TYG vs. CII

Last updated Jun 4, 2026

TYG (Tortoise Energy Infrastructure Closed Fund) and CII (BlackRock Enhanced Large Cap Core Fund) are both mutual funds - TYG is a MLPs fund actively managed by Tortoise, while CII is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past 10 years, TYG returned -1.19%/yr vs 15.30%/yr for CII. At a 0.35 correlation, their price movements are largely independent. TYG charges 2.90%/yr vs 0.91%/yr for CII.

Performance

TYG vs. CII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Energy Infrastructure Closed Fund (TYG) and BlackRock Enhanced Large Cap Core Fund (CII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TYG achieves a 12.81% return, which is significantly higher than CII's 11.56% return. Over the past 10 years, TYG has underperformed CII with an annualized return of -1.19%, while CII has yielded a comparatively higher 15.30% annualized return.

TYG

• 1D: -1.17%
• 1M: -11.67%
• YTD: 12.81%
• 6M: 7.85%
• 1Y: 18.81%
• 3Y*: 28.24%
• 5Y*: 19.47%
• 10Y*: -1.19%

CII

• 1D: -0.75%
• 1M: 5.35%
• YTD: 11.56%
• 6M: 14.11%
• 1Y: 45.68%
• 3Y*: 24.00%
• 5Y*: 14.64%
• 10Y*: 15.30%

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

TYG vs. CII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TYG Tortoise Energy Infrastructure Closed Fund	12.81%	8.46%	60.18%	-0.37%	24.20%	46.86%	-70.31%	1.79%	-24.74%	3.17%
CII BlackRock Enhanced Large Cap Core Fund	11.56%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	30.46%	-8.60%	27.73%

Correlation

The correlation between TYG and CII is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since May 27, 2004	0.35

Over the past year, the correlation between TYG and CII has dropped to 0.13 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

Return for Risk

TYG vs. CII — Risk / Return Rank

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

TYG

TYG Risk / Return Rank: 15
TYG Sharpe Ratio Rank: 13
TYG Sortino Ratio Rank: 12
TYG Omega Ratio Rank: 14
TYG Calmar Ratio Rank: 19
TYG Martin Ratio Rank: 19

CII

CII Risk / Return Rank: 85
CII Sharpe Ratio Rank: 91
CII Sortino Ratio Rank: 85
CII Omega Ratio Rank: 79
CII Calmar Ratio Rank: 84
CII Martin Ratio Rank: 84

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.

TYG vs. CII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Energy Infrastructure Closed Fund (TYG) and BlackRock Enhanced Large Cap Core Fund (CII). 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.

	TYG	CII	Difference
Sharpe ratio: Return per unit of total volatility	0.97	3.05	-2.08
Sortino ratio: Return per unit of downside risk	1.37	4.01	-2.64
Omega ratio: Gain probability vs. loss probability	1.19	1.52	-0.33
Calmar ratio: Return relative to maximum drawdown	1.62	3.93	-2.32
Martin ratio: Return relative to average drawdown	5.20	16.07	-10.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYG vs. CII - Sharpe Ratio Comparison

The current TYG Sharpe Ratio is 0.97, which is lower than the CII Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of TYG and CII, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TYG	CII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	3.05	-2.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.86	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.02	0.83	-0.85
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.54	-0.44

Drawdowns

TYG vs. CII - Drawdown Comparison

The maximum TYG drawdown since its inception was -95.34%, which is greater than CII's maximum drawdown of -56.43%. Use the drawdown chart below to compare losses from any high point for TYG and CII.

Drawdown Indicators

	TYG	CII	Difference
Max Drawdown Largest peak-to-trough decline	-95.34%	-56.43%	-38.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-11.67%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-25.08%	-21.05%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-25.08%	-22.32%	-2.76%
Max Drawdown (10Y) Largest decline over 10 years	-94.98%	-40.56%	-54.42%
Current Drawdown Current decline from peak	-35.65%	-2.99%	-32.66%
Average Drawdown Average peak-to-trough decline	-29.42%	-6.17%	-23.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	2.85%	+0.78%

Volatility

TYG vs. CII - Volatility Comparison

Tortoise Energy Infrastructure Closed Fund (TYG) has a higher volatility of 7.20% compared to BlackRock Enhanced Large Cap Core Fund (CII) at 4.45%. This indicates that TYG's price experiences larger fluctuations and is considered to be riskier than CII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TYG	CII	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	4.45%	+2.75%
Volatility (6M) Calculated over the trailing 6-month period	17.34%	11.93%	+5.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.45%	15.04%	+4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.06%	17.11%	+6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.16%	18.52%	+32.64%

TYG vs. CII - Expense Ratio Comparison

TYG has a 2.90% expense ratio, which is higher than CII's 0.91% expense ratio.

Dividends

TYG vs. CII - Dividend Comparison

TYG's dividend yield for the trailing twelve months is around 12.95%, less than CII's 15.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.38%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
TYG Tortoise Energy Infrastructure Closed Fund	12.95%	11.25%	7.96%	9.87%	8.94%	5.27%	10.85%	14.61%	13.17%	9.01%	8.54%	13.95%

Frequently Asked Questions

Can I hold both TYG and CII in my portfolio?

TYG and CII have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TYG or CII?

TYG has higher volatility (7.20%) compared to CII (4.45%). In terms of maximum drawdown, TYG dropped -95.34% vs CII's -56.43%.

Which has better risk-adjusted returns?

CII currently has the higher Sharpe Ratio (3.05 vs 0.97), 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.