TNUK vs. TPZ

Last updated Jul 18, 2026

TNUK (Tortoise Nuclear Renaissance ETF) and TPZ (Tortoise Electrification Infrastructure ETF) are both Energy Equities funds from Tortoise. Both are actively managed. At a 0.35 correlation, their price movements are largely independent. TNUK charges 0.75%/yr vs 0.85%/yr for TPZ.

Performance

TNUK vs. TPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Nuclear Renaissance ETF (TNUK) and Tortoise Electrification Infrastructure ETF (TPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNUK achieves a -7.27% return, which is significantly lower than TPZ's 10.11% return.

TNUK

• 1D: 0.08%
• 1M: -9.61%
• 6M: -20.04%
• YTD: -7.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TPZ

• 1D: -0.16%
• 1M: 2.61%
• 6M: 8.09%
• YTD: 10.11%
• 1Y: 12.95%
• 3Y*: 24.87%
• 5Y*: 17.96%
• 10Y*: 8.57%

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

TNUK vs. TPZ - Yearly Performance Comparison

	2026 (YTD)	2025
TNUK Tortoise Nuclear Renaissance ETF	-7.27%	0.34%
TPZ Tortoise Electrification Infrastructure ETF	10.11%	0.97%

Correlation

The correlation between TNUK and TPZ is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.35

Return for Risk

TNUK vs. TPZ — Risk / Return Rank

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

TNUK

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

TPZ

TPZ Risk / Return Rank: 38
TPZ Sharpe Ratio Rank: 33
TPZ Sortino Ratio Rank: 33
TPZ Omega Ratio Rank: 31
TPZ Calmar Ratio Rank: 54
TPZ Martin Ratio Rank: 38

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.

TNUK vs. TPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Nuclear Renaissance ETF (TNUK) and Tortoise Electrification Infrastructure ETF (TPZ). 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.

	TNUK	TPZ	Difference
Sharpe ratio: Return per unit of total volatility	—	0.95	—
Sortino ratio: Return per unit of downside risk	—	1.40	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	2.07	—
Martin ratio: Return relative to average drawdown	—	4.55	—

Drawdowns

TNUK vs. TPZ - Drawdown Comparison

The maximum TNUK drawdown since its inception was -22.64%, smaller than the maximum TPZ drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for TNUK and TPZ.

Drawdown Indicators

	TNUK	TPZ	Difference
Max Drawdown Largest peak-to-trough decline	-22.64%	-78.17%	+55.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.78%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.04%	—
Current Drawdown Current decline from peak	-22.58%	-2.75%	-19.83%
Average Drawdown Average peak-to-trough decline	-9.66%	-11.88%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.85%	—

Volatility

Volatility by Period

	TNUK	TPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.85%	13.76%	+20.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.85%	17.68%	+16.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.85%	27.70%	+6.15%

TNUK vs. TPZ - Expense Ratio Comparison

TNUK has a 0.75% expense ratio, which is lower than TPZ's 0.85% expense ratio.

Dividends

TNUK vs. TPZ - Dividend Comparison

TNUK has not paid dividends to shareholders, while TPZ's dividend yield for the trailing twelve months is around 3.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNUK Tortoise Nuclear Renaissance ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPZ Tortoise Electrification Infrastructure ETF	3.70%	3.99%	5.88%	8.99%	9.52%	4.77%	8.80%	8.84%	9.41%	7.28%	6.88%	9.68%

Frequently Asked Questions

Can I hold both TNUK and TPZ in my portfolio?

TNUK and TPZ have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNUK or TPZ?

On fees, TNUK is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNUK or TPZ?

TNUK is cheaper with a 0.75% expense ratio, compared with 0.85% for TPZ.

Which ETF pays a higher dividend yield, TNUK or TPZ?

TPZ has the higher dividend yield at 3.70%, compared with 0.00% for TNUK.

What is the main difference between TNUK and TPZ?

Their fees differ too: 0.75% for TNUK and 0.85% for TPZ.