Kayne Anderson Midstream (KMF) gained 32% in the last 12 months, the best return of 259 energy MLPs with $100M-plus, and fund manager Kevin McCarthy thinks it's only the beginning. But KMF is more volatile than most MLPs; ~30% of its portfolio is paid for with borrowed money, meaning the leverage boosts returns when the portfolio does well and worsens the pain when it falls.
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