TNGY vs. XOP

Last updated Jun 25, 2026

TNGY (Tortoise Energy Fund) and XOP (SPDR S&P Oil & Gas Exploration & Production ETF) are both Energy Equities funds. TNGY is actively managed, while XOP is passively managed. Over the past year, TNGY returned 11.35% vs 25.52% for XOP. A 0.69 correlation means they provide meaningful diversification when combined. TNGY charges 0.85%/yr vs 0.35%/yr for XOP.

Performance

TNGY vs. XOP - Performance Comparison

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

Returns By Period

In the year-to-date period, TNGY achieves a 9.61% return, which is significantly lower than XOP's 23.65% return.

TNGY

• 1D: -1.11%
• 1M: -6.49%
• YTD: 9.61%
• 6M: 10.43%
• 1Y: 11.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XOP

• 1D: 1.12%
• 1M: -6.38%
• YTD: 23.65%
• 6M: 23.99%
• 1Y: 25.52%
• 3Y*: 10.36%
• 5Y*: 11.83%
• 10Y*: 3.63%

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

TNGY vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
TNGY Tortoise Energy Fund	9.61%	-2.37%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	23.65%	-3.02%

Correlation

The correlation between TNGY and XOP is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025	0.69

The correlation between TNGY and XOP has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.

Return for Risk

TNGY vs. XOP — Risk / Return Rank

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

TNGY

TNGY Risk / Return Rank: 23
TNGY Sharpe Ratio Rank: 22
TNGY Sortino Ratio Rank: 20
TNGY Omega Ratio Rank: 20
TNGY Calmar Ratio Rank: 26
TNGY Martin Ratio Rank: 27

XOP

XOP Risk / Return Rank: 28
XOP Sharpe Ratio Rank: 28
XOP Sortino Ratio Rank: 26
XOP Omega Ratio Rank: 25
XOP Calmar Ratio Rank: 30
XOP Martin Ratio Rank: 30

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. XOP - Risk-Adjusted Trends Comparison

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

	TNGY	XOP	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.91	-0.20
Sortino ratio: Return per unit of downside risk	1.03	1.33	-0.30
Omega ratio: Gain probability vs. loss probability	1.13	1.16	-0.03
Calmar ratio: Return relative to maximum drawdown	1.16	1.39	-0.22
Martin ratio: Return relative to average drawdown	3.37	3.77	-0.40

TNGY vs. XOP - Sharpe Ratio Comparison

The current TNGY Sharpe Ratio is 0.71, which is comparable to the XOP Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of TNGY and XOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TNGY vs. XOP - Drawdown Comparison

The maximum TNGY drawdown since its inception was -9.79%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for TNGY and XOP.

Drawdown Indicators

	TNGY	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-9.79%	-90.27%	+80.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-18.50%	+8.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-8.58%	-42.21%	+33.63%
Average Drawdown Average peak-to-trough decline	-3.60%	-42.58%	+38.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	6.78%	-3.40%

Volatility

TNGY vs. XOP - Volatility Comparison

The current volatility for Tortoise Energy Fund (TNGY) is 6.38%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 8.55%. This indicates that TNGY experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNGY	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.38%	8.55%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	22.03%	-9.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	28.10%	-12.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	33.88%	-17.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.45%	40.24%	-23.79%

TNGY vs. XOP - Expense Ratio Comparison

TNGY has a 0.85% expense ratio, which is higher than XOP's 0.35% expense ratio.

Dividends

TNGY vs. XOP - Dividend Comparison

TNGY's dividend yield for the trailing twelve months is around 3.59%, more than XOP's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNGY Tortoise Energy Fund	3.59%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	2.10%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Frequently Asked Questions

Can I hold both TNGY and XOP in my portfolio?

TNGY and XOP 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 is riskier, TNGY or XOP?

XOP has higher volatility (8.55%) compared to TNGY (6.38%). In terms of maximum drawdown, TNGY dropped -9.79% vs XOP's -90.27%.

Which ETF is better, TNGY or XOP?

On 1-year performance, XOP leads with 25.52% vs 11.35% for TNGY. On fees, XOP is cheaper at 0.35% per year. On volatility, TNGY has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TNGY or XOP?

Over the 1-year period, XOP has performed better with a 25.52% return vs 11.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TNGY or XOP?

XOP is cheaper with a 0.35% expense ratio, compared with 0.85% for TNGY.

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

TNGY has the higher dividend yield at 3.59%, compared with 2.10% for XOP.

What is the main difference between TNGY and XOP?

They also come from different issuers: Tortoise Capital and State Street. Their fees differ too: 0.85% for TNGY and 0.35% for XOP.

Which has better risk-adjusted returns?

XOP currently has the higher Sharpe Ratio (0.91 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.