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The Screen · Financials
TPYPTortoise North American Pipeline ETF
TPYP · the NYSE · USD
The fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the types of securities suggested by its name.
FAIL · Does not pass the screen
43.01 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 5 days ago
Screened 2026-10-23 · the tape above runs as of 20:04 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price43.01 USD at the 23 Oct 2026 close
Ethical screenDoes not pass
OptionsOpen interest leans heavily to calls (put/call 0.00)
Last reviewed23 Oct 2026 (5 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 43.01 against the desk's fair-value range, over the last year.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.00, read 2026-10-25
Ethical does not pass the values gate
Price43.01 USD
Ethical score30.0/100
Our investment reviews on this name
2026-10-25Read Distribution41.99+2.4% to today Markup gives way to Distribution first Distribution read since October
2026-10-18Read Markup41.99+2.4% to today ✓Distribution gives way to Markup first Markup read since September
2026-10-11Read Distribution42.47+1.3% to today Markdown gives way to Distribution first Distribution read since July
2026-10-02Read Markdown42.47+1.3% to today Markup gives way to Markdown with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Tortoise North American Pipeline ETF holds its Markup at $43.01. Consolidating, no directional conviction, held for 340 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 340 days
Price at the screen
$43.01
Valuation
21.14 trailing · N/A forward price to earnings
Values screen
FAIL· score 30.0
The Workings
Five Screens, Shown in Full
Does not pass. Financial sector: Financial
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Financial sector: Financial
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Tortoise North American Pipeline ETF does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when TPYP's ethical verdict changes
Today TPYP does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TPYP trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-10-18Markup · changed$41.99-1.1%Entry 8
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-10-02Markdown · changed$42.47+0.2%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-09-15Markup$42.36+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-08-15Markup · changed$42.36+0.0%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-07-18Distribution$42.36+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%.
2026-07-03Distribution$42.36+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$42.36Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
The Political Ledger · Congressional Disclosures
Disclosures naming TPYP
Date
Politician
Party
Type
Amount
2025-11-21
John Boozman
Republican
sell
1K–15K
2025-11-21
John Boozman
Republican
sell
1K–15K
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$42.15
+1.2%
·
$1,012
+1.2%
2 months
$42.10
+1.3%
·
$1,013
+1.3%
3 months
$41.52
+2.7%
$0.34
$1,035
+3.5%
6 months
$34.88
+22.3%
$0.68
$1,242
+24.2%
1 year
$33.98
+25.5%
$1.37
$1,295
+29.5%
2 years
$26.38
+61.7%
$2.74
$1,720
+72.0%
3 years
$21.70
+96.5%
$4.00
$2,149
+114.9%
5 years
$19.07
+123.7%
$6.26
$2,565
+156.5%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever TPYP does next, these words stay.
Tortoise North American Pipeline ETF · TPYP · Markup · $43.01
Recorded 2026-10-23 · before the outcome · scored mechanically