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Launched

Tortoise MLP ETF

TMLPNYSE ArcaC

$28.02+0.01 (+0.05%)

As of Oct 13, 2026, 3:40 PM

C53/ 100

Rank 3 of 7 in Energy Sector

C53/100Rank 3 of 7inEnergy Sector
Intraday session: up, 21 prints from 28.01 to 28.02. Range 27.93 to 28.02. Use the arrow keys to read each point.27.9427.9627.9828.0010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$37M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
4
Avg volume · 30D
0M sh
NAV per share
$27.98
52W range
low $24.88high $31.08
Launched

The ETF.net TMLP Grade

Based on 5 of 6 pillars

C

Score 53 out of 100

Category
Energy Sector⁠
Rank
3 of 7
Six-pillar profile for TMLP. Scores out of 100: Cost 59, Risk 65, Mission 60, Tradability 30, Holdings not scored, Durability 31. Strongest: Risk (65). Weakest: Tradability (30). Based on 5 of 6 pillars.

Score 53 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B59 out of 100
    Rank 3 of 7

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B60 out of 100
    Rank 1 of 5

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B65 out of 100
    Rank 3 of 7

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D30 out of 100
    Rank 6 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D31 out of 100
    Rank 7 of 7

Our read on TMLP

ETF.net Research

CMLP exposure without the K-1 envelope. TMLP takes its index exposure through total return swaps inside a RIC structure, so shareholders get a single Form 1099 and skip the fund-level deferred tax accrual that C-corp MLP funds carry.

Stated mandate

The Fund seeks to track, before fees and expenses, the total-return performance of the Tortoise MLP Index SM.

Why people hold it

  1. 01Full MLP index exposure via total return swaps in a RIC wrapper: one Form 1099, no K-1s, and none of the fund-level deferred tax liability legacy C-corp MLP funds accrue.tortoisecapital.com
  2. 02Tracks the Tortoise MLP Index, a rules-based benchmark with a 10-plus year history covering 20-some partnerships across energy transport, processing and storage.tortoisecapital.com
  3. 03Home-field advantage: Tortoise launched the first MLP closed-end fund in 2004 and built this index itself rather than licensing someone else's.tortoisecapital.com
  4. 04Pays quarterly, with distributions designed to line up with the cash-generating profile of the index's underlying MLPs.tortoisecapital.com

Worth knowing

  1. 010.50% a year sits a bit above the typical index-tracking ETF. That's the toll for the swap-based, K-1-free plumbing.
  2. 02Swaps carry counterparty risk. The fund may deal with one or a limited number of counterparties, and a counterparty default would reduce the value of your shares.tortoisecapital.com
  3. 03A December 2025 launch: still small and thinly traded, and non-diversified, so spreads can be wider and a short list of names drives the ride.tortoisecapital.com

TMLP Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
4
Top-10 weight
196%
Largest holding
Tortoise Mlp Total Return Index Swap Gs-L97.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Tortoise Mlp Total Return Index Swap Gs-L97.53%13,729$36M1
002—United States Treasury Bill 12/03/202691.86%34,000,000$34M1
003HESMHess Midstream LP4.75%54,159$2M55
004—U.S. Bank Money Market Deposit Account 06/01/20312.12%781,385$781K103

Showing 1–4 of 4 holdings

TMLP Performance

Launched Dec 23, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
TMLP$11,798
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. TMLP $11,798. SPY $11,500. Use the arrow keys to read each point.$9,047$11,057$13,067Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TMLP. Periods over one year show the average yearly return.
PeriodTMLP
Year to date+18.0%
1 month−7.1%
3 months+1.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TMLP
YearReturn barTMLP
2026 YTD+18.0%
20250.0%

Since listing, Dec 23, 2025

TMLP in the news

Filtered to TMLP · Energy Sector

TMLP Dividends

Last payment
$0.58 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 4 payments from 2025 to 2026 YTD. Dec 31, 2025 $0.01; Mar 26, 2026 $0.58; Jun 25, 2026 $0.50; Sep 24, 2026 $0.58. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 25, 2026$0.58
Jun 25, 2026Jun 26, 2026$0.50
Mar 26, 2026Mar 27, 2026$0.58
Dec 31, 2025Jan 2, 2026$0.01

TMLP Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.06
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TMLP Cost

Expense ratio0.50%
  • The middle half of Energy Sector funds
  • Median 0.77%

2 of the 7 Energy Sector funds charge less.

TMLP costs $50.00 a year on $10,000. The median Energy Sector fund costs $77.00.

Other funds in Energy Sector

See others