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Launched · SEC filings

Tortoise North American Pipeline ETF

TPYPNYSETortoiseC

$43.13−1.01 (−2.30%)

As of Nov 2, 2026, 3:59 PM ET

C51/ 100

Rank 6 of 10 in Oil & Gas Producers

C51/100Rank 6 of 10inOil & Gas Producers
Intraday session: down, 78 prints from 44.14 to 43.13. Range 43.13 to 43.77. Use the arrow keys to read each point.43.4043.6043.8044.0010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$926M
1Y total return
+33.1%
Yield · Last 12 months
3.10%
Holdings
45
Avg volume · 30D
46.8K sh
52W range
low $33.94high $44.65
Launched
Filings
SEC EDGAR

The ETF.net TPYP Grade

C

Score 51 out of 100

Category
Oil & Gas Producers⁠
Rank
6 of 10
Six-pillar profile for TPYP. Scores out of 100: Cost 45, Risk 81, Mission 49, Tradability 32, Holdings 63, Durability 58. Strongest: Risk (81). Weakest: Tradability (32). Leans toward Risk.

Score 51 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.
    C45 out of 100
    Rank 6 of 10

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    C49 out of 100
    Rank 3 of 6

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A81 out of 100
    Rank 2 of 10

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D32 out of 100
    Rank 8 of 10

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B63 out of 100
    Rank 5 of 10

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B58 out of 100
    Rank 6 of 10

Our read on TPYP

ETF.net Research

In short

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

  • Owns the plumbing rather than the drill bits: roughly 60 pipeline and midstream names across the US and Canada, in one ticker.
  • Built 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.
  • Trading since 2015 with a mid-size asset base, and it distributes on a quarterly schedule.

Worth knowing

  • The 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%.
  • The benchmark is Tortoise's own North American Pipeline Index, so the fund and the rulebook it follows come from the same house.
  • One sector, two countries: energy infrastructure in the US and Canada, with Canadian holdings adding currency exposure.

TPYP Performance

Launched Jun 29, 2015

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

TPYP$13,308
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TPYP $13,308. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+28.2%
1 month+10.7%
3 months+3.6%
1 year+33.1%
3 yearsper year+26.7%
5 yearsper year+18.8%
10 yearsper year+11.9%

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+28.2%
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 Oct 30, 2026.
3.10%Last 12 months
Payout per share
$1.37Last 12 months
Last payment
$0.34 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. 39 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; Sep 24, 2026 $0.34. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 25, 2026$0.34
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

See all 45 payments⁠

$10,000 in TPYP 10 years ago paid $5,167 in dividends.⁠

TPYP Risk

Risk pillarA81 out of 100Rank 2 of 10 in Oil & Gas Producers
How much the fund’s monthly returns vary, scaled to a year.
15.6%
Annualised · 36 months to Oct 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.
1.32
vs 3-month T-bills · to Oct 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.

FMP measures it over up to five years of monthly returns.

TPYP Cost

Compare TPYP and PBOG

Overpaying vs PBOG, cheapest in Oil & Gas Producers

$5,364

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TPYP 0.40%

    $8,090

  • PBOG 0.13% Cheapest

    $2,726

$10,000
30 years

Cost over time

  • TPYP 0.40%
  • PBOG 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TPYP $8,090PBOG $2,726

Year by year

YearTPYPPBOGOverpaying
10$723$238$485
20$2,793$930$1,863
30$8,090$2,726$5,364

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