AMZY vs. TPYP
AMZY (YieldMax AMZN Option Income Strategy ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - AMZY is a Derivative Income fund actively managed by YieldMax, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. AMZY is actively managed, while TPYP is passively managed. Over the past year, AMZY returned 5.68% vs 23.32% for TPYP. At a 0.02 correlation, their price movements are largely independent. AMZY charges 1.09%/yr vs 0.40%/yr for TPYP.
Performance
AMZY vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, AMZY achieves a -2.38% return, which is significantly lower than TPYP's 20.05% return.
AMZY
- 1D
- -3.73%
- 1M
- -10.79%
- YTD
- -2.38%
- 6M
- -1.81%
- 1Y
- 5.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPYP
- 1D
- 1.24%
- 1M
- -4.81%
- YTD
- 20.05%
- 6M
- 21.48%
- 1Y
- 23.32%
- 3Y*
- 25.65%
- 5Y*
- 17.96%
- 10Y*
- 11.74%
AMZY vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AMZY YieldMax AMZN Option Income Strategy ETF | -2.38% | 10.39% | 35.28% | 18.03% |
TPYP Tortoise North American Pipeline Fund | 20.05% | 7.59% | 37.37% | 4.06% |
Correlation
The correlation between AMZY and TPYP is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2023 | 0.02 |
The correlation between AMZY and TPYP shifts across timeframes, from -0.22 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AMZY vs. TPYP — Risk / Return Rank
AMZY
TPYP
AMZY vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax AMZN Option Income Strategy ETF (AMZY) 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.
| AMZY | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.30 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 3.42 | -3.13 |
| Martin ratioReturn relative to average drawdown | 0.70 | 8.48 | -7.78 |
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Drawdowns
AMZY vs. TPYP - Drawdown Comparison
The maximum AMZY drawdown since its inception was -23.70%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for AMZY and TPYP.
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Drawdown Indicators
| AMZY | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.70% | -51.91% | +28.21% |
Max Drawdown (1Y)Largest decline over 1 year | -19.61% | -6.84% | -12.77% |
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 | -12.84% | -5.28% | -7.56% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -7.88% | +2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.17% | 2.76% | +5.41% |
Volatility
AMZY vs. TPYP - Volatility Comparison
YieldMax AMZN Option Income Strategy ETF (AMZY) has a higher volatility of 8.10% compared to Tortoise North American Pipeline Fund (TPYP) at 5.08%. This indicates that AMZY'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
| AMZY | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 5.08% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 10.33% | +6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.28% | 13.30% | +10.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.15% | 17.39% | +7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.15% | 21.93% | +3.22% |
AMZY vs. TPYP - Expense Ratio Comparison
AMZY has a 1.09% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Dividends
AMZY vs. TPYP - Dividend Comparison
AMZY's dividend yield for the trailing twelve months is around 58.63%, more than TPYP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMZY YieldMax AMZN Option Income Strategy ETF | 58.63% | 52.59% | 47.91% | 9.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.25% | 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
AMZY and TPYP have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMZY has higher volatility (8.10%) compared to TPYP (5.08%). In terms of maximum drawdown, AMZY dropped -23.70% vs TPYP's -51.91%.
On 1-year performance, TPYP leads with 23.32% vs 5.68% for AMZY. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.08%. 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 23.32% return vs 5.68%. 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 1.09% for AMZY.
AMZY has the higher dividend yield at 58.63%, compared with 3.25% for TPYP.
AMZY is categorized as Derivative Income, while TPYP is Energy Equities. They also come from different issuers: YieldMax and Tortoise. Their fees differ too: 1.09% for AMZY and 0.40% for TPYP.
TPYP currently has the higher Sharpe Ratio (1.76 vs 0.24), 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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