TCAI vs. TPYP

Last updated Apr 1, 2026

Compare and contrast key facts about Tortoise AI Infrastructure ETF (TCAI) and Tortoise North American Pipeline Fund (TPYP).

TCAI and TPYP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCAI is an actively managed fund by Tortoise. It was launched on Aug 4, 2025. TPYP is a passively managed fund by Tortoise that tracks the performance of the Tortoise North American Pipeline Index. It was launched on Jun 30, 2015.

Performance

TCAI vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise AI Infrastructure ETF (TCAI) and Tortoise North American Pipeline Fund (TPYP). The values are adjusted to include any dividend payments, if applicable.

TCAI vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	16.67%	17.77%
TPYP Tortoise North American Pipeline Fund	20.98%	1.51%

Returns By Period

In the year-to-date period, TCAI achieves a 16.67% return, which is significantly lower than TPYP's 20.98% return.

TCAI

• 1D: 4.49%
• 1M: -6.61%
• YTD: 16.67%
• 6M: 16.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TPYP

• 1D: -1.05%
• 1M: 2.89%
• YTD: 20.98%
• 6M: 18.25%
• 1Y: 20.82%
• 3Y*: 25.55%
• 5Y*: 21.03%
• 10Y*: 13.45%

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

TCAI vs. TPYP - Expense Ratio Comparison

TCAI has a 0.65% expense ratio, which is higher than TPYP's 0.40% expense ratio.

TCAI

Tortoise AI Infrastructure ETF

TPYP

Tortoise North American Pipeline Fund

Return for Risk

TCAI vs. TPYP — Risk / Return Rank

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

TPYP

TPYP Risk / Return Rank: 67
TPYP Sharpe Ratio Rank: 73
TPYP Sortino Ratio Rank: 66
TPYP Omega Ratio Rank: 70
TPYP Calmar Ratio Rank: 66
TPYP Martin Ratio Rank: 59

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.

TCAI vs. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise AI Infrastructure ETF (TCAI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TCAI	TPYP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	0.44	+1.37

Correlation

The correlation between TCAI and TPYP is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TCAI vs. TPYP - Dividend Comparison

TCAI's dividend yield for the trailing twelve months is around 0.04%, less than TPYP's 3.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCAI Tortoise AI Infrastructure ETF	0.04%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPYP Tortoise North American Pipeline Fund	3.23%	3.91%	3.95%	4.83%	4.48%	4.86%	6.14%	4.45%	4.58%	3.71%	3.49%	2.56%

Drawdowns

TCAI vs. TPYP - Drawdown Comparison

The maximum TCAI drawdown since its inception was -15.80%, smaller than the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for TCAI and TPYP.

Drawdown Indicators

	TCAI	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-15.80%	-51.91%	+36.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-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	-8.07%	-1.65%	-6.42%
Average Drawdown Average peak-to-trough decline	-3.97%	-7.97%	+4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.77%	—

Volatility

Volatility by Period

	TCAI	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.03%	16.59%	+18.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.03%	17.32%	+17.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.03%	21.96%	+13.07%