TMLP
Tortoise MLP ETF
Tortoise MLP ETF seeks to provide investors with exposure to a diversified portfolio of midstream master limited partnerships (MLPs) that generate income and capital appreciation.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
36.7 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Tortoise |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 22, 2025 |
| Assets (mns) | $37 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| UNITED STATES TREASURY BILL 03/26/2026 | 16.4 % |
| PLAINS ALL AMER PIPELINE LP | 8.1 % |
| MPLX LP | 7.9 % |
| WESTERN GAS EQUITY PARTNERS LP | 7.8 % |
| ENTERPRISE PRODUCTS PARTNERS | 7.7 % |
| ENERGY TRANSFER, L.P. | 7.6 % |
| HESS MIDSTREAM LP - CLASS A | 6.1 % |
| WILLIAMS COS INC | 5.5 % |
| CHENIERE ENERGY PARTNERS LP | 5.3 % |
| SUNOCO LP | 4.8 % |
Constituent Breakdown
| Number of holdings | 21 |
| Herfindahl-Hirschman Index | 0 |
| Wgt avg mkt cap (mns) | $0 |
| Large cap (>$10bn) | 0.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 0.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 75.5 % |
 |
CANADA | 6.5 % |
Historical Performance
Standardized Performance (as of 01/09/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -- | -- | -- | -- | -- | -- | -- | -- |
| Dividend Yield | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Returns | -- | -- | -- | -- | -- | -- | -- | -- | Ann. Volatility | -- | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 10 |
| ADV traded (mns) | $0 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| 30d moving avg. (EMA) | $0.00 |
| Relative strength (RSI) | 0 |
| MACD/Signal | 0.00/0.00 |
| Bollinger Bands (Upper/Lower) | $0.00/$0.00 |
| Short interest (% of AUM) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. TMLP |
Expenses vs. TMLP |
ALTAR Score™ vs. TMLP |
|---|---|---|---|---|
| AMZA | InfraCap MLP ETF | 66.5% | +114 bp | +7.1% |
| MLPA | Global X MLP ETF | 55.3% | -5 bp | +8.6% |
| AMLP | Alerian MLP ETF | 54.5% | +35 bp | +8.5% |
| UMI | USCF Midstream Energy Income Fund ETF | 48.4% | +35 bp | +5.6% |
| ENFR | Alerian Energy Infrastructure ETF | 47.8% | -15 bp | +6.0% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 47.8% | -5 bp | +5.9% |
| EINC | VanEck Energy Income ETF | 45.5% | -2 bp | +6.0% |
| USAI | Pacer American Energy Independence ETF | 42.9% | +25 bp | +4.8% |
| MLPI | NEOS MLP & Engy Infras Hi Inc ETF | 42.2% | +18 bp | +5.3% |
| TPYP | Tortoise North American Pipeline Fund | 40.7% | -10 bp | +6.2% |
Risk and Returns: TMLP 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
| 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 1/9/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
TMLP
7.9%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 1047 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.2%. TMLP's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places TMLP in the 86th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TMLPSELL
U/W
HOLD
O/W
BUY