- CEO
- J. Garrett Stevens
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 15601 Dallas Parkway, Suite 510 Addison TX United States of America 75001
- IPO Date
- Dec 18, 2025
- Business
- UBS ETRACS Alerian MLP Infrastructure Index ETN (MLPI) is an exchange-traded note issued by UBS AG that provides investors with exposure to the performance of the Alerian MLP Infrastructure Index (AMZI), a float-adjusted, capitalization-weighted composite of energy infrastructure master limited partnerships (MLPs) engaged primarily in the transportation, storage, and processing of energy commodities such as crude oil, natural gas, and refined products; the ETN may also pay a variable quarterly coupon linked to the cash distributions of the underlying MLPs, net of investor fees. The product tracks the index across all market capitalizations without leverage, offering a senior unsecured debt obligation listed on NYSE Arca with a maturity date of April 2, 2040. Targeted at investors seeking income-oriented exposure to the U.S. energy midstream sector, MLPI serves institutional and retail customers focused on energy infrastructure without the tax complexities of direct MLP ownership, such as Schedule K-1 forms.
Founded on March 31, 2010, and domiciled in Switzerland with issuer headquarters in Zurich, UBS ETRACS MLPI operates globally through UBS's network spanning the Americas, Europe, the Middle East, Africa, and Asia Pacific. The underlying AMZI index is maintained by VettaFi (formerly Alerian), which periodically reviews and adjusts constituents, including recent December quarterly rebalances adding names like CrossAmerica Partners LP and Global Partners LP to related Alerian MLP indices while removing others such as NGL Energy Partners LP. As part of UBS's broader ETRACS platform, MLPI benefits from the issuer's structured product expertise in commodity and equity-linked notes.
In recent developments within the last two years, UBS has continued active management of its ETRACS suite, including voluntary exchange offers for legacy Series A ETNs into extended Series B versions—such as the related Alerian MLP Infrastructure Index ETN Series B (MLPB)—to extend maturities and enhance liquidity, with announcements in 2020 through 2023 and ongoing monitoring into 2025; no specific maturity extension for MLPI itself has been noted, but these initiatives reflect strategic efforts to adapt to investor demand amid evolving MLP market dynamics. The energy midstream sector underlying MLPI has seen robust performance, with the AMZI delivering 31.92% over three years as of late 2025, driven by strong cash flows and buybacks from constituent MLPs. No major acquisitions, partnerships, or new product launches specific to MLPI were reported in 2024-2025, though UBS maintains comprehensive prospectuses and real-time dissemination of index data via its ETRACS platform.