TNGY vs. IEO

Last updated Apr 2, 2026

Compare and contrast key facts about Tortoise Energy Fund (TNGY) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO).

TNGY and IEO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TNGY is an actively managed fund by Tortoise Capital. It was launched on Jun 16, 2025. IEO is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Oil Exploration & Production Index. It was launched on May 5, 2006.

Performance

TNGY vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Energy Fund (TNGY) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

TNGY vs. IEO - Yearly Performance Comparison

	2026 (YTD)	2025
TNGY Tortoise Energy Fund	14.20%	1.81%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	35.85%	-2.16%

Returns By Period

In the year-to-date period, TNGY achieves a 14.20% return, which is significantly lower than IEO's 35.85% return.

TNGY

• 1D: -2.11%
• 1M: -0.64%
• YTD: 14.20%
• 6M: 13.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEO

• 1D: -3.37%
• 1M: 7.98%
• YTD: 35.85%
• 6M: 30.59%
• 1Y: 29.93%
• 3Y*: 14.93%
• 5Y*: 22.54%
• 10Y*: 11.67%

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

TNGY vs. IEO - Expense Ratio Comparison

TNGY has a 0.85% expense ratio, which is higher than IEO's 0.42% expense ratio.

TNGY

Tortoise Energy Fund

IEO

iShares U.S. Oil & Gas Exploration & Production ETF

Return for Risk

TNGY vs. IEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IEO

IEO Risk / Return Rank: 49
IEO Sharpe Ratio Rank: 52
IEO Sortino Ratio Rank: 49
IEO Omega Ratio Rank: 50
IEO Calmar Ratio Rank: 52
IEO Martin Ratio Rank: 44

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.

TNGY vs. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Energy Fund (TNGY) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

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

Sharpe Ratios by Period

	TNGY	IEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.98	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.49	0.17	+1.32

Correlation

The correlation between TNGY and IEO is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TNGY vs. IEO - Dividend Comparison

TNGY's dividend yield for the trailing twelve months is around 3.44%, more than IEO's 1.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNGY Tortoise Energy Fund	3.44%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	1.95%	2.61%	2.63%	3.00%	3.77%	2.62%	3.17%	1.85%	1.67%	0.94%	0.98%	2.03%

Drawdowns

TNGY vs. IEO - Drawdown Comparison

The maximum TNGY drawdown since its inception was -5.30%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for TNGY and IEO.

Drawdown Indicators

	TNGY	IEO	Difference
Max Drawdown Largest peak-to-trough decline	-5.30%	-79.17%	+73.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.00%	—
Current Drawdown Current decline from peak	-4.76%	-6.43%	+1.67%
Average Drawdown Average peak-to-trough decline	-1.58%	-26.42%	+24.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.07%	—

Volatility

Volatility by Period

	TNGY	IEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	30.67%	-16.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.17%	30.64%	-16.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.17%	34.94%	-20.77%