The Tortoise Real Yield Index® is a differentiated index that aims to track real asset exposure anchored in current income.

Index Stats as of 3/08/2019:

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Price Return Ticker

TYLD

Total Return Ticker

TYLDT

Base Date

3/02/2007

Inception Date

8/26/2015

Calculated by

NYSE

Rebalancing

Quarterly

Number of Constituents

147

Market Capitalization

$1,282 billion

Average Constituent Size

$8,779 million

Median Constituent Size

$4,299 million

Overview

The Tortoise Real Yield Index® is a differentiated index that aims to track real asset exposure anchored in current income. It provides an efficient benchmark for real yielding, tax pass-through, liquid companies that distribute substantial cash flow streams to investors by investing in REITs (real estate investment trusts), MLPs (master limited partnerships) and BDCs (business development companies). The index provides a benchmark of companies with tangible essential assets that are supportive of economic activity with no commodity futures, precious metals, TIPS (treasury inflation-protected securities) or foreign currency exposure.

Why Real Yield®

  • Comprehensive yield-focused real asset companies illustrate relevant investment opportunity, now and
    across business cycles
  • What defined the last 25 years – declining interest rates and low inflation – is not necessarily what
    can be expected going forward
  • Defines equity-like exposure to real assets with attractive yield and diversification potential
  • Helpful benchmark for investors with recurring, multi-year funding obligations
 

Key Eligibility Requirements:

  • NYSE, NASDAQ, NYSE MKT or another major U.S. exchange-listed REITs (excluding mortgage REITs), oil & gas MLPs and BDCs
  • Market capitalization of $500 million for REITs and MLPs, $300 million for BDCs
  • 3-month average daily value traded is $5 million for REITs and MLPs and $3 million for BDCs

Performance

Index Performance (as of 3/31/2019) 1 Year 3 Year 5 Year 10 Year
Total Return 16.87% 8.37% 3.19% 16.57%
Price Return 9.25% 1.12% -3.17% 10.22%

Total Return History

(as of 4/18/2019)

Price Return History

(as of 4/18/2019)

Constituents

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Top 10 Constituents

As of most recent rebalance date (3/08/2019)
Constituent Name Index Weight
Ares Capital Corporation
13.10%
Enterprise Products Partners L.P.
9.40%
Prospect Capital Corporation
4.40%
Main Street Capital Corporation
4.20%
MPLX LP
4.10%
Constituent Name Index Weight
Plains All American Pipeline, L.P.
2.60%
W.P. Carey Inc.
2.50%
Hercules Capital, Inc.
2.40%
Cheniere Energy Partners, L.P.
2.40%
TPG Specialty Lending, Inc.
2.30%

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