DAT vs. TPYP

Last updated Aug 6, 2026

DAT (ProShares Big Data Refiners ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - DAT is a Technology Equities fund tracking the FactSet Big Data Refiners Index, while TPYP is a MLPs fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 3 years, DAT returned 18.54%/yr vs 23.42%/yr for TPYP. Their 0.26 correlation means their historical movements had little consistent relationship. DAT charges 0.58%/yr vs 0.40%/yr for TPYP.

Performance

DAT vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Big Data Refiners ETF (DAT) and Tortoise North American Pipeline Fund (TPYP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAT achieves a 6.40% return, which is significantly lower than TPYP's 20.31% return.

DAT

• 1D: -0.77%
• 1M: 7.95%
• 6M: 31.80%
• YTD: 6.40%
• 1Y: 6.29%
• 3Y*: 18.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.55%

TPYP

• 1D: -1.47%
• 1M: 0.33%
• 6M: 10.96%
• YTD: 20.31%
• 1Y: 22.13%
• 3Y*: 23.42%
• 5Y*: 18.93%
• 10Y*: 11.32%
• ALL TIME*: 9.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAT ProShares Big Data Refiners ETF	$134.78K	$115.24K	$107.53K
TPYP Tortoise North American Pipeline Fund	$2.68M	$2.32M	$2.66M

DAT vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAT ProShares Big Data Refiners ETF	6.40%	3.49%	33.22%	51.76%	-44.33%	-4.44%
TPYP Tortoise North American Pipeline Fund	20.31%	7.59%	37.37%	10.51%	16.09%	2.86%

Correlation

The correlation between DAT and TPYP is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.26

The correlation between DAT and TPYP shifts across timeframes, from -0.14 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

DAT vs. TPYP - Sectors Allocation Comparison

Sectors	DAT	TPYP
Technology	90.0%	-
Communication Services	4.3%	-
Utilities	1.4%	21.2%
Healthcare	0.7%	-
Basic Materials	-	0.1%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	69.6%
Financial Services	-	2.4%
Industrials	-	0.1%
Real Estate	-	-

Return for Risk

DAT vs. TPYP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DAT

DAT Risk / Return Rank: 14
DAT Sharpe Ratio Rank: 14
DAT Sortino Ratio Rank: 15
DAT Omega Ratio Rank: 14
DAT Calmar Ratio Rank: 13
DAT Martin Ratio Rank: 13

TPYP

TPYP Risk / Return Rank: 61
TPYP Sharpe Ratio Rank: 58
TPYP Sortino Ratio Rank: 58
TPYP Omega Ratio Rank: 52
TPYP Calmar Ratio Rank: 80
TPYP Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DAT vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Big Data Refiners ETF (DAT) 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.

	DAT	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.60	-1.40
Sortino ratio: Return per unit of downside risk	0.52	2.26	-1.74
Omega ratio: Gain probability vs. loss probability	1.06	1.27	-0.21
Calmar ratio: Return relative to maximum drawdown	0.18	3.25	-3.07
Martin ratio: Return relative to average drawdown	0.40	7.64	-7.24

DAT vs. TPYP - Sharpe Ratio Comparison

The current DAT Sharpe Ratio is 0.20, which is lower than the TPYP Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of DAT and TPYP, 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

DAT vs. TPYP - Drawdown Comparison

The maximum DAT drawdown since its inception was -56.22%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for DAT and TPYP.

Drawdown Indicators

	DAT	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-56.22%	-51.91%	-4.31%
Max Drawdown (1Y) Largest decline over 1 year	-34.70%	-6.84%	-27.86%
Max Drawdown (3Y) Largest decline over 3 years	-34.73%	-13.17%	-21.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.91%	—
Current Drawdown Current decline from peak	-1.26%	-5.54%	+4.28%
Average Drawdown Average peak-to-trough decline	-25.70%	-7.82%	-17.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.88%	2.91%	+12.97%

Volatility

DAT vs. TPYP - Volatility Comparison

ProShares Big Data Refiners ETF (DAT) has a higher volatility of 10.40% compared to Tortoise North American Pipeline Fund (TPYP) at 4.74%. This indicates that DAT'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.

Volatility by Period

	DAT	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.40%	4.74%	+5.66%
Volatility (6M) Calculated over the trailing 6-month period	26.66%	11.18%	+15.48%
Volatility (1Y) Calculated over the trailing 1-year period	31.96%	13.98%	+17.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.03%	17.41%	+16.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.03%	21.90%	+12.13%

DAT vs. TPYP - Expense Ratio Comparison

DAT has a 0.58% expense ratio, which is higher than TPYP's 0.40% expense ratio.

Dividends

DAT vs. TPYP - Dividend Comparison

DAT has not paid dividends to shareholders, while TPYP's dividend yield for the trailing twelve months is around 3.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAT ProShares Big Data Refiners 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	3.28%	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

Can I hold both DAT and TPYP in my portfolio?

DAT and TPYP have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAT or TPYP?

DAT has higher volatility (10.40%) compared to TPYP (4.74%). In terms of maximum drawdown, DAT dropped -56.22% vs TPYP's -51.91%.

Which ETF is better, DAT or TPYP?

On 3-year performance, TPYP leads with 23.42% vs 18.54% for DAT. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAT or TPYP?

Over the 3-year period, TPYP has performed better with a 23.42% return vs 18.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAT or TPYP?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.58% for DAT.

Which ETF pays a higher dividend yield, DAT or TPYP?

TPYP has the higher dividend yield at 3.28%, compared with 0.00% for DAT.

What is the main difference between DAT and TPYP?

DAT is categorized as Technology Equities, while TPYP is MLPs. DAT tracks FactSet Big Data Refiners Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: ProShares and Tortoise. Their fees differ too: 0.58% for DAT and 0.40% for TPYP.

Which has better risk-adjusted returns?

TPYP currently has the higher Sharpe Ratio (1.60 vs 0.20), 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.