TPYP vs. MPLX
TPYP (Tortoise North American Pipeline Fund) is Energy Equities fund tracking the Tortoise North American Pipeline Index, while MPLX (MPLX LP) is a stock. Over the past 10 years, TPYP returned 11.82%/yr vs 15.49%/yr for MPLX. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
TPYP vs. MPLX - Performance Comparison
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Returns By Period
In the year-to-date period, TPYP achieves a 20.86% return, which is significantly higher than MPLX's 9.52% return. Over the past 10 years, TPYP has underperformed MPLX with an annualized return of 11.82%, while MPLX has yielded a comparatively higher 15.49% annualized return.
TPYP
- 1D
- -0.62%
- 1M
- -4.17%
- YTD
- 20.86%
- 6M
- 20.79%
- 1Y
- 23.45%
- 3Y*
- 25.93%
- 5Y*
- 18.00%
- 10Y*
- 11.82%
MPLX
- 1D
- -2.51%
- 1M
- -0.43%
- YTD
- 9.52%
- 6M
- 8.18%
- 1Y
- 17.34%
- 3Y*
- 29.36%
- 5Y*
- 24.43%
- 10Y*
- 15.49%
TPYP vs. MPLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPYP Tortoise North American Pipeline Fund | 20.86% | 7.59% | 37.37% | 10.51% | 16.09% | 34.97% | -20.99% | 23.35% | -11.13% | 2.27% |
MPLX MPLX LP | 9.52% | 20.54% | 41.72% | 22.46% | 21.09% | 53.92% | -1.79% | -8.25% | -8.43% | 9.00% |
Correlation
The correlation between TPYP and MPLX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.65 |
The correlation between TPYP and MPLX shifts across timeframes, from 0.56 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TPYP vs. MPLX — Risk / Return Rank
TPYP
MPLX
TPYP vs. MPLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and MPLX LP (MPLX). 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 | MPLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 2.26 | +1.19 |
| Martin ratioReturn relative to average drawdown | 8.44 | 5.22 | +3.22 |
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Drawdowns
TPYP vs. MPLX - Drawdown Comparison
The maximum TPYP drawdown since its inception was -51.91%, smaller than the maximum MPLX drawdown of -85.72%. Use the drawdown chart below to compare losses from any high point for TPYP and MPLX.
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Drawdown Indicators
| TPYP | MPLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.91% | -85.72% | +33.81% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -7.71% | +0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -14.58% | +1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -18.46% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -51.91% | -75.21% | +23.30% |
Current DrawdownCurrent decline from peak | -4.64% | -3.12% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -29.89% | +22.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.33% | -0.54% |
Volatility
TPYP vs. MPLX - Volatility Comparison
Tortoise North American Pipeline Fund (TPYP) and MPLX LP (MPLX) have volatilities of 5.23% and 5.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPYP | MPLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 5.36% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 11.57% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.34% | 16.02% | -2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 19.38% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 30.62% | -8.69% |
Dividends
TPYP vs. MPLX - Dividend Comparison
TPYP's dividend yield for the trailing twelve months is around 3.23%, less than MPLX's 7.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPLX MPLX LP | 7.44% | 7.39% | 7.33% | 8.65% | 8.80% | 11.30% | 12.70% | 10.41% | 8.22% | 6.23% | 5.86% | 4.33% |
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% |
Frequently Asked Questions
TPYP and MPLX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPLX has higher volatility (5.36%) compared to TPYP (5.23%). In terms of maximum drawdown, TPYP dropped -51.91% vs MPLX's -85.72%.
TPYP currently has the higher Sharpe Ratio (1.77 vs 1.09), 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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