AMJB vs. TPYP
AMJB (Alerian MLP Index ETN) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - AMJB is a Energy Equities fund tracking the Alerian MLP Index, while TPYP is a MLPs fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past year, AMJB returned 17.84% vs 22.13% for TPYP. Their 0.70 correlation means they have sometimes moved together and sometimes differently. AMJB charges 0.85%/yr vs 0.40%/yr for TPYP.
Performance
AMJB vs. TPYP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with AMJB having a 21.26% return and TPYP slightly lower at 20.31%.
AMJB
- 1D
- -1.95%
- 1M
- 6.30%
- 6M
- 9.58%
- YTD
- 21.26%
- 1Y
- 17.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.04%
TPYP
- 1D
- -1.47%
- 1M
- 0.33%
- 6M
- 10.96%
- YTD
- 20.31%
- 1Y
- 22.13%
- 3Y*
- 23.42%
- 5Y*
- 18.93%
- 10Y*
- 11.32%
- ALL TIME*
- 9.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $846.00K | $939.26K | $1.10M | |
| $2.68M | $2.32M | $2.66M |
AMJB vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AMJB Alerian MLP Index ETN | 21.26% | 1.36% | 10.85% |
TPYP Tortoise North American Pipeline Fund | 20.31% | 7.59% | 37.91% |
Correlation
The correlation between AMJB and TPYP is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2024 | 0.70 |
The correlation between AMJB and TPYP has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.
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Return for Risk
AMJB vs. TPYP — Risk / Return Rank
AMJB
TPYP
AMJB vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alerian MLP Index ETN (AMJB) 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.
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.
| AMJB | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 3.25 | -1.73 |
| Martin ratioReturn relative to average drawdown | 4.53 | 7.64 | -3.11 |
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Drawdowns
AMJB vs. TPYP - Drawdown Comparison
The maximum AMJB drawdown since its inception was -17.70%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for AMJB and TPYP.
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Drawdown Indicators
| AMJB | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -51.91% | +34.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -6.84% | -4.96% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.91% | — |
Current DrawdownCurrent decline from peak | -3.20% | -5.54% | +2.34% |
Average DrawdownAverage peak-to-trough decline | -5.01% | -7.82% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 2.91% | +1.05% |
Volatility
AMJB vs. TPYP - Volatility Comparison
Alerian MLP Index ETN (AMJB) has a higher volatility of 5.12% compared to Tortoise North American Pipeline Fund (TPYP) at 4.74%. This indicates that AMJB'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.
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Volatility by Period
| AMJB | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 4.74% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.30% | 11.18% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.57% | 13.98% | +2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 17.41% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.36% | 21.90% | -3.54% |
AMJB vs. TPYP - Expense Ratio Comparison
AMJB has a 0.85% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Dividends
AMJB vs. TPYP - Dividend Comparison
AMJB has not paid dividends to shareholders, while TPYP's dividend yield for the trailing twelve months is around 3.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMJB Alerian MLP Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.28% | 3.91% | 3.95% | 4.83% | 4.48% | 4.86% | 6.14% | 4.45% | 4.58% | 3.71% | 3.49% | 2.56% |
Frequently Asked Questions
AMJB and TPYP have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMJB has higher volatility (5.12%) compared to TPYP (4.74%). In terms of maximum drawdown, AMJB dropped -17.70% vs TPYP's -51.91%.
On 1-year performance, TPYP leads with 22.13% vs 17.84% for AMJB. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TPYP has performed better with a 22.13% return vs 17.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TPYP is cheaper with a 0.40% expense ratio, compared with 0.85% for AMJB.
TPYP has the higher dividend yield at 3.28%, compared with 0.00% for AMJB.
AMJB is categorized as Energy Equities, while TPYP is MLPs. AMJB tracks Alerian MLP Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: JPMorgan and Tortoise. Their fees differ too: 0.85% for AMJB and 0.40% for TPYP.
TPYP currently has the higher Sharpe Ratio (1.60 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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