IEZ vs. TNGY
IEZ (iShares U.S. Oil Equipment & Services ETF) and TNGY (Tortoise Energy Fund) are both Energy Equities funds. IEZ is passively managed, while TNGY is actively managed. Over the past year, IEZ returned 56.95% vs 17.75% for TNGY. A 0.52 correlation means they provide meaningful diversification when combined. IEZ charges 0.42%/yr vs 0.85%/yr for TNGY.
Performance
IEZ vs. TNGY - Performance Comparison
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Returns By Period
In the year-to-date period, IEZ achieves a 33.37% return, which is significantly higher than TNGY's 16.15% return.
IEZ
- 1D
- 0.65%
- 1M
- -9.29%
- 6M
- 19.36%
- YTD
- 33.37%
- 1Y
- 56.95%
- 3Y*
- 9.02%
- 5Y*
- 16.63%
- 10Y*
- -1.66%
TNGY
- 1D
- 0.20%
- 1M
- 3.22%
- 6M
- 16.15%
- YTD
- 16.15%
- 1Y
- 17.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEZ vs. TNGY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 33.37% | 16.47% |
TNGY Tortoise Energy Fund | 16.15% | -2.37% |
Correlation
The correlation between IEZ and TNGY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025 | 0.52 |
The correlation between IEZ and TNGY has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.
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Return for Risk
IEZ vs. TNGY — Risk / Return Rank
IEZ
TNGY
IEZ vs. TNGY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil Equipment & Services ETF (IEZ) and Tortoise Energy Fund (TNGY). 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.
| IEZ | TNGY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.19 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.82 | +0.99 |
| Martin ratioReturn relative to average drawdown | 9.82 | 4.81 | +5.02 |
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Drawdowns
IEZ vs. TNGY - Drawdown Comparison
The maximum IEZ drawdown since its inception was -92.52%, which is greater than TNGY's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for IEZ and TNGY.
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Drawdown Indicators
| IEZ | TNGY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.52% | -9.79% | -82.73% |
Max Drawdown (1Y)Largest decline over 1 year | -20.34% | -9.79% | -10.55% |
Max Drawdown (3Y)Largest decline over 3 years | -40.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -88.29% | — | — |
Current DrawdownCurrent decline from peak | -55.98% | -3.13% | -52.85% |
Average DrawdownAverage peak-to-trough decline | -48.29% | -3.75% | -44.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 3.71% | +2.13% |
Volatility
IEZ vs. TNGY - Volatility Comparison
iShares U.S. Oil Equipment & Services ETF (IEZ) has a higher volatility of 8.82% compared to Tortoise Energy Fund (TNGY) at 5.24%. This indicates that IEZ's price experiences larger fluctuations and is considered to be riskier than TNGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEZ | TNGY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.82% | 5.24% | +3.58% |
Volatility (6M)Calculated over the trailing 6-month period | 20.73% | 13.17% | +7.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.34% | 16.32% | +13.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.14% | 16.50% | +19.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.45% | 16.50% | +24.95% |
IEZ vs. TNGY - Expense Ratio Comparison
IEZ has a 0.42% expense ratio, which is lower than TNGY's 0.85% expense ratio.
Dividends
IEZ vs. TNGY - Dividend Comparison
IEZ's dividend yield for the trailing twelve months is around 1.24%, less than TNGY's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 1.24% | 1.87% | 1.76% | 0.97% | 0.65% | 1.20% | 2.07% | 2.28% | 1.81% | 3.42% | 0.91% | 2.40% |
TNGY Tortoise Energy Fund | 4.57% | 2.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEZ and TNGY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEZ has higher volatility (8.82%) compared to TNGY (5.24%). In terms of maximum drawdown, IEZ dropped -92.52% vs TNGY's -9.79%.
On 1-year performance, IEZ leads with 56.95% vs 17.75% for TNGY. On fees, IEZ is cheaper at 0.42% per year. On volatility, TNGY has been the lower-risk option at 5.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEZ has performed better with a 56.95% return vs 17.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEZ is cheaper with a 0.42% expense ratio, compared with 0.85% for TNGY.
TNGY has the higher dividend yield at 4.57%, compared with 1.24% for IEZ.
They also come from different issuers: iShares and Tortoise Capital. Their fees differ too: 0.42% for IEZ and 0.85% for TNGY.
IEZ currently has the higher Sharpe Ratio (1.96 vs 1.09), 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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