With the US 10-year Treasury rate still within striking distance of its all-time low of 0.54% from March, the search for yield has intensified for income seekers. Investors have historically turned to energy infrastructure and utilities for their high income, and while these sectors share many similarities, there is also a great deal that sets them apart. Today, we discuss the key considerations of making an allocation to utilities and midstream energy and what differentiates the two industries as investments, including macroeconomic drivers, yields, performance, correlations with other asset classes, and valuations. Throughout this piece,