TPYP vs. TNUK

Last updated Jun 4, 2026

TPYP (Tortoise North American Pipeline Fund) and TNUK (Tortoise Nuclear Renaissance ETF) are both Energy Equities funds from Tortoise. TPYP is passively managed, while TNUK is actively managed. At a correlation of -0.00, they often move in opposite directions. TPYP charges 0.40%/yr vs 0.75%/yr for TNUK.

Performance

TPYP vs. TNUK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise North American Pipeline Fund (TPYP) and Tortoise Nuclear Renaissance ETF (TNUK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPYP achieves a 20.07% return, which is significantly higher than TNUK's 3.92% 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%

TNUK

• 1D: -2.08%
• 1M: -8.00%
• YTD: 3.92%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TPYP vs. TNUK - Yearly Performance Comparison

	2026 (YTD)	2025
TPYP Tortoise North American Pipeline Fund	20.07%	1.59%
TNUK Tortoise Nuclear Renaissance ETF	3.92%	0.02%

Correlation

The correlation between TPYP and TNUK is -0.00, 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 (All Time) Calculated using the full available price history since Dec 19, 2025	-0.00

Return for Risk

TPYP vs. TNUK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TPYP

TPYP Risk / Return Rank: 49
TPYP Sharpe Ratio Rank: 46
TPYP Sortino Ratio Rank: 44
TPYP Omega Ratio Rank: 42
TPYP Calmar Ratio Rank: 62
TPYP Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TPYP vs. TNUK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and Tortoise Nuclear Renaissance ETF (TNUK). 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	TNUK	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.25	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	3.09	—	—
Martin ratio: Return 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.

Sharpe Ratios by Period

	TPYP	TNUK	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	0.26	+0.16

Drawdowns

TPYP vs. TNUK - Drawdown Comparison

The maximum TPYP drawdown since its inception was -51.91%, which is greater than TNUK's maximum drawdown of -17.94%. Use the drawdown chart below to compare losses from any high point for TPYP and TNUK.

Drawdown Indicators

	TPYP	TNUK	Difference
Max Drawdown Largest peak-to-trough decline	-51.91%	-17.94%	-33.97%
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 Drawdown Current decline from peak	-5.27%	-13.24%	+7.97%
Average Drawdown Average peak-to-trough decline	-7.89%	-7.71%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	—	—

Volatility

Volatility by Period

	TPYP	TNUK	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%	34.22%	-21.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	34.22%	-16.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	34.22%	-12.28%

TPYP vs. TNUK - Expense Ratio Comparison

TPYP has a 0.40% expense ratio, which is lower than TNUK's 0.75% expense ratio.

Dividends

TPYP vs. TNUK - Dividend Comparison

TPYP's dividend yield for the trailing twelve months is around 3.25%, while TNUK has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNUK Tortoise Nuclear Renaissance 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

Can I hold both TPYP and TNUK in my portfolio?

TPYP and TNUK have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TPYP or TNUK?

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.

Which ETF is cheaper, TPYP or TNUK?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.75% for TNUK.

Which ETF pays a higher dividend yield, TPYP or TNUK?

TPYP has the higher dividend yield at 3.25%, compared with 0.00% for TNUK.

What is the main difference between TPYP and TNUK?

Their fees differ too: 0.40% for TPYP and 0.75% for TNUK.