AMLP has been a DOG and yet people continue to recommend this investment as an "ALTERNATIVE" to the S&P500, but note just how ALTERNATIVE it is. It has a yield that exceeds the dividend yield of the SPY (near 5% versus near 2%), but over time this is about the only attractive variable of the fund. The volatility is about the same, yet it lags and the performance lag is getting serious here at 60% since 2010. The dividend only explains about 15% of that underperformance. Conclusion: DOG, with fleas.
What does AMLP do? It owns MLP's that are in the business of charging for energy to be shipped through networks of pipelines. It is a "toll collector".