AMZA vs PBOG

AMZAFInfraCap MLP ETF

PBOGBPortfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETF

In short

AMZA Most of the oil-and-gas aisle buys drillers through an index. AMZA runs a tight book of energy-infrastructure MLPs (the toll roads hydrocarbons travel on) and pays monthly. The boutique option in its cohort, priced like one.

PBOG Oil majors and the wildcatters in one ticker for 0.13% a year. A late-2025 launch from a lineup designed as portfolio slices, and the cheapest door into this corner of energy among its peers.

Stated mandate

AMZA The Fund seeks total return mainly through equity securities of publicly traded MLPs and partnership-taxed LLCs, with at least 80% of assets normally invested in MLPs operating in energy infrastructure.

PBOG The Fund is an actively managed exchange-traded fund that seeks capital appreciation.

Why people hold it

• AMZA Mandate keeps at least 80% of assets in MLPs operating energy infrastructure, so the exposure leans toward pipelines and storage rather than the wellhead economics most peers track.
• Distributions arrive monthly rather than quarterly, a cadence income-focused holders tend to want from an MLP sleeve.
• Trading since 2014, so it has run through a full energy cycle instead of showing up after the rebound. The book stays tight, roughly two dozen partnerships.

• PBOG Charges 0.13% a year against a 0.37% median for its oil and gas peer group. The other top-ranked funds in that group (XOP, OIH, IXC, IEO) all charge 0.35% or more.
• Covers both sides of the barrel: integrated majors plus exploration and production names. XOP and IEO stay on the E&P side; OIH holds the service companies.
• Pulled in hundreds of millions of dollars within months of launch, one of three Portfolio Building Block ETFs Nasdaq began listing in November 2025.nasdaqtrader.com

Worth knowing

• AMZA The fee is the headline trade-off: 1.72% a year, several times the typical charge among oil-and-gas ETFs in its cohort.
• It trades thinly for its size. Limit orders and calm-market execution matter more here than with the cohort's heavily traded index funds.
• Roughly two dozen names in one corner of one sector means single-partnership news lands hard. On our review it sits in the back of its peer group.

• PBOG Launched in November 2025, so the track record is thin and any read on its risk profile rests on a short window.
• One sector, one commodity. When crude drops, there is nothing else in the basket to cushion it.
• Volume is moderate rather than deep, so spreads can widen around the open and close. Limit orders earn their keep.

Full AMZA profile⁠

Full PBOG profile⁠