TMLP vs. MLPB
TMLP (Tortoise MLP ETF) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both exchange-traded funds - TMLP is a MLPs fund tracking the Tortoise MLP Index, while MLPB is a Infrastructure Equities fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. Their correlation of 0.92 means they have usually moved in the same direction. TMLP charges 0.50%/yr vs 0.85%/yr for MLPB.
Performance
TMLP vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, TMLP achieves a 21.38% return, which is significantly lower than MLPB's 25.17% return.
TMLP
- 1D
- 0.44%
- 1M
- 6.24%
- 6M
- 13.76%
- YTD
- 21.38%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MLPB
- 1D
- -0.21%
- 1M
- 6.49%
- 6M
- 15.35%
- YTD
- 25.17%
- 1Y
- 23.03%
- 3Y*
- 21.16%
- 5Y*
- 21.90%
- 10Y*
- 8.76%
- ALL TIME*
- 7.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $78.43K | $107.16K | $132.30K | |
TMLP Tortoise MLP ETF | $21.22K | $27.25K | $99.38K |
TMLP vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TMLP Tortoise MLP ETF | 21.38% | 0.01% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 25.17% | 0.33% |
Correlation
The correlation between TMLP and MLPB is 0.92, 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 | 0.92 |
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Return for Risk
TMLP vs. MLPB — Risk / Return Rank
TMLP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MLPB
TMLP vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP ETF (TMLP) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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 | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.28 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.39 | — |
| Martin ratioReturn relative to average drawdown | — | 6.21 | — |
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Drawdowns
TMLP vs. MLPB - Drawdown Comparison
The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for TMLP and MLPB.
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Drawdown Indicators
| TMLP | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.55% | -71.93% | +63.38% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.68% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.93% | — |
Current DrawdownCurrent decline from peak | -0.76% | -0.92% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -14.67% | +12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.72% | — |
Volatility
TMLP vs. MLPB - Volatility Comparison
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Volatility by Period
| TMLP | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.65% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.24% | 14.13% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 19.62% | -5.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.24% | 27.19% | -12.95% |
TMLP vs. MLPB - Expense Ratio Comparison
TMLP has a 0.50% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
TMLP vs. MLPB - Dividend Comparison
TMLP's dividend yield for the trailing twelve months is around 3.69%, less than MLPB's 5.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.76% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
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% |
Frequently Asked Questions
With a correlation of 0.92, TMLP and MLPB 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.
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 0.85% for MLPB.
MLPB has the higher dividend yield at 5.76%, compared with 3.69% for TMLP.
TMLP is categorized as MLPs, while MLPB is Infrastructure Equities. TMLP tracks Tortoise MLP Index, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: Tortoise and UBS. Their fees differ too: 0.50% for TMLP and 0.85% for MLPB.
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