TMLP vs. TNUK

Last updated Jul 10, 2026

TMLP (Tortoise MLP ETF) and TNUK (Tortoise Nuclear Renaissance ETF) are both exchange-traded funds - TMLP is a MLPs fund tracking the Tortoise MLP Index, while TNUK is a Energy Equities fund actively managed by Tortoise. TMLP is passively managed, while TNUK is actively managed. At a correlation of -0.14, they often move in opposite directions. TMLP charges 0.50%/yr vs 0.75%/yr for TNUK.

Performance

TMLP vs. TNUK - Performance Comparison

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

Returns By Period

In the year-to-date period, TMLP achieves a 16.89% return, which is significantly higher than TNUK's -2.73% return.

TMLP

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

TNUK

• 1D: 0.97%
• 1M: -0.12%
• 6M: -8.81%
• YTD: -2.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMLP vs. TNUK - Yearly Performance Comparison

	2026 (YTD)	2025
TMLP Tortoise MLP ETF	16.89%	0.01%
TNUK Tortoise Nuclear Renaissance ETF	-2.73%	-2.57%

Correlation

The correlation between TMLP and TNUK is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	-0.14

Return for Risk

TMLP vs. TNUK - Risk-Adjusted Trends Comparison

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

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

Drawdowns

TMLP vs. TNUK - Drawdown Comparison

The maximum TMLP drawdown since its inception was -8.55%, smaller than the maximum TNUK drawdown of -21.57%. Use the drawdown chart below to compare losses from any high point for TMLP and TNUK.

Drawdown Indicators

	TMLP	TNUK	Difference
Max Drawdown Largest peak-to-trough decline	-8.55%	-21.57%	+13.02%
Current Drawdown Current decline from peak	-4.44%	-18.79%	+14.35%
Average Drawdown Average peak-to-trough decline	-2.15%	-9.19%	+7.04%

Volatility

Volatility by Period

	TMLP	TNUK	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	34.07%	-19.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	34.07%	-19.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	34.07%	-19.85%

TMLP vs. TNUK - Expense Ratio Comparison

TMLP has a 0.50% expense ratio, which is lower than TNUK's 0.75% expense ratio.

Dividends

TMLP vs. TNUK - Dividend Comparison

TMLP's dividend yield for the trailing twelve months is around 3.83%, while TNUK has not paid dividends to shareholders.

Position	TTM	2025
TMLP Tortoise MLP ETF	3.83%	0.04%
TNUK Tortoise Nuclear Renaissance ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMLP and TNUK in my portfolio?

TMLP and TNUK have a correlation of -0.14, 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 TNUK?

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 TNUK?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.75% for TNUK.

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

TMLP has the higher dividend yield at 3.83%, compared with 0.00% for TNUK.

What is the main difference between TMLP and TNUK?

TMLP is categorized as MLPs, while TNUK is Energy Equities. Their fees differ too: 0.50% for TMLP and 0.75% for TNUK.