TORIX vs. RMLPX

Last updated Jul 14, 2026

TORIX (Tortoise MLP & Pipeline Fund) and RMLPX (Recurrent MLP & Infrastructure Fund) are both Energy Equities funds. Over the past 5 years, TORIX returned 21.14%/yr vs 25.13%/yr for RMLPX. Their correlation of 0.94 suggests significant overlap in exposure. TORIX charges 0.93%/yr vs 1.25%/yr for RMLPX.

Performance

TORIX vs. RMLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise MLP & Pipeline Fund (TORIX) and Recurrent MLP & Infrastructure Fund (RMLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TORIX achieves a 24.52% return, which is significantly lower than RMLPX's 33.65% return.

TORIX

• 1D: -0.51%
• 1M: 1.08%
• 6M: 25.50%
• YTD: 24.52%
• 1Y: 27.87%
• 3Y*: 26.29%
• 5Y*: 21.14%
• 10Y*: 10.88%

RMLPX

• 1D: -0.12%
• 1M: -0.17%
• 6M: 32.04%
• YTD: 33.65%
• 1Y: 37.07%
• 3Y*: 28.67%
• 5Y*: 25.13%
• 10Y*: —

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

TORIX vs. RMLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TORIX Tortoise MLP & Pipeline Fund	24.52%	4.94%	42.91%	14.18%	22.20%	40.84%	-29.47%	18.33%	-15.14%
RMLPX Recurrent MLP & Infrastructure Fund	33.65%	8.98%	30.03%	16.79%	35.03%	42.56%	-28.37%	15.33%	-15.93%

Correlation

The correlation between TORIX and RMLPX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2018	0.94

The correlation between TORIX and RMLPX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

TORIX vs. RMLPX — Risk / Return Rank

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

TORIX

TORIX Risk / Return Rank: 72
TORIX Sharpe Ratio Rank: 74
TORIX Sortino Ratio Rank: 72
TORIX Omega Ratio Rank: 63
TORIX Calmar Ratio Rank: 92
TORIX Martin Ratio Rank: 61

RMLPX

RMLPX Risk / Return Rank: 83
RMLPX Sharpe Ratio Rank: 86
RMLPX Sortino Ratio Rank: 81
RMLPX Omega Ratio Rank: 77
RMLPX Calmar Ratio Rank: 93
RMLPX Martin Ratio Rank: 78

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.

TORIX vs. RMLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP & Pipeline Fund (TORIX) and Recurrent MLP & Infrastructure Fund (RMLPX). 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.

	TORIX	RMLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.27	-0.35
Sortino ratio: Return per unit of downside risk	2.69	3.05	-0.36
Omega ratio: Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio: Return relative to maximum drawdown	4.00	4.18	-0.17
Martin ratio: Return relative to average drawdown	9.35	11.07	-1.71

TORIX vs. RMLPX - Sharpe Ratio Comparison

The current TORIX Sharpe Ratio is 1.92, which is comparable to the RMLPX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of TORIX and RMLPX, 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

TORIX vs. RMLPX - Drawdown Comparison

The maximum TORIX drawdown since its inception was -68.58%, roughly equal to the maximum RMLPX drawdown of -66.95%. Use the drawdown chart below to compare losses from any high point for TORIX and RMLPX.

Drawdown Indicators

	TORIX	RMLPX	Difference
Max Drawdown Largest peak-to-trough decline	-68.58%	-66.95%	-1.63%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-9.09%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-16.52%	-18.75%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	-19.75%	-22.83%	+3.08%
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	—	—
Current Drawdown Current decline from peak	-2.85%	-4.27%	+1.42%
Average Drawdown Average peak-to-trough decline	-14.75%	-10.20%	-4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.42%	-0.38%

Volatility

TORIX vs. RMLPX - Volatility Comparison

The current volatility for Tortoise MLP & Pipeline Fund (TORIX) is 5.39%, while Recurrent MLP & Infrastructure Fund (RMLPX) has a volatility of 6.26%. This indicates that TORIX experiences smaller price fluctuations and is considered to be less risky than RMLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TORIX	RMLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	6.26%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	13.74%	-2.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	16.77%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	21.35%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	27.96%	-3.09%

TORIX vs. RMLPX - Expense Ratio Comparison

TORIX has a 0.93% expense ratio, which is lower than RMLPX's 1.25% expense ratio.

Dividends

TORIX vs. RMLPX - Dividend Comparison

TORIX's dividend yield for the trailing twelve months is around 4.11%, less than RMLPX's 4.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMLPX Recurrent MLP & Infrastructure Fund	4.87%	6.38%	7.63%	6.49%	7.08%	8.89%	13.48%	7.25%	5.85%	0.00%	0.00%	0.00%
TORIX Tortoise MLP & Pipeline Fund	4.11%	5.03%	4.92%	4.36%	5.28%	4.29%	5.63%	4.39%	4.22%	2.92%	1.87%	5.96%

Frequently Asked Questions

Can I hold both TORIX and RMLPX in my portfolio?

TORIX and RMLPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TORIX or RMLPX?

RMLPX has higher volatility (6.26%) compared to TORIX (5.39%). In terms of maximum drawdown, TORIX dropped -68.58% vs RMLPX's -66.95%.

Which has better risk-adjusted returns?

RMLPX currently has the higher Sharpe Ratio (2.27 vs 1.92), 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.