TPYP vs. NBCT ETF Comparison

Comparison of Tortoise North American Pipeline Fund ETF (TPYP) to Neuberger Berman Carbon Transition Infrastructure ETF (NBCT)

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

$36.55

Average Daily Volume

49,360

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NBCT

Neuberger Berman Carbon Transition Infrastructure ETF

NBCT Description

Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of carbon transition companies and infrastructure companies. It invests a significant portion of its assets in carbon transition companies, which the Managers consider to be those companies that have, or in the Portfolio Managers" view, are reasonably expected to have, at least 20% of their assets or revenue, committed to or derived from infrastructure that will facilitate global decarbonization and/or the reduction of other greenhouse gas emissions.

Grade (RS Rating)

Last Trade

$30.66

Average Daily Volume

13,227

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TPYP	NBCT
30 Days	9.63%	-0.15%
60 Days	14.71%	4.26%
90 Days	18.79%	11.35%
12 Months	46.89%	42.98%

12 Overlapping Holdings

Symbol	Grade	Weight in TPYP	Weight in NBCT	Overlap
AM	A	1.59%	3.45%	1.59%
DTM	A	1.7%	3.71%	1.7%
EPD	A	3.67%	7.42%	3.67%
ET	A	3.8%	7.32%	3.8%
HESM	A	0.63%	1.93%	0.63%
KNTK	A	0.66%	3.27%	0.66%
LNG	A	7.11%	6.69%	6.69%
OKE	A	7.92%	2.12%	2.12%
PAGP	A	0.63%	2.9%	0.63%
TRGP	A	4.7%	8.39%	4.7%
WES	C	1.27%	5.07%	1.27%
WMB	A	8.24%	5.18%	5.18%

TPYP Overweight 23 Positions Relative to NBCT

Symbol	Grade	Weight
KMI	A	7.75%
ATO	A	3.83%
NI	A	3.81%
MPLX	A	3.08%
NFG	A	1.74%
NJR	A	1.48%
SWX	A	1.44%
PAA	B	1.4%
OGS	A	1.33%
AROC	A	1.25%
ENLC	A	1.2%
SR	A	1.19%
SUN	C	0.99%
CPK	A	0.89%
NWN	A	0.5%
CQP	B	0.36%
USAC	B	0.32%
NFE	F	0.3%
GLP	A	0.24%
GEL	D	0.22%
DKL	C	0.09%
EE	A	0.08%
CAPL	D	0.07%

TPYP Underweight 11 Positions Relative to NBCT

Symbol	Grade	Weight
SRE	A	-4.25%
CNP	A	-3.96%
CWEN	C	-3.78%
AR	B	-3.69%
NEE	C	-3.16%
XOM	A	-2.93%
OXY	D	-2.86%
EQT	A	-2.29%
APD	A	-1.89%
DTE	C	-1.85%
LIN	D	-1.84%