AMLP vs. TMLP

Last updated Aug 4, 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 means they have usually moved in the same direction. 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 21.95% return and TMLP slightly lower at 21.49%.

AMLP

• 1D: -0.33%
• 1M: 5.92%
• 6M: 15.63%
• YTD: 21.95%
• 1Y: 20.87%
• 3Y*: 19.72%
• 5Y*: 20.29%
• 10Y*: 7.06%
• ALL TIME*: 5.88%

TMLP

• 1D: -1.01%
• 1M: 6.10%
• 6M: 15.35%
• YTD: 21.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMLP Alerian MLP ETF	$68.05M	$61.93M	$74.57M
TMLP Tortoise MLP ETF	$25.83K	$26.36K	$99.91K

AMLP vs. TMLP - Yearly Performance Comparison

	2026 (YTD)	2025
AMLP Alerian MLP ETF	21.95%	0.13%
TMLP Tortoise MLP ETF	21.49%	0.01%

Correlation

The correlation between AMLP and TMLP is 0.94, meaning they have usually moved in the same direction, including during past declines.

	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 historical risk-adjusted metric ranks over the past 12 months.

AMLP

AMLP Risk / Return Rank: 67
AMLP Sharpe Ratio Rank: 72
AMLP Sortino Ratio Rank: 71
AMLP Omega Ratio Rank: 68
AMLP Calmar Ratio Rank: 70
AMLP Martin Ratio Rank: 57

TMLP

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.68	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.48	—	—
Martin ratio: Return relative to average drawdown	6.92	—	—

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	-8.47%	—	—
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	-0.33%	-1.01%	+0.68%
Average Drawdown Average peak-to-trough decline	-17.26%	-2.14%	-15.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	—	—

Volatility

Volatility by Period

	AMLP	TMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	14.28%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	14.28%	+5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.65%	14.28%	+13.37%

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 7.29%, more than TMLP's 3.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.29%	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	3.69%	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 7.29%, compared with 3.69% 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.