PSCE vs. TNGY

Last updated Jul 14, 2026

PSCE (Invesco S&P SmallCap Energy ETF) and TNGY (Tortoise Energy Fund) are both Energy Equities funds. PSCE is passively managed, while TNGY is actively managed. Over the past year, PSCE returned 40.84% vs 18.41% for TNGY. A 0.65 correlation means they provide meaningful diversification when combined. PSCE charges 0.29%/yr vs 0.85%/yr for TNGY.

Performance

PSCE vs. TNGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Energy ETF (PSCE) and Tortoise Energy Fund (TNGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCE achieves a 34.58% return, which is significantly higher than TNGY's 15.92% return.

PSCE

• 1D: 2.46%
• 1M: -4.47%
• 6M: 27.92%
• YTD: 34.58%
• 1Y: 40.84%
• 3Y*: 7.46%
• 5Y*: 11.73%
• 10Y*: -2.24%

TNGY

• 1D: 2.40%
• 1M: 3.02%
• 6M: 17.09%
• YTD: 15.92%
• 1Y: 18.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSCE vs. TNGY - Yearly Performance Comparison

	2026 (YTD)	2025
PSCE Invesco S&P SmallCap Energy ETF	34.58%	5.65%
TNGY Tortoise Energy Fund	15.92%	-2.37%

Correlation

The correlation between PSCE and TNGY is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025	0.65

The correlation between PSCE and TNGY has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.

Return for Risk

PSCE vs. TNGY — Risk / Return Rank

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

PSCE

PSCE Risk / Return Rank: 56
PSCE Sharpe Ratio Rank: 56
PSCE Sortino Ratio Rank: 52
PSCE Omega Ratio Rank: 48
PSCE Calmar Ratio Rank: 64
PSCE Martin Ratio Rank: 58

TNGY

TNGY Risk / Return Rank: 40
TNGY Sharpe Ratio Rank: 40
TNGY Sortino Ratio Rank: 36
TNGY Omega Ratio Rank: 36
TNGY Calmar Ratio Rank: 47
TNGY Martin Ratio Rank: 40

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.

PSCE vs. TNGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Energy ETF (PSCE) and Tortoise Energy Fund (TNGY). 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.

	PSCE	TNGY	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.13	+0.36
Sortino ratio: Return per unit of downside risk	2.03	1.59	+0.44
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	2.54	1.89	+0.65
Martin ratio: Return relative to average drawdown	8.03	4.98	+3.05

PSCE vs. TNGY - Sharpe Ratio Comparison

The current PSCE Sharpe Ratio is 1.49, which is higher than the TNGY Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of PSCE and TNGY, 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

PSCE vs. TNGY - Drawdown Comparison

The maximum PSCE drawdown since its inception was -96.21%, which is greater than TNGY's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for PSCE and TNGY.

Drawdown Indicators

	PSCE	TNGY	Difference
Max Drawdown Largest peak-to-trough decline	-96.21%	-9.79%	-86.42%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-9.79%	-6.38%
Max Drawdown (3Y) Largest decline over 3 years	-44.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-90.70%	—	—
Current Drawdown Current decline from peak	-76.09%	-3.32%	-72.77%
Average Drawdown Average peak-to-trough decline	-58.93%	-3.75%	-55.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	3.70%	+1.43%

Volatility

PSCE vs. TNGY - Volatility Comparison

Invesco S&P SmallCap Energy ETF (PSCE) has a higher volatility of 8.56% compared to Tortoise Energy Fund (TNGY) at 5.50%. This indicates that PSCE's price experiences larger fluctuations and is considered to be riskier than TNGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCE	TNGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.56%	5.50%	+3.06%
Volatility (6M) Calculated over the trailing 6-month period	19.72%	13.17%	+6.55%
Volatility (1Y) Calculated over the trailing 1-year period	27.53%	16.35%	+11.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.27%	16.53%	+20.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.05%	16.53%	+26.52%

PSCE vs. TNGY - Expense Ratio Comparison

PSCE has a 0.29% expense ratio, which is lower than TNGY's 0.85% expense ratio.

Dividends

PSCE vs. TNGY - Dividend Comparison

PSCE's dividend yield for the trailing twelve months is around 2.24%, less than TNGY's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSCE Invesco S&P SmallCap Energy ETF	2.24%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%
TNGY Tortoise Energy Fund	4.58%	2.59%	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 PSCE and TNGY in my portfolio?

PSCE and TNGY have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCE or TNGY?

PSCE has higher volatility (8.56%) compared to TNGY (5.50%). In terms of maximum drawdown, PSCE dropped -96.21% vs TNGY's -9.79%.

Which ETF is better, PSCE or TNGY?

On 1-year performance, PSCE leads with 40.84% vs 18.41% for TNGY. On fees, PSCE is cheaper at 0.29% per year. On volatility, TNGY has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCE or TNGY?

Over the 1-year period, PSCE has performed better with a 40.84% return vs 18.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCE or TNGY?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.85% for TNGY.

Which ETF pays a higher dividend yield, PSCE or TNGY?

TNGY has the higher dividend yield at 4.58%, compared with 2.24% for PSCE.

What is the main difference between PSCE and TNGY?

They also come from different issuers: Invesco and Tortoise Capital. Their fees differ too: 0.29% for PSCE and 0.85% for TNGY.

Which has better risk-adjusted returns?

PSCE currently has the higher Sharpe Ratio (1.49 vs 1.13), 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.