ENFR vs PSCE

ENFRBAlerian Energy Infrastructure ETF

PSCEBInvesco S&P SmallCap Energy ETF

In short

ENFR Midstream, not drillers. ENFR owns the pipelines, storage tanks and processing plants that move North American energy, tracking the Alerian Midstream Energy Select Index in a compact portfolio of roughly two dozen names.

PSCE Most energy ETFs are Exxon and Chevron wearing a trench coat. PSCE goes the other way: about 30 small-cap US energy names pulled from the S&P SmallCap 600, capped so no single driller runs the show, for 0.29% a year.

Stated mandate

ENFR ENFR seeks to track, before fees and expenses, the price and yield performance of the Alerian Midstream Energy Select Index. It also seeks total return through income and capital appreciation.

PSCE The fund seeks to invest at least 90% of its assets in small-capitalization U.S. energy companies included in its underlying index.

Why people hold it

• ENFR Charges 0.35%, under the 0.45% median for broad energy ETFs and below iShares' IYE at 0.38%.
• Different engine than most energy funds: infrastructure operators rather than the explorers and refiners whose fortunes swing with the barrel price.alpsfunds.com
• Income is written into the mandate: the fund seeks total return through income and capital appreciation, and distributions come on a quarterly schedule.
• Trading since 2013 and rated among the stronger names in our broad energy peer group.

• PSCE Genuine small-cap exposure: at least 90% of assets sit in small-cap US energy companies from the S&P SmallCap 600, so the mega-cap majors never crowd out the drillers and service names.invesco.com
• The 0.29% fee sits below the 0.45% median for broad energy funds, though the index giants (XLE, FENY, VDE) run cheaper at 0.08% to 0.09%.
• Rules-based and hands-off: the index is reconstituted and rebalanced quarterly, and its caps stop any one holding from swallowing the portfolio.invesco.comaaii.com
• Trading since 2010, it has run through several oil booms and busts, and the portfolio build lands it in the upper half of its broad-energy peer group.

Worth knowing

• ENFR Around 26 holdings in one slice of one sector. Single-name news and midstream-specific swings land harder here than in a diversified energy fund.
• The broad energy giants (XLE, FENY, VDE) all sit under 0.10%. Specialist indexing costs more.
• Moderately traded rather than a volume heavyweight, which can mean wider bid-ask spreads than the largest energy ETFs.

• PSCE Concentrated by design: roughly 30 holdings in a non-diversified structure, so one company's earnings miss can move the whole fund.aaii.com
• Thinly traded with a modest asset base, so spreads can run wider than the mega-cap energy funds. Limit orders are the usual tool here.
• Small-cap energy is one of the market's rougher rides. These names swing hard with oil and gas prices, in both directions.invesco.com

Full ENFR profile⁠

Full PSCE profile⁠