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ETFs

PYPE
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Today’s Change
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Snapshot
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Inception Date
Aug 20 2018
Expense Ratio
0.85%
Type
US MLPs
Fund Owner
UBS
Volume (1m avg. daily)
$3,980
AUM
$4,270,000
Associated Index
NYSE Pickens Core Midstream Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View
Invest with PYPE

What is PYPE?

The ETRACS NYSE Pickens Core Midstream Index ETN (NYSE: PYPE) is an exchange-traded note linked to the performance of the NYSE Pickens Core Midstream Index, less investor fees. PYPE has been approve for listing on the NYSE Arca exchange (subject to official notice of issuance). The NYSE Pickens Core Midstream Index measures the performance of the common stock of corporations and units of MLPs which are intended to represent U.S. midstream energy fundamentals, agnostic of entity structure. The Index is calculated by the Index Sponsor using a modified free-float market capitalization weighted methodology. The Index constituents are intended to reflect pure (core) midstream energy exposure, with the aim of getting as close as possible, using publicly traded instruments, to the underlying assets and operating results of the core midstream sector, and limiting the potential effect of financial engineering via General Partners and Incentive Distribution Rights.

ETFs related toPYPE

ETFs correlated to PYPE include MLPX, AMJ, AMZA

PYPE
UBS AG London Branch - ETRACS NYSE Pickens Core Midstream Index ETN
MLPX
Global X Funds - Global X MLP & Energy Infrastructure ETF
AMJ
JPMorgan Chase & Co. - KEYnotes ETN Link to First Trust Enh 130/30 L/C Index
AMZA
ETFis Series Trust I - InfraCap MLP ETF 1.25x Shares
TPYP
Managed Portfolio Series - Tortoise North American Pipeline Fund ETF
AMLP
ALPS Fund Services - Alerian MLP ETF
MLPA
Global X Funds - Global X MLP ETF
FXN
First Trust Exchange-Traded Fund III - First Trust Energy AlphaDEX Fund
IGE
BlackRock Institutional Trust Company N.A. - iShares North American Natural Resources ETF
FCG
First Trust Exchange-Traded Fund III - First Trust Natural Gas ETF
EMLP
First Trust Exchange-Traded Fund III - First Trust North American Energy Infrastructure Fund

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

PYPE is a US MLPs ETF. The ETRACS NYSE Pickens Core Midstream Index ETN (NYSE: PYPE) is an exchange-traded note linked to the performance of the NYSE Pickens Core Midstream Index, less investor fees. PYPE has been approve for listing on the NYSE Arca exchange (subject to official notice of issuance). The NYSE Pickens Core Midstream Index measures the performance of the common stock of corporations and units of MLPs which are intended to represent U.S. midstream energy fundamentals, agnostic of entity structure. The Index is calculated by the Index Sponsor using a modified free-float market capitalization weighted methodology. The Index constituents are intended to reflect pure (core) midstream energy exposure, with the aim of getting as close as possible, using publicly traded instruments, to the underlying assets and operating results of the core midstream sector, and limiting the potential effect of financial engineering via General Partners and Incentive Distribution Rights.

PYPE tracks the NYSE Pickens Core Midstream Index.

No, PYPE is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, PYPE is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PYPE is 0.0458%. This is the percent change in the value of PYPE over the most recent 1-month period. The 3-month return on PYPE is 0.0994%. This is the percent change in the value of PYPE over the most recent 3-month period.

The standard deviation of PYPE for the past year is 0.2411%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PYPE include PFXF, PSP, and PGF.

ETFs correlated to PYPE include MLPX, AMJ, and AMZA.

ETFs that are inversely correlated to PYPE include DRIP, DUG, and OILD.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.