CMGG vs. TPYP
CMGG (Leverage Shares 2X Long CMG Daily ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - CMGG is a Leveraged Equities fund actively managed by Leverage Shares, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. CMGG is actively managed, while TPYP is passively managed. At a correlation of -0.08, they often move in opposite directions. CMGG charges 0.75%/yr vs 0.40%/yr for TPYP.
Performance
CMGG vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, CMGG achieves a -34.81% return, which is significantly lower than TPYP's 20.86% return.
CMGG
- 1D
- 4.34%
- 1M
- -9.17%
- YTD
- -34.81%
- 6M
- -37.93%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPYP
- 1D
- -0.62%
- 1M
- -4.17%
- YTD
- 20.86%
- 6M
- 20.79%
- 1Y
- 23.45%
- 3Y*
- 25.93%
- 5Y*
- 18.00%
- 10Y*
- 11.82%
CMGG vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CMGG Leverage Shares 2X Long CMG Daily ETF | -34.81% | 36.20% |
TPYP Tortoise North American Pipeline Fund | 20.86% | -0.51% |
Correlation
The correlation between CMGG and TPYP is -0.08, 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 (All Time) Calculated using the full available price history since Nov 17, 2025 | -0.08 |
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Return for Risk
CMGG vs. TPYP — Risk / Return Rank
CMGG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TPYP
CMGG vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long CMG Daily ETF (CMGG) 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.
| CMGG | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.44 | — |
| Martin ratioReturn relative to average drawdown | — | 8.44 | — |
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Drawdowns
CMGG vs. TPYP - Drawdown Comparison
The maximum CMGG drawdown since its inception was -56.75%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for CMGG and TPYP.
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Drawdown Indicators
| CMGG | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.75% | -51.91% | -4.84% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.84% | — |
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 | -45.94% | -4.64% | -41.30% |
Average DrawdownAverage peak-to-trough decline | -23.52% | -7.88% | -15.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.79% | — |
Volatility
CMGG vs. TPYP - Volatility Comparison
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Volatility by Period
| CMGG | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 68.93% | 13.34% | +55.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.93% | 17.40% | +51.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.93% | 21.93% | +47.00% |
CMGG vs. TPYP - Expense Ratio Comparison
CMGG has a 0.75% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Dividends
CMGG vs. TPYP - Dividend Comparison
CMGG has not paid dividends to shareholders, while TPYP's dividend yield for the trailing twelve months is around 3.23%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMGG Leverage Shares 2X Long CMG Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.23% | 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
CMGG and TPYP have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TPYP is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPYP is cheaper with a 0.40% expense ratio, compared with 0.75% for CMGG.
TPYP has the higher dividend yield at 3.23%, compared with 0.00% for CMGG.
CMGG is categorized as Leveraged Equities, while TPYP is Energy Equities. They also come from different issuers: Leverage Shares and Tortoise. Their fees differ too: 0.75% for CMGG and 0.40% for TPYP.
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