PIPEvsTPYPETF Comparison
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Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) and Tortoise North American Pipeline Fund ETF - USD (TPYP) belong to the same industry segment: Infrastructure. Both ETFs have the same top 3 sector exposures: Energy and Utilities. PIPE is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.4% for TPYP. PIPE is up 27.09% year-to-date (YTD) with -$209K in YTD flows. TPYP performs worse with 22.96% YTD performance, and +$32M in YTD flows. Run a side-by-side ETF comparison of PIPE and TPYP below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PIPE vs TPYP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 05/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIPE TPYP | +4.07%+3.01% | +19.86%+16.27% | +27.09%+22.96% | +34.96%+28.22% | n/a+97.87% | n/a+149.89% |
| Flows | PIPE TPYP | --$5M | -$209K+$28M | -$209K+$32M | +$35M+$19M | -+$2M | --$3M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIPE TPYP | +14.97%+13.76% | +13.86%+12.52% | n/a+14.95% | n/a+17.17% |
| Max drawdown | PIPE TPYP | -5.89%-5.44% | -7.30%-6.92% | n/a-12.89% | n/a-17.85% |
| Max drawdown duration | PIPE TPYP | 34d31d | 109d114d | n/a174d | n/a574d |
Trading data
PIPE | TPYP | |
Last sale 5/1/2026 at 1:30 PM | $30.15 | $43.02 |
| Previous close 04/29/2026 | $30.30 | $43.39 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 30, 2026
1-year trailing difference
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PIPE
is actively managed and doesn’t replicate an indexPIPE | TPYP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 5/1/2026 at 1:30 PM
Live
Closed
PIPE | TPYP | |
|---|---|---|
| Last price | $30.15 | $43.02 |
| 1D performance | -0.50% | -0.85% |
| AuM | $63.06 M | $887.01 M |
| E/R | 0.75% | 0.4% |
Characteristics
PIPE | TPYP | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Invesco | Tortoise Capital |
| Benchmark | - | Tortoise North American Pipeline Index |
| N° of holdings | 23 | 41 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 20, 2025 | June 30, 2015 |
| ESG | No | No |
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Exposure
Countries
PIPE
USA
73.94%
Canada
26.06%
Other
0%
TPYP
USA
73.98%
Canada
25.66%
Other
0.36%
Sectors
PIPE
Energy
87.33%
Other
12.67%
TPYP
Energy
76.95%
Utilities
20.33%
Other
2.72%
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Diversification
PIPE
Total weight of top 15 holdings out of 15
75.72%
TPYP
Total weight of top 15 holdings out of 15
75.36%
Top 15 holdings
Data as of March 31, 2026
PIPE
TARGA RESOURCS
7.54%
WILLIAMS
6.46%
PLAINS GP HOLDINGS
5.99%
TC ENERGY CORP
5.79%
CHENIERE ENERGY
5.33%
ONEOK
5.16%
KINDER MORGAN
4.85%
PEMBINA PIPELINE
4.65%
ENBRIDGE
4.53%
KEYERA
4.53%
ENERGY TRANSFER LP UNITS
4.46%
ENTERPRISE PRODUCTS PARTNERS UNT
4.45%
US50012A1088
4.28%
MPLX COMMON UNITS
4.06%
CA83671M1059
3.62%
TPYP
CHENIERE ENERGY
7.55%
KINDER MORGAN
7.41%
ENBRIDGE
7.37%
TC ENERGY CORP
7.20%
WILLIAMS
7.09%
ONEOK
6.98%
ENTERPRISE PRODUCTS PARTNERS UNT
4.08%
TARGA RESOURCS
4.07%
ENERGY TRANSFER LP UNITS
4.06%
PEMBINA PIPELINE
3.94%
ATMOS ENERGY
3.90%
NISOURCE
3.90%
ALTAGAS
2.91%
MPLX COMMON UNITS
2.50%
NFG
2.40%
Frequently asked questions about PIPE and TPYP
How have the PIPE and TPYP ETFs performed in 2026?
As of May 1, 2026, PIPE is up 27.09% year-to-date (YTD), while TPYP has returned 22.96%. That puts PIPE better performer ahead so far this year.
Which ETF is attracting more investor money: PIPE or TPYP?
Year-to-date, the PIPE ETF saw -$209K in flows, compared to +$32M for TPYP.
Which ETF is more volatile: PIPE or TPYP?
Over the past year, PIPE had a volatility of 13.86%, while TPYP experienced 12.52%.
Which ETF is bigger: PIPE or TPYP?
As of May 1, 2026, PIPE holds $63.06 M in assets under management (AUM), while TPYP manages $887.01 M.
What sectors do the PIPE and TPYP ETFs invest in?
PIPE leans toward sectors like Energy. Meanwhile, TPYP focuses on Energy and Utilities.
What are the top holdings of the PIPE ETF and TPYP ETF?
PIPE top holdings include TARGA RESOURCS, WILLIAMS and PLAINS GP HOLDINGS. TPYP holds in its top three: CHENIERE ENERGY, KINDER MORGAN and ENBRIDGE.
Which ETF is more diversified: PIPE or TPYP?
PIPE holds 25 securities with 75.72% of its assets in the top 15. TPYP has 44 securities and a top 15 weight of 75.36%.
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Latest news about PIPE & TPYP
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