AMLP vs. TMLP

Last updated Jul 14, 2026

AMLP (Alerian MLP ETF) and TMLP (Tortoise MLP ETF) are both MLPs funds - AMLP tracks the Alerian MLP Infrastructure Index while TMLP tracks the Tortoise MLP Index. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. AMLP charges 0.90%/yr vs 0.50%/yr for TMLP.

Performance

AMLP vs. TMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP ETF (AMLP) and Tortoise MLP ETF (TMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AMLP having a 18.74% return and TMLP slightly lower at 18.41%.

AMLP

• 1D: 1.88%
• 1M: 2.99%
• 6M: 15.34%
• YTD: 18.74%
• 1Y: 19.21%
• 3Y*: 19.54%
• 5Y*: 18.25%
• 10Y*: 6.74%

TMLP

• 1D: 2.05%
• 1M: 1.84%
• 6M: 17.30%
• YTD: 18.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMLP vs. TMLP - Yearly Performance Comparison

	2026 (YTD)	2025
AMLP Alerian MLP ETF	18.74%	0.13%
TMLP Tortoise MLP ETF	18.41%	0.01%

Correlation

The correlation between AMLP and TMLP is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.94

Return for Risk

AMLP vs. TMLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMLP

AMLP Risk / Return Rank: 54
AMLP Sharpe Ratio Rank: 57
AMLP Sortino Ratio Rank: 57
AMLP Omega Ratio Rank: 54
AMLP Calmar Ratio Rank: 54
AMLP Martin Ratio Rank: 46

TMLP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMLP vs. TMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and Tortoise MLP ETF (TMLP). 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.

	AMLP	TMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.55	—	—
Sortino ratio: Return per unit of downside risk	2.18	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.16	—	—
Martin ratio: Return relative to average drawdown	6.04	—	—

Drawdowns

AMLP vs. TMLP - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, which is greater than TMLP's maximum drawdown of -8.55%. Use the drawdown chart below to compare losses from any high point for AMLP and TMLP.

Drawdown Indicators

	AMLP	TMLP	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-8.55%	-68.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	—	—
Current Drawdown Current decline from peak	-2.10%	-3.19%	+1.09%
Average Drawdown Average peak-to-trough decline	-17.32%	-2.18%	-15.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	—	—

Volatility

Volatility by Period

	AMLP	TMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	14.40%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	14.40%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.65%	14.40%	+13.25%

AMLP vs. TMLP - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is higher than TMLP's 0.50% expense ratio.

Dividends

AMLP vs. TMLP - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.49%, more than TMLP's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.49%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
TMLP Tortoise MLP ETF	3.78%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMLP and TMLP in my portfolio?

With a correlation of 0.94, AMLP and TMLP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AMLP or TMLP?

On fees, TMLP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMLP or TMLP?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.90% for AMLP.

Which ETF pays a higher dividend yield, AMLP or TMLP?

AMLP has the higher dividend yield at 7.49%, compared with 3.78% for TMLP.

What is the main difference between AMLP and TMLP?

AMLP tracks Alerian MLP Infrastructure Index, while TMLP tracks Tortoise MLP Index. They also come from different issuers: SS&C and Tortoise. Their fees differ too: 0.90% for AMLP and 0.50% for TMLP.