How does the current distribution impact the fund’s yield relative to benchmark indexes like the Alerian MLP Index?

The $0.38617 Q3 2025 distribution from ENFR translates to a ≈ 5.9 % annualized yield (assuming the $0.38617 is paid each quarter and the ETF’s current price is roughly $6.50). By contrast, the Alerian MLP Index has been trading at a ~ 6.5 % forward‑looking yield based on its own quarterly payouts and a higher price‑to‑earnings spread. Consequently, ENFR’s yield sits a few percentage points below the benchmark, reflecting its slightly lower payout ratio and the fact that a portion of its total return still comes from capital‑gain exposure to mid‑stream assets rather than pure cash flow.

From a trading perspective, the distribution will push the ETF’s price down by roughly the dividend amount on the ex‑date (≈ $0.39), creating a modest “discount” that can be attractive for yield‑seeking investors if the price stabilises above the ex‑dividend level. However, because the yield is still below the Alerian MLP Index, the fund may need price appreciation or a higher future payout to close the spread. A short‑term bias could involve buying on the dip (if the market over‑reacts to the ex‑date drop) and holding for the next distribution cycle, while a more defensive stance would favor the broader MLP index or higher‑yielding MLP ETFs until ENFR signals a lift in its payout policy.