PAYR vs TMLP
Comparison between FEDERATED HERMES ENHANCED INCOME ETF (PAYR, ETF) and Tortoise MLP ETF (TMLP, ETF).
PAYR vs TMLP - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PAYR
$41M
Winner
TMLP
$41M
Expense Ratio
Winner
PAYR
0.40%
TMLP
0.50%
Max Drawdown
Winner
PAYR
7.28%
TMLP
8.76%
Sharpe Ratio
PAYR
1.64
Winner
TMLP
2.02
5Y Beta
PAYR
0.03
Winner
TMLP
-0.28
P/E Ratio
PAYR
18.12
TMLP
N/A
Forward P/E
PAYR
15.55
TMLP
N/A
PEG Ratio
PAYR
0.55
TMLP
N/A
5Y EPS CAGR
PAYR
3.85%
TMLP
N/A
Debt to Equity
PAYR
50.44%
TMLP
N/A
P/S Ratio
PAYR
2.85
TMLP
N/A
P/B Ratio
PAYR
2.55
TMLP
N/A
PAYR vs TMLP - Holdings Comparison
PAYR and TMLP have 1 common holdings. Overlap is -49.86%
PAYR's top 25 holdings weight is 68.10%. TMLP's top 25 holdings weight is 101.65%.
| Rank | PAYR | TMLP |
|---|---|---|
| #1 | U.S. BANCORP (USB) - 3.99% | TORTOISE MLP TOTAL RETURN INDEX SWAP GS-L (n/a) - 50.90% |
| #2 | MICRO E-MINI S&P 500 INDEX FUTURE SEPT 26 (n/a) - 3.71% | HESS MIDSTREAM LP CLASS A (HESM) - 5.71% |
| #3 | PAYCHEX INC (PAYX) - 3.65% | WILLIAMS COMPANIES INC (WMB) - 5.55% |
| #4 | ABBVIE INC (ABBV) - 3.54% | TARGA RESOURCES CORP (TRGP) - 5.35% |
| #5 | ENBRIDGE INC (n/a) - 3.19% | TC ENERGY CORP (n/a) - 3.82% |
| #6 | BRITISH AMERICAN TOBACCO PLC ADR (BTI) - 3.07% | U.S. BANK MONEY MARKET DEPOSIT ACCOUNT (n/a) - 3.66% |
| #7 | KIMCO REALTY CORP (KIM) - 3.04% | ONEOK INC (OKE) - 3.28% |
| #8 | SANOFI SA ADR (SNY) - 2.86% | CHENIERE ENERGY INC (LNG) - 3.24% |
| #9 | TOTALENERGIES SE (n/a) - 2.85% | PLAINS ALL AMERICAN PIPELINE LP (PAA) - 2.40% |
| #10 | VERIZON COMMUNICATIONS INC (VZ) - 2.76% | ENTERPRISE PRODUCTS PARTNERS LP (EPD) - 2.22% |
| #11 | PNC FINANCIAL SERVICES GROUP INC (PNC) - 2.76% | ENERGY TRANSFER LP (ET) - 2.19% |
| #12 | TC ENERGY CORP (TRP) - 2.75% | ENBRIDGE INC (ENB) - 2.11% |
| #13 | PROLOGIS INC (PLD) - 2.70% | WESTERN MIDSTREAM PARTNERS LP (WES) - 2.00% |
| #14 | FIRSTENERGY CORP (FE) - 2.51% | MPLX LP PARTNERSHIP UNITS (MPLX) - 2.00% |
| #15 | PFIZER INC (PFE) - 2.49% | CHENIERE ENERGY PARTNERS LP (CQP) - 1.56% |
| #16 | MEDTRONIC PLC (MDT) - 2.40% | SUNOCO LP (SUN) - 1.48% |
| #17 | PEPSICO INC (PEP) - 2.37% | DT MIDSTREAM INC ORDINARY SHARES (DTM) - 1.09% |
| #18 | WEC ENERGY GROUP INC (WEC) - 2.33% | ANTERO MIDSTREAM CORP (AM) - 0.92% |
| #19 | AMCOR PLC ORDINARY SHARES (AMCR) - 2.29% | KODIAK GAS SERVICES INC (KGS) - 0.90% |
| #20 | EVERGY INC (EVRG) - 2.25% | EXCELERATE ENERGY INC CLASS A (EE) - 0.53% |
| #21 | PHILIP MORRIS INTERNATIONAL INC (PM) - 2.20% | KINDER MORGAN INC CLASS P (KMI) - 0.51% |
| #22 | AMERICAN TOWER CORP (AMT) - 2.15% | PEMBINA PIPELINE CORP (n/a) - 0.25% |
| #23 | ALLIANZ SE ADR (ALIZY) - 2.09% | KINETIK HOLDINGS INC (KNTK) - 0.18% |
| #24 | NATIONAL GRID PLC ADR (NGG) - 2.08% | US DOLLARS (n/a) - 0.00% |
| #25 | MERCK & CO INC (MRK) - 2.07% | OTHER ASSETS AND LIABILITIES (n/a) - -0.20% |
| Total Holdings | 55 | 26 |
PAYR vs TMLP - Historical Returns
Returns include dividend reinvestment.
