IYE vs. TPZ

Last updated Aug 5, 2026

IYE (iShares U.S. Energy ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both exchange-traded funds - IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index, while TPZ is a Infrastructure Equities fund actively managed by Tortoise. IYE is passively managed, while TPZ is actively managed. Over the past 10 years, IYE returned 8.89%/yr vs 8.30%/yr for TPZ. Their 0.52 correlation means they have sometimes moved together and sometimes differently. IYE charges 0.42%/yr vs 0.85%/yr for TPZ.

Performance

IYE vs. TPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) and Tortoise Electrification Infrastructure ETF (TPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYE achieves a 32.30% return, which is significantly higher than TPZ's 6.91% return. Over the past 10 years, IYE has outperformed TPZ with an annualized return of 8.89%, while TPZ has yielded a comparatively lower 8.30% annualized return.

IYE

• 1D: -0.35%
• 1M: 9.69%
• 6M: 15.13%
• YTD: 32.30%
• 1Y: 40.36%
• 3Y*: 13.73%
• 5Y*: 22.20%
• 10Y*: 8.89%
• ALL TIME*: 7.45%

TPZ

• 1D: -0.44%
• 1M: -1.48%
• 6M: 3.90%
• YTD: 6.91%
• 1Y: 3.96%
• 3Y*: 22.25%
• 5Y*: 18.69%
• 10Y*: 8.30%
• ALL TIME*: 7.92%

*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)
IYE iShares U.S. Energy ETF	$45.57M	$48.49M	$74.82M
TPZ Tortoise Electrification Infrastructure ETF	$293.05K	$219.78K	$220.84K

IYE vs. TPZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYE iShares U.S. Energy ETF	32.30%	7.33%	6.06%	-2.21%	60.21%	53.42%	-33.49%	10.03%	-19.37%	-1.80%
TPZ Tortoise Electrification Infrastructure ETF	6.91%	5.67%	53.88%	20.72%	2.44%	29.31%	-27.84%	15.61%	-16.12%	-0.30%

Correlation

The correlation between IYE and TPZ is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.55
Correlation (All Time) Calculated using the full available price history since Jul 29, 2009	0.52

The correlation between IYE and TPZ shifts across timeframes, from 0.33 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

IYE vs. TPZ - Sectors Allocation Comparison

Sectors	IYE	TPZ
Energy	98.3%	51.8%
Technology	1.5%	-
Financial Services	0.0%	-
Industrials	0.0%	4.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	43.6%

Return for Risk

IYE vs. TPZ — Risk / Return Rank

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

IYE

IYE Risk / Return Rank: 68
IYE Sharpe Ratio Rank: 78
IYE Sortino Ratio Rank: 70
IYE Omega Ratio Rank: 67
IYE Calmar Ratio Rank: 71
IYE Martin Ratio Rank: 56

TPZ

TPZ Risk / Return Rank: 17
TPZ Sharpe Ratio Rank: 16
TPZ Sortino Ratio Rank: 15
TPZ Omega Ratio Rank: 14
TPZ Calmar Ratio Rank: 19
TPZ Martin Ratio Rank: 19

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.

IYE vs. TPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) 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.

	IYE	TPZ	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.28	+1.70
Sortino ratio: Return per unit of downside risk	2.56	0.49	+2.08
Omega ratio: Gain probability vs. loss probability	1.32	1.06	+0.26
Calmar ratio: Return relative to maximum drawdown	2.79	0.60	+2.19
Martin ratio: Return relative to average drawdown	7.37	1.38	+5.99

IYE vs. TPZ - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 1.98, which is higher than the TPZ Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of IYE and TPZ, 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

IYE vs. TPZ - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, smaller than the maximum TPZ drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for IYE and TPZ.

Drawdown Indicators

	IYE	TPZ	Difference
Max Drawdown Largest peak-to-trough decline	-73.74%	-78.17%	+4.43%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-6.63%	-7.91%
Max Drawdown (3Y) Largest decline over 3 years	-20.37%	-17.78%	-2.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-17.78%	-7.83%
Max Drawdown (10Y) Largest decline over 10 years	-68.59%	-77.04%	+8.45%
Current Drawdown Current decline from peak	-5.49%	-5.57%	+0.08%
Average Drawdown Average peak-to-trough decline	-19.29%	-11.85%	-7.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.49%	2.99%	+2.50%

Volatility

IYE vs. TPZ - Volatility Comparison

iShares U.S. Energy ETF (IYE) has a higher volatility of 5.96% compared to Tortoise Electrification Infrastructure ETF (TPZ) at 4.75%. This indicates that IYE'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.

Volatility by Period

	IYE	TPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	4.75%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	16.23%	11.20%	+5.03%
Volatility (1Y) Calculated over the trailing 1-year period	20.46%	14.15%	+6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.41%	17.67%	+7.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.49%	27.73%	+1.76%

IYE vs. TPZ - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is lower than TPZ's 0.85% expense ratio.

Dividends

IYE vs. TPZ - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.15%, less than TPZ's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYE iShares U.S. Energy ETF	2.15%	2.85%	2.75%	2.99%	3.37%	2.98%	4.75%	6.60%	3.16%	2.66%	2.11%	3.39%
TPZ Tortoise Electrification Infrastructure ETF	3.49%	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

Can I hold both IYE and TPZ in my portfolio?

IYE and TPZ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYE or TPZ?

IYE has higher volatility (5.96%) compared to TPZ (4.75%). In terms of maximum drawdown, IYE dropped -73.74% vs TPZ's -78.17%.

Which ETF is better, IYE or TPZ?

On 10-year performance, IYE leads with 8.89% vs 8.30% for TPZ. On fees, IYE is cheaper at 0.42% per year. On volatility, TPZ has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYE or TPZ?

Over the 10-year period, IYE has performed better with a 8.89% return vs 8.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYE or TPZ?

IYE is cheaper with a 0.42% expense ratio, compared with 0.85% for TPZ.

Which ETF pays a higher dividend yield, IYE or TPZ?

TPZ has the higher dividend yield at 3.49%, compared with 2.15% for IYE.

What is the main difference between IYE and TPZ?

IYE is categorized as Energy Equities, while TPZ is Infrastructure Equities. They also come from different issuers: iShares and Tortoise. Their fees differ too: 0.42% for IYE and 0.85% for TPZ.

Which has better risk-adjusted returns?

IYE currently has the higher Sharpe Ratio (1.98 vs 0.28), 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.