Key stats
About Tortoise North American Pipeline Fund
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Inception date
Jun 30, 2015
Structure
Open-Ended Fund
Replication method
Physical
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
ISIN
US8909303088
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
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Industrial Services
Utilities
Stocks98.89%
Industrial Services70.50%
Utilities22.68%
Energy Minerals3.29%
Distribution Services2.09%
Process Industries0.29%
Bonds, Cash & Other1.11%
Mutual fund1.15%
Cash−0.04%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
TPYP invests in stocks. The fund's major sectors are Industrial Services, with 70.53% stocks, and Utilities, with 22.69% of the basket. The assets are mostly located in the North America region.
TPYP top holdings are Enbridge Inc. and TC Energy Corporation, occupying 7.85% and 7.78% of the portfolio correspondingly.
TPYP last dividends amounted to 0.35 USD. The quarter before, the issuer paid 0.36 USD in dividends, which shows a 2.60% decrease.
TPYP assets under management is 694.80 M USD. It's fallen 0.07% over the last month.
TPYP fund flows account for 15.26 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, TPYP pays dividends to its holders with the dividend yield of 3.88%. The last dividend (Jun 27, 2025) amounted to 0.35 USD. The dividends are paid quarterly.
TPYP shares are issued by TortoiseEcofin Investments LLC under the brand Tortoise. The ETF was launched on Jun 30, 2015, and its management style is Passive.
TPYP expense ratio is 0.40% meaning you'd have to pay 0.40% of your investment to help manage the fund.
TPYP follows the Tortoise North American Pipeline Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
TPYP invests in stocks.
TPYP price has risen by 1.28% over the last month, and its yearly performance shows a 14.76% increase. See more dynamics on TPYP price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 0.37% over the last month, showed a 1.13% increase in three-month performance and has increased by 18.85% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 0.37% over the last month, showed a 1.13% increase in three-month performance and has increased by 18.85% in a year.
TPYP trades at a premium (0.13%) meaning the ETF is trading at a higher price than the calculated NAV.