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Launched · SEC filings

Tortoise AI Infrastructure ETF

TCAINYSETortoiseB

$36.99−1.96 (−5.03%)

At close: Nov 2, 2026, 4:00 PM ET

B55/ 100

Rank 4 of 13 in AI Data Infrastructure

B55/100Rank 4 of 13inAI Data Infrastructure
Intraday session: down, 79 prints from 38.95 to 36.99. Range 36.99 to 39.30. Use the arrow keys to read each point.37.5038.0038.5010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$212M
1Y total return
+18.5%
Yield · Last 12 months
No data
Holdings
45
Avg volume · 30D
79.1K sh
52W range
low $27.46high $58.63
Launched
Filings
SEC EDGAR

The ETF.net TCAI Grade

B

Score 55 out of 100

Category
AI Data Infrastructure⁠
Rank
4 of 13
Six-pillar profile for TCAI. Scores out of 100: Cost 53, Risk 41, Mission 25, Tradability 60, Holdings 76, Durability 58. Strongest: Holdings (76). Weakest: Mission (25). Leans toward Holdings.

Score 55 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C53 out of 100
    Rank 5 of 13

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D25 out of 100
    Rank 4 of 4

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C41 out of 100
    Rank 7 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B60 out of 100
    Rank 5 of 13

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A76 out of 100
    Rank 2 of 10

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B58 out of 100
    Rank 6 of 13

Our read on TCAI

ETF.net Research

In short

BA stock picker's run at the AI buildout. TCAI is actively managed with no index to follow, aiming at the companies that supply AI infrastructure, and it prices right at the middle of its small niche.

Stated mandate

The Fund invests with an emphasis on companies involved in AI infrastructure. It is actively managed and does not seek to track an index.

Why people hold it

  • No index, no rulebook. The managers pick the AI infrastructure names themselves, so the portfolio can shift as the buildout does rather than wait for a quarterly reconstitution.
  • At 0.65% a year it lands on the median fee for its AI infrastructure cohort, and under the 0.69% charged by Defiance's AIPO, despite being run actively.
  • In a crowded new corner (seven funds chasing AI infrastructure), this one grades out in the upper half on our review.
  • Liquidity is a bright spot: it changes hands often enough that getting in and out is one of the smoother parts of owning it, unusual for a fund this new.

Worth knowing

  • Launched in August 2025, so the track record is thin. There is not yet enough history to judge how it behaves through a full market cycle.
  • Active costs more here. Index-run peers in the same niche, Franklin's XDAT at 0.50% and ProShares' DAT at 0.58%, undercut it.
  • Distributions come once or twice a year, and the fund is still mid-sized rather than a giant. This is a growth-theme holding, not an income line item.

TCAI Holdings

Holdings pillarA76 out of 100Rank 2 of 10 in AI Data Infrastructure
Asset class
Stocks
Holdings
45
Top-10 weight
43%
Largest holding
VRT6.5%

Sectors

  • Technology47.5%
  • Industrials30.2%
  • Financials7.0%
  • Utilities5.5%
  • Energy5.1%
  • Communication2.4%
  • Consumer Discretionary2.3%

Geography

  • United States88.58%
  • Germany3.99%
  • United Kingdom2.56%
  • South Korea1.99%
  • France1.28%
  • Australia1.19%
  • Canada0.41%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1VRTVertiv Holdings Co6.52%59,252$13.8M400
2DELLDell Technologies Inc4.94%24,605$10.4M448
3MUMicron Technology Inc4.86%11,603$10.3M686
4SNDKSandisk Corp4.25%7,801$8.98M471
5PWRQuanta Services Inc4.18%14,220$8.83M372
6MYRGMYR Group Inc3.88%29,009$8.2M160
7CIENCiena Corp3.75%24,720$7.93M400
8MTZMasTec Inc3.73%42,295$7.87M200
9GEVGE Vernova Inc3.59%8,846$7.59M485
10STXSeagate Technology Holdings PLC3.46%11,341$7.31M435
11WDCWestern Digital Corp3.35%19,305$7.07M471
12WULFTerawulf Inc2.72%490,537$5.75M100
13NVTnVent Electric PLC2.48%41,625$5.24M253
14WMBWilliams Cos Inc/The2.47%70,151$5.22M361
15ETREntergy Corp2.46%47,127$5.19M315

Showing 1–15 of 45 holdings

TCAI Performance

Launched Aug 4, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
TCAI$11,848
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TCAI $11,848. SPY $11,199. Use the arrow keys to read each point.$10,000$12,500$15,000$17,500Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TCAI. Periods over one year show the average yearly return.
PeriodTCAI
Year to date+31.2%
1 month−17.0%
3 months−15.5%
1 year+18.5%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TCAI
YearReturn barTCAI
2026 YTD+31.2%
2025+17.8%

History from Aug 5, 2025

TCAI in the news

TCAI Dividends

Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 31, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 31, 2025Jan 2, 2026$0.02

$10,000 in TCAI 1 year ago paid $4.56 in dividends.

TCAI Risk

Risk pillarC41 out of 100Rank 7 of 9 in AI Data Infrastructure
How much the fund’s monthly returns vary, scaled to a year.
48.0%
Annualised · 14 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.89
vs 3-month T-bills · 14 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−35.4%
14 months · trough Oct 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.65
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

TCAI Cost

Compare TCAI and WTAI

Overpaying vs WTAI, cheapest in AI Data Infrastructure

$3,676

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TCAI 0.65%

    $12,717

  • WTAI 0.45% Cheapest

    $9,041

$10,000
30 years

Cost over time

  • TCAI 0.65%
  • WTAI 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530TCAI $12,717WTAI $9,041

Year by year

YearTCAIWTAIOverpaying
10$1,163$812$351
20$4,440$3,128$1,312
30$12,717$9,041$3,676

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