Which returned more over the last year, EMLP or FEX?

In the year to Oct 9, 2026, with distributions reinvested, EMLP returned +14.8% and FEX +17.6%.

Which is cheaper, EMLP or FEX?

FEX is cheaper, by 0.38 percentage points a year. On $10,000 held for a year that difference is about $38. Fees come from each fund's prospectus.

How much do EMLP and FEX overlap with the S&P 500?

By their latest filed holdings, 43% of EMLP and 86% of FEX by weight is stocks the S&P 500 already holds.

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EMLP vs FEX: how they differ

EMLP and FEX hold 7% of their weight in the same names, and FEX returned +17.6% over the year. First Trust North American Energy Infrastructure Fund and First Trust Large Cap Core AlphaDEX Fund.

FEX costs 0.38 points a year less; their one-year returns differ by 2.8 points; EMLP is 2.6 times larger.

	EMLP	FEX
Expense ratio	0.95%	0.57%
Net assets	$4.1bn	$1.6bn
Total return, 1 year	+14.8%	+17.6%
Holdings in common	7%
Nasdaq-100, total return, 1 year	+23.6%
Top ten holdings, share of the fund	42.7%	5.0%
Below its high	4.8%, high on Jul 23, 2026	4.1%, high on Aug 14, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+14.8%

EMLP total return, 1 year

+17.6%

FEX total return, 1 year

0.95%

EMLP expense ratio

0.57%

FEX expense ratio

What they hold in common

By the books each fund has filed, EMLP and FEX hold 7% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 9, 2026.

50%

half

7% in common

Positions both hold, largest shared weight first

Holding EMLP FEX

PG&E Corporation 0.50% 0.46%

Evergy, Inc. 1.66% 0.36%

ONEOK, Inc. 2.31% 0.36%

PPL Corporation 2.88% 0.36%

Xcel Energy Inc. 1.81% 0.36%

Ameren Corporation 1.02% 0.35%

Kinder Morgan, Inc. 3.88% 0.28%

Public Service Enterprise Group Incorporated 1.85% 0.28%

Alliant Energy Corporation 1.02% 0.27%

American Electric Power Company, Inc. 2.32% 0.27%

Atmos Energy Corporation 1.29% 0.27%

CMS Energy Corporation 2.06% 0.27%

Only in EMLP

Enterprise Products Partners L.P. 8.62%

Energy Transfer LP 7.58%

MPLX LP 4.26%

Plains GP Holdings, L.P. (Class A) 3.91%

National Fuel Gas Company 3.88%

Duke Energy Corporation 2.53%

Entergy Corporation 2.32%

ONE Gas, Inc. 2.22%

Only in FEX

PTC Inc. 0.60%

Everpure, Inc. (Class A) 0.51%

Hewlett Packard Enterprise Company 0.50%

HF Sinclair Corp. 0.49%

NetApp, Inc. 0.49%

Okta, Inc. 0.48%

Ovintiv Inc. 0.48%

Constellation Brands, Inc. (Class A) 0.47%

Check overlap with more funds →

On the same fields

EMLP

First Trust North American Energy Infrastructure Fund

FEX

First Trust Large Cap Core AlphaDEX Fund

Where it sits Stock ETF Stock ETF

Issuer First Trust First Trust

What it is Actively managed Tracks an index

Total return, 1 year +14.8% +17.6%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −2.5 pts +0.4 pts

Expense ratio 0.95% 0.57%

Already in the S&P 500 42.9% 85.6%

Holdings 58 375

Net assets $4.1bn $1.6bn

EMLP and FEX on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

EMLP in plain words

EMLP is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +14.8% with distributions reinvested, against +17.3% for the S&P 500 and +23.6% for the Nasdaq-100. The prospectus expense ratio is 0.95% a year. By its holdings published by its issuer for Oct 9, 2026, 43% of the fund by weight is stocks the S&P 500 also holds, across 58 positions, with the top ten at 42.7%. It sat 4.8% below its high of Jul 23, 2026 on Oct 9, 2026.

FEX in plain words

FEX tracks an index. Over the year to Oct 9, 2026 it returned +17.6% with distributions reinvested, against +17.3% for the S&P 500 and +23.6% for the Nasdaq-100. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 9, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 375 positions, with the top ten at 5.0%. It sat 4.1% below its high of Aug 14, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, EMLP or FEX?: In the year to Oct 9, 2026, with distributions reinvested, EMLP returned +14.8% and FEX +17.6%.
Which is cheaper, EMLP or FEX?: FEX is cheaper, by 0.38 percentage points a year. On $10,000 held for a year that difference is about $38. Fees come from each fund's prospectus.
How much do EMLP and FEX overlap with the S&P 500?: By their latest filed holdings, 43% of EMLP and 86% of FEX by weight is stocks the S&P 500 already holds.

Other comparisons

EMLP vs IMCV EMLP vs FXO EMLP vs FTXR EMLP vs RPV FEX vs WTV FEX vs MDYV FEX vs FVD FEX vs PKW

EMLP on its own →FEX on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

EMLP filings on SEC EDGAR ↗EMLP prospectus with the expense ratio (SEC) ↗First Trust page for EMLP ↗FEX filings on SEC EDGAR ↗FEX prospectus with the expense ratio (SEC) ↗First Trust page for FEX ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Cite this page

ETFIQ, EMLP against FEX, data as of Oct 9, 2026. https://etfiq.com/compare/any/emlp-vs-fex

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.