Description

The Tortoise Electrification Infrastructure ETF (TPZ) primarily invests in both equity and fixed-income securities, focusing predominantly on U.S. companies involved in electrification infrastructure. Its core aim is to deliver consistent income, proving resilient across various economic cycles. The fund targets businesses that utilize long-lived assets essential for the generation, transmission, and distribution of electric power, as well as associated energy infrastructure such as utility companies, pipeline networks, liquefied natural gas (LNG) facilities, and renewable energy projects. Up to 50% of the portfolio may be dedicated to fixed-income investments, which are not restricted by maturity. The fund maintains strict limits, capping high-yield (junk) bonds at 25%, Master Limited Partnerships (MLPs) at 25%, and non-U.S. issuers at 10% of its holdings. Furthermore, this actively managed fund implements a covered call strategy on select equity positions to potentially enhance returns. Initially launched with $313 million in assets under management, the ETF was established through the merger of three closed-end funds: Tortoise Power and Energy Infrastructure (TPZ), Tortoise Energy Independence Fund, Inc. (NDP), and Tortoise Pipeline & Energy Fund, Inc. It was known as the Tortoise Essential Energy Fund before January 1, 2026.