QQQY vs. TPYP
QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. QQQY is actively managed, while TPYP is passively managed. Over the past year, QQQY returned 25.95% vs 22.39% for TPYP. Their 0.11 correlation means their historical movements had little consistent relationship. QQQY charges 0.99%/yr vs 0.40%/yr for TPYP.
Performance
QQQY vs. TPYP - Performance Comparison
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Returns By Period
In the year-to-date period, QQQY achieves a 17.47% return, which is significantly lower than TPYP's 22.10% return.
QQQY
- 1D
- 3.25%
- 1M
- 1.46%
- 6M
- 17.52%
- YTD
- 17.47%
- 1Y
- 25.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.61%
TPYP
- 1D
- -0.54%
- 1M
- 1.43%
- 6M
- 13.09%
- YTD
- 22.10%
- 1Y
- 22.39%
- 3Y*
- 24.03%
- 5Y*
- 19.36%
- 10Y*
- 11.48%
- ALL TIME*
- 9.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.03M | $2.15M | $2.90M | |
| $2.72M | $2.33M | $2.68M |
QQQY vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 17.47% | 14.96% | 7.70% | 7.19% |
TPYP Tortoise North American Pipeline Fund | 22.10% | 7.59% | 37.37% | 4.92% |
Correlation
The correlation between QQQY and TPYP is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023 | 0.11 |
The correlation between QQQY and TPYP shifts across timeframes, from -0.21 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QQQY vs. TPYP — Risk / Return Rank
QQQY
TPYP
QQQY vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) 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.
| QQQY | TPYP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.29 | -0.95 |
| Martin ratioReturn relative to average drawdown | 8.22 | 7.78 | +0.43 |
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Drawdowns
QQQY vs. TPYP - Drawdown Comparison
The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for QQQY and TPYP.
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Drawdown Indicators
| QQQY | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.05% | -51.91% | +32.86% |
Max Drawdown (1Y)Largest decline over 1 year | -11.14% | -6.84% | -4.30% |
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 | -1.71% | -4.14% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -2.96% | -7.83% | +4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 2.91% | +0.26% |
Volatility
QQQY vs. TPYP - Volatility Comparison
Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a higher volatility of 7.24% compared to Tortoise North American Pipeline Fund (TPYP) at 5.44%. This indicates that QQQY'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
| QQQY | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.24% | 5.44% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 15.55% | 11.23% | +4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.65% | 13.94% | +3.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 17.40% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.86% | 21.90% | -6.04% |
QQQY vs. TPYP - Expense Ratio Comparison
QQQY has a 0.99% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Dividends
QQQY vs. TPYP - Dividend Comparison
QQQY's dividend yield for the trailing twelve months is around 35.76%, more than TPYP's 3.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 35.76% | 45.34% | 83.34% | 20.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.23% | 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
QQQY and TPYP have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQY has higher volatility (7.24%) compared to TPYP (5.44%). In terms of maximum drawdown, QQQY dropped -19.05% vs TPYP's -51.91%.
On 1-year performance, QQQY leads with 25.95% vs 22.39% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQY has performed better with a 25.95% return vs 22.39%. 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 0.99% for QQQY.
QQQY has the higher dividend yield at 35.76%, compared with 3.23% for TPYP.
QQQY is categorized as Nasdaq-100, while TPYP is Energy Equities. They also come from different issuers: Defiance and Tortoise. Their fees differ too: 0.99% for QQQY and 0.40% for TPYP.
TPYP currently has the higher Sharpe Ratio (1.62 vs 1.48), 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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