# Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPP) **Page:** https://fundology.uk/fund/mlpp · ISIN IE00B8CJW150 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, MLPP (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF, ISIN IE00B8CJW150) closed at £40.57 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 13/11/2026 its total return was +116.9%, or +69.3% after UK CPIH inflation. ## Summary Invesco Morningstar US Energy Infrastructure MLP UCITS ETF is an exchange-traded fund (ETF) from Invesco, launched in 2013. It tracks the Morningstar MLP Composite Index - USD. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.5% a year — about £50 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. Latest close: **£40.57** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | MLPP | | ISIN | IE00B8CJW150 | | Also listed as | MLPD (London Stock Exchange, US dollars), SMLD (Xetra, euros) | | Category | Property & infrastructure | | Type | ETF | | Provider | Invesco | | Tracks | Morningstar MLP Composite Index - USD | | Income | Distributing | | Ongoing charge | 0.50% a year (£50 per £10,000) | | Fund size | £246m | | Launched | 2013 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 15/05/2013 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +12.50% | +8.52% | income reinvested | | 3 years | +38.64% | +25.26% | income reinvested | | 5 years | +116.91% | +69.31% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF in pounds (price only, income paid out not included): 2022 +36.1%, 2023 +3.5%, 2024 +18.0%, 2025 −14.4%; 2026 to 13/11/2026 +12.2%. Returns of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +11.3%; to 30/09/2025: +0.3%; to 30/09/2024: −1.0%; to 30/09/2023: +3.3%; to 30/09/2022: +35.9%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +36.1% | +24.6% | Price | | 2023 | +3.5% | -0.6% | Price | | 2024 | +18.0% | +14.0% | Price | | 2025 | -14.4% | -17.3% | Price | | 2026 to 13/11/2026 | +12.2% | +8.6% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 19.60% | -12.01% | | 3 years | 18.59% | -21.83% | | 5 years | 20.81% | -21.83% | ## Largest fall Volatility of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 19.6% over 1 year, 18.6% over 3 years, 20.8% over 5 years. Largest fall in the price of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF since November 2021, in pounds: −21.8% from 17/01/2025 to 17/10/2025. The lowest 12-month return of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −16.1% (12 months to 30/01/2026); the highest was +49.2% (12 months to 16/09/2022). On 13/11/2026 the price of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF was 10.8% below its highest weekly close since November 2021 (17/01/2025), in pounds. ## Charges compared with similar funds Ongoing charge of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF 0.50% a year. Compared on 14/11/2026, 14 of the 45 other property and infrastructure funds charge more, 2 the same and 29 less (share classes counted once). ## Funds tracking the same index 2 funds track Morningstar MLP Composite Index - USD, this one included and share classes counted once; their ongoing charges range from 0.50% to 0.50% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (this fund) | 0.50% | +12.5% | +38.6% | +116.9% | | Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Acc | 0.50% | +12.5% | +38.6% | +116.8% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.50%** per year (as of 16/10/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds As of 12/11/2026, MLPP holds 14 positions, according to its published holdings. The largest is Enterprise Products Partners L.P at 10.71% of the fund; the ten largest make up 82.0%. ### Top holdings Largest positions (as of 12/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Enterprise Products Partners L.P | [EPD](https://fundology.uk/stock/EPD) | 10.71% | | 2 | Mplx LP | [MPLX](https://fundology.uk/stock/MPLX) | 10.57% | | 3 | Plains All American Pipeline, L.P | [PAA](https://fundology.uk/stock/PAA) | 10.54% | | 4 | Energy Transfer LP | [ET](https://fundology.uk/stock/ET) | 10.07% | | 5 | Sunoco LP | [SUN](https://fundology.uk/stock/SUN) | 9.58% | | 6 | Western Midstream Partners, LP | [WES](https://fundology.uk/stock/NYSE:WES) | 9.40% | | 7 | Delek Logistics Partners, L.P | [DKL](https://fundology.uk/stock/DKL) | 5.37% | | 8 | Black Stone Minerals, L.P | [BSM](https://fundology.uk/stock/BSM) | 5.35% | | 9 | Alliance Resource Partners, L.P | [ARLP](https://fundology.uk/stock/ARLP) | 5.32% | | 10 | USA Compression Partners, LP | [USAC](https://fundology.uk/stock/USAC) | 5.09% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 12/11/2026. | Sector | Weight | |---|---| | Energy | 96.0% | | Industrials | 4.0% | All 14 holdings: https://fundology.uk/fund/mlpp/holdings ## Questions people ask **What is the ongoing charge of MLPP?** The ongoing charge of MLPP is 0.50% a year — about £50 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Invesco Morningstar US Energy Infrastructure MLP UCITS ETF 0.50% a year. Compared on 14/11/2026, 14 of the 45 other property and infrastructure funds charge more, 2 the same and 29 less (share classes counted once). **What does MLPP track?** MLPP tracks the Morningstar MLP Composite Index - USD. **Is MLPP accumulating or distributing?** MLPP is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly. **What is the ISIN of MLPP?** The ISIN of MLPP is IE00B8CJW150. An ISIN identifies one exact share class of a fund; MLPP is its ticker on the London Stock Exchange. The same share class is also listed as MLPD (London Stock Exchange, US dollars) and SMLD (Xetra, euros). **What does MLPP hold?** As of 12/11/2026, MLPP holds 14 positions, according to its published holdings. The largest is Enterprise Products Partners L.P at 10.71% of the fund; the ten largest make up 82.0%. Its ten largest holdings are Enterprise Products Partners L.P (10.71%), Mplx LP (10.57%), Plains All American Pipeline, L.P (10.54%), Energy Transfer LP (10.07%), Sunoco LP (9.58%), Western Midstream Partners, LP (9.40%), Delek Logistics Partners, L.P (5.37%), Black Stone Minerals, L.P (5.35%), Alliance Resource Partners, L.P (5.32%) and USA Compression Partners, LP (5.09%). **What were MLPP’s returns in each of the last five years?** Calendar-year returns of MLPP in pounds (price only, income paid out not included): 2022 +36.1%, 2023 +3.5%, 2024 +18.0%, 2025 −14.4%; 2026 to 13/11/2026 +12.2%. Past performance is not a guide to future returns. **How has MLPP done after inflation?** Over the five years to 13/11/2026 MLPP’s total return was +116.9%, or +69.3% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.