MLPAX vs. TYG
MLPAX (Invesco SteelPath MLP Alpha Fund Class A) and TYG (Tortoise Energy Infrastructure Closed Fund) are both mutual funds - MLPAX is a MLPs fund actively managed by Invesco, while TYG is a Infrastructure Equities fund actively managed by Tortoise. Both are actively managed. Over the past 10 years, MLPAX returned 9.05%/yr vs -1.12%/yr for TYG. Their 0.72 correlation means they have sometimes moved together and sometimes differently. MLPAX charges 1.54%/yr vs 2.90%/yr for TYG.
Performance
MLPAX vs. TYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLPAX achieves a 21.63% return, which is significantly higher than TYG's 12.60% return. Over the past 10 years, MLPAX has outperformed TYG with an annualized return of 9.05%, while TYG has yielded a comparatively lower -1.12% annualized return.
MLPAX
- 1D
- 0.20%
- 1M
- 3.40%
- 6M
- 14.75%
- YTD
- 21.63%
- 1Y
- 23.21%
- 3Y*
- 23.74%
- 5Y*
- 23.55%
- 10Y*
- 9.05%
- ALL TIME*
- 7.33%
TYG
- 1D
- 0.16%
- 1M
- 1.30%
- 6M
- 2.29%
- YTD
- 12.60%
- 1Y
- 11.58%
- 3Y*
- 24.56%
- 5Y*
- 21.21%
- 10Y*
- -1.12%
- ALL TIME*
- 4.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $5.92M | $6.80M | $9.17M |
MLPAX vs. TYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 21.63% | 4.31% | 40.77% | 20.43% | 29.07% | 39.45% | -30.58% | 5.60% | -15.05% | -7.22% |
TYG Tortoise Energy Infrastructure Closed Fund | 12.60% | 8.46% | 60.18% | -0.37% | 24.20% | 46.86% | -70.31% | 1.79% | -24.74% | 3.17% |
Correlation
The correlation between MLPAX and TYG is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2010 | 0.72 |
Over the past year, the correlation between MLPAX and TYG has dropped to 0.46 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MLPAX vs. TYG — Risk / Return Rank
MLPAX
TYG
MLPAX vs. TYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Tortoise Energy Infrastructure Closed Fund (TYG). 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.
| MLPAX | TYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.13 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | 0.83 | +3.03 |
| Martin ratioReturn relative to average drawdown | 9.31 | 1.92 | +7.39 |
Loading charts...
Drawdowns
MLPAX vs. TYG - Drawdown Comparison
The maximum MLPAX drawdown since its inception was -77.51%, smaller than the maximum TYG drawdown of -95.34%. Use the drawdown chart below to compare losses from any high point for MLPAX and TYG.
Loading charts...
Drawdown Indicators
| MLPAX | TYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.51% | -95.34% | +17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -5.92% | -13.94% | +8.02% |
Max Drawdown (3Y)Largest decline over 3 years | -15.29% | -25.08% | +9.79% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -25.08% | +4.04% |
Max Drawdown (10Y)Largest decline over 10 years | -72.85% | -94.98% | +22.13% |
Current DrawdownCurrent decline from peak | -1.49% | -35.77% | +34.28% |
Average DrawdownAverage peak-to-trough decline | -16.91% | -29.46% | +12.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 5.99% | -3.55% |
Volatility
MLPAX vs. TYG - Volatility Comparison
Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Tortoise Energy Infrastructure Closed Fund (TYG) have volatilities of 3.93% and 4.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MLPAX | TYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 4.06% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.26% | 16.27% | -7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.71% | 19.40% | -7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 23.56% | -4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.97% | 51.09% | -25.12% |
MLPAX vs. TYG - Expense Ratio Comparison
MLPAX has a 1.54% expense ratio, which is lower than TYG's 2.90% expense ratio.
Dividends
MLPAX vs. TYG - Dividend Comparison
MLPAX's dividend yield for the trailing twelve months is around 5.14%, less than TYG's 12.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 5.14% | 5.72% | 5.00% | 5.91% | 6.56% | 7.91% | 14.02% | 9.91% | 10.40% | 8.21% | 7.34% | 7.99% |
TYG Tortoise Energy Infrastructure Closed Fund | 12.52% | 11.25% | 7.96% | 9.87% | 8.94% | 5.27% | 10.85% | 14.61% | 13.17% | 9.01% | 8.54% | 13.95% |
Frequently Asked Questions
MLPAX and TYG have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYG has higher volatility (4.06%) compared to MLPAX (3.93%). In terms of maximum drawdown, MLPAX dropped -77.51% vs TYG's -95.34%.
MLPAX currently has the higher Sharpe Ratio (1.95 vs 0.59), 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.
Find the right allocation for MLPAX and TYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer