SPTE vs. TPYP

Last updated Jul 12, 2026

SPTE (SP Funds S&P Global Technology ETF) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - SPTE is a Technology Equities fund tracking the S&P Global 1200 Shariah Information Technology Capped Index, while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past year, SPTE returned 52.71% vs 26.53% for TPYP. At a 0.07 correlation, their price movements are largely independent. SPTE charges 0.55%/yr vs 0.40%/yr for TPYP.

Performance

SPTE vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P Global Technology ETF (SPTE) 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, SPTE achieves a 35.50% return, which is significantly higher than TPYP's 22.99% return.

SPTE

• 1D: 0.57%
• 1M: 0.75%
• 6M: 31.29%
• YTD: 35.50%
• 1Y: 52.71%
• 3Y*: —
• 5Y*: —
• 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%

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

SPTE vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPTE SP Funds S&P Global Technology ETF	35.50%	26.37%	33.28%	5.52%
TPYP Tortoise North American Pipeline Fund	22.99%	7.59%	37.37%	0.18%

Correlation

The correlation between SPTE 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 (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Dec 1, 2023	0.07

The correlation between SPTE and TPYP shifts across timeframes, from -0.18 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

SPTE vs. TPYP - Sectors Allocation Comparison

Sectors	SPTE	TPYP
Technology	98.6%	-
Healthcare	0.3%	-
Industrials	0.2%	0.1%
Energy	0.1%	68.7%
Basic Materials	-	0.1%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	2.4%
Real Estate	-	-
Utilities	-	22.0%

Return for Risk

SPTE vs. TPYP — Risk / Return Rank

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

SPTE

SPTE Risk / Return Rank: 79
SPTE Sharpe Ratio Rank: 82
SPTE Sortino Ratio Rank: 72
SPTE Omega Ratio Rank: 73
SPTE Calmar Ratio Rank: 86
SPTE Martin Ratio Rank: 81

TPYP

TPYP Risk / Return Rank: 77
TPYP Sharpe Ratio Rank: 79
TPYP Sortino Ratio Rank: 80
TPYP Omega Ratio Rank: 72
TPYP Calmar Ratio Rank: 87
TPYP Martin Ratio Rank: 66

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.

SPTE vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P Global Technology ETF (SPTE) 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.

	SPTE	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.00	+0.07
Sortino ratio: Return per unit of downside risk	2.61	2.83	-0.22
Omega ratio: Gain probability vs. loss probability	1.34	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	3.84	3.99	-0.14
Martin ratio: Return relative to average drawdown	12.44	9.54	+2.90

SPTE vs. TPYP - Sharpe Ratio Comparison

The current SPTE Sharpe Ratio is 2.07, which is comparable to the TPYP Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of SPTE 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

SPTE vs. TPYP - Drawdown Comparison

The maximum SPTE drawdown since its inception was -25.55%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for SPTE and TPYP.

Drawdown Indicators

	SPTE	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-25.55%	-51.91%	+26.36%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-6.84%	-6.96%
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 Drawdown Current decline from peak	-5.59%	-2.96%	-2.63%
Average Drawdown Average peak-to-trough decline	-4.13%	-7.86%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	2.85%	+1.40%

Volatility

SPTE vs. TPYP - Volatility Comparison

SP Funds S&P Global Technology ETF (SPTE) has a higher volatility of 12.21% compared to Tortoise North American Pipeline Fund (TPYP) at 5.25%. This indicates that SPTE'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

	SPTE	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.21%	5.25%	+6.96%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	10.78%	+11.48%
Volatility (1Y) Calculated over the trailing 1-year period	25.65%	13.65%	+12.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.79%	17.43%	+9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.79%	21.90%	+4.89%

SPTE vs. TPYP - Expense Ratio Comparison

SPTE has a 0.55% expense ratio, which is higher than TPYP's 0.40% expense ratio.

Dividends

SPTE vs. TPYP - Dividend Comparison

SPTE's dividend yield for the trailing twelve months is around 0.71%, less than TPYP's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPTE SP Funds S&P Global Technology ETF	0.71%	0.96%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPYP Tortoise North American Pipeline Fund	3.21%	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

Can I hold both SPTE and TPYP in my portfolio?

SPTE 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.

Which is riskier, SPTE or TPYP?

SPTE has higher volatility (12.21%) compared to TPYP (5.25%). In terms of maximum drawdown, SPTE dropped -25.55% vs TPYP's -51.91%.

Which ETF is better, SPTE or TPYP?

On 1-year performance, SPTE leads with 52.71% vs 26.53% for TPYP. 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.

Which ETF has performed better, SPTE or TPYP?

Over the 1-year period, SPTE has performed better with a 52.71% return vs 26.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTE or TPYP?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.55% for SPTE.

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

TPYP has the higher dividend yield at 3.21%, compared with 0.71% for SPTE.

What is the main difference between SPTE and TPYP?

SPTE is categorized as Technology Equities, while TPYP is Energy Equities. SPTE tracks S&P Global 1200 Shariah Information Technology Capped Index, while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: SP Funds and Tortoise. Their fees differ too: 0.55% for SPTE and 0.40% for TPYP.

Which has better risk-adjusted returns?

SPTE currently has the higher Sharpe Ratio (2.07 vs 2.00), 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.