# Invesco SteelPath MLP Alpha A (MLPAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/mlpax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Equity - Strategy: Thematic · Inception: 2010-04-05 This investment vehicle commits at least 80% of its total net assets—including any funds acquired through borrowing for investment—to Master Limited Partnerships (MLPs). These MLPs are issued by entities whose core business functions involve the handling, storage, transformation, purification, sale, discovery, extraction, and excavation of minerals and natural resources. Furthermore, the fund allocates capital to derivatives and other financial instruments that mirror the economic attributes of such MLP investments. It is important to note that this fund maintains a non-diversified portfolio. ## Key Facts | Metric | Value | |---|---| | Price | $9.69 | | Expense Ratio | 1.54% | | Assets Under Management | $1.14B | | NAV | $9.69 | | Holdings Count | — | | Distribution Yield (TTM) | 5.37% | | Annual Distribution (TTM) | $0.52 /share | | Distribution Frequency | Monthly | | 52-Week Range | $8.06 – $10.32 | | Beta | 0.25 | ## Latest Distribution - Amount: $0.0451 /share - Ex-date: 2026-10-05 - Pay date: 2026-10-05 ## Frequently Asked Questions ### What does MLPAX invest in? This investment vehicle commits at least 80% of its total net assets—including any funds acquired through borrowing for investment—to Master Limited Partnerships (MLPs). These MLPs are issued by entities whose core business functions involve the handling, storage, transformation, purification, sale, discovery, extraction, and excavation of minerals and natural resources. Furthermore, the fund allocates capital to derivatives and other financial instruments that mirror the economic attributes of such MLP investments. It is important to note that this fund maintains a non-diversified portfolio. ### What is the expense ratio of MLPAX? Invesco SteelPath MLP Alpha A (MLPAX) charges an expense ratio of 1.54%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is MLPAX? Invesco SteelPath MLP Alpha A (MLPAX) manages $1.14B 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 MLPAX actively managed or an index fund? MLPAX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was MLPAX launched? Invesco SteelPath MLP Alpha A (MLPAX) launched in April 2010 and is managed by Invesco. ### How has MLPAX performed? MLPAX'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. ### Does MLPAX pay a dividend? Invesco SteelPath MLP Alpha A (MLPAX) currently distributes little or no income. Trailing-twelve-month yield is 5.37%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does MLPAX pay dividends? Invesco SteelPath MLP Alpha A pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is MLPAX's dividend yield? MLPAX's trailing-twelve-month yield is 5.37%, calculated from the sum of dividends over the past year divided by the current price. ### When is MLPAX's next ex-dividend date? The most recently announced ex-dividend date for MLPAX was 2026-10-05. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will MLPAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.54% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MLPAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from MLPAX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MLPAX cost more than a fund like VOO? MLPAX's strategy (current expense ratio 1.54%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where MLPAX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to MLPAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as MLPAX (1.54%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/mlpax - Distribution history: https://www.dividenddata.com/funds/mlpax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/mlpax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/mlpax/expenses - Peer comparison: https://www.dividenddata.com/funds/mlpax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.