TBLU vs. TPZ
TBLU (Tortoise Global Water Fund) and TPZ (Tortoise Electrification Infrastructure ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while TPZ is a Energy Equities fund actively managed by Tortoise. TBLU is passively managed, while TPZ is actively managed. Over the past 5 years, TBLU returned 4.43%/yr vs 17.99%/yr for TPZ. At a 0.34 correlation, their price movements are largely independent. TBLU charges 0.40%/yr vs 0.85%/yr for TPZ.
Performance
TBLU vs. TPZ - Performance Comparison
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Returns By Period
In the year-to-date period, TBLU achieves a 1.99% return, which is significantly lower than TPZ's 10.26% return.
TBLU
- 1D
- -0.37%
- 1M
- 2.24%
- 6M
- -2.46%
- YTD
- 1.99%
- 1Y
- 0.83%
- 3Y*
- 9.28%
- 5Y*
- 4.43%
- 10Y*
- —
TPZ
- 1D
- -0.81%
- 1M
- 2.31%
- 6M
- 8.81%
- YTD
- 10.26%
- 1Y
- 12.99%
- 3Y*
- 25.29%
- 5Y*
- 17.99%
- 10Y*
- 8.71%
TBLU vs. TPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBLU Tortoise Global Water Fund | 1.99% | 11.82% | 8.54% | 20.95% | -25.99% | 28.93% | 15.74% | 38.72% | -12.80% | 20.81% |
TPZ Tortoise Electrification Infrastructure ETF | 10.26% | 5.67% | 53.88% | 20.72% | 2.44% | 29.31% | -27.84% | 15.61% | -16.12% | -2.86% |
Correlation
The correlation between TBLU and TPZ is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.34 |
The correlation between TBLU and TPZ shifts across timeframes, from 0.23 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TBLU vs. TPZ — Risk / Return Rank
TBLU
TPZ
TBLU vs. TPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) and Tortoise Electrification Infrastructure ETF (TPZ). 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 | TPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.17 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 2.07 | -2.01 |
| Martin ratioReturn relative to average drawdown | 0.13 | 4.58 | -4.45 |
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Drawdowns
TBLU vs. TPZ - Drawdown Comparison
The maximum TBLU drawdown since its inception was -37.58%, smaller than the maximum TPZ drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for TBLU and TPZ.
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Drawdown Indicators
| TBLU | TPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -78.17% | +40.59% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -6.29% | -6.88% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -17.78% | +2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | -17.78% | -17.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.04% | — |
Current DrawdownCurrent decline from peak | -8.06% | -2.62% | -5.44% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -11.88% | +3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.28% | 2.84% | +3.44% |
Volatility
TBLU vs. TPZ - Volatility Comparison
Tortoise Global Water Fund (TBLU) and Tortoise Electrification Infrastructure ETF (TPZ) have volatilities of 4.10% and 3.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBLU | TPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 3.93% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 10.82% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.84% | 13.79% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 17.69% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 27.70% | -8.78% |
TBLU vs. TPZ - Expense Ratio Comparison
TBLU has a 0.40% expense ratio, which is lower than TPZ's 0.85% expense ratio.
Dividends
TBLU vs. TPZ - Dividend Comparison
TBLU's dividend yield for the trailing twelve months is around 3.47%, less than TPZ's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBLU Tortoise Global Water Fund | 3.47% | 3.31% | 1.34% | 1.46% | 1.64% | 1.55% | 1.42% | 1.58% | 1.35% | 1.32% | 0.00% | 0.00% |
TPZ Tortoise Electrification Infrastructure ETF | 3.69% | 3.99% | 5.88% | 8.99% | 9.52% | 4.77% | 8.80% | 8.84% | 9.41% | 7.28% | 6.88% | 9.68% |
Frequently Asked Questions
TBLU and TPZ have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TBLU has higher volatility (4.10%) compared to TPZ (3.93%). In terms of maximum drawdown, TBLU dropped -37.58% vs TPZ's -78.17%.
On 5-year performance, TPZ leads with 17.99% vs 4.43% for TBLU. On fees, TBLU is cheaper at 0.40% per year. On volatility, TPZ has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TPZ has performed better with a 17.99% return vs 4.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBLU is cheaper with a 0.40% expense ratio, compared with 0.85% for TPZ.
TPZ has the higher dividend yield at 3.69%, compared with 3.47% for TBLU.
TBLU is categorized as Water Equities, while TPZ is Energy Equities. Their fees differ too: 0.40% for TBLU and 0.85% for TPZ.
TPZ currently has the higher Sharpe Ratio (0.95 vs 0.06), 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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