1M
PAYR
+4.62%
Winner
TMLP
+6.04%
3M
PAYR
+4.81%
Winner
TMLP
+7.76%
6M
PAYR
+10.02%
Winner
TMLP
+15.64%
Max(CAGR)
PAYR
+23.32%
Winner
TMLP
+36.58%
PAYR vs TMLP - Annual Returns (2025 - 2026)
Returns include dividend reinvestment.
| Year | PAYR | TMLP |
|---|---|---|
| 2026 | +13.27% | +18.83% |
| 2025 | +3.74% | +0.05% |
PAYR vs TMLP Drawdown Comparison
The maximum drawdown for PAYR was -5.24%, occurring on Mar 20, 2026. Recovery took 85 trading sessions.
The maximum drawdown for TMLP was -8.55%, occurring on Jun 24, 2026. This drawdown has not yet recovered.
The current PAYR drawdown is -0.96%. The current TMLP drawdown is -2.23%.
| Rank | PAYR | TMLP |
|---|---|---|
| #1 | -5.24% Mar 2, 2026 - Jul 2, 2026 | -8.55% May 19, 2026 - Jun 24, 2026 |
| #2 | -2.50% Oct 22, 2025 - Nov 11, 2025 | -6.20% Mar 26, 2026 - Apr 30, 2026 |
| #3 | -1.60% Jul 2, 2026 - Jul 16, 2026 | -2.45% May 4, 2026 - May 12, 2026 |
| #4 | -1.54% Nov 26, 2025 - Dec 15, 2025 | -2.00% Mar 2, 2026 - Mar 19, 2026 |
| #5 | -1.42% Nov 12, 2025 - Nov 25, 2025 | -1.68% Jan 2, 2026 - Jan 12, 2026 |
| #6 | -0.96% Jul 16, 2026 - Jul 21, 2026 | -1.30% Jan 29, 2026 - Feb 3, 2026 |
| #7 | -0.90% Dec 15, 2025 - Dec 24, 2025 | -0.63% Apr 30, 2026 - May 4, 2026 |
| #8 | -0.79% Oct 8, 2025 - Oct 14, 2025 | -0.58% Jan 16, 2026 - Jan 22, 2026 |
| #9 | -0.75% Oct 15, 2025 - Oct 17, 2025 | -0.57% Feb 23, 2026 - Feb 27, 2026 |
| #10 | -0.72% Dec 30, 2025 - Jan 8, 2026 | -0.52% Mar 24, 2026 - Mar 26, 2026 |
| #11 | -0.57% Feb 11, 2026 - Feb 13, 2026 | -0.35% Jan 14, 2026 - Jan 16, 2026 |
| #12 | -0.44% Jan 27, 2026 - Jan 29, 2026 | -0.30% Mar 19, 2026 - Mar 23, 2026 |
| #13 | -0.43% Feb 13, 2026 - Feb 23, 2026 | -0.28% Jan 23, 2026 - Jan 27, 2026 |
| #14 | -0.31% Jan 16, 2026 - Jan 21, 2026 | -0.21% Dec 24, 2025 - Dec 30, 2025 |
| #15 | -0.23% Feb 4, 2026 - Feb 6, 2026 | -0.21% Feb 11, 2026 - Feb 13, 2026 |
Correlation
Correlation between PAYR and TMLP is 0.90 which considered as a very strong positive correlation - the stocks move almost identically together.
0.90
-101
Dividend Comparison (2025 - 2026)
PAYR vs TMLP dividend yield comparison.
| Year | PAYR | TMLP |
|---|---|---|
| 2026 | 4.20% | 3.71% |
| 2025 | 1.99% | 0.04% |
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