TPYP vs. FAI
TPYP (Tortoise North American Pipeline Fund) and FAI (First Trust Bloomberg Artificial Intelligence ETF) are both exchange-traded funds - TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index, while FAI is a Technology Equities fund tracking the Bloomberg Artificial Intelligence Index. Both are passively managed. Over the past year, TPYP returned 26.53% vs 49.94% for FAI. At a 0.03 correlation, their price movements are largely independent. TPYP charges 0.40%/yr vs 0.65%/yr for FAI.
Performance
TPYP vs. FAI - Performance Comparison
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Returns By Period
In the year-to-date period, TPYP achieves a 22.99% return, which is significantly lower than FAI's 28.90% return.
TPYP
- 1D
- -0.25%
- 1M
- 0.79%
- 6M
- 24.31%
- YTD
- 22.99%
- 1Y
- 26.53%
- 3Y*
- 24.84%
- 5Y*
- 18.54%
- 10Y*
- 11.58%
FAI
- 1D
- -0.41%
- 1M
- 0.70%
- 6M
- 25.51%
- YTD
- 28.90%
- 1Y
- 49.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPYP vs. FAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TPYP Tortoise North American Pipeline Fund | 22.99% | 7.59% | -3.96% |
FAI First Trust Bloomberg Artificial Intelligence ETF | 28.90% | 33.37% | 2.28% |
Correlation
The correlation between TPYP and FAI is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024 | 0.03 |
The correlation between TPYP and FAI shifts across timeframes, from -0.20 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TPYP vs. FAI — Risk / Return Rank
TPYP
FAI
TPYP vs. FAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and First Trust Bloomberg Artificial Intelligence ETF (FAI). 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 | FAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | 2.64 | +1.35 |
| Martin ratioReturn relative to average drawdown | 9.54 | 7.77 | +1.77 |
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Drawdowns
TPYP vs. FAI - Drawdown Comparison
The maximum TPYP drawdown since its inception was -51.91%, which is greater than FAI's maximum drawdown of -27.82%. Use the drawdown chart below to compare losses from any high point for TPYP and FAI.
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Drawdown Indicators
| TPYP | FAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -27.82% | -24.09% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -18.84% | +12.00% |
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 | -2.96% | -8.44% | +5.48% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -5.48% | -2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 6.38% | -3.53% |
Volatility
TPYP vs. FAI - Volatility Comparison
The current volatility for Tortoise North American Pipeline Fund (TPYP) is 5.25%, while First Trust Bloomberg Artificial Intelligence ETF (FAI) has a volatility of 11.84%. This indicates that TPYP experiences smaller price fluctuations and is considered to be less risky than FAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPYP | FAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | 11.84% | -6.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.78% | 23.56% | -12.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.65% | 27.99% | -14.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 31.12% | -13.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 31.12% | -9.22% |
TPYP vs. FAI - Expense Ratio Comparison
TPYP has a 0.40% expense ratio, which is lower than FAI's 0.65% expense ratio.
Dividends
TPYP vs. FAI - Dividend Comparison
TPYP's dividend yield for the trailing twelve months is around 3.21%, while FAI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAI First Trust Bloomberg Artificial Intelligence ETF | 0.00% | 0.00% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPYP Tortoise North American Pipeline Fund | 3.21% | 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 FAI have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAI has higher volatility (11.84%) compared to TPYP (5.25%). In terms of maximum drawdown, TPYP dropped -51.91% vs FAI's -27.82%.
On 1-year performance, FAI leads with 49.94% vs 26.53% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FAI has performed better with a 49.94% return vs 26.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TPYP is cheaper with a 0.40% expense ratio, compared with 0.65% for FAI.
TPYP has the higher dividend yield at 3.21%, compared with 0.00% for FAI.
TPYP is categorized as Energy Equities, while FAI is Technology Equities. TPYP tracks Tortoise North American Pipeline Index, while FAI tracks Bloomberg Artificial Intelligence Index. They also come from different issuers: Tortoise and First Trust. Their fees differ too: 0.40% for TPYP and 0.65% for FAI.
TPYP currently has the higher Sharpe Ratio (2.00 vs 1.77), 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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