TPYP vs. DVXE
TPYP (Tortoise North American Pipeline Fund) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - TPYP tracks the Tortoise North American Pipeline Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. A 0.63 correlation means they provide meaningful diversification when combined. TPYP charges 0.40%/yr vs 0.89%/yr for DVXE.
Performance
TPYP vs. DVXE - Performance Comparison
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Returns By Period
In the year-to-date period, TPYP achieves a 20.07% return, which is significantly lower than DVXE's 44.98% return.
TPYP
- 1D
- -0.04%
- 1M
- -2.82%
- YTD
- 20.07%
- 6M
- 19.62%
- 1Y
- 21.07%
- 3Y*
- 25.01%
- 5Y*
- 17.73%
- 10Y*
- 11.93%
DVXE
- 1D
- 1.52%
- 1M
- -1.50%
- YTD
- 44.98%
- 6M
- 39.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPYP vs. DVXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TPYP Tortoise North American Pipeline Fund | 20.07% | 2.82% |
DVXE WEBs Energy XLE Defined Volatility ETF | 44.98% | 4.49% |
Correlation
The correlation between TPYP and DVXE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | 0.63 |
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Return for Risk
TPYP vs. DVXE — Risk / Return Rank
TPYP
DVXE
TPYP vs. DVXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.
| TPYP | DVXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.28 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | — | — |
| Martin ratioReturn relative to average drawdown | 8.34 | — | — |
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
| TPYP | DVXE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 1.99 | -1.56 |
Drawdowns
TPYP vs. DVXE - Drawdown Comparison
The maximum TPYP drawdown since its inception was -51.91%, which is greater than DVXE's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for TPYP and DVXE.
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Drawdown Indicators
| TPYP | DVXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -17.96% | -33.95% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.91% | — | — |
Current DrawdownCurrent decline from peak | -5.27% | -11.99% | +6.72% |
Average DrawdownAverage peak-to-trough decline | -7.89% | -5.80% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | — | — |
Volatility
TPYP vs. DVXE - Volatility Comparison
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Volatility by Period
| TPYP | DVXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 31.23% | -18.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 31.23% | -13.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.94% | 31.23% | -9.29% |
TPYP vs. DVXE - Expense Ratio Comparison
TPYP has a 0.40% expense ratio, which is lower than DVXE's 0.89% expense ratio.
Dividends
TPYP vs. DVXE - Dividend Comparison
TPYP's dividend yield for the trailing twelve months is around 3.25%, while DVXE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.25% | 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 DVXE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TPYP is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPYP is cheaper with a 0.40% expense ratio, compared with 0.89% for DVXE.
TPYP has the higher dividend yield at 3.25%, compared with 0.00% for DVXE.
TPYP tracks Tortoise North American Pipeline Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: Tortoise and WEBs. Their fees differ too: 0.40% for TPYP and 0.89% for DVXE.
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