Kayne Anderson files energy and power ETFs as adviser of record
Series Portfolios Trust on September 21, 2026 registered the Kayne Energy Equity ETF and Kayne Power Equity ETF, each with a 0.85% management fee.
On Monday, Series Portfolios Trust, a multi-manager series trust, named Kayne Anderson Capital Advisors as adviser of record on two proposed equity ETFs: the Kayne Energy Equity ETF KEI and the Kayne Power Equity ETF KGRD. The funds carry the same 0.85% management fee as the Simplify Kayne Energy and Infrastructure Equity ETF KFLO and the Simplify Kayne Power Infrastructure Equity ETF KPW, energy and power equity products that have been in registration since a June 3 filing and have never listed.
Both would list on NYSE Arca and seek total return from income and capital appreciation. Neither had commenced operations, and the filing includes no financial statements.
What KEI and KGRD would own
Under normal circumstances, KEI would invest at least 80% of net assets plus investment borrowings in equity instruments of energy companies, defined as firms whose revenue, profit, or assets are tied predominantly to energy-related endeavors.
KGRD would run the same 80% test against power companies. The filing’s list is broader than a regulated-utility book: utilities, independent power producers, transmission and distribution operators, electricity retailers, energy-storage providers, nuclear and renewable-energy companies, and supporting technology or service companies.
KYN, KNRG, and a Simplify registration still on file
Kayne, founded in 1984, already has two public energy products. Kayne Anderson Energy Infrastructure Fund (KYN) is a NYSE-listed closed-end fund that invests across North American midstream, utilities, and renewable infrastructure. The Simplify Kayne Anderson Energy and Infrastructure Credit ETF KNRG, launched May 27, 2025, is an actively managed credit fund Kayne subadvises; it holds $153 million and charges a 0.76% expense ratio. Monday’s filing does not change either product.
On KFLO and KPW, Simplify Exchange Traded Funds is the adviser and Kayne is the named subadviser. Monday’s paper names no subadviser.
Utilities are down, and new infrastructure ETFs remain small
The Vanguard Utilities ETF VPU is down 2.9% this year through Monday, total return, sitting just above its 52-week low.
VPU closed Monday just above its 52-week low
New infrastructure products have been listing without gathering much money. The Nuveen U.S. Infrastructure ETF NUIF launched June 17 and holds $23.4 million at 0.55%.
The proposed 0.85% management fee would sit in the active cluster. Index energy and utilities remain a fraction of that cost. The paper has not completed a total-expense line.
A 75-day clock, not a listing date
Rule 485(a)(2) is the standard path for adding a new series: unless the SEC steps in, the amendment becomes effective 75 days after filing. Effectiveness is not a launch. The amendment is marked subject to completion and leaves the public-offering date as an unfilled 2026 placeholder. The advisory contract is still to come.
Simplify Exchange Traded Funds on September 10 delayed the June 3 registration for KFLO and KPW to October 9. That registration has not been withdrawn.
Frequently asked
What would the two funds hold?
Each would put at least 80% of net assets plus borrowings into equity of energy companies, in one case, and power companies in the other, with the power list spanning utilities, independent power producers, transmission and distribution, retailers, storage, nuclear and renewables, plus supporting technology and service firms.
Is 0.85% expensive?
It sits in the active cluster alongside funds like Cohen & Steers' active energy ETF at 0.80%, while index energy and utilities products charge a fraction of that.
When would these list?
No listing date is set; the filing is marked subject to completion, the offering date is a blank 2026 placeholder, and the amendment becomes effective 75 days after filing unless the SEC steps in.
What happens to the earlier Simplify Kayne energy and power funds?
Their registration has been delayed rather than withdrawn, and they have never listed.