AMLP vs. TPYP
Compare and contrast key facts about Alerian MLP ETF (AMLP) and Tortoise North American Pipeline Fund (TPYP).
AMLP and TPYP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMLP is a passively managed fund by SS&C that tracks the performance of the Alerian MLP Infrastructure Index. It was launched on Aug 23, 2010. 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 AMLP 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: AMLP or TPYP.
Key characteristics
| AMLP | TPYP | |
|---|---|---|
| YTD Return | 16.23% | 22.63% |
| 1Y Return | 20.98% | 28.80% |
| 3Y Return (Ann) | 21.06% | 17.79% |
| 5Y Return (Ann) | 10.03% | 11.69% |
| Sharpe Ratio | 1.45 | 2.09 |
| Daily Std Dev | 14.49% | 13.34% |
| Max Drawdown | -77.19% | -51.91% |
| Current Drawdown | -3.39% | -1.05% |
Correlation
The correlation between AMLP 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
AMLP vs. TPYP - Performance Comparison
In the year-to-date period, AMLP achieves a 16.23% return, which is significantly lower than TPYP's 22.63% 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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AMLP vs. TPYP - Expense Ratio Comparison
AMLP has a 0.90% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Risk-Adjusted Performance
AMLP vs. TPYP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) 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
AMLP vs. TPYP - Dividend Comparison
AMLP's dividend yield for the trailing twelve months is around 7.82%, more than TPYP's 4.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.82% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% | 6.45% | 6.00% |
TPYP Tortoise North American Pipeline Fund | 4.06% | 4.83% | 4.48% | 4.86% | 6.14% | 4.44% | 4.58% | 3.71% | 3.18% | 1.48% | 0.00% | 0.00% |
Drawdowns
AMLP vs. TPYP - Drawdown Comparison
The maximum AMLP drawdown since its inception was -77.19%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for AMLP and TPYP. For additional features, visit the drawdowns tool.
Volatility
AMLP vs. TPYP - Volatility Comparison
Alerian MLP ETF (AMLP) has a higher volatility of 6.13% compared to Tortoise North American Pipeline Fund (TPYP) at 3.56%. This indicates that AMLP'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.