MGK vs. TPYP

Last updated Jun 24, 2026

MGK (Vanguard Mega Cap Growth ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 10 years, MGK returned 18.97%/yr vs 11.89%/yr for TPYP. At a 0.35 correlation, their price movements are largely independent. MGK charges 0.05%/yr vs 0.40%/yr for TPYP.

Performance

MGK vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Growth ETF (MGK) 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, MGK achieves a 3.65% return, which is significantly lower than TPYP's 21.62% return. Over the past 10 years, MGK has outperformed TPYP with an annualized return of 18.97%, while TPYP has yielded a comparatively lower 11.89% annualized return.

MGK

• 1D: -2.12%
• 1M: -3.93%
• YTD: 3.65%
• 6M: 2.34%
• 1Y: 21.62%
• 3Y*: 23.33%
• 5Y*: 13.84%
• 10Y*: 18.97%

TPYP

• 1D: 1.30%
• 1M: -3.57%
• YTD: 21.62%
• 6M: 21.85%
• 1Y: 24.89%
• 3Y*: 26.20%
• 5Y*: 18.21%
• 10Y*: 11.89%

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

MGK vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGK Vanguard Mega Cap Growth ETF	3.65%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%
TPYP Tortoise North American Pipeline Fund	21.62%	7.59%	37.37%	10.51%	16.09%	34.97%	-20.99%	23.35%	-11.13%	2.27%

Correlation

The correlation between MGK and TPYP is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015	0.35

The correlation between MGK and TPYP shifts across timeframes, from -0.19 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

MGK vs. TPYP - Sectors Allocation Comparison

Sectors	MGK	TPYP
Technology	59.0%	-
Communication Services	15.8%	-
Consumer Cyclical	12.2%	-
Healthcare	4.6%	-
Financial Services	4.1%	2.4%
Real Estate	1.1%	-
Utilities	1.0%	22.0%
Industrials	1.0%	-
Basic Materials	0.6%	0.1%
Consumer Defensive	0.4%	-
Energy	-	68.8%

Return for Risk

MGK vs. TPYP — Risk / Return Rank

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

MGK

MGK Risk / Return Rank: 33
MGK Sharpe Ratio Rank: 36
MGK Sortino Ratio Rank: 34
MGK Omega Ratio Rank: 34
MGK Calmar Ratio Rank: 27
MGK Martin Ratio Rank: 31

TPYP

TPYP Risk / Return Rank: 60
TPYP Sharpe Ratio Rank: 59
TPYP Sortino Ratio Rank: 59
TPYP Omega Ratio Rank: 54
TPYP Calmar Ratio Rank: 75
TPYP Martin Ratio Rank: 55

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.

MGK vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) 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.

	MGK	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.88	-0.62
Sortino ratio: Return per unit of downside risk	1.76	2.61	-0.86
Omega ratio: Gain probability vs. loss probability	1.22	1.32	-0.10
Calmar ratio: Return relative to maximum drawdown	1.29	3.66	-2.37
Martin ratio: Return relative to average drawdown	4.31	9.01	-4.70

MGK vs. TPYP - Sharpe Ratio Comparison

The current MGK Sharpe Ratio is 1.26, which is lower than the TPYP Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MGK 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

MGK vs. TPYP - Drawdown Comparison

The maximum MGK drawdown since its inception was -48.43%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for MGK and TPYP.

Drawdown Indicators

	MGK	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-48.43%	-51.91%	+3.48%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-6.84%	-10.01%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-13.17%	-10.19%
Max Drawdown (5Y) Largest decline over 5 years	-36.01%	-17.96%	-18.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.01%	-51.91%	+15.90%
Current Drawdown Current decline from peak	-7.14%	-4.04%	-3.10%
Average Drawdown Average peak-to-trough decline	-7.58%	-7.88%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	2.77%	+2.25%

Volatility

MGK vs. TPYP - Volatility Comparison

Vanguard Mega Cap Growth ETF (MGK) has a higher volatility of 7.08% compared to Tortoise North American Pipeline Fund (TPYP) at 5.29%. This indicates that MGK'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

	MGK	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	5.29%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	13.75%	10.38%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.33%	13.33%	+4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.80%	17.40%	+5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.96%	21.93%	+0.03%

MGK vs. TPYP - Expense Ratio Comparison

MGK has a 0.05% expense ratio, which is lower than TPYP's 0.40% expense ratio.

Dividends

MGK vs. TPYP - Dividend Comparison

MGK's dividend yield for the trailing twelve months is around 0.34%, less than TPYP's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.34%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
TPYP Tortoise North American Pipeline Fund	3.21%	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 MGK and TPYP in my portfolio?

MGK and TPYP have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGK or TPYP?

MGK has higher volatility (7.08%) compared to TPYP (5.29%). In terms of maximum drawdown, MGK dropped -48.43% vs TPYP's -51.91%.

Which ETF is better, MGK or TPYP?

On 10-year performance, MGK leads with 18.97% vs 11.89% for TPYP. On fees, MGK is cheaper at 0.05% per year. On volatility, TPYP has been the lower-risk option at 5.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGK or TPYP?

Over the 10-year period, MGK has performed better with a 18.97% return vs 11.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGK or TPYP?

MGK is cheaper with a 0.05% expense ratio, compared with 0.40% for TPYP.

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

TPYP has the higher dividend yield at 3.21%, compared with 0.34% for MGK.

What is the main difference between MGK and TPYP?

MGK is categorized as Large Cap Growth Equities, while TPYP is Energy Equities. MGK tracks CRSP US Mega Cap Growth Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: Vanguard and Tortoise. Their fees differ too: 0.05% for MGK and 0.40% for TPYP.

Which has better risk-adjusted returns?

TPYP currently has the higher Sharpe Ratio (1.88 vs 1.26), 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.