Refiners are excluded as they are more representative of the downstream element of the energy value chain, not midstream. Refining logistics are included as they are more representative of midstream activities. Retail propane marketing is excluded due to that business activity being classified as a downstream activity. Lastly, compression is excluded due to that business activity being classified as an upstream.
Top Holdings
PYPE’s top holdings include Energy Transfer Partners (ETP) 8.8%, Kinder Morgan (KMI) 7.4%, Enterprise Products Partners (EPD) 7.3%, Magellan Midstream Partners (MMP) 7.0% and ONEOK (OKE) 7.0%.
Unlike exchange traded funds, ETNs are a type of are type of senior, unsecured debt securities provided by an underwriting bank. In this case, the ETNs are obligations of the UBS.
T. Boone Pickens has also lent his name to TriLine Index Solutions for the NYSE Pickens Oil Response ETF (NYSEArca: BOON), which tracks companies that are positively correlated with changes in the price of ICE Brent Crude Oil Futures.
For more information on new fund products, visit our new ETFs category.