COOL vs TCAI: Grades, Fees and Holdings Compared

VegaShares AI Thermal, Cooling & Power Management ETF

COOL—Nasdaq

Tortoise AI Infrastructure ETF

TCAIBNYSE

Overlap

9.1%by weight

Expense ratio

TCAI −0.10pt a year

COOL0.75%TCAI0.65%

Avg volume · 30D

TCAI 25.9×the volume

COOL3.05KTCAI79.1K

COOL vs TCAI Performance

Oct 2, 2026 – Nov 2, 2026

−19.5%COOL−23.2%TCAI

Expense ratio: COOL 0.75%; TCAI 0.65%, better
Fund size: COOL $1M; TCAI $202M
1Y total return: COOL No data; TCAI +12.5%
Holdings: COOL 25; TCAI 45
Avg volume (30D): COOL 3.05K sh; TCAI 79.1K sh, better
NAV per share: COOL $18.24; TCAI $37.14
52W range

ETF.net Grade

—COOLNot yet graded

Pillar letters and Scores for COOL, TCAI, with each pillar’s weight
Pillar	COOL	TCAI
Cost30% weight	Not scored	C53
Mission25% weight	Not scored	D25
Risk15% weight	Not scored	C41
Tradability15% weight	Not scored	B60
Holdings10% weight	Not scored	A76
Durability5% weight	Not scored	B58

Rank among AI Data Infrastructure funds

How we build Categories ›

AI Data Infrastructure⁠

Category · 11 funds

See all 11 ›

TCAI ranks 4th of 11 funds in the AI Data Infrastructure Category.

Rank 1AWTAIWisdomTree Artificial Intelligence and Innovation FundScore 78
Rank 2ADTCRGlobal X Data Center & Digital Infrastructure ETFScore 75
Rank 3ARACKVanEck Data Center Supply Chain ETFScore 70
Rank 4BTCAITortoise AI Infrastructure ETFScore 55
Rank 5CAIPODefiance AI & Power Infrastructure ETFScore 53
COOLNot yet graded

Our read on each fund

ETF.net Research

COOL—VegaShares AI Thermal, Cooling & Power Management ETF

TCAIBTortoise AI Infrastructure ETF

In short

COOL No data

TCAI A 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

COOL No data

TCAI 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

COOL No data

TCAI 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

COOL No data

TCAI 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.

Full COOL profile⁠

Full TCAI profile⁠

COOL vs TCAI Holdings

How COOL and TCAI differ

Overlap by weight

9.1%

Shared holdings make up 33.7% of COOL and 9.4% of TCAI.

Level by level

Holdings3 in both9.1%
Countryby domicile78.0%
Asset classEquity100%

Sector

No Sector split for COOL.

Country, concentration and asset class

Country by domicile

Country weights in COOL and TCAI, widest gap first
Country	More in COOLMore in TCAI	COOL	TCAI
United States	TCAI +17.2 points	71.4%	88.6%
Japan	COOL +14.4 points	14.4%	0.0%
Singapore	COOL +3.7 points	3.7%	0.0%
United Kingdom	COOL +3.1 points	5.7%	2.6%
South Korea	TCAI +2.0 points	0.0%	2.0%
France	TCAI +1.3 points	0.0%	1.3%
Australia	TCAI +1.2 points	0.0%	1.2%
Germany	COOL +0.8 points	4.8%	4.0%
Canada	TCAI +0.4 points	0.0%	0.4%

Outside the US: COOL 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

COOL79.5%
TCAI43.2%

Securities held

COOL13
TCAI45

Asset class

COOL: Equity
TCAI: Equity

Holdings

Only in COOL10
In both3
Only in TCAI42

Only in COOL

10 securities, 27.8% of COOL by weight

Sanyo Denki Co Ltd4.27%
Navitas Semiconductor Corp4.26%
Advanced Energy Industries Inc4.14%
Vicor Corp3.58%
Monolithic Power Systems Inc3.48%
Infineon Technologies AG2.05%
Rohm Co Ltd1.74%
STMicroelectronics NV1.63%
Power Integrations Inc1.53%
ON Semiconductor Corp1.07%

