TPYP vs. VOLT

Last updated Jun 4, 2026

TPYP (Tortoise North American Pipeline Fund) and VOLT (Tema Electrification ETF) are both Energy Equities funds. TPYP is passively managed, while VOLT is actively managed. Over the past year, TPYP returned 21.07% vs 65.79% for VOLT. At a 0.34 correlation, their price movements are largely independent. TPYP charges 0.40%/yr vs 0.75%/yr for VOLT.

Performance

TPYP vs. VOLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise North American Pipeline Fund (TPYP) and Tema Electrification ETF (VOLT). 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 lower than VOLT's 37.23% 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%

VOLT

• 1D: 0.16%
• 1M: -2.25%
• YTD: 37.23%
• 6M: 34.70%
• 1Y: 65.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPYP vs. VOLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TPYP Tortoise North American Pipeline Fund	20.07%	7.59%	-3.72%
VOLT Tema Electrification ETF	37.23%	25.92%	-8.86%

Correlation

The correlation between TPYP and VOLT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.34

The correlation between TPYP and VOLT shifts across timeframes, from 0.14 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

TPYP vs. VOLT - Sectors Allocation Comparison

Sectors	TPYP	VOLT
Energy	68.8%	5.0%
Utilities	22.0%	31.2%
Financial Services	2.4%	0.5%
Basic Materials	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	3.5%
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	48.1%
Real Estate	-	-
Technology	-	11.0%

Return for Risk

TPYP vs. VOLT — 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

VOLT

VOLT Risk / Return Rank: 89
VOLT Sharpe Ratio Rank: 91
VOLT Sortino Ratio Rank: 88
VOLT Omega Ratio Rank: 85
VOLT Calmar Ratio Rank: 94
VOLT Martin Ratio Rank: 89

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. VOLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise North American Pipeline Fund (TPYP) and Tema Electrification ETF (VOLT). 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	VOLT	Difference
Sharpe ratio: Return per unit of total volatility	1.61	3.25	-1.64
Sortino ratio: Return per unit of downside risk	2.25	4.07	-1.82
Omega ratio: Gain probability vs. loss probability	1.28	1.53	-0.25
Calmar ratio: Return relative to maximum drawdown	3.09	7.38	-4.28
Martin ratio: Return relative to average drawdown	8.34	20.55	-12.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPYP vs. VOLT - Sharpe Ratio Comparison

The current TPYP Sharpe Ratio is 1.61, which is lower than the VOLT Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of TPYP and VOLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TPYP	VOLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	3.25	-1.64
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	1.49	-1.06

Drawdowns

TPYP vs. VOLT - Drawdown Comparison

The maximum TPYP drawdown since its inception was -51.91%, which is greater than VOLT's maximum drawdown of -23.40%. Use the drawdown chart below to compare losses from any high point for TPYP and VOLT.

Drawdown Indicators

	TPYP	VOLT	Difference
Max Drawdown Largest peak-to-trough decline	-51.91%	-23.40%	-28.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-8.96%	+2.12%
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%	-4.12%	-1.15%
Average Drawdown Average peak-to-trough decline	-7.89%	-5.17%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.21%	-0.65%

Volatility

TPYP vs. VOLT - Volatility Comparison

The current volatility for Tortoise North American Pipeline Fund (TPYP) is 5.67%, while Tema Electrification ETF (VOLT) has a volatility of 7.84%. This indicates that TPYP experiences smaller price fluctuations and is considered to be less risky than VOLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPYP	VOLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	7.84%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	17.12%	-6.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.16%	20.39%	-7.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	24.11%	-6.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	24.11%	-2.17%

TPYP vs. VOLT - Expense Ratio Comparison

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

Dividends

TPYP vs. VOLT - Dividend Comparison

TPYP's dividend yield for the trailing twelve months is around 3.25%, more than VOLT's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOLT Tema Electrification ETF	0.33%	0.46%	0.01%	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 VOLT in my portfolio?

TPYP and VOLT have a correlation of 0.14, 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 VOLT?

VOLT has higher volatility (7.84%) compared to TPYP (5.67%). In terms of maximum drawdown, TPYP dropped -51.91% vs VOLT's -23.40%.

Which ETF is better, TPYP or VOLT?

On 1-year performance, VOLT leads with 65.79% vs 21.07% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPYP or VOLT?

Over the 1-year period, VOLT has performed better with a 65.79% return vs 21.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPYP or VOLT?

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

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

TPYP has the higher dividend yield at 3.25%, compared with 0.33% for VOLT.

What is the main difference between TPYP and VOLT?

They also come from different issuers: Tortoise and Tema. Their fees differ too: 0.40% for TPYP and 0.75% for VOLT.

Which has better risk-adjusted returns?

VOLT currently has the higher Sharpe Ratio (3.25 vs 1.61), 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.