AMJ vs. TPYP
Compare and contrast key facts about J.P. Morgan Alerian MLP Index ETN (AMJ) and Tortoise North American Pipeline Fund (TPYP).
AMJ and TPYP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMJ is a passively managed fund by JPMorgan Chase that tracks the performance of the Alerian MLP Index. It was launched on Apr 2, 2009. TPYP is a passively managed fund by Tortoise that tracks the performance of the Tortoise North American Pipeline Index. It was launched on Jun 30, 2015. Both AMJ and TPYP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AMJ or TPYP.
Key characteristics
| AMJ | TPYP | |
|---|---|---|
| YTD Return | 13.48% | 9.35% |
| 1Y Return | 36.33% | 21.23% |
| 3Y Return (Ann) | 26.12% | 15.67% |
| 5Y Return (Ann) | 10.47% | 8.76% |
| Sharpe Ratio | 2.74 | 1.49 |
| Daily Std Dev | 13.32% | 13.70% |
| Max Drawdown | -81.21% | -51.91% |
| Current Drawdown | -2.11% | 0.00% |
Correlation
The correlation between AMJ and TPYP is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
AMJ vs. TPYP - Performance Comparison
In the year-to-date period, AMJ achieves a 13.48% return, which is significantly higher than TPYP's 9.35% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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AMJ vs. TPYP - Expense Ratio Comparison
AMJ has a 0.85% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Risk-Adjusted Performance
AMJ vs. TPYP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for J.P. Morgan Alerian MLP Index ETN (AMJ) and Tortoise North American Pipeline Fund (TPYP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
AMJ vs. TPYP - Dividend Comparison
AMJ's dividend yield for the trailing twelve months is around 5.94%, more than TPYP's 4.52% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMJ J.P. Morgan Alerian MLP Index ETN | 5.94% | 6.54% | 6.33% | 7.31% | 10.87% | 8.30% | 8.38% | 6.96% | 6.57% | 7.93% | 5.69% | 4.72% |
TPYP Tortoise North American Pipeline Fund | 4.52% | 4.83% | 4.48% | 4.86% | 6.14% | 4.44% | 4.58% | 3.71% | 3.18% | 1.48% | 0.00% | 0.00% |
Drawdowns
AMJ vs. TPYP - Drawdown Comparison
The maximum AMJ drawdown since its inception was -81.21%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for AMJ and TPYP. For additional features, visit the drawdowns tool.
Volatility
AMJ vs. TPYP - Volatility Comparison
J.P. Morgan Alerian MLP Index ETN (AMJ) has a higher volatility of 4.11% compared to Tortoise North American Pipeline Fund (TPYP) at 3.46%. This indicates that AMJ's price experiences larger fluctuations and is considered to be riskier than TPYP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.