ENFR vs. TPYP
ENFR (Alerian Energy Infrastructure ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - ENFR is a Infrastructure Equities fund tracking the Alerian Midstream Energy Select Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 10 years, ENFR returned 12.14%/yr vs 11.89%/yr for TPYP. Their correlation of 0.91 means they have usually moved in the same direction. ENFR charges 0.35%/yr vs 0.40%/yr for TPYP.
Performance
ENFR vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, ENFR achieves a 28.27% return, which is significantly higher than TPYP's 23.68% return. Both investments have delivered pretty close results over the past 10 years, with ENFR having a 12.14% annualized return and TPYP not far behind at 11.89%.
ENFR
- 1D
- 0.25%
- 1M
- 3.92%
- 6M
- 19.23%
- YTD
- 28.27%
- 1Y
- 29.02%
- 3Y*
- 26.80%
- 5Y*
- 21.89%
- 10Y*
- 12.14%
- ALL TIME*
- 8.59%
TPYP
- 1D
- 0.37%
- 1M
- 2.75%
- 6M
- 15.48%
- YTD
- 23.68%
- 1Y
- 25.52%
- 3Y*
- 24.31%
- 5Y*
- 19.53%
- 10Y*
- 11.89%
- ALL TIME*
- 9.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.27M | $3.93M | $3.16M | |
| $2.50M | $2.27M | $2.65M |
ENFR vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 28.27% | 5.88% | 42.17% | 15.63% | 17.48% | 39.97% | -24.14% | 21.60% | -18.67% | -0.19% |
TPYP Tortoise North American Pipeline Fund | 23.68% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 23.35% | -11.13% | 2.27% |
Correlation
The correlation between ENFR and TPYP is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.91 |
The correlation between ENFR and TPYP has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
ENFR vs. TPYP — Risk / Return Rank
ENFR
TPYP
ENFR vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alerian Energy Infrastructure ETF (ENFR) 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.
| ENFR | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 3.72 | -0.39 |
| Martin ratioReturn relative to average drawdown | 8.16 | 8.80 | -0.64 |
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Drawdowns
ENFR vs. TPYP - Drawdown Comparison
The maximum ENFR drawdown since its inception was -68.28%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for ENFR and TPYP.
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Drawdown Indicators
| ENFR | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.28% | -51.91% | -16.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -6.84% | -1.80% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | -13.17% | -2.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.29% | -17.96% | -2.33% |
Max Drawdown (10Y)Largest decline over 10 years | -62.64% | -51.91% | -10.73% |
Current DrawdownCurrent decline from peak | -2.57% | -2.89% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -7.83% | -8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 2.89% | +0.63% |
Volatility
ENFR vs. TPYP - Volatility Comparison
Alerian Energy Infrastructure ETF (ENFR) and Tortoise North American Pipeline Fund (TPYP) have volatilities of 5.44% and 5.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENFR | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 5.37% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 12.30% | 11.25% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.24% | 13.91% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.19% | 17.40% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.65% | 21.90% | +2.75% |
ENFR vs. TPYP - Expense Ratio Comparison
ENFR has a 0.35% expense ratio, which is lower than TPYP's 0.40% expense ratio.
Dividends
ENFR vs. TPYP - Dividend Comparison
ENFR's dividend yield for the trailing twelve months is around 3.91%, more than TPYP's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 3.91% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
TPYP Tortoise North American Pipeline Fund | 3.19% | 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
With a correlation of 0.95, ENFR and TPYP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ENFR has higher volatility (5.44%) compared to TPYP (5.37%). In terms of maximum drawdown, ENFR dropped -68.28% vs TPYP's -51.91%.
On 10-year performance, ENFR leads with 12.14% vs 11.89% for TPYP. On fees, ENFR is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ENFR has performed better with a 12.14% return vs 11.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.40% for TPYP.
ENFR has the higher dividend yield at 3.91%, compared with 3.19% for TPYP.
ENFR is categorized as Infrastructure Equities, while TPYP is Energy Equities. ENFR tracks Alerian Midstream Energy Select Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: SS&C and Tortoise. Their fees differ too: 0.35% for ENFR and 0.40% for TPYP.
ENFR currently has the higher Sharpe Ratio (1.89 vs 1.83), 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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