Miller/Howard MLP Fundamental Index®*


Growth of $100 (10 years as of 9/30/2019)*
MLPMH Performance Source: Morningstar Direct.
Annualized Performance (as of 9/30/2019)* 1 Year 3 Years 5 Years 10 Years
MHI MLP Fundamental Index (4.96) (0.77) (9.46) 7.46
Alerian MLP Index (8.13) (2.46) (8.65) 6.25
S&P 500 Index 4.25 13.39 10.84 13.24
Source: Morningstar Direct. Parentheses represent negative performance data.
 MHI MLP Fundamental Index
 Alerian MLP Index
 S&P 500 Index

* Miller/Howard Investments, LLC conducted a back test for the MLP Fundamental Index going back to the selection date of November 21, 2008 (Invest Date: November 28, 2008). For the back test, the threshold for the three-month average daily value was waived for all selection dates, excluding the selection date conducted on August 16, 2013. For the historical date November 21, 2008, the Market Capitalization requirement of $500 million was reduced to $400 million to ensure an eligible universe of at least 25 companies. The Market Capitalization requirement was used on all following selection dates. Annualized Performance and Growth of $100 noted above are based on the back test for the period November 28, 2008– August 22, 2013.

Past performance does not guarantee future results.