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TPZ

GradeDNew York Stock Exchange

Tortoise Electrification Infrastructure ETF

Themes · Tortoise · Inception 2024-12-23 · SEC filings

$20.79+0.07 (+0.34%)

As of Sep 23, 2026, 2:16 PM EDT

History starts Dec 23, 2024.
Intraday session: up, 33 prints from 20.72 to 20.79. Range 20.68 to 20.82. Use the arrow keys to read each point.$20.70$20.7510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$117M
1Y return
+2.1%
Yield · Last 12 months
3.27%
Volume · 30D
0M sh
NAV per share
$20.97
52W range
low $19.93high $23.03

The ETF.net TPZ Grade

D

29/ 100

Rank 30 of 34 in Infrastructure

Confidence Medium

Six-pillar profile for TPZ. Scores out of 100: Cost 14, Risk 51, Mission not scored, Tradability 28, Holdings 39, Durability 42. Strongest: Risk (51). Weakest: Cost (14). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 of 100 sits in the D 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.
    FScore 14
    Category rank30/34 · bottom quartile
  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 51
    Category rank17/34 · top 50%
  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 28
    Category rank26/34 · bottom quartile
  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 39
    Category rank23/32 · mid-pack
  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 42
    Category rank23/34 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on TPZ

ETF.net Research

DMost infrastructure funds buy the whole board: airports, toll roads, pipelines. TPZ narrows to power and energy infrastructure with a stated emphasis on stable, defensive names. A specialist in a cohort of generalists.

Stated mandate

The Fund seeks exposure primarily to power and energy infrastructure companies, with an emphasis on stable and defensive investments.

Why people hold it

  1. 01Most of this cohort buys infrastructure wholesale. IGF, GII and TOLZ sweep in transport, utilities and the rest. TPZ stays on the power and energy side.
  2. 02The defensive tilt sits in the mandate itself, which calls for an emphasis on stable and defensive investments, not just in the marketing.
  3. 03A late-2024 launch built around electrification infrastructure from the start, rather than a broad infrastructure index with some power names in it.

Worth knowing

  1. 01At 0.85%, it runs above the 0.55% cohort median and well above index rivals like IFRA (0.30%) and IGF (0.37%). The narrow lens carries a price.
  2. 02It is a small fund and thinly traded, so the bid-ask spread can cost more than the fee for anyone moving in and out on short notice.
  3. 03Distributions arrive on an irregular schedule, and the end-2024 launch leaves a short record to judge it by.

TPZ Holdings

As of Sep 20, 2026, 9:17 AM
Asset class
Stocks
Holdings
Top-10 weight
56%
Largest holding
ET8.2%

Sectors

  • Energy59.0%
  • Utilities33.9%
  • Industrials5.5%
  • Financials1.0%
  • Technology0.5%

Geography

  • United States91.07%
  • Canada8.17%
  • Germany0.76%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ETEnergy Transfer LP8.24%460,321$10M52
002LNGCheniere Energy Inc7.38%32,473$9M270
003TRGPTarga Resources Corp6.69%27,021$8M340
004ETREntergy Corp5.93%68,569$7M315
005WMBWilliams Cos Inc/The5.66%92,648$7M361
006TRPTC Energy Corp5.05%96,816$6M45
007MPLXMPLX LP4.98%98,973$6M38
008CEGConstellation Energy Corp4.37%20,262$5M353
009OKEONEOK Inc4.06%51,240$5M325
010EPDEnterprise Products Partners LP3.50%106,108$4M44
011CNPCenterPoint Energy Inc3.38%104,268$4M258
012DTMDT Midstream Inc3.37%31,853$4M202
013SRESempra3.10%44,933$4M301
014WECWEC Energy Group Inc3.07%35,160$4M278
015NEENextEra Energy Inc2.85%41,854$3M407

Showing 1–15 of 38 holdings

TPZ Performance

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

TPZ$10,210
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. TPZ $10,210. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 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 TPZ. Periods over one year show the average yearly return.
PeriodTPZ
Year to date+3.6%
1 month−2.8%
3 months−5.2%
1 year+2.1%
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 TPZ
YearReturn barTPZ
2026 YTD+3.6%
2025+5.7%
2024+0.5%

Since listing, Dec 23, 2024

TPZ in the news

ETF.net Research hasn’t filed on TPZ yet — coverage lands here as it’s written.

TPZ 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.
3.27%Last 12 months
Payout per share
$0.68Last 12 months
Last payment
$0.20 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. 110 payments from 2017 to 2026 YTD. Jan 20, 2017 $0.13; Feb 17, 2017 $0.13; Mar 22, 2017 $0.13; Apr 19, 2017 $0.13; May 22, 2017 $0.13; Jun 21, 2017 $0.13; Jul 20, 2017 $0.13; Aug 22, 2017 $0.13; Sep 21, 2017 $0.13; Oct 23, 2017 $0.13; Nov 21, 2017 $0.13; Dec 21, 2017 $0.13; Jan 23, 2018 $0.13; Feb 20, 2018 $0.13; Mar 21, 2018 $0.13; Apr 20, 2018 $0.13; May 23, 2018 $0.13; Jun 21, 2018 $0.13; Jul 23, 2018 $0.13; Aug 23, 2018 $0.13; Sep 20, 2018 $0.13; Oct 23, 2018 $0.13; Nov 21, 2018 $0.13; Dec 21, 2018 $0.13; Jan 23, 2019 $0.13; Feb 20, 2019 $0.13; Mar 21, 2019 $0.13; Apr 22, 2019 $0.13; May 23, 2019 $0.13; Jun 20, 2019 $0.13; Jul 23, 2019 $0.13; Aug 22, 2019 $0.13; Sep 20, 2019 $0.13; Oct 23, 2019 $0.13; Nov 21, 2019 $0.13; Dec 23, 2019 $0.13; Jan 23, 2020 $0.13; Feb 20, 2020 $0.13; Mar 23, 2020 $0.13; Apr 22, 2020 $0.13; May 21, 2020 $0.13; Jun 22, 2020 $0.05; Jul 23, 2020 $0.05; Aug 21, 2020 $0.05; Sep 22, 2020 $0.05; Oct 22, 2020 $0.05; Nov 20, 2020 $0.05; Dec 23, 2020 $0.05; Jan 21, 2021 $0.05; Feb 18, 2021 $0.05; Mar 23, 2021 $0.05; Apr 22, 2021 $0.05; May 20, 2021 $0.05; Jun 22, 2021 $0.05; Jul 22, 2021 $0.05; Aug 23, 2021 $0.06; Sep 22, 2021 $0.06; Oct 21, 2021 $0.06; Nov 22, 2021 $0.06; Dec 22, 2021 $0.06; Jan 21, 2022 $0.06; Feb 17, 2022 $0.11; Mar 23, 2022 $0.11; Apr 21, 2022 $0.11; May 23, 2022 $0.11; Jun 22, 2022 $0.11; Jul 21, 2022 $0.11; Aug 23, 2022 $0.11; Sep 22, 2022 $0.11; Oct 21, 2022 $0.11; Nov 22, 2022 $0.11; Dec 22, 2022 $0.11; Jan 23, 2023 $0.11; Feb 17, 2023 $0.11; Mar 23, 2023 $0.11; Apr 20, 2023 $0.11; May 23, 2023 $0.11; Jun 22, 2023 $0.11; Jul 21, 2023 $0.11; Aug 23, 2023 $0.11; Sep 21, 2023 $0.11; Oct 23, 2023 $0.11; Nov 21, 2023 $0.11; Dec 21, 2023 $0.11; Jan 23, 2024 $0.11; Feb 21, 2024 $0.11; Mar 21, 2024 $0.11; Apr 22, 2024 $0.11; May 23, 2024 $0.11; Jun 21, 2024 $0.11; Jul 24, 2024 $0.11; Aug 23, 2024 $0.11; Sep 23, 2024 $0.11; Oct 24, 2024 $0.11; Nov 22, 2024 $0.11; Dec 31, 2024 $0.03; Jan 30, 2025 $0.07; Feb 27, 2025 $0.07; Mar 27, 2025 $0.07; Apr 24, 2025 $0.07; May 22, 2025 $0.07; Jun 26, 2025 $0.07; Jul 24, 2025 $0.07; Aug 21, 2025 $0.07; Sep 25, 2025 $0.07; Oct 23, 2025 $0.07; Nov 25, 2025 $0.07; Dec 31, 2025 $0.07; Mar 26, 2026 $0.20; Jun 25, 2026 $0.20. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 26, 2026$0.20
Mar 26, 2026Mar 27, 2026$0.20
Dec 31, 2025Jan 2, 2026$0.07
Nov 25, 2025Nov 26, 2025$0.07
Oct 23, 2025Oct 24, 2025$0.07
Sep 25, 2025Sep 26, 2025$0.07
Aug 21, 2025Aug 22, 2025$0.07
Jul 24, 2025Jul 25, 2025$0.07
Jun 26, 2025Jun 27, 2025$0.07
May 22, 2025May 23, 2025$0.07
Apr 24, 2025Apr 25, 2025$0.07
Mar 27, 2025Mar 28, 2025$0.07

TPZ Risk

How much the fund’s monthly returns vary, scaled to a year.
13.4%
Annualised · 20 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.
0.31
vs 3-month T-bills · 20 months 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.
−17.8%
20 months · trough Apr 2025
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.
0.45
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.

TPZ Cost

Expense ratio0.85%
  • The middle half of Infrastructure funds
  • Median 0.55%

27 of the 33 Infrastructure funds charge less.

TPZ costs $85.00 a year on $10,000. The median Infrastructure fund costs $55.00.