AMZA: MLPs' Quiet Outperformance Continues

InfraCap MLP ETF remains a "Buy," delivering 25% YTD returns and outperforming the S&P 500 by 17 percentage points. AMZA’s 8%+ yield, modest leverage, and concentrated midstream MLP exposure drive strong total return, though concentration and sector cyclicality are key risks. Valuation has risen to 13.2x P/E but remains reasonable given high yield and positive technical momentum, with a bullish cup-and-handle chart pattern. Seasonal weakness may loom, but a rising 200-day moving average and robust volume support suggest technical resilience through earnings season.

There’s a lot going on in the energy sector. While WTI and Brent crude oil are almost 20% off their recent lows and about 25% from 2026 peaks, refiner stocks are on fire. Elsewhere, major integrateds struggle to find their footing after a major January-February rally. Midstream