The First Trust North American Energy Infrastructure Fund (NYSEArca: EMLP) is up 1.3% and like MLPX, hit a new all-time high earlier in Monday’s session. EMLP, which celebrates its second anniversary late this week, features Williams Cos. as its fifth-largest holding with a weight of 3.3%. Williams Partners and Access Midstream combine for about 0.75% of EMLP’s weight.

The actively managed EMLP was the first RIC-compliant MLP product that doesn’t dilute the tax benefits of holding individual MLPs. However, by limiting MLP holdings to 25%, the ETF includes other energy infrastructure firms with similar characteristics to MLPs. [MLP ETFs Address Tax Concerns]

Even with the cap on MLP exposure, EMLP has a distribution rate of 3.41% and has raked in almost $749 million in assets in just two years of trading, according to First Trust data.

First Trust North American Energy Infrastructure Fund

ETF Trends editorial team contributed to this post.