TBLU vs. TNGY

Last updated Aug 5, 2026

TBLU (Tortoise Global Water Fund) and TNGY (Tortoise Energy Fund) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while TNGY is a Energy Equities fund actively managed by Tortoise. TBLU is passively managed, while TNGY is actively managed. Over the past year, TBLU returned 2.81% vs 18.91% for TNGY. Their -0.10 correlation means they have often moved in opposite directions in the past. TBLU charges 0.40%/yr vs 0.85%/yr for TNGY.

Performance

TBLU vs. TNGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Global Water Fund (TBLU) 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, TBLU achieves a 4.97% return, which is significantly lower than TNGY's 17.05% return.

TBLU

• 1D: 1.93%
• 1M: 1.77%
• 6M: -1.46%
• YTD: 4.97%
• 1Y: 2.81%
• 3Y*: 10.79%
• 5Y*: 3.96%
• 10Y*: —
• ALL TIME*: 10.11%

TNGY

• 1D: -0.29%
• 1M: 7.04%
• 6M: 11.39%
• YTD: 17.05%
• 1Y: 18.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.50%

*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)
TBLU Tortoise Global Water Fund	$70.51K	$63.53K	$112.51K
TNGY Tortoise Energy Fund	$470.04K	$644.14K	$594.43K

TBLU vs. TNGY - Yearly Performance Comparison

	2026 (YTD)	2025
TBLU Tortoise Global Water Fund	4.97%	0.80%
TNGY Tortoise Energy Fund	17.05%	-2.37%

Correlation

The correlation between TBLU and TNGY is -0.11, 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.	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025	-0.10

Return for Risk

TBLU vs. TNGY — Risk / Return Rank

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

TBLU

TBLU Risk / Return Rank: 13
TBLU Sharpe Ratio Rank: 14
TBLU Sortino Ratio Rank: 13
TBLU Omega Ratio Rank: 13
TBLU Calmar Ratio Rank: 13
TBLU Martin Ratio Rank: 13

TNGY

TNGY Risk / Return Rank: 41
TNGY Sharpe Ratio Rank: 40
TNGY Sortino Ratio Rank: 38
TNGY Omega Ratio Rank: 37
TNGY Calmar Ratio Rank: 47
TNGY Martin Ratio Rank: 42

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.

TBLU vs. TNGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) 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.

	TBLU	TNGY	Difference
Sharpe ratio: Return per unit of total volatility	0.18	1.14	-0.96
Sortino ratio: Return per unit of downside risk	0.37	1.60	-1.23
Omega ratio: Gain probability vs. loss probability	1.04	1.20	-0.15
Calmar ratio: Return relative to maximum drawdown	0.21	1.94	-1.72
Martin ratio: Return relative to average drawdown	0.43	5.12	-4.69

TBLU vs. TNGY - Sharpe Ratio Comparison

The current TBLU Sharpe Ratio is 0.18, which is lower than the TNGY Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of TBLU 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

TBLU vs. TNGY - Drawdown Comparison

The maximum TBLU drawdown since its inception was -37.58%, which is greater than TNGY's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for TBLU and TNGY.

Drawdown Indicators

	TBLU	TNGY	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-9.79%	-27.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-9.79%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	—	—
Current Drawdown Current decline from peak	-5.37%	-2.82%	-2.55%
Average Drawdown Average peak-to-trough decline	-8.15%	-3.68%	-4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	3.73%	+2.82%

Volatility

TBLU vs. TNGY - Volatility Comparison

The current volatility for Tortoise Global Water Fund (TBLU) is 4.96%, while Tortoise Energy Fund (TNGY) has a volatility of 6.12%. This indicates that TBLU experiences smaller price fluctuations and is considered to be less risky than TNGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBLU	TNGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	6.12%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	12.07%	13.71%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	15.32%	16.66%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	16.72%	+0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	16.72%	+2.19%

TBLU vs. TNGY - Expense Ratio Comparison

TBLU has a 0.40% expense ratio, which is lower than TNGY's 0.85% expense ratio.

Dividends

TBLU vs. TNGY - Dividend Comparison

TBLU's dividend yield for the trailing twelve months is around 3.37%, less than TNGY's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBLU Tortoise Global Water Fund	3.37%	3.31%	1.34%	1.46%	1.64%	1.55%	1.42%	1.58%	1.35%	1.32%
TNGY Tortoise Energy Fund	4.53%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TBLU and TNGY in my portfolio?

TBLU and TNGY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBLU or TNGY?

TNGY has higher volatility (6.12%) compared to TBLU (4.96%). In terms of maximum drawdown, TBLU dropped -37.58% vs TNGY's -9.79%.

Which ETF is better, TBLU or TNGY?

On 1-year performance, TNGY leads with 18.91% vs 2.81% for TBLU. On fees, TBLU is cheaper at 0.40% per year. On volatility, TBLU has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TBLU or TNGY?

Over the 1-year period, TNGY has performed better with a 18.91% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TBLU or TNGY?

TBLU is cheaper with a 0.40% expense ratio, compared with 0.85% for TNGY.

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

TNGY has the higher dividend yield at 4.53%, compared with 3.37% for TBLU.

What is the main difference between TBLU and TNGY?

TBLU is categorized as Water Equities, while TNGY is Energy Equities. Their fees differ too: 0.40% for TBLU and 0.85% for TNGY.

Which has better risk-adjusted returns?

TNGY currently has the higher Sharpe Ratio (1.14 vs 0.18), 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.