TNGY vs. IEO
TNGY (Tortoise Energy Fund) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both Energy Equities funds. TNGY is actively managed, while IEO is passively managed. A 0.69 correlation means they provide meaningful diversification when combined. TNGY charges 0.85%/yr vs 0.42%/yr for IEO.
Performance
TNGY vs. IEO - Performance Comparison
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Returns By Period
In the year-to-date period, TNGY achieves a 15.21% return, which is significantly lower than IEO's 34.59% return.
TNGY
- 1D
- 0.39%
- 1M
- -3.15%
- YTD
- 15.21%
- 6M
- 12.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEO
- 1D
- 1.66%
- 1M
- -3.23%
- YTD
- 34.59%
- 6M
- 26.42%
- 1Y
- 40.11%
- 3Y*
- 16.01%
- 5Y*
- 18.96%
- 10Y*
- 10.42%
TNGY vs. IEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TNGY Tortoise Energy Fund | 15.21% | 1.81% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 34.59% | -2.16% |
Correlation
The correlation between TNGY and IEO is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.69 |
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Return for Risk
TNGY vs. IEO — Risk / Return Rank
TNGY
IEO
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.
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Sharpe Ratios by Period
| TNGY | IEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.61 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.17 | +0.99 |
Drawdowns
TNGY vs. IEO - Drawdown Comparison
The maximum TNGY drawdown since its inception was -8.86%, 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.
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Drawdown Indicators
| TNGY | IEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.86% | -79.17% | +70.31% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.30% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.00% | — |
Current DrawdownCurrent decline from peak | -3.92% | -7.30% | +3.38% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -26.27% | +24.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.28% | — |
Volatility
TNGY vs. IEO - Volatility Comparison
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Volatility by Period
| TNGY | IEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.32% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.86% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 25.15% | -9.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 30.54% | -14.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.70% | 35.00% | -19.30% |
TNGY vs. IEO - Expense Ratio Comparison
TNGY has a 0.85% expense ratio, which is higher than IEO's 0.42% expense ratio.
Dividends
TNGY vs. IEO - Dividend Comparison
TNGY's dividend yield for the trailing twelve months is around 3.41%, more than IEO's 1.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 1.97% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
TNGY Tortoise Energy Fund | 3.41% | 2.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TNGY and IEO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEO is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEO is cheaper with a 0.42% expense ratio, compared with 0.85% for TNGY.
TNGY has the higher dividend yield at 3.41%, compared with 1.97% for IEO.
They also come from different issuers: Tortoise Capital and iShares. Their fees differ too: 0.85% for TNGY and 0.42% for IEO.
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