TPYP vs. USNG

Last updated Jun 24, 2026

TPYP (Tortoise North American Pipeline Fund) and USNG (Amplify Samsung U.S. Natural Gas Infrastructure ETF) are both Energy Equities funds. TPYP is passively managed, while USNG is actively managed. Over the past year, TPYP returned 24.89% vs 47.43% for USNG. A 0.67 correlation means they provide meaningful diversification when combined. TPYP charges 0.40%/yr vs 0.59%/yr for USNG.

Performance

TPYP vs. USNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise North American Pipeline Fund (TPYP) and Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPYP achieves a 21.62% return, which is significantly lower than USNG's 36.17% return.

TPYP

• 1D: 1.30%
• 1M: -3.57%
• YTD: 21.62%
• 6M: 21.85%
• 1Y: 24.89%
• 3Y*: 26.20%
• 5Y*: 18.21%
• 10Y*: 11.89%

USNG

• 1D: -0.48%
• 1M: -0.64%
• YTD: 36.17%
• 6M: 36.35%
• 1Y: 47.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPYP vs. USNG - Yearly Performance Comparison

	2026 (YTD)	2025
TPYP Tortoise North American Pipeline Fund	21.62%	2.39%
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	36.17%	10.51%

Correlation

The correlation between TPYP and USNG is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since May 20, 2025	0.67

The correlation between TPYP and USNG has been stable across timeframes, ranging from 0.66 to 0.67 - a consistent structural relationship.

TPYP vs. USNG - Sectors Allocation Comparison

Sectors	TPYP	USNG
Energy	68.8%	79.2%
Utilities	22.0%	4.7%
Financial Services	2.4%	1.8%
Basic Materials	0.1%	1.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	12.8%
Real Estate	-	-
Technology	-	-

Return for Risk

TPYP vs. USNG — Risk / Return Rank

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

TPYP

TPYP Risk / Return Rank: 60
TPYP Sharpe Ratio Rank: 59
TPYP Sortino Ratio Rank: 59
TPYP Omega Ratio Rank: 54
TPYP Calmar Ratio Rank: 75
TPYP Martin Ratio Rank: 55

USNG

USNG Risk / Return Rank: 91
USNG Sharpe Ratio Rank: 91
USNG Sortino Ratio Rank: 91
USNG Omega Ratio Rank: 86
USNG Calmar Ratio Rank: 95
USNG Martin Ratio Rank: 93

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. USNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG). 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	USNG	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.86	-0.99
Sortino ratio: Return per unit of downside risk	2.61	3.85	-1.24
Omega ratio: Gain probability vs. loss probability	1.32	1.48	-0.16
Calmar ratio: Return relative to maximum drawdown	3.66	6.99	-3.34
Martin ratio: Return relative to average drawdown	9.01	21.05	-12.04

TPYP vs. USNG - Sharpe Ratio Comparison

The current TPYP Sharpe Ratio is 1.88, which is lower than the USNG Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of TPYP and USNG, 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. USNG - Drawdown Comparison

The maximum TPYP drawdown since its inception was -51.91%, which is greater than USNG's maximum drawdown of -6.82%. Use the drawdown chart below to compare losses from any high point for TPYP and USNG.

Drawdown Indicators

	TPYP	USNG	Difference
Max Drawdown Largest peak-to-trough decline	-51.91%	-6.82%	-45.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-6.82%	-0.02%
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	-4.04%	-0.64%	-3.40%
Average Drawdown Average peak-to-trough decline	-7.88%	-1.52%	-6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.26%	+0.51%

Volatility

TPYP vs. USNG - Volatility Comparison

The current volatility for Tortoise North American Pipeline Fund (TPYP) is 5.29%, while Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) has a volatility of 6.29%. This indicates that TPYP experiences smaller price fluctuations and is considered to be less risky than USNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPYP	USNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	6.29%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	10.38%	12.47%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	16.68%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	16.61%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	16.61%	+5.32%

TPYP vs. USNG - Expense Ratio Comparison

TPYP has a 0.40% expense ratio, which is lower than USNG's 0.59% expense ratio.

Dividends

TPYP vs. USNG - Dividend Comparison

TPYP's dividend yield for the trailing twelve months is around 3.21%, more than USNG's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	1.09%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPYP and USNG in my portfolio?

TPYP and USNG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPYP or USNG?

USNG has higher volatility (6.29%) compared to TPYP (5.29%). In terms of maximum drawdown, TPYP dropped -51.91% vs USNG's -6.82%.

Which ETF is better, TPYP or USNG?

On 1-year performance, USNG leads with 47.43% vs 24.89% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPYP or USNG?

Over the 1-year period, USNG has performed better with a 47.43% return vs 24.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPYP or USNG?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.59% for USNG.

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

TPYP has the higher dividend yield at 3.21%, compared with 1.09% for USNG.

What is the main difference between TPYP and USNG?

They also come from different issuers: Tortoise and Amplify. Their fees differ too: 0.40% for TPYP and 0.59% for USNG.

Which has better risk-adjusted returns?

USNG currently has the higher Sharpe Ratio (2.86 vs 1.88), 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.