy Income Partners Enhanced Income ETF (EIPI) charges more, at 1.11%.
How has EIPX performed since launch?
It has had positive returns in every full calendar year since its November 2022 launch. Its prospectus reports returns of 10.63% in 2023, 19.25% in 2024 and 11.45% in 2025. That works out to an average of 13.42% a year from launch through December 31, 2025. Based on price, it gained 30.8% year to date through October 27, 2026. Its deepest drop was 15.4%, between January and April 2025, and it recovered by late August 2025.