IEP vs. TPVG

Last updated Jun 9, 2026

IEP (Icahn Enterprises L.P.) and TPVG (TriplePoint Venture Growth BDC Corp.) are both stocks. IEP operates in Conglomerates (Industrials), while TPVG operates in Asset Management (Financial Services). Over the past 10 years, IEP returned -4.22%/yr vs 5.90%/yr for TPVG. At a 0.26 correlation, their price movements are largely independent.

Performance

IEP vs. TPVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Icahn Enterprises L.P. (IEP) and TriplePoint Venture Growth BDC Corp. (TPVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEP achieves a 11.85% return, which is significantly higher than TPVG's -13.18% return. Over the past 10 years, IEP has underperformed TPVG with an annualized return of -4.22%, while TPVG has yielded a comparatively higher 5.90% annualized return.

IEP

• 1D: 0.40%
• 1M: -1.20%
• YTD: 11.85%
• 6M: 9.31%
• 1Y: 12.08%
• 3Y*: -20.14%
• 5Y*: -19.04%
• 10Y*: -4.22%

TPVG

• 1D: 1.12%
• 1M: -5.89%
• YTD: -13.18%
• 6M: -11.63%
• 1Y: -11.14%
• 3Y*: -9.35%
• 5Y*: -7.71%
• 10Y*: 5.90%

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

IEP vs. TPVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEP Icahn Enterprises L.P.	11.85%	8.23%	-37.79%	-58.78%	18.76%	12.87%	-3.55%	20.44%	18.98%	-1.17%
TPVG TriplePoint Venture Growth BDC Corp.	-13.18%	3.93%	-20.01%	20.29%	-34.65%	50.54%	5.70%	44.22%	-2.83%	19.62%

Correlation

The correlation between IEP and TPVG 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	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Mar 7, 2014	0.26

Fundamentals

EPS IEP : -$1.15 TPVG : $1.14
PS Ratio IEP : 0.31 TPVG : 2.36
Total Revenue (TTM) IEP : $10.18B TPVG : $92.89M
Gross Profit (TTM) IEP : $1.33B TPVG : $65.21M
EBITDA (TTM) IEP : $1.17B TPVG : $63.04M

Return for Risk

IEP vs. TPVG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IEP

IEP Risk / Return Rank: 56
IEP Sharpe Ratio Rank: 59
IEP Sortino Ratio Rank: 53
IEP Omega Ratio Rank: 51
IEP Calmar Ratio Rank: 59
IEP Martin Ratio Rank: 59

TPVG

TPVG Risk / Return Rank: 27
TPVG Sharpe Ratio Rank: 27
TPVG Sortino Ratio Rank: 25
TPVG Omega Ratio Rank: 25
TPVG Calmar Ratio Rank: 30
TPVG Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IEP vs. TPVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Icahn Enterprises L.P. (IEP) and TriplePoint Venture Growth BDC Corp. (TPVG). 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.

	IEP	TPVG	Difference
Sharpe ratio: Return per unit of total volatility	0.47	-0.35	+0.82
Sortino ratio: Return per unit of downside risk	0.90	-0.29	+1.19
Omega ratio: Gain probability vs. loss probability	1.11	0.97	+0.14
Calmar ratio: Return relative to maximum drawdown	0.76	-0.35	+1.11
Martin ratio: Return relative to average drawdown	1.61	-0.71	+2.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEP vs. TPVG - Sharpe Ratio Comparison

The current IEP Sharpe Ratio is 0.47, which is higher than the TPVG Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of IEP and TPVG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IEP	TPVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	-0.35	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	-0.25	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.12	0.09	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.06	+0.09

Drawdowns

IEP vs. TPVG - Drawdown Comparison

The maximum IEP drawdown since its inception was -84.21%, roughly equal to the maximum TPVG drawdown of -81.78%. Use the drawdown chart below to compare losses from any high point for IEP and TPVG.

Drawdown Indicators

	IEP	TPVG	Difference
Max Drawdown Largest peak-to-trough decline	-84.21%	-81.78%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-16.06%	-31.61%	+15.55%
Max Drawdown (3Y) Largest decline over 3 years	-67.83%	-44.54%	-23.29%
Max Drawdown (5Y) Largest decline over 5 years	-77.56%	-54.79%	-22.77%
Max Drawdown (10Y) Largest decline over 10 years	-77.56%	-81.78%	+4.22%
Current Drawdown Current decline from peak	-71.33%	-45.45%	-25.88%
Average Drawdown Average peak-to-trough decline	-30.58%	-18.39%	-12.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.53%	15.67%	-8.14%

Volatility

IEP vs. TPVG - Volatility Comparison

The current volatility for Icahn Enterprises L.P. (IEP) is 4.19%, while TriplePoint Venture Growth BDC Corp. (TPVG) has a volatility of 8.57%. This indicates that IEP experiences smaller price fluctuations and is considered to be less risky than TPVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEP	TPVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	8.57%	-4.38%
Volatility (6M) Calculated over the trailing 6-month period	15.99%	24.86%	-8.87%
Volatility (1Y) Calculated over the trailing 1-year period	25.74%	32.09%	-6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.98%	31.57%	+9.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.37%	67.76%	-31.39%

Dividends

IEP vs. TPVG - Dividend Comparison

IEP's dividend yield for the trailing twelve months is around 26.88%, more than TPVG's 18.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEP Icahn Enterprises L.P.	26.88%	26.49%	40.37%	34.90%	15.79%	16.13%	15.79%	13.01%	12.26%	11.32%	10.01%	9.79%
TPVG TriplePoint Venture Growth BDC Corp.	18.60%	16.51%	18.97%	14.73%	14.86%	8.02%	11.81%	10.13%	14.14%	11.35%	12.22%	12.04%

Financials

IEP vs. TPVG - Profitability Comparison

The chart below illustrates the profitability comparison between Icahn Enterprises L.P. and TriplePoint Venture Growth BDC Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

IEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Icahn Enterprises L.P. reported a gross profit of 0.00 and revenue of 2.31B. Therefore, the gross margin over that period was 0.0%.

TPVG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported a gross profit of 0.00 and revenue of 22.78M. Therefore, the gross margin over that period was 0.0%.

IEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Icahn Enterprises L.P. reported an operating income of 0.00 and revenue of 2.31B, resulting in an operating margin of 0.0%.

TPVG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported an operating income of 0.00 and revenue of 22.78M, resulting in an operating margin of 0.0%.

IEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Icahn Enterprises L.P. reported a net income of -612.00M and revenue of 2.31B, resulting in a net margin of -26.5%.

TPVG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TriplePoint Venture Growth BDC Corp. reported a net income of 9.56M and revenue of 22.78M, resulting in a net margin of 42.0%.

Frequently Asked Questions

Can I hold both IEP and TPVG in my portfolio?

IEP and TPVG 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.

Which is riskier, IEP or TPVG?

TPVG has higher volatility (8.57%) compared to IEP (4.19%). In terms of maximum drawdown, IEP dropped -84.21% vs TPVG's -81.78%.

Which has better risk-adjusted returns?

IEP currently has the higher Sharpe Ratio (0.47 vs -0.35), 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.