FFOG vs. TPYP

Last updated Aug 6, 2026

FFOG (Franklin Focused Growth ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - FFOG is a Large Cap Growth Equities fund actively managed by Franklin Templeton, while TPYP is a MLPs fund tracking the Tortoise North American Pipeline Index. FFOG is actively managed, while TPYP is passively managed. Over the past year, FFOG returned 11.10% vs 22.13% for TPYP. Their 0.06 correlation means their historical movements had little consistent relationship. FFOG charges 0.55%/yr vs 0.40%/yr for TPYP.

Performance

FFOG vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Focused Growth ETF (FFOG) 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, FFOG achieves a 6.92% return, which is significantly lower than TPYP's 20.31% return.

FFOG

• 1D: -0.52%
• 1M: -0.52%
• 6M: 15.09%
• YTD: 6.92%
• 1Y: 11.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.34%

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)
FFOG Franklin Focused Growth ETF	$4.94M	$2.92M	$3.07M
TPYP Tortoise North American Pipeline Fund	$2.68M	$2.32M	$2.66M

FFOG vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFOG Franklin Focused Growth ETF	6.92%	17.09%	38.20%	12.25%
TPYP Tortoise North American Pipeline Fund	20.31%	7.59%	37.37%	2.97%

Correlation

The correlation between FFOG and TPYP is -0.24, 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.	-0.24
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.06

The correlation between FFOG and TPYP shifts across timeframes, from -0.24 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

FFOG vs. TPYP - Sectors Allocation Comparison

Sectors	FFOG	TPYP
Technology	54.8%	-
Communication Services	12.9%	-
Consumer Cyclical	11.2%	-
Healthcare	7.4%	-
Industrials	3.8%	0.1%
Financial Services	2.9%	2.4%
Utilities	1.6%	21.2%
Energy	1.1%	69.6%
Basic Materials	-	0.1%
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

FFOG vs. TPYP — Risk / Return Rank

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

FFOG

FFOG Risk / Return Rank: 19
FFOG Sharpe Ratio Rank: 20
FFOG Sortino Ratio Rank: 19
FFOG Omega Ratio Rank: 20
FFOG Calmar Ratio Rank: 18
FFOG Martin Ratio Rank: 19

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.

FFOG vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Focused Growth ETF (FFOG) 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.

	FFOG	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	0.47	1.60	-1.12
Sortino ratio: Return per unit of downside risk	0.80	2.26	-1.47
Omega ratio: Gain probability vs. loss probability	1.10	1.27	-0.18
Calmar ratio: Return relative to maximum drawdown	0.51	3.25	-2.74
Martin ratio: Return relative to average drawdown	1.42	7.64	-6.22

FFOG vs. TPYP - Sharpe Ratio Comparison

The current FFOG Sharpe Ratio is 0.47, which is lower than the TPYP Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FFOG 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

FFOG vs. TPYP - Drawdown Comparison

The maximum FFOG drawdown since its inception was -25.38%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for FFOG and TPYP.

Drawdown Indicators

	FFOG	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-25.38%	-51.91%	+26.53%
Max Drawdown (1Y) Largest decline over 1 year	-21.90%	-6.84%	-15.06%
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 Drawdown Current decline from peak	-4.32%	-5.54%	+1.22%
Average Drawdown Average peak-to-trough decline	-4.65%	-7.82%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.82%	2.91%	+4.91%

Volatility

FFOG vs. TPYP - Volatility Comparison

Franklin Focused Growth ETF (FFOG) has a higher volatility of 9.04% compared to Tortoise North American Pipeline Fund (TPYP) at 4.74%. This indicates that FFOG'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

	FFOG	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	4.74%	+4.30%
Volatility (6M) Calculated over the trailing 6-month period	19.50%	11.18%	+8.32%
Volatility (1Y) Calculated over the trailing 1-year period	23.53%	13.98%	+9.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	17.41%	+7.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	21.90%	+2.59%

FFOG vs. TPYP - Expense Ratio Comparison

FFOG has a 0.55% expense ratio, which is higher than TPYP's 0.40% expense ratio.

Dividends

FFOG vs. TPYP - Dividend Comparison

FFOG 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
FFOG Franklin Focused Growth 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 FFOG and TPYP in my portfolio?

FFOG and TPYP have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFOG or TPYP?

FFOG has higher volatility (9.04%) compared to TPYP (4.74%). In terms of maximum drawdown, FFOG dropped -25.38% vs TPYP's -51.91%.

Which ETF is better, FFOG or TPYP?

On 1-year performance, TPYP leads with 22.13% vs 11.10% for FFOG. 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, FFOG or TPYP?

Over the 1-year period, TPYP has performed better with a 22.13% return vs 11.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFOG or TPYP?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.55% for FFOG.

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

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

What is the main difference between FFOG and TPYP?

FFOG is categorized as Large Cap Growth Equities, while TPYP is MLPs. They also come from different issuers: Franklin Templeton and Tortoise. Their fees differ too: 0.55% for FFOG and 0.40% for TPYP.

Which has better risk-adjusted returns?

TPYP currently has the higher Sharpe Ratio (1.60 vs 0.47), 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.