TORIX vs. SRV
TORIX (Tortoise MLP & Pipeline Fund) and SRV (NXG Cushing® Midstream Energy Fund) are both Energy Equities funds. Over the past 10 years, TORIX returned 10.88%/yr vs 12.06%/yr for SRV. A 0.62 correlation means they provide meaningful diversification when combined. TORIX charges 0.93%/yr vs 1.00%/yr for SRV.
Performance
TORIX vs. SRV - Performance Comparison
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Returns By Period
In the year-to-date period, TORIX achieves a 24.52% return, which is significantly lower than SRV's 36.07% return. Over the past 10 years, TORIX has underperformed SRV with an annualized return of 10.88%, while SRV has yielded a comparatively higher 12.06% annualized 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%
SRV
- 1D
- -0.28%
- 1M
- 3.41%
- 6M
- 32.01%
- YTD
- 36.07%
- 1Y
- 40.80%
- 3Y*
- 26.23%
- 5Y*
- 27.80%
- 10Y*
- 12.06%
TORIX vs. SRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TORIX Tortoise MLP & Pipeline Fund | 24.52% | 4.94% | 42.91% | 14.18% | 22.20% | 40.84% | -29.47% | 18.33% | -15.14% | -1.04% |
SRV NXG Cushing® Midstream Energy Fund | 36.07% | 5.05% | 50.70% | 19.88% | 20.11% | 50.45% | -41.65% | 33.99% | -21.61% | -4.21% |
Correlation
The correlation between TORIX and SRV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 31, 2011 | 0.62 |
The correlation between TORIX and SRV shifts across timeframes, from 0.45 (1 year) to 0.66 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
TORIX vs. SRV — Risk / Return Rank
TORIX
SRV
TORIX vs. SRV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP & Pipeline Fund (TORIX) and NXG Cushing® Midstream Energy Fund (SRV). 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 | SRV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.00 | 3.12 | +0.88 |
| Martin ratioReturn relative to average drawdown | 9.35 | 8.84 | +0.52 |
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Drawdowns
TORIX vs. SRV - Drawdown Comparison
The maximum TORIX drawdown since its inception was -68.58%, smaller than the maximum SRV drawdown of -92.97%. Use the drawdown chart below to compare losses from any high point for TORIX and SRV.
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Drawdown Indicators
| TORIX | SRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.58% | -92.97% | +24.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -13.13% | +6.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.52% | -26.26% | +9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -26.26% | +6.51% |
Max Drawdown (10Y)Largest decline over 10 years | -63.04% | -81.70% | +18.66% |
Current DrawdownCurrent decline from peak | -2.85% | -5.07% | +2.22% |
Average DrawdownAverage peak-to-trough decline | -14.75% | -48.53% | +33.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 4.63% | -1.59% |
Volatility
TORIX vs. SRV - Volatility Comparison
The current volatility for Tortoise MLP & Pipeline Fund (TORIX) is 5.39%, while NXG Cushing® Midstream Energy Fund (SRV) has a volatility of 7.92%. This indicates that TORIX experiences smaller price fluctuations and is considered to be less risky than SRV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TORIX | SRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 7.92% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.73% | 16.05% | -4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.86% | 19.93% | -5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.61% | 26.44% | -6.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.87% | 38.29% | -13.42% |
TORIX vs. SRV - Expense Ratio Comparison
TORIX has a 0.93% expense ratio, which is lower than SRV's 1.00% expense ratio.
Dividends
TORIX vs. SRV - Dividend Comparison
TORIX's dividend yield for the trailing twelve months is around 4.11%, less than SRV's 15.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRV NXG Cushing® Midstream Energy Fund | 15.18% | 19.31% | 12.85% | 15.56% | 8.85% | 4.72% | 12.05% | 10.59% | 12.73% | 9.07% | 7.95% | 11.01% |
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
TORIX and SRV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRV has higher volatility (7.92%) compared to TORIX (5.39%). In terms of maximum drawdown, TORIX dropped -68.58% vs SRV's -92.97%.
SRV currently has the higher Sharpe Ratio (2.06 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.
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