ANGL vs. TPYP
ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 10 years, ANGL returned 6.28%/yr vs 12.22%/yr for TPYP. At a 0.41 correlation, their price movements are largely independent. ANGL charges 0.35%/yr vs 0.40%/yr for TPYP.
Performance
ANGL vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, ANGL achieves a 1.87% return, which is significantly lower than TPYP's 22.03% return. Over the past 10 years, ANGL has underperformed TPYP with an annualized return of 6.28%, while TPYP has yielded a comparatively higher 12.22% annualized return.
ANGL
- 1D
- 0.03%
- 1M
- 1.57%
- YTD
- 1.87%
- 6M
- 2.30%
- 1Y
- 7.82%
- 3Y*
- 8.49%
- 5Y*
- 3.32%
- 10Y*
- 6.28%
TPYP
- 1D
- 0.86%
- 1M
- -1.66%
- YTD
- 22.03%
- 6M
- 22.42%
- 1Y
- 23.92%
- 3Y*
- 25.50%
- 5Y*
- 17.51%
- 10Y*
- 12.22%
ANGL vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.87% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
TPYP Tortoise North American Pipeline Fund | 22.03% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 23.35% | -11.13% | 2.27% |
Correlation
The correlation between ANGL and TPYP is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.41 |
The correlation between ANGL and TPYP shifts across timeframes, from -0.02 (1 year) to 0.42 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ANGL vs. TPYP — Risk / Return Rank
ANGL
TPYP
ANGL vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) 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.
| ANGL | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 3.53 | -1.69 |
| Martin ratioReturn relative to average drawdown | 7.72 | 9.15 | -1.42 |
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Drawdowns
ANGL vs. TPYP - Drawdown Comparison
The maximum ANGL drawdown since its inception was -29.31%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for ANGL and TPYP.
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Drawdown Indicators
| ANGL | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -51.91% | +22.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -6.84% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.48% | -13.17% | +7.69% |
Max Drawdown (5Y)Largest decline over 5 years | -19.25% | -17.96% | -1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -29.31% | -51.91% | +22.60% |
Current DrawdownCurrent decline from peak | 0.00% | -3.72% | +3.72% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -7.88% | +4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 2.64% | -1.67% |
Volatility
ANGL vs. TPYP - Volatility Comparison
The current volatility for VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) is 1.45%, while Tortoise North American Pipeline Fund (TPYP) has a volatility of 5.30%. This indicates that ANGL experiences smaller price fluctuations and is considered to be less risky 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
| ANGL | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 5.30% | -3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 10.26% | -6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 13.14% | -8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.63% | 17.46% | -9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 21.93% | -12.65% |
ANGL vs. TPYP - Expense Ratio Comparison
ANGL has a 0.35% expense ratio, which is lower than TPYP's 0.40% expense ratio.
Dividends
ANGL vs. TPYP - Dividend Comparison
ANGL's dividend yield for the trailing twelve months is around 6.35%, more than TPYP's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.35% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
TPYP Tortoise North American Pipeline Fund | 3.20% | 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
ANGL and TPYP have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TPYP has higher volatility (5.30%) compared to ANGL (1.45%). In terms of maximum drawdown, ANGL dropped -29.31% vs TPYP's -51.91%.
On 10-year performance, TPYP leads with 12.22% vs 6.28% for ANGL. On fees, ANGL is cheaper at 0.35% per year. On volatility, ANGL has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TPYP has performed better with a 12.22% return vs 6.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.35% expense ratio, compared with 0.40% for TPYP.
ANGL has the higher dividend yield at 6.35%, compared with 3.20% for TPYP.
ANGL is categorized as High Yield Bonds, while TPYP is Energy Equities. ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: VanEck and Tortoise. Their fees differ too: 0.35% for ANGL and 0.40% for TPYP.
TPYP currently has the higher Sharpe Ratio (1.84 vs 1.71), 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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