If interest rates are rising due to an acceleration in economic activity, the demand for energy could also rise, and that could boost revenues,” according to Bob Carey, Chief Market Strategist at First Trust. “The opposite scenario could apply as well.

Since 2000, yields on benchmark 10-year Treasuries finished higher in five calendar years. Meanwhile, the Alerian MLP Index posted positive returns in each of those five years – 2003, 2005, 2006, 2009 and 2013.

With the U.S. moving towards energy independence, investors may want to consider having exposure to both the distribution and production sides of the energy sector, in our opinion,” Carey added.

ETF investors can browse through plenty of other MLP and oil infrastructure-related ETF options on the market. Year-to-date, the First Trust North American Energy Infrastructure Fund (NYSEArca: EMLP) increased 11.8%, Yorkville High Income MLP ETF (NYSEArca: YMLP) rose 4.6% and Global X MLP & Energy Infrastructure ETF (NYSEArca: MLPX) gained 17.7%. [A Rapid Ascent for This MLP ETF]

For more information on master limited partnerships, visit our MLPs category.

Max Chen contributed to this article.