BKGI vs. TPZ

Last updated Jul 17, 2026

BKGI (Bny Mellon Global Infrastructure Income ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both Energy Equities funds. Both are actively managed. Over the past 3 years, BKGI returned 21.51%/yr vs 25.21%/yr for TPZ. A 0.56 correlation means they provide meaningful diversification when combined. BKGI charges 0.65%/yr vs 0.85%/yr for TPZ.

Performance

BKGI vs. TPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bny Mellon Global Infrastructure Income ETF (BKGI) and Tortoise Electrification Infrastructure ETF (TPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKGI achieves a 14.63% return, which is significantly higher than TPZ's 10.28% return.

BKGI

• 1D: 0.31%
• 1M: 1.38%
• 6M: 12.05%
• YTD: 14.63%
• 1Y: 23.16%
• 3Y*: 21.51%
• 5Y*: —
• 10Y*: —

TPZ

• 1D: 0.03%
• 1M: 2.16%
• 6M: 7.44%
• YTD: 10.28%
• 1Y: 13.35%
• 3Y*: 25.21%
• 5Y*: 18.00%
• 10Y*: 8.62%

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

BKGI vs. TPZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BKGI Bny Mellon Global Infrastructure Income ETF	14.63%	37.53%	12.35%	9.72%	8.54%
TPZ Tortoise Electrification Infrastructure ETF	10.28%	5.67%	53.88%	20.72%	-1.53%

Correlation

The correlation between BKGI and TPZ is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.56

The correlation between BKGI and TPZ has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

BKGI vs. TPZ — Risk / Return Rank

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

BKGI

BKGI Risk / Return Rank: 79
BKGI Sharpe Ratio Rank: 79
BKGI Sortino Ratio Rank: 77
BKGI Omega Ratio Rank: 77
BKGI Calmar Ratio Rank: 86
BKGI Martin Ratio Rank: 77

TPZ

TPZ Risk / Return Rank: 37
TPZ Sharpe Ratio Rank: 33
TPZ Sortino Ratio Rank: 32
TPZ Omega Ratio Rank: 30
TPZ Calmar Ratio Rank: 52
TPZ Martin Ratio Rank: 38

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.

BKGI vs. TPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bny Mellon Global Infrastructure Income ETF (BKGI) and Tortoise Electrification Infrastructure ETF (TPZ). 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.

	BKGI	TPZ	Difference
Sharpe ratio: Return per unit of total volatility	2.00	0.97	+1.02
Sortino ratio: Return per unit of downside risk	2.76	1.43	+1.33
Omega ratio: Gain probability vs. loss probability	1.36	1.17	+0.19
Calmar ratio: Return relative to maximum drawdown	3.78	2.13	+1.65
Martin ratio: Return relative to average drawdown	11.31	4.70	+6.61

BKGI vs. TPZ - Sharpe Ratio Comparison

The current BKGI Sharpe Ratio is 2.00, which is higher than the TPZ Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of BKGI and TPZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKGI vs. TPZ - Drawdown Comparison

The maximum BKGI drawdown since its inception was -14.79%, smaller than the maximum TPZ drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for BKGI and TPZ.

Drawdown Indicators

	BKGI	TPZ	Difference
Max Drawdown Largest peak-to-trough decline	-14.79%	-78.17%	+63.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-6.29%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-14.16%	-17.78%	+3.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.78%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.04%	—
Current Drawdown Current decline from peak	-1.04%	-2.59%	+1.55%
Average Drawdown Average peak-to-trough decline	-2.56%	-11.88%	+9.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.84%	-0.79%

Volatility

BKGI vs. TPZ - Volatility Comparison

The current volatility for Bny Mellon Global Infrastructure Income ETF (BKGI) is 3.54%, while Tortoise Electrification Infrastructure ETF (TPZ) has a volatility of 3.91%. This indicates that BKGI experiences smaller price fluctuations and is considered to be less risky than TPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKGI	TPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.91%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	10.78%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	13.76%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	17.69%	-3.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.99%	27.70%	-13.71%

BKGI vs. TPZ - Expense Ratio Comparison

BKGI has a 0.65% expense ratio, which is lower than TPZ's 0.85% expense ratio.

Dividends

BKGI vs. TPZ - Dividend Comparison

BKGI's dividend yield for the trailing twelve months is around 2.88%, less than TPZ's 3.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKGI Bny Mellon Global Infrastructure Income ETF	2.88%	2.65%	4.55%	4.55%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPZ Tortoise Electrification Infrastructure ETF	3.69%	3.99%	5.88%	8.99%	9.52%	4.77%	8.80%	8.84%	9.41%	7.28%	6.88%	9.68%

Frequently Asked Questions

Can I hold both BKGI and TPZ in my portfolio?

BKGI and TPZ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKGI or TPZ?

TPZ has higher volatility (3.91%) compared to BKGI (3.54%). In terms of maximum drawdown, BKGI dropped -14.79% vs TPZ's -78.17%.

Which ETF is better, BKGI or TPZ?

On 3-year performance, TPZ leads with 25.21% vs 21.51% for BKGI. On fees, BKGI is cheaper at 0.65% per year. On volatility, BKGI has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKGI or TPZ?

Over the 3-year period, TPZ has performed better with a 25.21% return vs 21.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKGI or TPZ?

BKGI is cheaper with a 0.65% expense ratio, compared with 0.85% for TPZ.

Which ETF pays a higher dividend yield, BKGI or TPZ?

TPZ has the higher dividend yield at 3.69%, compared with 2.88% for BKGI.

What is the main difference between BKGI and TPZ?

They also come from different issuers: BNY Mellon and Tortoise. Their fees differ too: 0.65% for BKGI and 0.85% for TPZ.

Which has better risk-adjusted returns?

BKGI currently has the higher Sharpe Ratio (2.00 vs 0.97), 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.