XNYS · Passive · options-income

Tortoise North American Pipeline ETF

Tortoise Capital Advisors, L.L.C.

Weighted score · 3.00 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Quarterly · — ROC

Expense Ratio

0.40% gross

1Y Return

vs underlying

Sharpe

Max DD -6.8%

Seeks investment results that correspond (before fees and expenses) generally to the price and distribution rate (total return) performance of the Tortoise North American Pipeline Index SM..

The Fund employs a passive management indexing approach designed to track the Tortoise North American Pipeline Index SM, a float-adjusted, capitalization-weighted index of pipeline companies organized and headquartered in the United States or Canada. The Fund normally invests at least 80% of its net assets in securities comprising the Underlying Index, which includes common stock, MLP interests, LLC interests, and MLP Affiliate equity securities. The Underlying Index is concentrated in the energy pipeline industry and includes a minimum of 30 securities, with no single constituent exceeding 7.5% and MLPs capped at 20% of the index.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

Composition · Recent Distribution

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

Distributions may be taxable as ordinary income or capital gains; the Fund may receive MLP cash distributions exceeding net taxable income allocated, potentially resulting in larger taxable gains upon disposition of MLP interests; portions of distributions may effectively represent return of capital in economic terms

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $41.52 is above the 200-day SMA ($38.19); 50-day SMA $42.24. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.27% (moderate). Average daily dollar volume ~$3.4M (adequate). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)