First Trust New Opportunities MLP & Energy Fund

Frequently Asked Questions About FPL

What does FPL invest in?

The First Trust New Opportunities MLP & Energy Fund operates as a closed-end balanced mutual fund, jointly overseen by First Trust Advisors L.P. and Energy Income Partners LLC. This U.S.-domiciled fund, established on October 15, 2013, primarily allocates capital across American public equity and fixed-income markets. Its investment mandate focuses on enterprises within the energy and utilities sectors. Specifically, the portfolio predominantly consists of equity and debt instruments issued by Master Limited Partnerships (MLPs) and associated organizations, complemented by dividend-yielding growth stocks from other energy and utility corporations. The fund measures its performance against a composite of benchmarks, including the S&P 500 Index, the Alerian MLP Total Return Index, and the Wells Fargo Midstream MLP Total Return Index.

What is the expense ratio of FPL?

First Trust New Opportunities MLP & Energy Fund (FPL) charges an expense ratio of 0.00%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FPL?

First Trust New Opportunities MLP & Energy Fund (FPL) manages $182.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FPL actively managed or an index fund?

FPL is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FPL's is 0.00%) because there's no security selection cost.

When was FPL launched?

First Trust New Opportunities MLP & Energy Fund (FPL) launched in March 2014 and is managed by First Trust.

How has FPL performed?

FPL's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.