TYG vs. USA
TYG (Tortoise Energy Infrastructure Closed Fund) is MLPs fund actively managed by Tortoise, while USA (Liberty All-Star Equity Fund) is a stock. Over the past 10 years, TYG returned -1.30%/yr vs 12.16%/yr for USA. At a 0.38 correlation, their price movements are largely independent.
Performance
TYG vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, TYG achieves a 11.98% return, which is significantly higher than USA's -4.98% return. Over the past 10 years, TYG has underperformed USA with an annualized return of -1.30%, while USA has yielded a comparatively higher 12.16% annualized return.
TYG
- 1D
- -0.42%
- 1M
- -5.66%
- YTD
- 11.98%
- 6M
- 11.19%
- 1Y
- 14.52%
- 3Y*
- 28.67%
- 5Y*
- 19.17%
- 10Y*
- -1.30%
USA
- 1D
- 0.00%
- 1M
- -2.75%
- YTD
- -4.98%
- 6M
- -5.58%
- 1Y
- -5.68%
- 3Y*
- 7.02%
- 5Y*
- 0.23%
- 10Y*
- 12.16%
TYG vs. USA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYG Tortoise Energy Infrastructure Closed Fund | 11.98% | 8.46% | 60.18% | -0.37% | 24.20% | 46.86% | -70.31% | 1.79% | -24.74% | 3.17% |
USA Liberty All-Star Equity Fund | -4.98% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between TYG and USA is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2004 | 0.38 |
Over the past year, the correlation between TYG and USA has dropped to 0.07 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
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Return for Risk
TYG vs. USA — Risk / Return Rank
TYG
USA
TYG vs. USA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Energy Infrastructure Closed Fund (TYG) and Liberty All-Star Equity Fund (USA). 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.
| TYG | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.95 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | -0.37 | +1.42 |
| Martin ratioReturn relative to average drawdown | 3.07 | -0.87 | +3.94 |
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Drawdowns
TYG vs. USA - Drawdown Comparison
The maximum TYG drawdown since its inception was -95.34%, which is greater than USA's maximum drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for TYG and USA.
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Drawdown Indicators
| TYG | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.34% | -69.15% | -26.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -15.28% | +1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -25.08% | -17.69% | -7.39% |
Max Drawdown (5Y)Largest decline over 5 years | -25.08% | -34.05% | +8.97% |
Max Drawdown (10Y)Largest decline over 10 years | -94.98% | -47.07% | -47.91% |
Current DrawdownCurrent decline from peak | -36.12% | -10.08% | -26.04% |
Average DrawdownAverage peak-to-trough decline | -29.43% | -11.51% | -17.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.74% | 6.55% | -1.81% |
Volatility
TYG vs. USA - Volatility Comparison
The current volatility for Tortoise Energy Infrastructure Closed Fund (TYG) is 4.06%, while Liberty All-Star Equity Fund (USA) has a volatility of 4.51%. This indicates that TYG experiences smaller price fluctuations and is considered to be less risky than USA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYG | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 4.51% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 17.34% | 10.75% | +6.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.42% | 13.92% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.85% | 20.30% | +3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.12% | 22.57% | +28.55% |
Dividends
TYG vs. USA - Dividend Comparison
TYG's dividend yield for the trailing twelve months is around 12.20%, more than USA's 12.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYG Tortoise Energy Infrastructure Closed Fund | 12.20% | 11.25% | 7.96% | 9.87% | 8.94% | 5.27% | 10.85% | 14.61% | 13.17% | 9.01% | 8.54% | 13.95% |
USA Liberty All-Star Equity Fund | 12.04% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
TYG and USA have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (4.51%) compared to TYG (4.06%). In terms of maximum drawdown, TYG dropped -95.34% vs USA's -69.15%.
TYG currently has the higher Sharpe Ratio (0.75 vs -0.41), 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.
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