TPZ vs. TMLP
TPZ (Tortoise Electrification Infrastructure ETF) and TMLP (Tortoise MLP ETF) are both exchange-traded funds - TPZ is a Energy Equities fund actively managed by Tortoise, while TMLP is a MLPs fund tracking the Tortoise MLP Index. TPZ is actively managed, while TMLP is passively managed. At a 0.46 correlation, their price movements are largely independent. TPZ charges 0.85%/yr vs 0.50%/yr for TMLP.
Performance
TPZ vs. TMLP - Performance Comparison
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Returns By Period
In the year-to-date period, TPZ achieves a 10.26% return, which is significantly lower than TMLP's 17.21% 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%
TMLP
- 1D
- -1.24%
- 1M
- 3.07%
- 6M
- 13.67%
- YTD
- 17.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPZ vs. TMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TPZ Tortoise Electrification Infrastructure ETF | 10.26% | 0.23% |
TMLP Tortoise MLP ETF | 17.21% | 0.01% |
Correlation
The correlation between TPZ and TMLP is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025 | 0.46 |
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Return for Risk
TPZ vs. TMLP — Risk / Return Rank
TPZ
TMLP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TPZ vs. TMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Electrification Infrastructure ETF (TPZ) and Tortoise MLP ETF (TMLP). 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 | TMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | — | — |
| Martin ratioReturn relative to average drawdown | 4.58 | — | — |
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Drawdowns
TPZ vs. TMLP - Drawdown Comparison
The maximum TPZ drawdown since its inception was -78.17%, which is greater than TMLP's maximum drawdown of -8.55%. Use the drawdown chart below to compare losses from any high point for TPZ and TMLP.
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Drawdown Indicators
| TPZ | TMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.17% | -8.55% | -69.62% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.78% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -77.04% | — | — |
Current DrawdownCurrent decline from peak | -2.62% | -4.17% | +1.55% |
Average DrawdownAverage peak-to-trough decline | -11.88% | -2.20% | -9.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | — | — |
Volatility
TPZ vs. TMLP - Volatility Comparison
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Volatility by Period
| TPZ | TMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 14.42% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 14.42% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.70% | 14.42% | +13.28% |
TPZ vs. TMLP - Expense Ratio Comparison
TPZ has a 0.85% expense ratio, which is higher than TMLP's 0.50% expense ratio.
Dividends
TPZ vs. TMLP - Dividend Comparison
TPZ's dividend yield for the trailing twelve months is around 3.69%, less than TMLP's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMLP Tortoise MLP ETF | 3.82% | 0.04% | 0.00% | 0.00% | 0.00% | 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
TPZ and TMLP have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TMLP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TMLP is cheaper with a 0.50% expense ratio, compared with 0.85% for TPZ.
TMLP has the higher dividend yield at 3.82%, compared with 3.69% for TPZ.
TPZ is categorized as Energy Equities, while TMLP is MLPs. Their fees differ too: 0.85% for TPZ and 0.50% for TMLP.
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