Over the past 90 days, 20 (or 80 percent) of the 25 worst performing exchange-traded products are ETFs or exchange-traded notes (ETNs) related to oil and natural gas. And of those 20 offenders, including the worst performer, nine of those products are dedicated master limited partnership ETFs or ETNs.
The theory that MLPs are not intimately correlated to oil prices has been dealt a severe blow. Of the 25 worst performing non-leveraged ETFs and ETNs over the past 12 months, 11 are MLP funds. Things have gotten so bad for the space that one issuer said last month that it will shutter two leveraged MLP ETNs, one with over $100 million in assets under management.
/www.benzinga.com/trading-ideas/long-ideas/16/02/6246308/someones-gobbling-up-mlp-etfs alt=Someone's Gobbling Up MLP ETFs>Full story available on Benzinga.com
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