TPZ vs. EIPX

Last updated Jul 16, 2026

TPZ (Tortoise Electrification Infrastructure ETF) and EIPX (FT Energy Income Partners Strategy ETF) are both Energy Equities funds. Both are actively managed. Over the past 3 years, TPZ returned 25.29%/yr vs 20.23%/yr for EIPX. A 0.71 correlation means they provide meaningful diversification when combined. TPZ charges 0.85%/yr vs 0.95%/yr for EIPX.

Performance

TPZ vs. EIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Electrification Infrastructure ETF (TPZ) and FT Energy Income Partners Strategy ETF (EIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPZ achieves a 10.26% return, which is significantly lower than EIPX's 22.79% return.

TPZ

• 1D: -0.81%
• 1M: 2.31%
• 6M: 8.81%
• YTD: 10.26%
• 1Y: 12.99%
• 3Y*: 25.29%
• 5Y*: 17.99%
• 10Y*: 8.71%

EIPX

• 1D: -0.83%
• 1M: 1.89%
• 6M: 18.01%
• YTD: 22.79%
• 1Y: 28.50%
• 3Y*: 20.23%
• 5Y*: —
• 10Y*: —

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

TPZ vs. EIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TPZ Tortoise Electrification Infrastructure ETF	10.26%	5.67%	53.88%	20.72%	-1.53%
EIPX FT Energy Income Partners Strategy ETF	22.79%	11.44%	19.11%	10.74%	1.77%

Correlation

The correlation between TPZ and EIPX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.71

The correlation between TPZ and EIPX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

Return for Risk

TPZ vs. EIPX — Risk / Return Rank

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

TPZ

TPZ Risk / Return Rank: 35
TPZ Sharpe Ratio Rank: 31
TPZ Sortino Ratio Rank: 30
TPZ Omega Ratio Rank: 28
TPZ Calmar Ratio Rank: 49
TPZ Martin Ratio Rank: 36

EIPX

EIPX Risk / Return Rank: 91
EIPX Sharpe Ratio Rank: 91
EIPX Sortino Ratio Rank: 92
EIPX Omega Ratio Rank: 87
EIPX Calmar Ratio Rank: 94
EIPX 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.

TPZ vs. EIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Electrification Infrastructure ETF (TPZ) and FT Energy Income Partners Strategy ETF (EIPX). 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.

	TPZ	EIPX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.50	-1.55
Sortino ratio: Return per unit of downside risk	1.40	3.58	-2.18
Omega ratio: Gain probability vs. loss probability	1.17	1.42	-0.25
Calmar ratio: Return relative to maximum drawdown	2.07	5.54	-3.46
Martin ratio: Return relative to average drawdown	4.58	15.41	-10.83

TPZ vs. EIPX - Sharpe Ratio Comparison

The current TPZ Sharpe Ratio is 0.95, which is lower than the EIPX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of TPZ and EIPX, 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

TPZ vs. EIPX - Drawdown Comparison

The maximum TPZ drawdown since its inception was -78.17%, which is greater than EIPX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for TPZ and EIPX.

Drawdown Indicators

	TPZ	EIPX	Difference
Max Drawdown Largest peak-to-trough decline	-78.17%	-15.43%	-62.74%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-5.17%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-15.43%	-2.35%
Max Drawdown (5Y) Largest decline over 5 years	-17.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.04%	—	—
Current Drawdown Current decline from peak	-2.62%	-1.92%	-0.70%
Average Drawdown Average peak-to-trough decline	-11.88%	-2.30%	-9.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	1.85%	+0.99%

Volatility

TPZ vs. EIPX - Volatility Comparison

The current volatility for Tortoise Electrification Infrastructure ETF (TPZ) is 3.93%, while FT Energy Income Partners Strategy ETF (EIPX) has a volatility of 4.22%. This indicates that TPZ experiences smaller price fluctuations and is considered to be less risky than EIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPZ	EIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	4.22%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	8.82%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	11.47%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	15.01%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.70%	15.01%	+12.69%

TPZ vs. EIPX - Expense Ratio Comparison

TPZ has a 0.85% expense ratio, which is lower than EIPX's 0.95% expense ratio.

Dividends

TPZ vs. EIPX - Dividend Comparison

TPZ's dividend yield for the trailing twelve months is around 3.69%, more than EIPX's 2.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPX FT Energy Income Partners Strategy ETF	2.73%	3.23%	3.27%	3.48%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPZ Tortoise Electrification Infrastructure ETF	3.69%	3.99%	5.88%	8.99%	9.52%	4.77%	8.80%	8.84%	9.41%	7.28%	6.88%	9.68%

Frequently Asked Questions

Can I hold both TPZ and EIPX in my portfolio?

TPZ and EIPX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPZ or EIPX?

EIPX has higher volatility (4.22%) compared to TPZ (3.93%). In terms of maximum drawdown, TPZ dropped -78.17% vs EIPX's -15.43%.

Which ETF is better, TPZ or EIPX?

On 3-year performance, TPZ leads with 25.29% vs 20.23% for EIPX. On fees, TPZ is cheaper at 0.85% per year. On volatility, TPZ has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPZ or EIPX?

Over the 3-year period, TPZ has performed better with a 25.29% return vs 20.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPZ or EIPX?

TPZ is cheaper with a 0.85% expense ratio, compared with 0.95% for EIPX.

Which ETF pays a higher dividend yield, TPZ or EIPX?

TPZ has the higher dividend yield at 3.69%, compared with 2.73% for EIPX.

What is the main difference between TPZ and EIPX?

They also come from different issuers: Tortoise and First Trust. Their fees differ too: 0.85% for TPZ and 0.95% for EIPX.

Which has better risk-adjusted returns?

EIPX currently has the higher Sharpe Ratio (2.50 vs 0.95), 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.