MNZL vs. TPYP
MNZL (Manzil Russell Halal USA Broad Market ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - MNZL is a Large Cap Blend Equities fund tracking the Russell IdealRatings Manzil Halal USA Broad Market Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. At a correlation of -0.18, they often move in opposite directions. Both charge a 0.40% expense ratio.
Performance
MNZL vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, MNZL achieves a 18.40% return, which is significantly lower than TPYP's 20.05% return.
MNZL
- 1D
- 0.42%
- 1M
- 3.76%
- YTD
- 18.40%
- 6M
- 17.23%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPYP
- 1D
- 1.24%
- 1M
- -4.81%
- YTD
- 20.05%
- 6M
- 21.48%
- 1Y
- 23.32%
- 3Y*
- 25.65%
- 5Y*
- 17.96%
- 10Y*
- 11.74%
MNZL vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNZL Manzil Russell Halal USA Broad Market ETF | 18.40% | 3.37% |
TPYP Tortoise North American Pipeline Fund | 20.05% | 0.40% |
Correlation
The correlation between MNZL and TPYP is -0.18, 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 (All Time) Calculated using the full available price history since Nov 19, 2025 | -0.18 |
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Return for Risk
MNZL vs. TPYP — Risk / Return Rank
MNZL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TPYP
MNZL vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) 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.
| MNZL | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.42 | — |
| Martin ratioReturn relative to average drawdown | — | 8.48 | — |
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Drawdowns
MNZL vs. TPYP - Drawdown Comparison
The maximum MNZL drawdown since its inception was -9.66%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for MNZL and TPYP.
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Drawdown Indicators
| MNZL | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.66% | -51.91% | +42.25% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.91% | — |
Current DrawdownCurrent decline from peak | -0.87% | -5.28% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -7.88% | +6.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.76% | — |
Volatility
MNZL vs. TPYP - Volatility Comparison
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Volatility by Period
| MNZL | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.33% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.76% | 13.30% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.76% | 17.39% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 21.93% | -5.17% |
MNZL vs. TPYP - Expense Ratio Comparison
Both MNZL and TPYP have an expense ratio of 0.40%.
Dividends
MNZL vs. TPYP - Dividend Comparison
MNZL's dividend yield for the trailing twelve months is around 0.03%, less than TPYP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNZL Manzil Russell Halal USA Broad Market ETF | 0.03% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.25% | 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
MNZL and TPYP have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MNZL and TPYP have the same expense ratio: 0.40% per year.
TPYP has the higher dividend yield at 3.25%, compared with 0.03% for MNZL.
MNZL is categorized as Large Cap Blend Equities, while TPYP is Energy Equities. MNZL tracks Russell IdealRatings Manzil Halal USA Broad Market Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: Manzil and Tortoise.
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