TEXX vs. TPZ
TEXX (Horizon Kinetics Texas ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both exchange-traded funds - TEXX is a Energy Equities fund actively managed by Horizon Kinetics, while TPZ is a Infrastructure Equities fund actively managed by Tortoise. Both are actively managed. Their 0.51 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.85% expense ratio.
Performance
TEXX vs. TPZ - Performance Comparison
Loading charts...
Returns By Period
TEXX
- 1D
- 0.82%
- 1M
- 5.41%
- 6M
- 15.40%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TPZ
- 1D
- 0.12%
- 1M
- -0.93%
- 6M
- 4.63%
- YTD
- 7.51%
- 1Y
- 5.93%
- 3Y*
- 22.92%
- 5Y*
- 18.47%
- 10Y*
- 8.57%
- ALL TIME*
- 7.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.12K | $29.15K | $28.51K | |
| $261.36K | $222.18K | $227.90K |
TEXX vs. TPZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TEXX Horizon Kinetics Texas ETF | 15.81% |
TPZ Tortoise Electrification Infrastructure ETF | 6.46% |
Correlation
The correlation between TEXX and TPZ is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026 | 0.51 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TEXX vs. TPZ — Risk / Return Rank
TEXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TPZ
TEXX vs. TPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) 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.
| TEXX | TPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.08 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.87 | — |
| Martin ratioReturn relative to average drawdown | — | 1.95 | — |
Loading charts...
Drawdowns
TEXX vs. TPZ - Drawdown Comparison
The maximum TEXX drawdown since its inception was -5.86%, smaller than the maximum TPZ drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for TEXX and TPZ.
Loading charts...
Drawdown Indicators
| TEXX | TPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.86% | -78.17% | +72.31% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.63% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.78% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.04% | — |
Current DrawdownCurrent decline from peak | -1.11% | -5.04% | +3.93% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -11.86% | +9.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.95% | — |
Volatility
TEXX vs. TPZ - Volatility Comparison
Loading charts...
Volatility by Period
| TEXX | TPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.87% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.11% | 14.16% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 17.67% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.11% | 27.72% | -11.61% |
TEXX vs. TPZ - Expense Ratio Comparison
Both TEXX and TPZ have an expense ratio of 0.85%.
Dividends
TEXX vs. TPZ - Dividend Comparison
TEXX has not paid dividends to shareholders, while TPZ's dividend yield for the trailing twelve months is around 3.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TEXX Horizon Kinetics Texas ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPZ Tortoise Electrification Infrastructure ETF | 3.47% | 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
TEXX and TPZ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TEXX and TPZ have the same expense ratio: 0.85% per year.
TPZ has the higher dividend yield at 3.47%, compared with 0.00% for TEXX.
TEXX is categorized as Energy Equities, while TPZ is Infrastructure Equities. They also come from different issuers: Horizon Kinetics and Tortoise.
Find the right allocation for TEXX and TPZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer