TMLP vs. AMLP

Last updated Jul 31, 2026

TMLP (Tortoise MLP ETF) and AMLP (Alerian MLP ETF) are both MLPs funds - TMLP tracks the Tortoise MLP Index while AMLP tracks the Alerian MLP Infrastructure Index. Both are passively managed. Their correlation of 0.94 means they have usually moved in the same direction. TMLP charges 0.50%/yr vs 0.90%/yr for AMLP.

Performance

TMLP vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise MLP ETF (TMLP) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TMLP having a 21.38% return and AMLP slightly lower at 21.27%.

TMLP

• 1D: 0.44%
• 1M: 6.24%
• 6M: 13.76%
• YTD: 21.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AMLP

• 1D: 0.02%
• 1M: 5.75%
• 6M: 13.25%
• YTD: 21.27%
• 1Y: 19.35%
• 3Y*: 18.71%
• 5Y*: 19.28%
• 10Y*: 7.20%
• ALL TIME*: 5.85%

*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)
AMLP Alerian MLP ETF	$58.41M	$57.55M	$73.90M
TMLP Tortoise MLP ETF	$21.22K	$27.25K	$99.38K

TMLP vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025
TMLP Tortoise MLP ETF	21.38%	0.01%
AMLP Alerian MLP ETF	21.27%	0.13%

Correlation

The correlation between TMLP and AMLP is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.94

Return for Risk

TMLP vs. AMLP — Risk / Return Rank

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

TMLP

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

AMLP

AMLP Risk / Return Rank: 65
AMLP Sharpe Ratio Rank: 71
AMLP Sortino Ratio Rank: 70
AMLP Omega Ratio Rank: 67
AMLP Calmar Ratio Rank: 65
AMLP Martin Ratio Rank: 55

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.

TMLP vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP ETF (TMLP) and Alerian MLP ETF (AMLP). 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.

	TMLP	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.55	—
Sortino ratio: Return per unit of downside risk	—	2.18	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.17	—
Martin ratio: Return relative to average drawdown	—	6.06	—

Drawdowns

TMLP vs. AMLP - Drawdown Comparison

The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for TMLP and AMLP.

Drawdown Indicators

	TMLP	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-8.55%	-77.19%	+68.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.92%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-72.62%	—
Current Drawdown Current decline from peak	-0.76%	-0.29%	-0.47%
Average Drawdown Average peak-to-trough decline	-2.17%	-17.27%	+15.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.20%	—

Volatility

Volatility by Period

	TMLP	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	12.52%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	19.38%	-5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	27.65%	-13.41%

TMLP vs. AMLP - Expense Ratio Comparison

TMLP has a 0.50% expense ratio, which is lower than AMLP's 0.90% expense ratio.

Dividends

TMLP vs. AMLP - Dividend Comparison

TMLP's dividend yield for the trailing twelve months is around 3.69%, less than AMLP's 7.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.33%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
TMLP Tortoise MLP ETF	3.69%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMLP and AMLP in my portfolio?

With a correlation of 0.94, TMLP and AMLP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TMLP or AMLP?

On fees, TMLP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMLP or AMLP?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.90% for AMLP.

Which ETF pays a higher dividend yield, TMLP or AMLP?

AMLP has the higher dividend yield at 7.33%, compared with 3.69% for TMLP.

What is the main difference between TMLP and AMLP?

TMLP tracks Tortoise MLP Index, while AMLP tracks Alerian MLP Infrastructure Index. They also come from different issuers: Tortoise and SS&C. Their fees differ too: 0.50% for TMLP and 0.90% for AMLP.