FCG vs. TPZ
FCG (First Trust Natural Gas ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both Energy Equities funds. FCG is passively managed, while TPZ is actively managed. Over the past 10 years, FCG returned 3.65%/yr vs 8.62%/yr for TPZ. At a 0.49 correlation, their price movements are largely independent. FCG charges 0.60%/yr vs 0.85%/yr for TPZ.
Performance
FCG vs. TPZ - Performance Comparison
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Returns By Period
In the year-to-date period, FCG achieves a 18.73% return, which is significantly higher than TPZ's 10.28% return. Over the past 10 years, FCG has underperformed TPZ with an annualized return of 3.65%, while TPZ has yielded a comparatively higher 8.62% annualized return.
FCG
- 1D
- 0.33%
- 1M
- 0.72%
- 6M
- 17.67%
- YTD
- 18.73%
- 1Y
- 22.60%
- 3Y*
- 8.23%
- 5Y*
- 17.73%
- 10Y*
- 3.65%
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%
FCG vs. TPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCG First Trust Natural Gas ETF | 18.73% | -2.28% | 4.16% | 2.55% | 47.24% | 98.49% | -23.20% | -15.76% | -34.81% | -11.38% |
TPZ Tortoise Electrification Infrastructure ETF | 10.28% | 5.67% | 53.88% | 20.72% | 2.44% | 29.31% | -27.84% | 15.61% | -16.12% | -0.30% |
Correlation
The correlation between FCG and TPZ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2009 | 0.49 |
Over the past year, the correlation between FCG and TPZ has dropped to 0.27 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
FCG vs. TPZ — Risk / Return Rank
FCG
TPZ
FCG vs. TPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Natural Gas ETF (FCG) 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.
| FCG | TPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.17 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 2.13 | -0.98 |
| Martin ratioReturn relative to average drawdown | 3.01 | 4.70 | -1.69 |
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Drawdowns
FCG vs. TPZ - Drawdown Comparison
The maximum FCG drawdown since its inception was -97.20%, which is greater than TPZ's maximum drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for FCG and TPZ.
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Drawdown Indicators
| FCG | TPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.20% | -78.17% | -19.03% |
Max Drawdown (1Y)Largest decline over 1 year | -19.67% | -6.29% | -13.38% |
Max Drawdown (3Y)Largest decline over 3 years | -29.44% | -17.78% | -11.66% |
Max Drawdown (5Y)Largest decline over 5 years | -33.33% | -17.78% | -15.55% |
Max Drawdown (10Y)Largest decline over 10 years | -85.04% | -77.04% | -8.00% |
Current DrawdownCurrent decline from peak | -76.06% | -2.59% | -73.47% |
Average DrawdownAverage peak-to-trough decline | -65.43% | -11.88% | -53.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.53% | 2.84% | +4.69% |
Volatility
FCG vs. TPZ - Volatility Comparison
First Trust Natural Gas ETF (FCG) has a higher volatility of 6.71% compared to Tortoise Electrification Infrastructure ETF (TPZ) at 3.91%. This indicates that FCG's price experiences larger fluctuations and is considered to be riskier than TPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCG | TPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 3.91% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 20.54% | 10.78% | +9.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.10% | 13.76% | +13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.19% | 17.69% | +15.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.23% | 27.70% | +10.53% |
FCG vs. TPZ - Expense Ratio Comparison
FCG has a 0.60% expense ratio, which is lower than TPZ's 0.85% expense ratio.
Dividends
FCG vs. TPZ - Dividend Comparison
FCG's dividend yield for the trailing twelve months is around 2.31%, less than TPZ's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCG First Trust Natural Gas ETF | 2.31% | 2.86% | 2.76% | 3.25% | 3.04% | 1.73% | 3.82% | 2.87% | 1.46% | 1.56% | 1.70% | 4.79% |
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
FCG and TPZ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCG has higher volatility (6.71%) compared to TPZ (3.91%). In terms of maximum drawdown, FCG dropped -97.20% vs TPZ's -78.17%.
On 10-year performance, TPZ leads with 8.62% vs 3.65% for FCG. On fees, FCG is cheaper at 0.60% per year. On volatility, TPZ has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TPZ has performed better with a 8.62% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCG is cheaper with a 0.60% expense ratio, compared with 0.85% for TPZ.
TPZ has the higher dividend yield at 3.69%, compared with 2.31% for FCG.
They also come from different issuers: First Trust and Tortoise. Their fees differ too: 0.60% for FCG and 0.85% for TPZ.
TPZ currently has the higher Sharpe Ratio (0.97 vs 0.84), 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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