TPL vs. VNOM
TPL (Texas Pacific Land Corporation) and VNOM (Viper Energy Partners LP) are both stocks. Both are in the Energy sector — TPL in Oil & Gas E&P, VNOM in Oil & Gas Midstream. Over the past 10 years, TPL returned 35.75%/yr vs 15.22%/yr for VNOM. At a 0.43 correlation, their price movements are largely independent.
Performance
TPL vs. VNOM - Performance Comparison
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Returns By Period
In the year-to-date period, TPL achieves a 26.65% return, which is significantly higher than VNOM's 16.06% return. Over the past 10 years, TPL has outperformed VNOM with an annualized return of 35.75%, while VNOM has yielded a comparatively lower 15.22% annualized return.
TPL
- 1D
- -4.26%
- 1M
- -5.67%
- YTD
- 26.65%
- 6M
- 29.97%
- 1Y
- -2.18%
- 3Y*
- 35.41%
- 5Y*
- 17.26%
- 10Y*
- 35.75%
VNOM
- 1D
- -1.55%
- 1M
- -10.80%
- YTD
- 16.06%
- 6M
- 13.71%
- 1Y
- 8.58%
- 3Y*
- 27.80%
- 5Y*
- 25.82%
- 10Y*
- 15.22%
TPL vs. VNOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPL Texas Pacific Land Corporation | 26.65% | -21.61% | 115.31% | -32.40% | 91.29% | 73.25% | -4.69% | 44.58% | 21.96% | 51.18% |
VNOM Viper Energy Partners LP | 16.06% | -16.58% | 65.52% | 4.83% | 61.69% | 94.24% | -50.69% | 0.66% | 19.60% | 55.99% |
Correlation
The correlation between TPL and VNOM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2014 | 0.43 |
The correlation between TPL and VNOM shifts across timeframes, from 0.43 (all time) to 0.57 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TPL:
$25.04B
VNOM:
$7.92B
TPL:
$7.30
VNOM:
-$0.29
TPL:
29.85
VNOM:
4.27
TPL:
16.09
VNOM:
1.55
TPL:
$839.03M
VNOM:
$1.60B
TPL:
$625.27M
VNOM:
$740.00M
TPL:
$690.06M
VNOM:
$1.04B
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Return for Risk
TPL vs. VNOM — Risk / Return Rank
TPL
VNOM
TPL vs. VNOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Texas Pacific Land Corporation (TPL) and Viper Energy Partners LP (VNOM). 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.
| TPL | VNOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.07 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 0.66 | -0.73 |
| Martin ratioReturn relative to average drawdown | -0.14 | 1.20 | -1.34 |
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Drawdowns
TPL vs. VNOM - Drawdown Comparison
The maximum TPL drawdown since its inception was -73.05%, smaller than the maximum VNOM drawdown of -86.96%. Use the drawdown chart below to compare losses from any high point for TPL and VNOM.
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Drawdown Indicators
| TPL | VNOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.05% | -86.96% | +13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -32.69% | -13.03% | -19.66% |
Max Drawdown (3Y)Largest decline over 3 years | -52.22% | -34.46% | -17.76% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -34.46% | -18.04% |
Max Drawdown (10Y)Largest decline over 10 years | -65.46% | -86.96% | +21.50% |
Current DrawdownCurrent decline from peak | -36.47% | -15.99% | -20.48% |
Average DrawdownAverage peak-to-trough decline | -27.27% | -31.64% | +4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.20% | 8.22% | +8.98% |
Volatility
TPL vs. VNOM - Volatility Comparison
Texas Pacific Land Corporation (TPL) has a higher volatility of 14.84% compared to Viper Energy Partners LP (VNOM) at 7.25%. This indicates that TPL's price experiences larger fluctuations and is considered to be riskier than VNOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPL | VNOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.84% | 7.25% | +7.59% |
Volatility (6M)Calculated over the trailing 6-month period | 38.33% | 20.01% | +18.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.12% | 29.23% | +17.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.28% | 35.89% | +10.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.14% | 45.22% | +1.92% |
Dividends
TPL vs. VNOM - Dividend Comparison
TPL's dividend yield for the trailing twelve months is around 0.62%, less than VNOM's 5.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TPL Texas Pacific Land Corporation | 0.62% | 0.74% | 1.37% | 0.83% | 1.37% | 0.88% | 2.20% | 0.22% | 0.55% | 0.30% | 0.10% | 0.22% |
VNOM Viper Energy Partners LP | 5.29% | 6.03% | 4.89% | 5.58% | 7.68% | 5.16% | 5.85% | 7.38% | 8.14% | 5.27% | 4.83% | 6.16% |
Financials
TPL vs. VNOM - Financials Comparison
This section allows you to compare key financial metrics between Texas Pacific Land Corporation and Viper Energy Partners LP. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TPL vs. VNOM - Profitability Comparison
TPL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Texas Pacific Land Corporation reported a gross profit of 0.00 and revenue of 236.82M. Therefore, the gross margin over that period was 0.0%.
VNOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a gross profit of 255.00M and revenue of 496.00M. Therefore, the gross margin over that period was 51.4%.
TPL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Texas Pacific Land Corporation reported an operating income of 182.33M and revenue of 236.82M, resulting in an operating margin of 77.0%.
VNOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported an operating income of 238.00M and revenue of 496.00M, resulting in an operating margin of 48.0%.
TPL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Texas Pacific Land Corporation reported a net income of 142.90M and revenue of 236.82M, resulting in a net margin of 60.3%.
VNOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a net income of 97.00M and revenue of 496.00M, resulting in a net margin of 19.6%.
Frequently Asked Questions
TPL and VNOM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TPL has higher volatility (14.84%) compared to VNOM (7.25%). In terms of maximum drawdown, TPL dropped -73.05% vs VNOM's -86.96%.
VNOM currently has the higher Sharpe Ratio (0.30 vs -0.05), 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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