TORIX vs. TPYP
Compare and contrast key facts about Tortoise MLP & Pipeline Fund (TORIX) and Tortoise North American Pipeline Fund (TPYP).
TORIX is managed by Tortoise. It was launched on May 30, 2011. TPYP is a passively managed fund by Tortoise that tracks the performance of the Tortoise North American Pipeline Index. It was launched on Jun 30, 2015.
Performance
TORIX vs. TPYP - Performance Comparison
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TORIX vs. TPYP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TORIX Tortoise MLP & Pipeline Fund | 22.82% | 4.94% | 42.91% | 14.18% | 22.20% | 40.84% | -29.47% | 18.33% | -15.14% | -1.04% |
TPYP Tortoise North American Pipeline Fund | 20.98% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 23.35% | -11.13% | 2.27% |
Returns By Period
In the year-to-date period, TORIX achieves a 22.82% return, which is significantly higher than TPYP's 20.98% return. Both investments have delivered pretty close results over the past 10 years, with TORIX having a 13.24% annualized return and TPYP not far ahead at 13.45%.
TORIX
- 1D
- -0.81%
- 1M
- 3.91%
- YTD
- 22.82%
- 6M
- 22.35%
- 1Y
- 20.48%
- 3Y*
- 27.94%
- 5Y*
- 24.92%
- 10Y*
- 13.24%
TPYP
- 1D
- -1.05%
- 1M
- 2.89%
- YTD
- 20.98%
- 6M
- 18.25%
- 1Y
- 20.82%
- 3Y*
- 25.55%
- 5Y*
- 21.03%
- 10Y*
- 13.45%
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TORIX vs. TPYP - Expense Ratio Comparison
TORIX has a 0.93% expense ratio, which is higher than TPYP's 0.40% expense ratio.
Return for Risk
TORIX vs. TPYP — Risk / Return Rank
TORIX
TPYP
TORIX vs. TPYP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP & Pipeline Fund (TORIX) and Tortoise North American Pipeline Fund (TPYP). 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.
| TORIX | TPYP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 1.26 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.48 | 1.64 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.60 | -0.23 |
Martin ratioReturn relative to average drawdown | 3.76 | 5.57 | -1.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TORIX | TPYP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.26 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 1.22 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.61 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.44 | -0.01 |
Correlation
The correlation between TORIX and TPYP is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TORIX vs. TPYP - Dividend Comparison
TORIX's dividend yield for the trailing twelve months is around 4.14%, more than TPYP's 3.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TORIX Tortoise MLP & Pipeline Fund | 4.14% | 5.03% | 4.92% | 4.36% | 5.28% | 4.29% | 5.63% | 4.39% | 4.22% | 2.92% | 1.87% | 5.96% |
TPYP Tortoise North American Pipeline Fund | 3.23% | 3.91% | 3.95% | 4.83% | 4.48% | 4.86% | 6.14% | 4.45% | 4.58% | 3.71% | 3.49% | 2.56% |
Drawdowns
TORIX vs. TPYP - Drawdown Comparison
The maximum TORIX drawdown since its inception was -68.58%, which is greater than TPYP's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for TORIX and TPYP.
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Drawdown Indicators
| TORIX | TPYP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.58% | -51.91% | -16.67% |
Max Drawdown (1Y)Largest decline over 1 year | -15.10% | -13.17% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -17.96% | -1.79% |
Max Drawdown (10Y)Largest decline over 10 years | -63.04% | -51.91% | -11.13% |
Current DrawdownCurrent decline from peak | -0.89% | -1.65% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -14.96% | -7.97% | -6.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.50% | 3.77% | +1.73% |
Volatility
TORIX vs. TPYP - Volatility Comparison
Tortoise MLP & Pipeline Fund (TORIX) has a higher volatility of 4.14% compared to Tortoise North American Pipeline Fund (TPYP) at 3.19%. This indicates that TORIX's price experiences larger fluctuations and is considered to be riskier than TPYP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TORIX | TPYP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 3.19% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 8.94% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.37% | 16.59% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 17.32% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.99% | 21.96% | +3.03% |