TMLP vs. MLPA

Last updated Jul 10, 2026

TMLP (Tortoise MLP ETF) and MLPA (Global X MLP ETF) are both MLPs funds - TMLP tracks the Tortoise MLP Index while MLPA tracks the Solactive MLP Infrastructure Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. TMLP charges 0.50%/yr vs 0.77%/yr for MLPA.

Performance

TMLP vs. MLPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise MLP ETF (TMLP) and Global X MLP ETF (MLPA). 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 16.89% return and MLPA slightly lower at 16.87%.

TMLP

• 1D: -0.85%
• 1M: 0.12%
• 6M: 16.69%
• YTD: 16.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPA

• 1D: -0.71%
• 1M: 1.42%
• 6M: 15.72%
• YTD: 16.87%
• 1Y: 17.24%
• 3Y*: 16.55%
• 5Y*: 15.69%
• 10Y*: 6.17%

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

TMLP vs. MLPA - Yearly Performance Comparison

	2026 (YTD)	2025
TMLP Tortoise MLP ETF	16.89%	0.01%
MLPA Global X MLP ETF	16.87%	-0.04%

Correlation

The correlation between TMLP and MLPA is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.93

Return for Risk

TMLP vs. MLPA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

MLPA

MLPA Risk / Return Rank: 48
MLPA Sharpe Ratio Rank: 50
MLPA Sortino Ratio Rank: 49
MLPA Omega Ratio Rank: 45
MLPA Calmar Ratio Rank: 52
MLPA Martin Ratio Rank: 42

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.

TMLP vs. MLPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP ETF (TMLP) and Global X MLP ETF (MLPA). 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	MLPA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.40	—
Sortino ratio: Return per unit of downside risk	—	1.99	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	2.08	—
Martin ratio: Return relative to average drawdown	—	5.47	—

Drawdowns

TMLP vs. MLPA - Drawdown Comparison

The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum MLPA drawdown of -78.75%. Use the drawdown chart below to compare losses from any high point for TMLP and MLPA.

Drawdown Indicators

	TMLP	MLPA	Difference
Max Drawdown Largest peak-to-trough decline	-8.55%	-78.75%	+70.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-74.05%	—
Current Drawdown Current decline from peak	-4.44%	-3.18%	-1.26%
Average Drawdown Average peak-to-trough decline	-2.15%	-20.17%	+18.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.16%	—

Volatility

Volatility by Period

	TMLP	MLPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	12.37%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	18.02%	-3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	27.41%	-13.19%

TMLP vs. MLPA - Expense Ratio Comparison

TMLP has a 0.50% expense ratio, which is lower than MLPA's 0.77% expense ratio.

Dividends

TMLP vs. MLPA - Dividend Comparison

TMLP's dividend yield for the trailing twelve months is around 3.83%, less than MLPA's 7.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPA Global X MLP ETF	7.23%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%
TMLP Tortoise MLP ETF	3.83%	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 MLPA in my portfolio?

With a correlation of 0.93, TMLP and MLPA 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 MLPA?

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 MLPA?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.77% for MLPA.

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

MLPA has the higher dividend yield at 7.23%, compared with 3.83% for TMLP.

What is the main difference between TMLP and MLPA?

TMLP tracks Tortoise MLP Index, while MLPA tracks Solactive MLP Infrastructure Index. They also come from different issuers: Tortoise and Global X. Their fees differ too: 0.50% for TMLP and 0.77% for MLPA.