TPYP vs. IFRA ETF Comparison

Comparison of Tortoise North American Pipeline Fund ETF (TPYP) to iShares U.S. Infrastructure ETF (IFRA)

TPYP

Tortoise North American Pipeline Fund ETF

TPYP Description

The investment seeks investment results that correspond generally to the price and distribution rate (total return) performance of the Tortoise North American Pipeline Index (the "underlying index"). The fund will normally invest at least 80% of its total assets in securities that comprise the underlying index (or depository receipts based on such securities). The underlying index is a proprietary rules-based, capitalization weighted, float adjusted index designed to track the overall performance of equity securities of North American Pipeline Companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$36.69

Average Daily Volume

49,950

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IFRA

iShares U.S. Infrastructure ETF

IFRA Description

The investment seeks to track the investment results of the NYSE® FactSet U.S. Infrastructure Index (the "underlying index"), an index composed of equities of U.S. companies that have infrastructure exposure and that could benefit from a potential increase in domestic infrastructure activities. The fund generally will invest at least 90% of its assets in the component securities of the underlying index. The index is designed to measure the performance of equity securities of U.S. companies involved in U.S. focused infrastructure activities. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.22

Average Daily Volume

310,420

Number of Holdings ^*

150

* may have additional holdings in another (foreign) market

Performance

Period	TPYP	IFRA
30 Days	12.24%	8.33%
60 Days	15.88%	9.82%
90 Days	20.16%	13.63%
12 Months	49.25%	39.72%

15 Overlapping Holdings

Symbol	Grade	Weight in TPYP	Weight in IFRA	Overlap
AM	A	1.59%	0.69%	0.69%
ATO	A	3.83%	0.72%	0.72%
CPK	A	0.89%	0.7%	0.7%
DTM	B	1.7%	0.87%	0.87%
ENLC	A	1.2%	0.72%	0.72%
KMI	A	7.75%	0.83%	0.83%
KNTK	B	0.66%	0.85%	0.66%
NFE	D	0.3%	0.54%	0.3%
NI	A	3.81%	0.71%	0.71%
NWN	A	0.5%	0.68%	0.5%
OGS	A	1.33%	0.71%	0.71%
OKE	A	7.92%	0.78%	0.78%
SR	A	1.19%	0.66%	0.66%
SWX	B	1.44%	0.55%	0.55%
WMB	A	8.24%	0.82%	0.82%

TPYP Overweight 20 Positions Relative to IFRA

Symbol	Grade	Weight
LNG	B	7.11%
TRGP	B	4.7%
ET	A	3.8%
EPD	A	3.67%
MPLX	A	3.08%
NFG	A	1.74%
NJR	A	1.48%
PAA	B	1.4%
WES	C	1.27%
AROC	B	1.25%
SUN	B	0.99%
HESM	B	0.63%
PAGP	A	0.63%
CQP	B	0.36%
USAC	B	0.32%
GLP	A	0.24%
GEL	D	0.22%
DKL	C	0.09%
EE	A	0.08%
CAPL	D	0.07%

TPYP Underweight 135 Positions Relative to IFRA

Symbol	Grade	Weight
VST	B	-1.23%
USLM	A	-0.91%
CENX	B	-0.86%
CEG	D	-0.85%
MYRG	B	-0.84%
STRL	B	-0.83%
AGX	B	-0.82%
MGEE	C	-0.8%
PRIM	A	-0.8%
NRG	B	-0.79%
ETR	B	-0.79%
ROAD	A	-0.77%
IDA	A	-0.74%
TXNM	A	-0.73%
XEL	A	-0.72%
FIX	A	-0.72%
CNP	B	-0.72%
LMB	A	-0.72%
SRE	A	-0.72%
AEE	A	-0.71%
CMP	C	-0.71%
GBX	A	-0.71%
PEG	A	-0.71%
MSEX	B	-0.7%
EME	C	-0.7%
MTZ	B	-0.7%
CSX	B	-0.7%
PCG	A	-0.69%
BKH	A	-0.69%
EVRG	A	-0.69%
OGE	B	-0.69%
NSC	B	-0.69%
AWR	B	-0.68%
HEES	B	-0.68%
MLI	C	-0.68%
MTRX	B	-0.68%
PNW	B	-0.68%
PPL	B	-0.68%
LXFR	C	-0.68%
LNT	A	-0.67%
ALE	A	-0.67%
GLDD	B	-0.67%
RYI	C	-0.67%
SUM	B	-0.67%
WEC	A	-0.67%
APOG	B	-0.66%
AGR	B	-0.66%
UTL	B	-0.66%
NWE	B	-0.66%
GVA	A	-0.66%
D	C	-0.65%
BXC	B	-0.65%
WTRG	B	-0.65%
PWR	A	-0.65%
CMS	C	-0.65%
EXC	C	-0.65%
DTE	C	-0.64%
SO	D	-0.64%
NWPX	A	-0.64%
CRS	A	-0.64%
AWI	A	-0.63%
POR	C	-0.63%
EXP	A	-0.63%
KNF	A	-0.63%
TPC	C	-0.63%
VMI	B	-0.63%
NGVT	B	-0.63%
AVA	A	-0.63%
STLD	B	-0.62%
OC	A	-0.62%
NEE	D	-0.62%
URI	B	-0.62%
UNP	C	-0.62%
EIX	B	-0.62%
DUK	C	-0.62%
FE	C	-0.61%
CWT	D	-0.61%
ECVT	C	-0.61%
ASTE	B	-0.61%
ARTNA	D	-0.61%
YORW	D	-0.61%
TRN	C	-0.6%
ES	D	-0.6%
SJW	D	-0.6%
AWK	D	-0.6%
AEP	D	-0.6%
VMC	B	-0.6%
LPX	B	-0.6%
ED	D	-0.6%
CMC	B	-0.59%
KALU	C	-0.59%
LXU	B	-0.59%
HE	C	-0.59%
X	C	-0.58%
MLM	B	-0.58%
TREX	C	-0.57%
OSK	B	-0.57%
FLR	B	-0.57%
CSL	C	-0.56%
BCC	B	-0.56%
RS	B	-0.56%
AZEK	A	-0.56%
ACM	A	-0.56%
ASIX	A	-0.55%
APG	B	-0.55%
ROCK	C	-0.54%
SSD	D	-0.53%
BWMN	C	-0.53%
HWKN	B	-0.53%
BLDR	D	-0.53%
XPEL	C	-0.53%
ZEUS	C	-0.52%
POOL	C	-0.52%
NUE	C	-0.52%
TEX	D	-0.52%
KOP	C	-0.51%
EMN	D	-0.51%
AESI	B	-0.5%
CLF	F	-0.5%
OLN	D	-0.5%
BLD	D	-0.5%
NVEE	F	-0.5%
HAYN	C	-0.5%
MTUS	C	-0.49%
J	F	-0.49%
IIIN	C	-0.48%
ATI	D	-0.48%
WOR	F	-0.47%
WMS	D	-0.46%
WLK	D	-0.46%
LYB	F	-0.44%
MDU	D	-0.36%
MATV	D	-0.33%
NVRI	F	-0.33%
TTEK	F	-0.09%