MLPA vs. TMLP

Last updated Jul 12, 2026

MLPA (Global X MLP ETF) and TMLP (Tortoise MLP ETF) are both MLPs funds - MLPA tracks the Solactive MLP Infrastructure Index while TMLP tracks the Tortoise MLP Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. MLPA charges 0.77%/yr vs 0.50%/yr for TMLP.

Performance

MLPA vs. TMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and Tortoise MLP ETF (TMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MLPA having a 16.12% return and TMLP slightly lower at 16.03%.

MLPA

• 1D: -0.64%
• 1M: 1.22%
• 6M: 14.09%
• YTD: 16.12%
• 1Y: 16.37%
• 3Y*: 16.19%
• 5Y*: 15.54%
• 10Y*: 5.85%

TMLP

• 1D: -0.73%
• 1M: -0.20%
• 6M: 15.39%
• YTD: 16.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPA vs. TMLP - Yearly Performance Comparison

	2026 (YTD)	2025
MLPA Global X MLP ETF	16.12%	-0.04%
TMLP Tortoise MLP ETF	16.03%	0.01%

Correlation

The correlation between MLPA and TMLP is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.93

Return for Risk

MLPA vs. TMLP — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 46
MLPA Sharpe Ratio Rank: 48
MLPA Sortino Ratio Rank: 47
MLPA Omega Ratio Rank: 43
MLPA Calmar Ratio Rank: 49
MLPA Martin Ratio Rank: 40

TMLP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MLPA vs. TMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and Tortoise MLP ETF (TMLP). 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.

	MLPA	TMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	1.91	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.99	—	—
Martin ratio: Return relative to average drawdown	5.23	—	—

Drawdowns

MLPA vs. TMLP - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than TMLP's maximum drawdown of -8.55%. Use the drawdown chart below to compare losses from any high point for MLPA and TMLP.

Drawdown Indicators

	MLPA	TMLP	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-8.55%	-70.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	—	—
Current Drawdown Current decline from peak	-3.81%	-5.14%	+1.33%
Average Drawdown Average peak-to-trough decline	-20.16%	-2.18%	-17.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	—	—

Volatility

Volatility by Period

	MLPA	TMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	14.21%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.02%	14.21%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.41%	14.21%	+13.20%

MLPA vs. TMLP - Expense Ratio Comparison

MLPA has a 0.77% expense ratio, which is higher than TMLP's 0.50% expense ratio.

Dividends

MLPA vs. TMLP - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.27%, more than TMLP's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPA Global X MLP ETF	7.27%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%
TMLP Tortoise MLP ETF	3.86%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPA and TMLP in my portfolio?

With a correlation of 0.93, MLPA and TMLP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, MLPA or TMLP?

On fees, TMLP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPA or TMLP?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.77% for MLPA.

Which ETF pays a higher dividend yield, MLPA or TMLP?

MLPA has the higher dividend yield at 7.27%, compared with 3.86% for TMLP.

What is the main difference between MLPA and TMLP?

MLPA tracks Solactive MLP Infrastructure Index, while TMLP tracks Tortoise MLP Index. They also come from different issuers: Global X and Tortoise. Their fees differ too: 0.77% for MLPA and 0.50% for TMLP.