TPZ vs. TOLZ

Last updated Aug 5, 2026

TPZ (Tortoise Electrification Infrastructure ETF) and TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) are both Infrastructure Equities funds. TPZ is actively managed, while TOLZ is passively managed. Over the past 10 years, TPZ returned 8.30%/yr vs 7.43%/yr for TOLZ. Their 0.56 correlation means they have sometimes moved together and sometimes differently. TPZ charges 0.85%/yr vs 0.46%/yr for TOLZ.

Performance

TPZ vs. TOLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Electrification Infrastructure ETF (TPZ) and ProShares DJ Brookfield Global Infrastructure ETF (TOLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPZ achieves a 6.91% return, which is significantly lower than TOLZ's 12.07% return. Over the past 10 years, TPZ has outperformed TOLZ with an annualized return of 8.30%, while TOLZ has yielded a comparatively lower 7.43% annualized return.

TPZ

• 1D: -0.44%
• 1M: -1.48%
• 6M: 3.90%
• YTD: 6.91%
• 1Y: 3.96%
• 3Y*: 22.25%
• 5Y*: 18.69%
• 10Y*: 8.30%
• ALL TIME*: 7.92%

TOLZ

• 1D: 0.13%
• 1M: 0.13%
• 6M: 6.60%
• YTD: 12.07%
• 1Y: 14.23%
• 3Y*: 14.88%
• 5Y*: 8.66%
• 10Y*: 7.43%
• ALL TIME*: 6.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	$774.44K	$1.51M	$1.37M
TPZ Tortoise Electrification Infrastructure ETF	$293.05K	$219.78K	$220.84K

TPZ vs. TOLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPZ Tortoise Electrification Infrastructure ETF	6.91%	5.67%	53.88%	20.72%	2.44%	29.31%	-27.84%	15.61%	-16.12%	-0.30%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	12.07%	14.76%	11.67%	6.18%	-4.25%	20.47%	-9.46%	26.84%	-7.90%	13.28%

Correlation

The correlation between TPZ and TOLZ is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014	0.56

The correlation between TPZ and TOLZ has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

TPZ vs. TOLZ - Sectors Allocation Comparison

Sectors	TPZ	TOLZ
Energy	51.8%	36.4%
Utilities	43.6%	24.2%
Industrials	4.6%	4.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.8%
Consumer Defensive	-	4.1%
Financial Services	-	2.0%
Healthcare	-	-
Real Estate	-	6.9%
Technology	-	0.7%

Return for Risk

TPZ vs. TOLZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TPZ

TPZ Risk / Return Rank: 17
TPZ Sharpe Ratio Rank: 16
TPZ Sortino Ratio Rank: 15
TPZ Omega Ratio Rank: 14
TPZ Calmar Ratio Rank: 19
TPZ Martin Ratio Rank: 19

TOLZ

TOLZ Risk / Return Rank: 53
TOLZ Sharpe Ratio Rank: 48
TOLZ Sortino Ratio Rank: 48
TOLZ Omega Ratio Rank: 44
TOLZ Calmar Ratio Rank: 70
TOLZ Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TPZ vs. TOLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Electrification Infrastructure ETF (TPZ) and ProShares DJ Brookfield Global Infrastructure ETF (TOLZ). 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	TOLZ	Difference
Sharpe ratio: Return per unit of total volatility	0.28	1.34	-1.06
Sortino ratio: Return per unit of downside risk	0.49	1.96	-1.47
Omega ratio: Gain probability vs. loss probability	1.06	1.23	-0.17
Calmar ratio: Return relative to maximum drawdown	0.60	2.76	-2.16
Martin ratio: Return relative to average drawdown	1.38	7.60	-6.22

TPZ vs. TOLZ - Sharpe Ratio Comparison

The current TPZ Sharpe Ratio is 0.28, which is lower than the TOLZ Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of TPZ and TOLZ, 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. TOLZ - Drawdown Comparison

The maximum TPZ drawdown since its inception was -78.17%, which is greater than TOLZ's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for TPZ and TOLZ.

Drawdown Indicators

	TPZ	TOLZ	Difference
Max Drawdown Largest peak-to-trough decline	-78.17%	-39.33%	-38.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-5.18%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-9.26%	-8.52%
Max Drawdown (5Y) Largest decline over 5 years	-17.78%	-21.85%	+4.07%
Max Drawdown (10Y) Largest decline over 10 years	-77.04%	-39.33%	-37.71%
Current Drawdown Current decline from peak	-5.57%	-2.47%	-3.10%
Average Drawdown Average peak-to-trough decline	-11.85%	-6.57%	-5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.88%	+1.11%

Volatility

TPZ vs. TOLZ - Volatility Comparison

Tortoise Electrification Infrastructure ETF (TPZ) has a higher volatility of 4.75% compared to ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) at 3.15%. This indicates that TPZ's price experiences larger fluctuations and is considered to be riskier than TOLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPZ	TOLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	3.15%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	11.20%	8.72%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	10.69%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	14.03%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.73%	16.24%	+11.49%

TPZ vs. TOLZ - Expense Ratio Comparison

TPZ has a 0.85% expense ratio, which is higher than TOLZ's 0.46% expense ratio.

Dividends

TPZ vs. TOLZ - Dividend Comparison

TPZ's dividend yield for the trailing twelve months is around 3.49%, more than TOLZ's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	2.97%	3.99%	3.53%	3.34%	3.01%	3.28%	3.16%	2.96%	3.63%	3.30%	2.62%	3.67%
TPZ Tortoise Electrification Infrastructure ETF	3.49%	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 TOLZ in my portfolio?

TPZ and TOLZ have a correlation of 0.63, 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 TOLZ?

TPZ has higher volatility (4.75%) compared to TOLZ (3.15%). In terms of maximum drawdown, TPZ dropped -78.17% vs TOLZ's -39.33%.

Which ETF is better, TPZ or TOLZ?

On 10-year performance, TPZ leads with 8.30% vs 7.43% for TOLZ. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPZ or TOLZ?

Over the 10-year period, TPZ has performed better with a 8.30% return vs 7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPZ or TOLZ?

TOLZ is cheaper with a 0.46% expense ratio, compared with 0.85% for TPZ.

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

TPZ has the higher dividend yield at 3.49%, compared with 2.97% for TOLZ.

What is the main difference between TPZ and TOLZ?

They also come from different issuers: Tortoise and ProShares. Their fees differ too: 0.85% for TPZ and 0.46% for TOLZ.

Which has better risk-adjusted returns?

TOLZ currently has the higher Sharpe Ratio (1.34 vs 0.28), 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.