RSPG vs. TPYP

Last updated Aug 6, 2026

RSPG (Invesco S&P 500 Equal Weight Energy ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - RSPG is a Energy Equities fund tracking the S&P 500 Equal Weight Energy Plus Index, while TPYP is a MLPs fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past 10 years, RSPG returned 9.12%/yr vs 11.32%/yr for TPYP. Their 0.76 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.40% expense ratio.

Performance

RSPG vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Energy ETF (RSPG) and Tortoise North American Pipeline Fund (TPYP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPG achieves a 30.15% return, which is significantly higher than TPYP's 20.31% return. Over the past 10 years, RSPG has underperformed TPYP with an annualized return of 9.12%, while TPYP has yielded a comparatively higher 11.32% annualized return.

RSPG

• 1D: -2.28%
• 1M: 5.39%
• 6M: 12.25%
• YTD: 30.15%
• 1Y: 40.31%
• 3Y*: 13.53%
• 5Y*: 23.74%
• 10Y*: 9.12%
• ALL TIME*: 5.87%

TPYP

• 1D: -1.47%
• 1M: 0.33%
• 6M: 10.96%
• YTD: 20.31%
• 1Y: 22.13%
• 3Y*: 23.42%
• 5Y*: 18.93%
• 10Y*: 11.32%
• ALL TIME*: 9.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RSPG Invesco S&P 500 Equal Weight Energy ETF	$11.07M	$9.81M	$10.92M
TPYP Tortoise North American Pipeline Fund	$2.68M	$2.32M	$2.66M

RSPG vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPG Invesco S&P 500 Equal Weight Energy ETF	30.15%	7.01%	6.09%	4.49%	57.97%	57.73%	-32.44%	13.38%	-24.68%	-6.39%
TPYP Tortoise North American Pipeline Fund	20.31%	7.59%	37.37%	10.51%	16.09%	34.97%	-20.99%	23.35%	-11.13%	2.27%

Correlation

The correlation between RSPG and TPYP is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015	0.76

The correlation between RSPG and TPYP has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

RSPG vs. TPYP - Sectors Allocation Comparison

Sectors	RSPG	TPYP
Energy	100.0%	69.6%
Financial Services	0.0%	2.4%
Basic Materials	-	0.1%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	-
Utilities	-	21.2%

Return for Risk

RSPG vs. TPYP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RSPG

RSPG Risk / Return Rank: 64
RSPG Sharpe Ratio Rank: 70
RSPG Sortino Ratio Rank: 62
RSPG Omega Ratio Rank: 59
RSPG Calmar Ratio Rank: 74
RSPG Martin Ratio Rank: 56

TPYP

TPYP Risk / Return Rank: 61
TPYP Sharpe Ratio Rank: 58
TPYP Sortino Ratio Rank: 58
TPYP Omega Ratio Rank: 52
TPYP Calmar Ratio Rank: 80
TPYP Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RSPG vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Energy ETF (RSPG) 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.

	RSPG	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.60	+0.24
Sortino ratio: Return per unit of downside risk	2.38	2.26	+0.12
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.95	3.25	-0.30
Martin ratio: Return relative to average drawdown	7.42	7.64	-0.21

RSPG vs. TPYP - Sharpe Ratio Comparison

The current RSPG Sharpe Ratio is 1.83, which is comparable to the TPYP Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of RSPG and TPYP, 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

RSPG vs. TPYP - Drawdown Comparison

The maximum RSPG drawdown since its inception was -79.98%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for RSPG and TPYP.

Drawdown Indicators

	RSPG	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-79.98%	-51.91%	-28.07%
Max Drawdown (1Y) Largest decline over 1 year	-13.72%	-6.84%	-6.88%
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	-13.17%	-9.89%
Max Drawdown (5Y) Largest decline over 5 years	-28.44%	-17.96%	-10.48%
Max Drawdown (10Y) Largest decline over 10 years	-73.17%	-51.91%	-21.26%
Current Drawdown Current decline from peak	-8.56%	-5.54%	-3.02%
Average Drawdown Average peak-to-trough decline	-25.32%	-7.82%	-17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	2.91%	+2.54%

Volatility

RSPG vs. TPYP - Volatility Comparison

Invesco S&P 500 Equal Weight Energy ETF (RSPG) has a higher volatility of 6.57% compared to Tortoise North American Pipeline Fund (TPYP) at 4.74%. This indicates that RSPG'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.

Volatility by Period

	RSPG	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	4.74%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	16.85%	11.18%	+5.67%
Volatility (1Y) Calculated over the trailing 1-year period	22.09%	13.98%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.89%	17.41%	+10.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.44%	21.90%	+11.54%

RSPG vs. TPYP - Expense Ratio Comparison

Both RSPG and TPYP have an expense ratio of 0.40%.

Dividends

RSPG vs. TPYP - Dividend Comparison

RSPG's dividend yield for the trailing twelve months is around 2.04%, less than TPYP's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPG Invesco S&P 500 Equal Weight Energy ETF	2.04%	2.60%	2.43%	2.84%	3.43%	2.37%	3.15%	2.15%	2.18%	2.55%	1.14%	2.80%
TPYP Tortoise North American Pipeline Fund	3.28%	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

Can I hold both RSPG and TPYP in my portfolio?

RSPG and TPYP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPG or TPYP?

RSPG has higher volatility (6.57%) compared to TPYP (4.74%). In terms of maximum drawdown, RSPG dropped -79.98% vs TPYP's -51.91%.

Which ETF is better, RSPG or TPYP?

On 10-year performance, TPYP leads with 11.32% vs 9.12% for RSPG. Both ETFs have the same 0.40% expense ratio. On volatility, TPYP has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPG or TPYP?

Over the 10-year period, TPYP has performed better with a 11.32% return vs 9.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPG or TPYP?

RSPG and TPYP have the same expense ratio: 0.40% per year.

Which ETF pays a higher dividend yield, RSPG or TPYP?

TPYP has the higher dividend yield at 3.28%, compared with 2.04% for RSPG.

What is the main difference between RSPG and TPYP?

RSPG is categorized as Energy Equities, while TPYP is MLPs. RSPG tracks S&P 500 Equal Weight Energy Plus Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: Invesco and Tortoise.

Which has better risk-adjusted returns?

RSPG currently has the higher Sharpe Ratio (1.83 vs 1.60), 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.