TPYP
Tortoise North American Pipeline Fund·NYSE
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Key Stats
Assets Under Management
766.25MUSD
Fund Flows (1Y)
-2.01MUSD
Dividend Yield
2.65%
Discount/Premium to NAV
0.07%
Shares Outstanding
19.90M
Expense Ratio
0.40%
About Tortoise North American Pipeline Fund
Issuer
Tortoise Capital Advisors, L.L.C.
Brand
Tortoise
Inception Date
Jun 29, 2015
Structure
Open-Ended Fund
Index Tracked
Tortoise North American Pipeline Index
Management Style
Passive
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Tortoise Capital Advisors LLC
Distributor
Quasar Distributors LLC
TPYP offers broad exposure to North American pipeline equities in an ETF wrapper. The fund tracks a straightforward index of MLPs, MLP affiliates, and other pipeline entities listed in the US and Canada. TPYP is organized under the 1940 Act, so MLP exposure is capped, by rule, at 25%. TPYP tamps this down to 20% and is otherwise market-cap weighted. The upside to this approach is that TPYP avoids the tax complexity and costs associated with C-corp ETPs like AMLP. Despite its limitations, the fund is squarely aimed at pipelines and competes with a handful of similarly organized MLP-related ETFs. This broader approach to the space got a boost in 2014 when Kinder Morgan entities converted out of their MLP structure. The Underlying Index undergoes quarterly rebalance and annual review.
Classification
Asset Class
Equity
Category
Sector
Focus
Energy
Niche
MLPs
Strategy
Vanilla
Geography
U.S.
Weighting Scheme
Market Cap
Selection Criteria
Market cap
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | +11.28% | +10.58% | +9.58% | +7.15% | +51.41% | +106.57% |
NAV Total Return | +10.85% | +12.31% | +7.73% | +0.03% | +0.03% | +0.03% |
Ratings
No data is currently available
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Holdings Analysis
Sector
Energy
84.85%
Utilities
15.15%
Energy
84.85%
Utilities
15.15%
Asset
Region
100%
Category
Ratio
North America
100.00%
Investment Style
Mega
Large
Medium
Multi
Small
Value
Blend
Growth
Multi-Cap Blend
Provides exposure to companies of various sizes that exhibit both growth and value characteristics. This category offers a diversified portfolio with a mix of market caps.
Top 10 Holdings
Symbol
Ratio
KMI
Kinder Morgan
7.80%
WMB
The Williams
7.62%
TRP
TC Energy
7.62%
ENB
Enbridge
7.32%
LNG
Cheniere Energy
7.14%
OKE
Oneok
6.77%
TRGP
Targa Resources
4.09%
EPD
Enterprise Products
3.97%
ET
Energy Transfer
3.96%
PEMBINA PIPELINE CORP
3.95%
Top 10 Weight 60.24%
47 Total Holdings
Is SPY better than TPYP?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-12-31 | 2025-12-31 | 2026-01-02 | 0.336 |
| 2025-09-25 | 2025-09-25 | 2025-09-26 | 0.345 |
| 2025-06-26 | 2025-06-26 | 2025-06-27 | 0.346 |
How Much Does TPYP Pay in Dividends?
Premium/Discount Chart
Assets Under Management
Should I buy TPYP?
Fund Flows
