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Tortoise MLP ETF (TMLP) Holdings & Expense Ratio

For informational purposes only. Not financial advice.

Quick Answer

Tortoise MLP ETF (TMLP) has a last stored price of $27.97, as of the Oct 2, 2026 trading session. It has a 0.50% expense ratio and $38M in assets under management.

Data Sources: Yahoo Finance · Financial Modeling Prep

Tortoise MLP ETF (TMLP) ETF — Price, Holdings & Analysis

ETF Overview

TMLP aims to replicate the performance of a market cap-weighted index composed of US-listed MLPs and limited liability companies operating in the energy commodity sector. The fund primarily gains exposure through total return swaps referencing the index components, with the option to directly hold up to 25% of its assets in the index constituents. To be eligible for inclusion, companies must be domiciled and traded in the US, possess a minimum market capitalization of $200 million, and maintain an average market capitalization of $175 million for at least 20 trading days prior to rebalancing. Individual positions are capped at 7.5%, and securities of an MLP Affiliate family are limited to 15%. The index undergoes quarterly rebalancing to ensure alignment with its investment mandate. This ETF is designed for investors seeking targeted exposure to the MLP segment of the energy industry.

Risk Metrics

TMLP, with AUM of $0.04 billion, faces concentration risk due to its focus on the MLP sector within the energy industry. The fund's 0.50% expense ratio can create a drag on performance, especially when compared to lower-cost broad market equity ETFs. The capping of individual positions at 7.5% and MLP Affiliate families at 15% attempts to mitigate some concentration risk, but the fund remains heavily reliant on the performance of the energy sector. Investors should be aware of the potential for volatility associated with MLPs and the energy market, as well as the impact of interest rate changes on MLP valuations. Past performance does not guarantee future results.

Expense Ratio

0.50%

Dividend Yield

0.00%

Questions & Answers

What is TMLP and what does it track?

The Tortoise MLP ETF (TMLP) is an exchange-traded fund designed to provide investors with exposure to the master limited partnership (MLP) sector in the United States.

TMLP tracks a market cap-weighted index of US-listed MLPs and limited liability companies involved in the transportation, production, processing, or storage of energy commodities.

What is the expense ratio for TMLP?

The expense ratio for the Tortoise MLP ETF (TMLP) is 0.50%. This means that for every $10,000 invested in the fund, $50 is used to cover the fund's operating expenses.

While 0.50% is not excessively high, it is important to consider the expense ratios of similar ETFs when making investment decisions. The category average expense ratio for equity ETFs is 0.44%.

What are the top holdings in TMLP?

TMLP primarily uses total return swaps to gain exposure to its underlying index, so it does not have traditional top holdings in the same way as ETFs that directly hold securities.

However, the index that TMLP tracks is composed of US-listed MLPs and limited liability companies involved in the energy sector. The fund caps individual positions at 7.5% and securities of an MLP Affiliate family are limited to 15%.

Is TMLP a good long-term investment?

Whether TMLP is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and outlook on the energy sector, particularly MLPs. TMLP provides targeted exposure to MLPs involved in energy transportation, production, processing, and storage.

As of March 2026, TMLP has an AUM of $0.04 billion and an expense ratio of 0.50%.

How does TMLP compare to similar ETFs?

TMLP competes with other ETFs that focus on the MLP sector. Key factors to compare include expense ratio, AUM, and investment strategy. TMLP has an expense ratio of 0.50% and AUM of $0.04 billion.

Some competing ETFs may have lower expense ratios or different index construction methodologies, which could lead to variations in performance. Investors should carefully evaluate these differences to determine which ETF best aligns with their investment objectives.

Does TMLP pay dividends?

As of March 15, 2026, the Tortoise MLP ETF (TMLP) has a dividend yield of 0.00%. Dividend yield can fluctuate based on the underlying holdings and the fund's distribution policy.

Investors seeking income from their investments should consider the dividend yield in conjunction with other factors such as the fund's expense ratio and overall performance.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

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