TMLP vs. TNGY

Last updated Jul 31, 2026

TMLP (Tortoise MLP ETF) and TNGY (Tortoise Energy Fund) are both exchange-traded funds - TMLP is a MLPs fund tracking the Tortoise MLP Index, while TNGY is a Energy Equities fund actively managed by Tortoise. TMLP is passively managed, while TNGY is actively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. TMLP charges 0.50%/yr vs 0.85%/yr for TNGY.

Performance

TMLP vs. TNGY - Performance Comparison

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

Returns By Period

In the year-to-date period, TMLP achieves a 21.38% return, which is significantly higher than TNGY's 16.98% return.

TMLP

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

TNGY

• 1D: 0.81%
• 1M: 6.42%
• 6M: 11.11%
• YTD: 16.98%
• 1Y: 18.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.59%

*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)
TMLP Tortoise MLP ETF	$21.22K	$27.25K	$99.38K
TNGY Tortoise Energy Fund	$603.02K	$675.69K	$656.81K

TMLP vs. TNGY - Yearly Performance Comparison

	2026 (YTD)	2025
TMLP Tortoise MLP ETF	21.38%	0.01%
TNGY Tortoise Energy Fund	16.98%	2.09%

Correlation

The correlation between TMLP and TNGY is 0.71, 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	0.71

Return for Risk

TMLP vs. TNGY — 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.

TNGY

TNGY Risk / Return Rank: 47
TNGY Sharpe Ratio Rank: 47
TNGY Sortino Ratio Rank: 44
TNGY Omega Ratio Rank: 42
TNGY Calmar Ratio Rank: 56
TNGY Martin Ratio Rank: 45

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. TNGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP ETF (TMLP) and Tortoise Energy Fund (TNGY). 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	TNGY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.14	—
Sortino ratio: Return per unit of downside risk	—	1.59	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.93	—
Martin ratio: Return relative to average drawdown	—	5.04	—

Drawdowns

TMLP vs. TNGY - Drawdown Comparison

The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum TNGY drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for TMLP and TNGY.

Drawdown Indicators

	TMLP	TNGY	Difference
Max Drawdown Largest peak-to-trough decline	-8.55%	-9.79%	+1.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.79%	—
Current Drawdown Current decline from peak	-0.76%	-2.89%	+2.13%
Average Drawdown Average peak-to-trough decline	-2.17%	-3.69%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.75%	—

Volatility

Volatility by Period

	TMLP	TNGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	16.65%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	16.72%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	16.72%	-2.48%

TMLP vs. TNGY - Expense Ratio Comparison

TMLP has a 0.50% expense ratio, which is lower than TNGY's 0.85% expense ratio.

Dividends

TMLP vs. TNGY - Dividend Comparison

TMLP's dividend yield for the trailing twelve months is around 3.69%, less than TNGY's 4.54% yield.

Position	TTM	2025
TMLP Tortoise MLP ETF	3.69%	0.04%
TNGY Tortoise Energy Fund	4.54%	2.59%

Frequently Asked Questions

Can I hold both TMLP and TNGY in my portfolio?

TMLP and TNGY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMLP or TNGY?

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 TNGY?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.85% for TNGY.

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

TNGY has the higher dividend yield at 4.54%, compared with 3.69% for TMLP.

What is the main difference between TMLP and TNGY?

TMLP is categorized as MLPs, while TNGY is Energy Equities. Their fees differ too: 0.50% for TMLP and 0.85% for TNGY.