AMUB vs. TMLP

Last updated Jul 14, 2026

AMUB (ETRACS Alerian MLP Index ETN Class B) and TMLP (Tortoise MLP ETF) are both MLPs funds - AMUB tracks the Alerian MLP Index while TMLP tracks the Tortoise MLP Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. AMUB charges 0.80%/yr vs 0.50%/yr for TMLP.

Performance

AMUB vs. TMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Index ETN Class B (AMUB) 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 AMUB having a 18.96% return and TMLP slightly lower at 18.41%.

AMUB

• 1D: 2.18%
• 1M: 2.62%
• 6M: 15.37%
• YTD: 18.96%
• 1Y: 17.43%
• 3Y*: 15.30%
• 5Y*: 13.69%
• 10Y*: 3.23%

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)

AMUB vs. TMLP - Yearly Performance Comparison

	2026 (YTD)	2025
AMUB ETRACS Alerian MLP Index ETN Class B	18.96%	0.07%
TMLP Tortoise MLP ETF	18.41%	0.01%

Correlation

The correlation between AMUB and TMLP is 0.90, 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	0.90

Return for Risk

AMUB vs. TMLP — Risk / Return Rank

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

AMUB

AMUB Risk / Return Rank: 40
AMUB Sharpe Ratio Rank: 43
AMUB Sortino Ratio Rank: 42
AMUB Omega Ratio Rank: 40
AMUB Calmar Ratio Rank: 39
AMUB Martin Ratio Rank: 34

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.

AMUB vs. TMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Index ETN Class B (AMUB) 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.

	AMUB	TMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.22	—	—
Sortino ratio: Return per unit of downside risk	1.76	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.60	—	—
Martin ratio: Return relative to average drawdown	4.07	—	—

Drawdowns

AMUB vs. TMLP - Drawdown Comparison

The maximum AMUB drawdown since its inception was -79.46%, which is greater than TMLP's maximum drawdown of -8.55%. Use the drawdown chart below to compare losses from any high point for AMUB and TMLP.

Drawdown Indicators

	AMUB	TMLP	Difference
Max Drawdown Largest peak-to-trough decline	-79.46%	-8.55%	-70.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.86%	—	—
Current Drawdown Current decline from peak	-4.56%	-3.19%	-1.37%
Average Drawdown Average peak-to-trough decline	-29.01%	-2.18%	-26.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	—	—

Volatility

Volatility by Period

	AMUB	TMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.40%	14.40%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.11%	14.40%	+5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.17%	14.40%	+12.77%

AMUB vs. TMLP - Expense Ratio Comparison

AMUB has a 0.80% expense ratio, which is higher than TMLP's 0.50% expense ratio.

Dividends

AMUB vs. TMLP - Dividend Comparison

AMUB has not paid dividends to shareholders, while TMLP's dividend yield for the trailing twelve months is around 3.78%.

Position	TTM	2025
AMUB ETRACS Alerian MLP Index ETN Class B	0.00%	0.00%
TMLP Tortoise MLP ETF	3.78%	0.04%

Frequently Asked Questions

Can I hold both AMUB and TMLP in my portfolio?

AMUB and TMLP have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMUB 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, AMUB or TMLP?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.80% for AMUB.

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

TMLP has the higher dividend yield at 3.78%, compared with 0.00% for AMUB.

What is the main difference between AMUB and TMLP?

AMUB tracks Alerian MLP Index, while TMLP tracks Tortoise MLP Index. They also come from different issuers: UBS and Tortoise. Their fees differ too: 0.80% for AMUB and 0.50% for TMLP.