TNGY vs. XOP

Last updated Jun 4, 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. A 0.68 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 15.21% return, which is significantly lower than XOP's 36.08% return.

TNGY

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

XOP

• 1D: 1.35%
• 1M: -5.46%
• YTD: 36.08%
• 6M: 26.81%
• 1Y: 41.73%
• 3Y*: 14.10%
• 5Y*: 14.86%
• 10Y*: 3.80%

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

TNGY vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
TNGY Tortoise Energy Fund	15.21%	1.81%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	36.08%	-3.25%

Correlation

The correlation between TNGY and XOP is 0.68, 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	0.68

Return for Risk

TNGY vs. XOP — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 43
XOP Sharpe Ratio Rank: 42
XOP Sortino Ratio Rank: 38
XOP Omega Ratio Rank: 37
XOP Calmar Ratio Rank: 55
XOP Martin Ratio Rank: 43

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.

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

Sharpe Ratios by Period

	TNGY	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.06	+1.09

Drawdowns

TNGY vs. XOP - Drawdown Comparison

The maximum TNGY drawdown since its inception was -8.86%, 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	-8.86%	-90.27%	+81.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.14%	—
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	-3.92%	-36.40%	+32.48%
Average Drawdown Average peak-to-trough decline	-2.18%	-42.59%	+40.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.90%	—

Volatility

Volatility by Period

	TNGY	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	27.81%	-12.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	33.88%	-18.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	40.28%	-24.58%

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 3.41%, more than XOP's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.90%	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 0.68, 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 XOP?

On fees, XOP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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 3.41%, compared with 1.90% 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.