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Key Stats

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Expense Ratio Discount or Premium to NAV Total Assets Under Management 30-Day Average Daily Volume
3.59% -25.86% 245.69M 113148.1
Dividend Yield Turnover Ratio 1 Year Fund Level Flows Max Drawdown (All)
4.96% 29.00% 67882.79 Upgrade

Basic Info

Investment Strategy
The Funds investment objective is to provide long-term investors a high level of total return with an emphasis on cash distributions. Under normal market conditions, the Fund will invest at least 80% of its managed assets in energy midstream entities including entities structured as both partnerships and corporations. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.
General
Security Type Closed-End Fund
Equity Style Mid Cap/Value
Fixed Income Style --
Broad Asset Class Sector Equity
Broad Category Equity
Category Name Energy Limited Partnership
Category Index Morningstar MLP Composite TR USD
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Legg Mason
Broad Asset Class Benchmark Index
^MSWNTR 100.0%
Manager Tenure
Chris Eades 9.40 yrs
Michael Clarfeld 9.40 yrs
Peter Vanderlee 9.40 yrs
Richard Freeman 9.40 yrs

Net Fund Flows Versus Category

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
1 Month
% Rank: --
-- Category Low
-- Category High
1 Year
% Rank: 27
67882.79
-1.007B Category Low
233.58M Category High
3 Months
% Rank: --
-- Category Low
-- Category High
3 Years
% Rank: --
-- Category Low
-- Category High
6 Months
% Rank: --
-- Category Low
-- Category High
5 Years
% Rank: --
-- Category Low
-- Category High
YTD
% Rank: --
-- Category Low
-- Category High
10 Years
% Rank: --
-- Category Low
-- Category High
As of January 31, 2018

Performance Versus Category

 
20%
15%
10%
5%
0
View Category Returns. Upgrade now.
Name
1M
3M
6M
YTD
1Y
3Y
5Y
10Y
Total Return (Price)
--
--
--
--
--
--
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Total Return (NAV)
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Category Rtn. (NAV)
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As of November 30, 2020. Returns for periods of 1 year and above are annualized.

Annual Total Returns Versus Peers

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Name
2013
2014
2015
2016
2017
2018
2019
YTD
18.46%
7.93%
-41.84%
15.66%
0.01%
-25.77%
19.62%
-66.45%
26.68%
4.94%
-0.87%
7.51%
22.40%
-8.71%
27.67%
11.19%
12.49%
-26.01%
-92.70%
30.51%
-10.21%
-27.00%
23.53%
-86.24%
32.16%
-3.43%
-31.68%
20.85%
3.23%
-24.75%
1.94%
-71.68%
18.50%
8.37%
-32.63%
20.80%
0.73%
-22.86%
2.36%
-81.18%
25.15%
7.45%
-40.75%
13.17%
7.85%
-24.79%
19.97%
-67.64%
As of November 30, 2020.

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (12-1-20) 4.96%
30-Day SEC Yield --
7-Day SEC Yield (3-9-20) Upgrade
Number of Holdings Upgrade
Stock
Weighted Average PE Ratio 9.529
Weighted Average Price to Sales Ratio Upgrade
Weighted Average Price to Book Ratio Upgrade
Weighted Median ROE Upgrade
Weighted Median ROA Upgrade
Forecasted Dividend Yield Upgrade
Forecasted PE Ratio Upgrade
Forecasted Price to Sales Ratio Upgrade
Forecasted Price to Book Ratio Upgrade
As of September 30, 2020

Growth Estimates

Forecasted 5 Yr Earnings Growth Upgrade
Forecasted Book Value Growth Upgrade
Forecasted Cash Flow Growth Upgrade
Forecasted Earnings Growth Upgrade
Forecasted Revenue Growth Upgrade
As of September 30, 2020

Asset Allocation

As of September 30, 2020.
Type % Net % Long % Short
Cash 4.39% Upgrade Upgrade
Stock 95.61% Upgrade Upgrade
Bond 0.00% Upgrade Upgrade
Convertible 0.00% Upgrade Upgrade
Preferred 0.00% Upgrade Upgrade
Other 0.00% Upgrade Upgrade

Top 10 Holdings

Name % Weight Price % Change
MPLX LP Partnership Units 7.92% 21.27 1.09%
Enterprise Products Partners LP 7.27% 19.56 0.82%
Magellan Midstream Partners LP 5.88% 41.15 0.00%
Energy Transfer LP 4.86% 6.17 -0.16%
Williams Companies Inc 4.85% 20.90 -0.38%
Targa Resources Corp 4.41% 23.61 0.47%
JPMorgan 100% US Tr Sec MM Inst 4.40% 1.00 0.00%
Cheniere Energy Partners LP 4.35% 37.88 -0.58%
Western Midstream Partners LP 4.24% 13.08 1.40%
BP Midstream Partners LP 3.90% 11.21 -1.15%

Basic Info

Investment Strategy
The Funds investment objective is to provide long-term investors a high level of total return with an emphasis on cash distributions. Under normal market conditions, the Fund will invest at least 80% of its managed assets in energy midstream entities including entities structured as both partnerships and corporations. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.
General
Security Type Closed-End Fund
Equity Style Mid Cap/Value
Fixed Income Style --
Broad Asset Class Sector Equity
Broad Category Equity
Category Name Energy Limited Partnership
Category Index Morningstar MLP Composite TR USD
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Legg Mason
Broad Asset Class Benchmark Index
^MSWNTR 100.0%
Manager Tenure
Chris Eades 9.40 yrs
Michael Clarfeld 9.40 yrs
Peter Vanderlee 9.40 yrs
Richard Freeman 9.40 yrs

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (12-1-20) 4.96%
30-Day SEC Yield --
7-Day SEC Yield (3-9-20) Upgrade
Number of Holdings Upgrade
Stock
Weighted Average PE Ratio 9.529
Weighted Average Price to Sales Ratio Upgrade
Weighted Average Price to Book Ratio Upgrade
Weighted Median ROE Upgrade
Weighted Median ROA Upgrade
Forecasted Dividend Yield Upgrade
Forecasted PE Ratio Upgrade
Forecasted Price to Sales Ratio Upgrade
Forecasted Price to Book Ratio Upgrade
As of September 30, 2020

Growth Estimates

Forecasted 5 Yr Earnings Growth Upgrade
Forecasted Book Value Growth Upgrade
Forecasted Cash Flow Growth Upgrade
Forecasted Earnings Growth Upgrade
Forecasted Revenue Growth Upgrade
As of September 30, 2020

Fund Details

Key Dates
Inception Date 6/10/2011
Last Annual Report Date 11/30/2019
Last Prospectus Date 12/31/2013
Attributes
Enhanced Index Fund No
Index Fund No
Inverse Fund No
Leveraged Fund Yes
Fund of Funds No
Currency Hedged Fund No
Synthetic Replication Fund No
Has Dividend Investment Plan Yes
Socially Responsible Fund No