Alternatively, investors who want to stick with ETFs but are wary of the C-corporation structure can consider hybrid MLP ETFs, or non-C-corporation MLP ETFs, which have reduced direct MLP holdings to under 25% to meet regulatory rules and hold other energy infrastructure stock through subsidiaries as a way to avoid the double-taxation issue. For example, the Tortoise North American Pipeline Fund (NYSEArca: TPYP) is one such hybrid option.

Related: Downtrodden MLP ETFs May Offer Long-Term Opportunity

Specifically, TPYP includes a 20% tilt toward MLPs, 38% MLP affiliates or owners and 42% other pipelines. Sub-sector weights include natural gas pipelines 48%, crude oil pipelines 20%, local gas distribution companies 18%, gather & processing 10% and refined product pipelines 4%.

The pipeline fund also comes with an attractive 4.36% SEC yield.

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

Financial advisors who are interested in learning more about the energy infrastructure sector can register for the Tuesday, May 17 webcast here.