TPYP vs. UMI

Last updated Aug 2, 2026

TPYP (Tortoise North American Pipeline Fund) and UMI (USCF Midstream Energy Income Fund ETF) are both Energy Equities funds. TPYP is passively managed, while UMI is actively managed. Over the past 5 years, TPYP returned 19.53%/yr vs 22.50%/yr for UMI. Their 0.79 correlation means they have sometimes moved together and sometimes differently. TPYP charges 0.40%/yr vs 0.85%/yr for UMI.

Performance

TPYP vs. UMI - Performance Comparison

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

Returns By Period

In the year-to-date period, TPYP achieves a 23.68% return, which is significantly lower than UMI's 26.70% return.

TPYP

• 1D: 0.37%
• 1M: 2.75%
• 6M: 15.48%
• YTD: 23.68%
• 1Y: 25.52%
• 3Y*: 24.31%
• 5Y*: 19.53%
• 10Y*: 11.89%
• ALL TIME*: 9.80%

UMI

• 1D: 0.50%
• 1M: 3.72%
• 6M: 18.07%
• YTD: 26.70%
• 1Y: 28.25%
• 3Y*: 26.23%
• 5Y*: 22.50%
• 10Y*: —
• ALL TIME*: 14.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TPYP Tortoise North American Pipeline Fund	$2.50M	$2.27M	$2.65M
UMI USCF Midstream Energy Income Fund ETF	$1.28M	$1.03M	$1.15M

TPYP vs. UMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPYP Tortoise North American Pipeline Fund	23.68%	7.59%	37.37%	10.51%	16.09%	34.97%	-20.99%	23.35%	-11.13%	5.70%
UMI USCF Midstream Energy Income Fund ETF	26.70%	5.11%	42.97%	14.60%	20.78%	20.97%	-8.25%	21.06%	-10.64%	2.76%

Correlation

The correlation between TPYP and UMI is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.79

The correlation between TPYP and UMI shifts across timeframes, from 0.79 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

TPYP vs. UMI - Sectors Allocation Comparison

Sectors	TPYP	UMI
Energy	69.6%	99.1%
Utilities	21.2%	0.9%
Financial Services	2.4%	-
Industrials	0.1%	-
Basic Materials	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

TPYP vs. UMI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TPYP

TPYP Risk / Return Rank: 79
TPYP Sharpe Ratio Rank: 81
TPYP Sortino Ratio Rank: 79
TPYP Omega Ratio Rank: 76
TPYP Calmar Ratio Rank: 89
TPYP Martin Ratio Rank: 72

UMI

UMI Risk / Return Rank: 83
UMI Sharpe Ratio Rank: 84
UMI Sortino Ratio Rank: 83
UMI Omega Ratio Rank: 81
UMI Calmar Ratio Rank: 90
UMI Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TPYP vs. UMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and USCF Midstream Energy Income Fund ETF (UMI). 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	UMI	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.95	-0.12
Sortino ratio: Return per unit of downside risk	2.56	2.69	-0.13
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.72	3.79	-0.06
Martin ratio: Return relative to average drawdown	8.80	9.51	-0.71

TPYP vs. UMI - Sharpe Ratio Comparison

The current TPYP Sharpe Ratio is 1.83, which is comparable to the UMI Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of TPYP and UMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TPYP vs. UMI - Drawdown Comparison

The maximum TPYP drawdown since its inception was -51.91%, which is greater than UMI's maximum drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for TPYP and UMI.

Drawdown Indicators

	TPYP	UMI	Difference
Max Drawdown Largest peak-to-trough decline	-51.91%	-48.08%	-3.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-7.50%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.17%	-17.08%	+3.91%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-20.05%	+2.09%
Max Drawdown (10Y) Largest decline over 10 years	-51.91%	—	—
Current Drawdown Current decline from peak	-2.89%	-2.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-7.83%	-6.53%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	2.98%	-0.09%

Volatility

TPYP vs. UMI - Volatility Comparison

Tortoise North American Pipeline Fund (TPYP) and USCF Midstream Energy Income Fund ETF (UMI) have volatilities of 5.37% and 5.19%, 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.

Volatility by Period

	TPYP	UMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	5.19%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	11.67%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	14.59%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	19.35%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	23.10%	-1.20%

TPYP vs. UMI - Expense Ratio Comparison

TPYP has a 0.40% expense ratio, which is lower than UMI's 0.85% expense ratio.

Dividends

TPYP vs. UMI - Dividend Comparison

TPYP's dividend yield for the trailing twelve months is around 3.19%, less than UMI's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPYP Tortoise North American Pipeline Fund	3.19%	3.91%	3.95%	4.83%	4.48%	4.86%	6.14%	4.45%	4.58%	3.71%	3.49%	2.56%
UMI USCF Midstream Energy Income Fund ETF	5.80%	6.23%	4.39%	4.67%	4.36%	3.00%	2.18%	2.47%	2.48%	0.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPYP and UMI in my portfolio?

With a correlation of 0.95, TPYP and UMI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TPYP or UMI?

TPYP has higher volatility (5.37%) compared to UMI (5.19%). In terms of maximum drawdown, TPYP dropped -51.91% vs UMI's -48.08%.

Which ETF is better, TPYP or UMI?

On 5-year performance, UMI leads with 22.50% vs 19.53% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, UMI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPYP or UMI?

Over the 5-year period, UMI has performed better with a 22.50% return vs 19.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPYP or UMI?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.85% for UMI.

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

UMI has the higher dividend yield at 5.80%, compared with 3.19% for TPYP.

What is the main difference between TPYP and UMI?

They also come from different issuers: Tortoise and USCF. Their fees differ too: 0.40% for TPYP and 0.85% for UMI.

Which has better risk-adjusted returns?

UMI currently has the higher Sharpe Ratio (1.95 vs 1.83), 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.