TMLP vs. EMLP
TMLP (Tortoise MLP ETF) and EMLP (First Trust North American Energy Infrastructure Fund) are both exchange-traded funds - TMLP is a MLPs fund tracking the Tortoise MLP Index, while EMLP is a Infrastructure Equities fund actively managed by First Trust. TMLP is passively managed, while EMLP is actively managed. Their 0.68 correlation means they have sometimes moved together and sometimes differently. TMLP charges 0.50%/yr vs 0.96%/yr for EMLP.
Performance
TMLP vs. EMLP - Performance Comparison
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Returns By Period
In the year-to-date period, TMLP achieves a 21.38% return, which is significantly higher than EMLP's 17.32% return.
TMLP
- 1D
- 0.44%
- 1M
- 6.24%
- 6M
- 13.76%
- YTD
- 21.38%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
EMLP
- 1D
- -0.25%
- 1M
- 0.71%
- 6M
- 10.46%
- YTD
- 17.32%
- 1Y
- 18.50%
- 3Y*
- 20.06%
- 5Y*
- 16.47%
- 10Y*
- 10.11%
- ALL TIME*
- 9.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.20M | $10.69M | $12.15M | |
TMLP Tortoise MLP ETF | $21.22K | $27.25K | $99.38K |
TMLP vs. EMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TMLP Tortoise MLP ETF | 21.38% | 0.01% |
EMLP First Trust North American Energy Infrastructure Fund | 17.32% | 0.45% |
Correlation
The correlation between TMLP and EMLP is 0.68, 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 Dec 23, 2025 | 0.68 |
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Return for Risk
TMLP vs. EMLP — Risk / Return Rank
TMLP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EMLP
TMLP vs. EMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP ETF (TMLP) and First Trust North American Energy Infrastructure Fund (EMLP). 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 | EMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.76 | — |
| Martin ratioReturn relative to average drawdown | — | 10.67 | — |
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Drawdowns
TMLP vs. EMLP - Drawdown Comparison
The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum EMLP drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for TMLP and EMLP.
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Drawdown Indicators
| TMLP | EMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.55% | -43.61% | +35.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.94% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.61% | — |
Current DrawdownCurrent decline from peak | -0.76% | -2.30% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -5.71% | +3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.74% | — |
Volatility
TMLP vs. EMLP - Volatility Comparison
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Volatility by Period
| TMLP | EMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.97% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.49% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.24% | 10.36% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 14.49% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.24% | 17.68% | -3.44% |
TMLP vs. EMLP - Expense Ratio Comparison
TMLP has a 0.50% expense ratio, which is lower than EMLP's 0.96% expense ratio.
Dividends
TMLP vs. EMLP - Dividend Comparison
TMLP's dividend yield for the trailing twelve months is around 3.69%, more than EMLP's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 2.77% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
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
TMLP and EMLP have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TMLP is cheaper with a 0.50% expense ratio, compared with 0.96% for EMLP.
TMLP has the higher dividend yield at 3.69%, compared with 2.77% for EMLP.
TMLP is categorized as MLPs, while EMLP is Infrastructure Equities. They also come from different issuers: Tortoise and First Trust. Their fees differ too: 0.50% for TMLP and 0.96% for EMLP.
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