Only in TCAI

42 securities, 90.6% of TCAI by weight

Micron Technology Inc4.78%
Dell Technologies Inc4.77%
Quanta Services Inc4.36%
Sandisk Corp4.14%
MasTec Inc4.05%
MYR Group Inc3.99%
GE Vernova Inc3.77%
Ciena Corp3.47%
Seagate Technology Holdings PLC3.33%
Western Digital Corp3.23%
Terawulf Inc2.65%
Entergy Corp2.56%
Williams Cos Inc/The2.47%
Constellation Energy Corp2.44%
Dycom Industries Inc2.41%
Arista Networks Inc2.30%
Amphenol Corp2.22%
Cipher Digital Inc2.11%
Hewlett Packard Enterprise Co2.09%
Credo Technology Group Holding Ltd2.07%
Modine Manufacturing Co2.01%
SK hynix Inc2.01%
Nebius Group NV1.81%
Infineon Technologies AG1.66%
Siemens Energy AG1.54%
Hut 8 Corp1.50%
Solaris Energy Infrastructure Inc1.47%
Lumentum Holdings Inc1.43%
Schneider Electric SE1.38%
Coherent Corp1.31%
Evergy Inc1.29%
DT Midstream Inc1.19%
AAON Inc1.11%
IREN Ltd1.10%
Innio NV0.97%
Riot Platforms Inc0.96%
Accelevation Holdings Corp0.95%
Forgent Power Solutions Inc0.94%
Comfort Systems USA Inc0.93%
Applied Digital Corp0.77%
Core Scientific Inc0.69%
Celestica Inc0.40%

Weight gaps

All 3 Holdings in both funds, largest gap first.

Holding weights in COOL and TCAI, widest gap first
Holding	More in COOLMore in TCAI	COOL	TCAI
First American Government Obligations Fund 12/01/2031	COOL +20.48 points	20.80%	0.32%
Vertiv Holdings CoVRT	COOL +4.11 points	10.67%	6.56%
nVent Electric PLCNVT	TCAI +0.28 points	2.26%	2.54%

All COOL holdings⁠All TCAI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

COOL vs TCAI Cost

Overpaying COOL vs TCAI

$1,765

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

COOL 0.75%
$14,482
TCAI 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

COOL 0.75%
TCAI 0.65%
Overpaying

Year by year

Year	COOL	TCAI	Overpaying
10	$1,336	$1,163	$173
20	$5,078	$4,440	$638
30	$14,482	$12,717	$1,765

Expense ratio

0.75%COOL
0.65%TCAI, cheaper

TCAI0.65%COOL0.75%

0.45%1.00%

Middle half of AI Data Infrastructure funds
Median 0.65%

TCAI 5th cheapest of 11 funds

COOL 9th cheapest of 11 funds

COOL vs TCAI Dividends

Last 12 months to Nov 2, 2026

Payout (12M): COOL None; TCAI No data
Last payment: COOL No data; TCAI $0.02
Ex-dividend: COOL No data; TCAI Dec 31, 2025
Paid on: COOL No data; TCAI Jan 2, 2026
Frequency: COOL No data; TCAI Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

COOLAll COOL payments⁠

No distribution history available.

TCAIIrregular · 1 paymentAll TCAI payments⁠

COOL vs TCAI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: COOL No dataTCAI 48.0%since Sep 2025
Return per unit of riskSharpe ratio, 3 years: COOL No dataTCAI 0.89since Sep 2025
Worst fallMax drawdown, 5 years: COOL No dataTCAI −36.5%since Aug 2025
Market sensitivityBeta, 5 years: COOL 0.00TCAI 2.65; Market = 1

COOL and TCAI in the news

All news⁠

ETF Filings
Roundhill puts an AI power ETF in registration as APOW
Sep 21, 2026COOL
ETF Filings
Tuttle files eight Income Blast ETFs, including baskets that name OpenAI and Anthropic
Sep 15, 2026TCAI

Popular comparisons

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COOL—vsRACKA
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COOL vs TCAI

In short

Stated mandate

Why people hold it

Worth knowing

How COOL and TCAI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in COOL

Only in TCAI

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Roundhill puts an AI power ETF in registration as APOW

Tuttle files eight Income Blast ETFs, including baskets that name OpenAI and Anthropic

How COOL and TCAI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in COOL

Only in TCAI

Weight gaps