- ISIN
- US56167N7205
- CUSIP
- 56167N720
- Issuer
- Tortoise
- Inception Date
- Jun 30, 2015
- Region
- North America (U.S.)
- Category
- Energy Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Tortoise North American Pipeline Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $686M
Share Price Chart
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Performance
TPYP Performance Chart
Tortoise North American Pipeline Fund (TPYP) is up 20.1% since the beginning of the year. TPYP is currently trading at $42 per share. Investors who bought $1,000 worth of TPYP shares 5 years ago would now be looking at an investment worth $2,284.
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Returns By Period
Tortoise North American Pipeline Fund (TPYP) has returned 20.05% so far this year and 23.32% over the past 12 months. Over the last ten years, TPYP has returned 11.74% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Tortoise North American Pipeline Fund
- 1D
- 1.24%
- 1M
- -4.81%
- YTD
- 20.05%
- 6M
- 21.48%
- 1Y
- 23.32%
- 3Y*
- 25.65%
- 5Y*
- 17.96%
- 10Y*
- 11.74%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TPYP Monthly Returns History
Based on dividend-adjusted daily data since Jun 30, 2015, TPYP's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +22.2%, while the worst month was Mar 2020 at -32.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TPYP closed higher 52% of trading days. The best single day was Mar 13, 2020 with a return of +12.4%, while the worst single day was Mar 9, 2020 at -18.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.10% | 9.78% | 2.89% | 2.43% | -4.66% | 1.61% | 20.05% | ||||||
| 2025 | 3.17% | 2.22% | 2.15% | -4.12% | 1.32% | 2.13% | -0.67% | 1.04% | 2.61% | -5.87% | 4.96% | -1.07% | 7.59% |
| 2024 | -0.73% | 3.21% | 6.49% | -1.29% | 3.22% | 2.35% | 4.47% | 4.25% | 1.01% | 3.63% | 13.22% | -6.47% | 37.37% |
| 2023 | 3.85% | -3.39% | -0.48% | 1.73% | -4.69% | 5.98% | 3.39% | -0.98% | -1.95% | 0.04% | 7.07% | 0.18% | 10.51% |
| 2022 | 6.57% | 5.15% | 7.51% | -2.27% | 6.37% | -10.96% | 8.82% | -1.44% | -10.19% | 9.87% | 4.33% | -5.73% | 16.09% |
| 2021 | 3.00% | 6.22% | 8.31% | 5.38% | 4.28% | 2.33% | -2.65% | -1.70% | 2.52% | 5.96% | -6.15% | 3.81% | 34.97% |
Benchmark Metrics
Tortoise North American Pipeline Fund has an annualized alpha of 1.32%, beta of 0.78, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since June 30, 2015.
- This ETF participated in 83.13% of S&P 500 Index downside but only 75.43% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.32%
- Beta
- 0.78
- R²
- 0.39
- Upside Capture
- 75.43%
- Downside Capture
- 83.13%
Expense Ratio
TPYP has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TPYP ranks 55 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TPYP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.78 | +0.64 |
| Martin ratioReturn relative to average drawdown | 8.48 | 12.44 | -3.96 |
Dividends
Dividend History
Tortoise North American Pipeline Fund provided a 3.25% dividend yield over the last twelve months, with an annual payout of $1.37 per share. The fund has been increasing its distributions for 10 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.37 | $1.38 | $1.35 | $1.25 | $1.11 | $1.08 | $1.06 | $1.05 | $0.91 | $0.87 | $0.83 | $0.45 |
Dividend yield | 3.25% | 3.91% | 3.95% | 4.83% | 4.48% | 4.86% | 6.14% | 4.45% | 4.58% | 3.71% | 3.49% | 2.56% |
Monthly Dividends
The table displays the monthly dividend distributions for Tortoise North American Pipeline Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.00 | $0.34 | ||||||
| 2025 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.34 | $1.38 |
| 2024 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.35 | $1.35 |
| 2023 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.30 | $1.25 |
| 2022 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.27 | $1.11 |
| 2021 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.27 | $1.08 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Tortoise North American Pipeline Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Tortoise North American Pipeline Fund was 51.91%, occurring on Mar 18, 2020. Recovery took 288 trading sessions.
The current Tortoise North American Pipeline Fund drawdown is 5.28%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -51.91%Mar 2020 | 8mo 10d | 1y 1mo | 1y 10moJul 2019 - May 2021 |
2016 bear market2016 | -38.33%Jan 2016 | 6mo 24d | 7mo 22d | 1y 2moJun 2015 - Sep 2016 |
Rate-hike selloffLate 2018 | -21.02%Dec 2018 | 4mo 3d | 2mo 26d | 6mo 29dAug 2018 - Mar 2019 |
Bear market2022 | -17.96%Sep 2022 | 3mo 20d | 1y 3mo | 1y 6moJun 2022 - Jan 2024 |
2018 correction2018 | -14.33%Mar 2018 | 2mo 3d | 3mo 23d | 5mo 26dJan 2018 - Jul 2018 |
Drawdown Indicators
| TPYP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -56.78% | +4.87% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -9.10% | +2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -18.90% | +5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -25.43% | +7.47% |
Max Drawdown (10Y)Largest decline over 10 years | -51.91% | -33.92% | -17.99% |
Current DrawdownCurrent decline from peak | -5.28% | -1.80% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -10.71% | +2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 2.03% | +0.73% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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