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TPYP

GradeCNew York Stock Exchange

Tortoise North American Pipeline ETF

Sectors · Tortoise · Inception 2015-06-29 · SEC filings

$41.69+0.13 (+0.31%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: up, 59 prints from 41.56 to 41.69. Range 41.65 to 42.02. Use the arrow keys to read each point.$41.80$41.90$42.0010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$870M
1Y return
+20.0%
Yield · Last 12 months
3.30%
Holdings
56
Volume · 30D
0.1M sh
NAV per share
$42.02
52W range
low $33.94high $44.65

The ETF.net TPYP Grade

C

50/ 100

Rank 6 of 11 in Oil & Gas Producers⁠

Confidence High

Six-pillar profile for TPYP. Scores out of 100: Cost 41, Risk 79, Mission 45, Tradability 38, Holdings 64, Durability 65. Strongest: Risk (79). Weakest: Tradability (38). Leans toward Risk.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 41
    Category rank7/11 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    CScore 45
    Category rank3/6 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 79
    Category rank1/11 · top 9%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 38
    Category rank7/11 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 64
    Category rank5/11 · top 45%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 65
    Category rank5/11 · top 45%

Graded as of Sep 22, 2026

Our read on TPYP

ETF.net Research

CMost energy ETFs chase drilling. TPYP buys the plumbing: roughly 60 US and Canadian pipeline and midstream companies, tracked through a Tortoise index, in a plain 1940 Act fund that sends a 1099 instead of a partnership K-1.

Stated mandate

The Fund seeks to track, before fees and expenses, the price and total-return performance of the Tortoise North American Pipeline Index.

Why people hold it

  1. 01Owns the plumbing rather than the drill bits: roughly 60 pipeline and midstream names across the US and Canada, in one ticker.
  2. 02Built as a 1940 Act registered fund, so shareholders get a 1099 at tax time instead of the partnership K-1 that comes with owning MLPs directly.
  3. 03Trading since 2015 with a mid-size asset base, and it distributes on a quarterly schedule.

Worth knowing

  1. 01The 0.40% fee sits a shade above the typical fund in its energy cohort and well above the cheapest name there, PBOG at 0.13%.
  2. 02The benchmark is Tortoise's own North American Pipeline Index, so the fund and the rulebook it follows come from the same house.
  3. 03One sector, two countries: energy infrastructure in the US and Canada, with Canadian holdings adding currency exposure.

TPYP Holdings

As of Sep 20, 2026, 9:17 AM
Asset class
Stocks
Holdings
56
Top-10 weight
63%
Largest holding
TRGP7.6%

Sectors

  • Energy87.0%
  • Utilities13.0%

Geography

  • United States74.52%
  • Canada25.48%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TRGPTarga Resources Corp7.58%227,550$66M340
002KMIKinder Morgan Inc7.56%2,082,779$66M342
003ENBEnbridge Inc7.35%1,322,107$64M48
004TRPTC Energy Corp7.34%1,045,140$64M45
005WMBWilliams Cos Inc/The7.25%882,284$64M361
006OKEONEOK Inc7.14%669,999$63M325
007LNGCheniere Energy Inc7.07%230,962$62M270
008EPDEnterprise Products Partners LP3.99%899,338$35M44
009ETEnergy Transfer LP3.93%1,631,086$34M52
010NINiSource Inc3.93%848,619$34M279
011PPL.TOPEMBINA PIPELINE CORP3.89%718,056$34M75
012ATOAtmos Energy Corp3.88%212,269$34M288
013ALA.TOAltaGas Ltd2.44%558,517$21M64
014KEY.TOKeyera Corp2.35%525,276$21M74
015MPLXMPLX LP2.31%340,459$20M38

Showing 1–15 of 44 holdings

TPYP Performance

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

TPYP$12,002
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TPYP $12,002. SPY $11,723. Use the arrow keys to read each point.$9,272$11,152$13,032Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 TPYP. Periods over one year show the average yearly return.
PeriodTPYP
Year to date+19.7%
1 month−2.9%
3 months−0.3%
1 year+20.0%
3 years+23.1%per year
5 years+19.2%per year
10 years+10.6%per 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 TPYP
YearReturn barTPYP
2026 YTD+19.7%
2025+7.6%
2024+37.4%
2023+10.5%
2022+16.1%
2021+34.9%
2020−20.9%

TPYP in the news

TPYP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.30%Last 12 months
Payout per share
$1.37Last 12 months
Last payment
$0.35 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 38 payments from 2017 to 2026 YTD. Mar 28, 2017 $0.21; Jun 20, 2017 $0.22; Sep 20, 2017 $0.27; Dec 28, 2017 $0.17; Mar 21, 2018 $0.25; Jun 20, 2018 $0.23; Sep 26, 2018 $0.27; Dec 28, 2018 $0.16; Mar 20, 2019 $0.26; Jun 26, 2019 $0.28; Sep 25, 2019 $0.28; Dec 30, 2019 $0.22; Mar 25, 2020 $0.31; Jun 24, 2020 $0.24; Sep 23, 2020 $0.27; Dec 30, 2020 $0.24; Mar 24, 2021 $0.25; Jun 23, 2021 $0.27; Sep 22, 2021 $0.29; Dec 30, 2021 $0.27; Mar 23, 2022 $0.28; Jun 22, 2022 $0.27; Sep 21, 2022 $0.29; Dec 29, 2022 $0.27; Mar 22, 2023 $0.32; Jun 21, 2023 $0.33; Sep 20, 2023 $0.31; Dec 28, 2023 $0.30; Mar 20, 2024 $0.33; Jun 27, 2024 $0.33; Sep 26, 2024 $0.34; Dec 31, 2024 $0.35; Mar 27, 2025 $0.36; Jun 26, 2025 $0.35; Sep 25, 2025 $0.35; Dec 31, 2025 $0.34; Mar 26, 2026 $0.34; Jun 25, 2026 $0.35. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 26, 2026$0.35
Mar 26, 2026Mar 27, 2026$0.34
Dec 31, 2025Jan 2, 2026$0.34
Sep 25, 2025Sep 26, 2025$0.35
Jun 26, 2025Jun 27, 2025$0.35
Mar 27, 2025Mar 28, 2025$0.36
Dec 31, 2024Jan 2, 2025$0.35
Sep 26, 2024Sep 27, 2024$0.34
Jun 27, 2024Jun 28, 2024$0.33
Mar 20, 2024Mar 22, 2024$0.33
Dec 28, 2023Jan 2, 2024$0.30
Sep 20, 2023Sep 22, 2023$0.31

TPYP Risk

How much the fund’s monthly returns vary, scaled to a year.
13.9%
Annualised · 36 months to Aug 2026
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.
1.35
vs 3-month T-bills · to Aug 2026
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.
−17.9%
Trough Sep 2022
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.
0.28
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.

TPYP Cost

Expense ratio0.40%
  • The middle half of Oil & Gas Producers funds
  • Median 0.39%

5 of the 10 Oil & Gas Producers funds charge less.

TPYP costs $40.00 a year on $10,000. The median Oil & Gas Producers fund costs $38.50.