TPYP vs. ANGL
TPYP (Tortoise North American Pipeline Fund) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both exchange-traded funds - TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index, while ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index. Both are passively managed. Over the past 10 years, TPYP returned 12.22%/yr vs 6.28%/yr for ANGL. At a 0.41 correlation, their price movements are largely independent. TPYP charges 0.40%/yr vs 0.35%/yr for ANGL.
Performance
TPYP vs. ANGL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TPYP achieves a 22.03% return, which is significantly higher than ANGL's 1.87% return. Over the past 10 years, TPYP has outperformed ANGL with an annualized return of 12.22%, while ANGL has yielded a comparatively lower 6.28% annualized return.
TPYP
- 1D
- 0.86%
- 1M
- -1.66%
- YTD
- 22.03%
- 6M
- 22.42%
- 1Y
- 23.92%
- 3Y*
- 25.50%
- 5Y*
- 17.51%
- 10Y*
- 12.22%
ANGL
- 1D
- 0.03%
- 1M
- 1.57%
- YTD
- 1.87%
- 6M
- 2.30%
- 1Y
- 7.82%
- 3Y*
- 8.49%
- 5Y*
- 3.32%
- 10Y*
- 6.28%
TPYP vs. ANGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPYP Tortoise North American Pipeline Fund | 22.03% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 23.35% | -11.13% | 2.27% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.87% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
Correlation
The correlation between TPYP and ANGL is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.41 |
The correlation between TPYP and ANGL shifts across timeframes, from -0.02 (1 year) to 0.42 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TPYP vs. ANGL — Risk / Return Rank
TPYP
ANGL
TPYP vs. ANGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.
| TPYP | ANGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 1.85 | +1.69 |
| Martin ratioReturn relative to average drawdown | 9.15 | 7.72 | +1.42 |
Loading charts...
Drawdowns
TPYP vs. ANGL - Drawdown Comparison
The maximum TPYP drawdown since its inception was -51.91%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for TPYP and ANGL.
Loading charts...
Drawdown Indicators
| TPYP | ANGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -29.31% | -22.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -4.05% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -5.48% | -7.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -19.25% | +1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -51.91% | -29.31% | -22.60% |
Current DrawdownCurrent decline from peak | -3.72% | 0.00% | -3.72% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -3.29% | -4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 0.97% | +1.67% |
Volatility
TPYP vs. ANGL - Volatility Comparison
Tortoise North American Pipeline Fund (TPYP) has a higher volatility of 5.30% compared to VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) at 1.45%. This indicates that TPYP's price experiences larger fluctuations and is considered to be riskier than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TPYP | ANGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 1.45% | +3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 3.54% | +6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.14% | 4.37% | +8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 7.63% | +9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 9.28% | +12.65% |
TPYP vs. ANGL - Expense Ratio Comparison
TPYP has a 0.40% expense ratio, which is higher than ANGL's 0.35% expense ratio.
Dividends
TPYP vs. ANGL - Dividend Comparison
TPYP's dividend yield for the trailing twelve months is around 3.20%, less than ANGL's 6.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.35% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
TPYP Tortoise North American Pipeline Fund | 3.20% | 3.91% | 3.95% | 4.83% | 4.48% | 4.86% | 6.14% | 4.45% | 4.58% | 3.71% | 3.49% | 2.56% |
Frequently Asked Questions
TPYP and ANGL have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TPYP has higher volatility (5.30%) compared to ANGL (1.45%). In terms of maximum drawdown, TPYP dropped -51.91% vs ANGL's -29.31%.
On 10-year performance, TPYP leads with 12.22% vs 6.28% for ANGL. On fees, ANGL is cheaper at 0.35% per year. On volatility, ANGL has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TPYP has performed better with a 12.22% return vs 6.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.35% expense ratio, compared with 0.40% for TPYP.
ANGL has the higher dividend yield at 6.35%, compared with 3.20% for TPYP.
TPYP is categorized as Energy Equities, while ANGL is High Yield Bonds. TPYP tracks Tortoise North American Pipeline Index, while ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index. They also come from different issuers: Tortoise and VanEck. Their fees differ too: 0.40% for TPYP and 0.35% for ANGL.
TPYP currently has the higher Sharpe Ratio (1.84 vs 1.71), 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.
Find the right allocation for TPYP and ANGL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer