TPZ vs. VDE

Last updated Aug 5, 2026

TPZ (Tortoise Electrification Infrastructure ETF) and VDE (Vanguard Energy ETF) are both exchange-traded funds - TPZ is a Infrastructure Equities fund actively managed by Tortoise, while VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. TPZ is actively managed, while VDE is passively managed. Over the past 10 years, TPZ returned 8.30%/yr vs 9.60%/yr for VDE. Their 0.53 correlation means they have sometimes moved together and sometimes differently. TPZ charges 0.85%/yr vs 0.09%/yr for VDE.

Performance

TPZ vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Electrification Infrastructure ETF (TPZ) and Vanguard Energy ETF (VDE). 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 VDE's 32.88% return. Over the past 10 years, TPZ has underperformed VDE with an annualized return of 8.30%, while VDE has yielded a comparatively higher 9.60% 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%

VDE

• 1D: -0.37%
• 1M: 9.84%
• 6M: 15.00%
• YTD: 32.88%
• 1Y: 41.79%
• 3Y*: 14.18%
• 5Y*: 23.47%
• 10Y*: 9.60%
• ALL TIME*: 8.25%

*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)
TPZ Tortoise Electrification Infrastructure ETF	$293.05K	$219.78K	$220.84K
VDE Vanguard Energy ETF	$78.09M	$74.66M	$108.47M

TPZ vs. VDE - 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%
VDE Vanguard Energy ETF	32.88%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between TPZ and VDE is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Jul 29, 2009	0.53

The correlation between TPZ and VDE shifts across timeframes, from 0.33 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.

TPZ vs. VDE - Sectors Allocation Comparison

Sectors	TPZ	VDE
Energy	51.8%	76.9%
Utilities	43.6%	0.1%
Industrials	4.6%	0.3%
Basic Materials	-	0.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

TPZ vs. VDE — 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

VDE

VDE Risk / Return Rank: 70
VDE Sharpe Ratio Rank: 79
VDE Sortino Ratio Rank: 72
VDE Omega Ratio Rank: 69
VDE Calmar Ratio Rank: 72
VDE 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. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Electrification Infrastructure ETF (TPZ) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio: Return per unit of total volatility	0.28	2.01	-1.73
Sortino ratio: Return per unit of downside risk	0.49	2.59	-2.10
Omega ratio: Gain probability vs. loss probability	1.06	1.32	-0.27
Calmar ratio: Return relative to maximum drawdown	0.60	2.79	-2.19
Martin ratio: Return relative to average drawdown	1.38	7.50	-6.12

TPZ vs. VDE - Sharpe Ratio Comparison

The current TPZ Sharpe Ratio is 0.28, which is lower than the VDE Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of TPZ and VDE, 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. VDE - Drawdown Comparison

The maximum TPZ drawdown since its inception was -78.17%, which is greater than VDE's maximum drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for TPZ and VDE.

Drawdown Indicators

	TPZ	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-78.17%	-74.20%	-3.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-15.04%	+8.41%
Max Drawdown (3Y) Largest decline over 3 years	-17.78%	-21.41%	+3.63%
Max Drawdown (5Y) Largest decline over 5 years	-17.78%	-26.58%	+8.80%
Max Drawdown (10Y) Largest decline over 10 years	-77.04%	-69.29%	-7.75%
Current Drawdown Current decline from peak	-5.57%	-5.98%	+0.41%
Average Drawdown Average peak-to-trough decline	-11.85%	-19.88%	+8.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	5.59%	-2.60%

Volatility

TPZ vs. VDE - Volatility Comparison

The current volatility for Tortoise Electrification Infrastructure ETF (TPZ) is 4.75%, while Vanguard Energy ETF (VDE) has a volatility of 6.28%. This indicates that TPZ experiences smaller price fluctuations and is considered to be less risky than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPZ	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	6.28%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	11.20%	16.59%	-5.39%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	20.89%	-6.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	26.11%	-8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.73%	29.91%	-2.18%

TPZ vs. VDE - Expense Ratio Comparison

TPZ has a 0.85% expense ratio, which is higher than VDE's 0.09% expense ratio.

Dividends

TPZ vs. VDE - Dividend Comparison

TPZ's dividend yield for the trailing twelve months is around 3.49%, more than VDE's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VDE Vanguard Energy ETF	2.44%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both TPZ and VDE in my portfolio?

TPZ and VDE have a correlation of 0.33, 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 VDE?

VDE has higher volatility (6.28%) compared to TPZ (4.75%). In terms of maximum drawdown, TPZ dropped -78.17% vs VDE's -74.20%.

Which ETF is better, TPZ or VDE?

On 10-year performance, VDE leads with 9.60% vs 8.30% for TPZ. On fees, VDE is cheaper at 0.09% per year. On volatility, TPZ has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPZ or VDE?

Over the 10-year period, VDE has performed better with a 9.60% return vs 8.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPZ or VDE?

VDE is cheaper with a 0.09% expense ratio, compared with 0.85% for TPZ.

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

TPZ has the higher dividend yield at 3.49%, compared with 2.44% for VDE.

What is the main difference between TPZ and VDE?

TPZ is categorized as Infrastructure Equities, while VDE is Energy Equities. They also come from different issuers: Tortoise and Vanguard. Their fees differ too: 0.85% for TPZ and 0.09% for VDE.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (2.01 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.