TNGY vs. MLPI

Last updated Jun 4, 2026

TNGY (Tortoise Energy Fund) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both Energy Equities funds. Both are actively managed. A 0.73 correlation means they provide meaningful diversification when combined. TNGY charges 0.85%/yr vs 0.68%/yr for MLPI.

Performance

TNGY vs. MLPI - Performance Comparison

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

Returns By Period

In the year-to-date period, TNGY achieves a 15.21% return, which is significantly lower than MLPI's 17.58% return.

TNGY

• 1D: 0.39%
• 1M: -3.15%
• YTD: 15.21%
• 6M: 12.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 0.04%
• 1M: -3.13%
• YTD: 17.58%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TNGY vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
TNGY Tortoise Energy Fund	15.21%	2.55%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%

Correlation

The correlation between TNGY and MLPI is 0.73, 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 Dec 19, 2025	0.73

Return for Risk

TNGY vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Energy Fund (TNGY) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). 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	MLPI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	3.49	-2.33

Drawdowns

TNGY vs. MLPI - Drawdown Comparison

The maximum TNGY drawdown since its inception was -8.86%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for TNGY and MLPI.

Drawdown Indicators

	TNGY	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-8.86%	-5.38%	-3.48%
Current Drawdown Current decline from peak	-3.92%	-3.84%	-0.08%
Average Drawdown Average peak-to-trough decline	-2.18%	-1.27%	-0.91%

Volatility

Volatility by Period

	TNGY	MLPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	13.05%	+2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	13.05%	+2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	13.05%	+2.65%

TNGY vs. MLPI - Expense Ratio Comparison

TNGY has a 0.85% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

TNGY vs. MLPI - Dividend Comparison

TNGY's dividend yield for the trailing twelve months is around 3.41%, less than MLPI's 6.04% yield.

Position	TTM	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%
TNGY Tortoise Energy Fund	3.41%	2.59%

Frequently Asked Questions

Can I hold both TNGY and MLPI in my portfolio?

TNGY and MLPI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNGY or MLPI?

On fees, MLPI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNGY or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.85% for TNGY.

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

MLPI has the higher dividend yield at 6.04%, compared with 3.41% for TNGY.

What is the main difference between TNGY and MLPI?

They also come from different issuers: Tortoise Capital and Neos. Their fees differ too: 0.85% for TNGY and 0.68% for MLPI.