QQH vs. TPYP
QQH (HCM Defender 100 Index ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - QQH is a Technology Equities fund tracking the HCM Defender 100 Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 5 years, QQH returned 11.77%/yr vs 18.54%/yr for TPYP. At a 0.23 correlation, their price movements are largely independent. QQH charges 1.14%/yr vs 0.40%/yr for TPYP.
Performance
QQH vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, QQH achieves a 10.24% return, which is significantly lower than TPYP's 22.99% return.
QQH
- 1D
- 0.68%
- 1M
- 1.46%
- 6M
- 8.00%
- YTD
- 10.24%
- 1Y
- 25.71%
- 3Y*
- 22.29%
- 5Y*
- 11.77%
- 10Y*
- —
TPYP
- 1D
- -0.25%
- 1M
- 0.79%
- 6M
- 24.31%
- YTD
- 22.99%
- 1Y
- 26.53%
- 3Y*
- 24.84%
- 5Y*
- 18.54%
- 10Y*
- 11.58%
QQH vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 10.24% | 15.66% | 33.64% | 48.05% | -39.60% | 37.52% | 41.71% | 15.09% |
TPYP Tortoise North American Pipeline Fund | 22.99% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 5.12% |
Correlation
The correlation between QQH 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 | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.23 |
The correlation between QQH and TPYP shifts across timeframes, from -0.19 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QQH vs. TPYP — Risk / Return Rank
QQH
TPYP
QQH vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HCM Defender 100 Index ETF (QQH) 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.
| QQH | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.34 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 3.99 | -2.40 |
| Martin ratioReturn relative to average drawdown | 4.09 | 9.54 | -5.45 |
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Drawdowns
QQH vs. TPYP - Drawdown Comparison
The maximum QQH drawdown since its inception was -41.87%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for QQH and TPYP.
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Drawdown Indicators
| QQH | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -51.91% | +10.04% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -6.84% | -9.34% |
Max Drawdown (3Y)Largest decline over 3 years | -24.84% | -13.17% | -11.67% |
Max Drawdown (5Y)Largest decline over 5 years | -41.87% | -17.96% | -23.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.91% | — |
Current DrawdownCurrent decline from peak | -4.49% | -2.96% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -12.83% | -7.86% | -4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.25% | 2.85% | +3.40% |
Volatility
QQH vs. TPYP - Volatility Comparison
HCM Defender 100 Index ETF (QQH) has a higher volatility of 10.81% compared to Tortoise North American Pipeline Fund (TPYP) at 5.25%. This indicates that QQH'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.
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Volatility by Period
| QQH | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.81% | 5.25% | +5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 10.78% | +7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.57% | 13.65% | +9.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.13% | 17.43% | +4.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.02% | 21.90% | +3.12% |
QQH vs. TPYP - Expense Ratio Comparison
QQH has a 1.14% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Dividends
QQH vs. TPYP - Dividend Comparison
QQH's dividend yield for the trailing twelve months is around 0.19%, less than TPYP's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 0.19% | 0.21% | 0.24% | 0.27% | 0.00% | 0.00% | 0.00% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% |
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
QQH 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.
QQH has higher volatility (10.81%) compared to TPYP (5.25%). In terms of maximum drawdown, QQH dropped -41.87% vs TPYP's -51.91%.
On 5-year performance, TPYP leads with 18.54% vs 11.77% for QQH. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TPYP has performed better with a 18.54% return vs 11.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TPYP is cheaper with a 0.40% expense ratio, compared with 1.14% for QQH.
TPYP has the higher dividend yield at 3.21%, compared with 0.19% for QQH.
QQH is categorized as Technology Equities, while TPYP is Energy Equities. QQH tracks HCM Defender 100 Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: Howard Capital Management and Tortoise. Their fees differ too: 1.14% for QQH and 0.40% for TPYP.
TPYP currently has the higher Sharpe Ratio (2.00 vs 1.09), 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.
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