First Trust MLP and Energy Income Fund (FEI)
  • 2019 Estimated Capital Gain Distributions
    Certain First Trust Closed-End Funds are expected to pay a long-term capital gain distribution in December. For a list of closed-end funds expected to pay a long-term capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - First Trust MLP and Energy Income Fund (the "Fund") in a non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders. Under normal market conditions, the Fund invests at least 85% of its managed assets in equity and debt securities of publicly traded MLPs, MLP-related entities and other energy sector and energy utility companies that the Fund's Sub-Advisor believes offer opportunities for growth and income.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Fund Overview
Fund TypeEnergy
Fund AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorEnergy Income Partners, LLC
Investor Servicing AgentBNY Mellon Investment Servicing (US) Inc.
Fiscal Year-End10/31
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 12/9/2019)
Closing NAV1$11.47
Closing Market Price2$11.17
Discount to Net Asset Value (NAV)2.62%
Total Managed Assets$737,469,903
Common Shares Outstanding47,007,240
Dividend FrequencyMonthly
Dividend Per Share Amt3$0.1000
Distribution Rate410.74%
Daily Volume294,000
Average 30-Day Daily Volume289,407
Closing Market Price 52-Week High/Low$12.26 / $9.21
Closing NAV 52-Week High/Low$12.89 / $10.25
Expense Ratios (as of 4/30/2019)
Annual ExpensesPercent of
Net Assets
Percent of
Management Fees1.36%1.00%
Other Expenses
Total Operating Expenses1.51%1.11%
Leverage Costs1.22%0.90%
Current Inc Tax Expenses1.11%0.82%
Deferred Inc Tax Expenses4.21%-3.10%
Total Annual Expenses8.05%-0.27%
Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Top 10 Holdings (as of 10/31/2019)6
Holding Percent
Enterprise Products Partners, L.P. 12.54%
Magellan Midstream Partners, L.P. 8.94%
TC Energy Corp. 8.39%
Kinder Morgan, Inc. 7.49%
TC Pipelines, L.P. 7.32%
Enbridge, Inc. 5.08%
Energy Transfer, L.P. 4.83%
Plains All American Pipeline, L.P. 4.80%
ONEOK, Inc. 4.74%
Williams (The) Cos., Inc. 3.68%
Market Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Leverage Information (as of 12/9/2019)5
Total Net Assets with Leverage$737,469,903
Amount Attributable to Common Shares$538,969,903
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$198,500,000
Leverage (% of Total Net Assets)26.92%
Industry Breakdown (as of 10/31/2019)6
  Industry Percent
Natural Gas Transmission 34.50%
Petroleum Product Transmission 29.88%
Crude Oil Transmission 17.75%
Electric Power & Transmission 14.26%
Coal 1.67%
Other 1.23%
Propane 0.71%
Performance (as of 11/30/2019)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) -4.04% 14.95% 3.89% 0.00% -4.32% N/A 1.28%
Market Price 2.20% 26.32% 13.35% -4.10% -2.74% N/A 0.34%

*Total return is the combination of reinvested dividend, capital gain, and return of capital distributions, if any, at prices obtained by the Dividend Reinvestment Plan, and changes in the NAV and Market Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Past performance is not indicative of future results.

1 The fund's NAV is calculated by dividing the value of all the fund's assets, less all liabilities, by the total number of common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their market price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
4 Distribution rates are calculated by annualizing the most recent distribution paid or declared through today's date and then dividing by the most recent market price. The distribution consists of the sum of net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Distribution rates may vary. Any distribution adjustment will not be reflected until after the declaration date for the next distribution. See the fund's 19a-1 Notices, if any, located under the "News & Literature" section of the website for estimates of distribution sources. Final determination of the source and tax status of all distributions paid in the current year will be made after year-end.
5 Leverage is a technique where a closed-end fund's manager borrows assets at one rate and invests the proceeds from the borrowed assets at another rate, seeking to increase yield and total return. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
6 Market value information used in calculating the percentages is based upon trade date plus one recording of transactions, which can differ from regulatory financial reports (Forms N-CSR and N-PORT Part F) that are based on trade date recording of security transactions. Holdings are subject to change.
7 Inception Date is 11/27/2012

Risk Considerations

The fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company. Investment return and market value of an investment in the fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Because the fund is concentrated in securities issued by MLPs, MLP-related entities, and other energy and utilities companies, it will be more susceptible to adverse economic or regulatory occurrences affecting those industries, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors.

The fund invests in securities of non-U.S. issuers which are subject to higher volatility than securities of U.S. issuers. Because the fund invests in non-U.S. securities, you may lose money if the local currency of a non-U.S. market depreciates against the U.S. dollar.

Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.

The risks of investing in the fund are spelled out in the prospectus, shareholder report and other regulatory filings.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value