Invesco SteelPath MLP Alpha Fund Q4 2025 Commentary

Invesco US3.32K FollowersFollow5ShareSavePlay(11min)CommentsSummaryFor the quarter, master limited partnerships, as measured by the Alerion MLP Index, rose 1.81% on a price basis and returned 3.79% when including distributions.Earnings before interest, taxes, depreciation & amortization were about 5% higher than the second quarter and about 7% above the third quarter of 2024.The rise of artificial intelligence models has been increasing power demand from data centers, which may meaningfully increase demand for natural gas.Many sector participants have continued to buy back stock as attractive valuations have in our view persisted.Many sector participants have continued to buy back stock as attractive valuations have in our view persisted. Rasi Bhadramani/iStock via Getty Images Key takeaways 1 MLPs total return outperformed the broader equity market For the quarter, master limited partnerships (MLPs), as measured by the Alerion MLP Index (AMZ), rose 1.81% on a price basis and returned 3.79% when including distributions. The S&P 500 IndexThis article was written byInvesco US3.32K FollowersFollowInvesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.Be the first to know! Sign up for Invesco US Blog and get expert investment views as they post.Disclosure for all Invesco US articles: Before investing, carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. The information provided is for educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation. The opinions expressed are those of the authors, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE All data provided by Invesco unless otherwise noted. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products and collective trust funds. Invesco Advisers, Inc. and other affiliated investment advisers mentioned provide investment advisory services and do not sell securities.

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