TPZ vs. FENY
TPZ (Tortoise Electrification Infrastructure ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds. TPZ is actively managed, while FENY is passively managed. Over the past 10 years, TPZ returned 8.71%/yr vs 8.73%/yr for FENY. A 0.57 correlation means they provide meaningful diversification when combined. TPZ charges 0.85%/yr vs 0.08%/yr for FENY.
Performance
TPZ vs. FENY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TPZ achieves a 10.26% return, which is significantly lower than FENY's 28.29% return. Both investments have delivered pretty close results over the past 10 years, with TPZ having a 8.71% annualized return and FENY not far ahead at 8.73%.
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%
FENY
- 1D
- -0.85%
- 1M
- 2.43%
- 6M
- 19.38%
- YTD
- 28.29%
- 1Y
- 34.59%
- 3Y*
- 15.55%
- 5Y*
- 22.74%
- 10Y*
- 8.73%
TPZ vs. FENY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPZ Tortoise Electrification Infrastructure ETF | 10.26% | 5.67% | 53.88% | 20.72% | 2.44% | 29.31% | -27.84% | 15.61% | -16.12% | -0.30% |
FENY Fidelity MSCI Energy Index ETF | 28.29% | 7.27% | 6.62% | -0.04% | 62.94% | 55.62% | -33.15% | 9.11% | -19.99% | -2.30% |
Correlation
The correlation between TPZ and FENY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.57 |
Over the past year, the correlation between TPZ and FENY has dropped to 0.32 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TPZ vs. FENY — Risk / Return Rank
TPZ
FENY
TPZ vs. FENY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Electrification Infrastructure ETF (TPZ) and Fidelity MSCI Energy Index ETF (FENY). 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 | FENY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.32 | -0.25 |
| Martin ratioReturn relative to average drawdown | 4.58 | 6.34 | -1.76 |
Loading charts...
Drawdowns
TPZ vs. FENY - Drawdown Comparison
The maximum TPZ drawdown since its inception was -78.17%, which is greater than FENY's maximum drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for TPZ and FENY.
Loading charts...
Drawdown Indicators
| TPZ | FENY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.17% | -74.35% | -3.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -14.96% | +8.67% |
Max Drawdown (3Y)Largest decline over 3 years | -17.78% | -21.47% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.78% | -26.64% | +8.86% |
Max Drawdown (10Y)Largest decline over 10 years | -77.04% | -69.07% | -7.97% |
Current DrawdownCurrent decline from peak | -2.62% | -9.17% | +6.55% |
Average DrawdownAverage peak-to-trough decline | -11.88% | -23.01% | +11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 5.47% | -2.63% |
Volatility
TPZ vs. FENY - Volatility Comparison
The current volatility for Tortoise Electrification Infrastructure ETF (TPZ) is 3.93%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 6.99%. This indicates that TPZ experiences smaller price fluctuations and is considered to be less risky than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TPZ | FENY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 6.99% | -3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 16.58% | -5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 20.88% | -7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 26.34% | -8.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.70% | 29.79% | -2.09% |
TPZ vs. FENY - Expense Ratio Comparison
TPZ has a 0.85% expense ratio, which is higher than FENY's 0.08% expense ratio.
Dividends
TPZ vs. FENY - Dividend Comparison
TPZ's dividend yield for the trailing twelve months is around 3.69%, more than FENY's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 2.48% | 3.18% | 3.05% | 3.33% | 3.33% | 3.69% | 4.60% | 6.43% | 3.21% | 2.94% | 2.29% | 3.05% |
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
TPZ and FENY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FENY has higher volatility (6.99%) compared to TPZ (3.93%). In terms of maximum drawdown, TPZ dropped -78.17% vs FENY's -74.35%.
On 10-year performance, FENY leads with 8.73% vs 8.71% for TPZ. On fees, FENY is cheaper at 0.08% 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.
Over the 10-year period, FENY has performed better with a 8.73% return vs 8.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FENY is cheaper with a 0.08% expense ratio, compared with 0.85% for TPZ.
TPZ has the higher dividend yield at 3.69%, compared with 2.48% for FENY.
They also come from different issuers: Tortoise and Fidelity. Their fees differ too: 0.85% for TPZ and 0.08% for FENY.
FENY currently has the higher Sharpe Ratio (1.67 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.
Find the right allocation for TPZ and FENY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer