TPYP
Tortoise North American Pipeline Fund
The Tortoise North American Pipeline ETF tracks an index of listed equities related to North American pipeline entities organized as MLP affiliates, MLPs, LLCs and corporations.
Global
EQUITY
Passive
MANAGEMENT STYLE
$ 852.5 M
ASSETS UNDER MGMT
40 bp
EXPENSES
Fund Basics
| Inception date | Jun 29, 2015 |
| Regulation | Open-End Investment Company |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TRANSCANADA CORP | 7.9 % |
| ENBRIDGE INC | 7.7 % |
| WILLIAMS COS INC | 7.2 % |
| KINDER MORGAN INC | 7.1 % |
| ONEOK INC | 6.5 % |
| CHENIERE ENERGY INC | 6.0 % |
| TARGA RESOURCES CORP | 4.3 % |
| PEMBINA PIPELINE CORP | 4.2 % |
| ENERGY TRANSFER, L.P. | 4.1 % |
| NISOURCE INC | 4.0 % |
Constituent Breakdown
| Number of holdings | 43 |
| Herfindahl-Hirschman Index | 461 |
| Wgt avg mkt cap (mns) | $41,683 |
| Large cap (>$10bn) | 74.4% |
| Mid cap ($2-10bn) | 21.8% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 71.3 % |
 |
CANADA | 27.7 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.2% | 17.1% | 20.5% | 20.6% | 13.2% | 7.1% | -- | 4.7% |
| Dividend Yield | 0.0% | 3.4% | 4.3% | 4.9% | 5.0% | 4.9% | -- | 4.6% |
| Total Returns | 17.2% | 20.5% | 24.8% | 25.5% | 18.2% | 12.0% | -- | 9.3% | Ann. Volatility | 15.0% | 13.2% | 16.2% | 15.4% | 17.5% | 22.0% | -- | 22.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -0.01 | 0% |
| MSCI EAFE | 0.02 | 0% |
| MSCI Emg Mkts | -0.02 | 0% |
Liquidity Measures
| Avg. volume (000) | 64 |
| ADV traded (mns) | $3 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.19% |
Technical Indicators
| 30d moving avg. (EMA) | $42.62 |
| Relative strength (RSI) | 47 |
| MACD/Signal | 0.13/0.35 |
| Bollinger Bands (Upper/Lower) | $44.65/$41.21 |
| Short interest (% of AUM) | 0.3% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. TPYP |
Expenses vs. TPYP |
ALTAR Score™ vs. TPYP |
|---|---|---|---|---|
| EINC | VanEck Energy Income ETF | 66.2% | +8 bp | -0.5% |
| USAI | Pacer American Energy Independence ETF | 60.9% | +35 bp | -1.4% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 60.6% | +5 bp | -0.5% |
| UMI | USCF Midstream Energy Income Fund ETF | 59.6% | +45 bp | -0.7% |
| ENFR | Alerian Energy Infrastructure ETF | 57.2% | -5 bp | -0.4% |
| MLPI | NEOS MLP & Engy Infras Hi Inc ETF | 55.5% | +28 bp | -0.8% |
| USNG | Amplify Samsung U.S. Natural Gas Infrastructure ETF | 44.3% | +19 bp | -1.7% |
| TOLZ | ProShares DJ Brookfield Global Infrastructure ETF | 37.1% | +6 bp | +0.2% |
| NBCT | Neuberger Berman Carbon Transition Infrastructure ETF | 33.6% | +15 bp | -0.2% |
| EMLP | First Trust North American Energy Infrastructure Fund | 33.5% | +55 bp | -0.1% |
Risk and Returns: TPYP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/3/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
5.3%
ALTAR SCORE™
65th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 727 funds in the Global Equity category with an average
ALTAR Score™ of 4.3% and a standard deviation
of 2.6%. TPYP's ALTAR Score™ is approximately 0.4 standard
deviations above the category average. This places TPYP in the 65th percentile
among funds in the category.
Sell-Side Consensus
$44.02
PRICE TARGET
+4.7%
UPSIDE