IVEP vs TCAI

IVEPDDan IVES Wedbush AI Power & Infrastructure ETF

TCAIBTortoise AI Infrastructure ETF

In short

IVEP A Wall Street research call in an ETF wrapper: IVEP owns the roughly 30 names from Dan Ives' AI Power 30 list, aiming at the turbines, grid gear and data centers behind AI rather than the chips inside.

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

IVEP The Fund seeks exposure to companies connected to AI power and infrastructure. Its Solactive index identifies eligible companies using natural-language processing and a requirement that at least 50% of revenue come from designated AI power businesses.

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

• IVEP The AI trade one layer down: power generation, grid equipment, data centers and enabling materials, filtered to companies drawing at least 50% of revenue from AI power businesses.mondovisione.com
• Solactive builds the index from the Dan Ives AI Power 30 report: a published analyst call, reconstituted semi-annually as new reports land and rebalanced quarterly.globenewswire.comtradingview.com
• Roughly 30 holdings, weighted by free-float market cap with caps to curb concentration, so it spreads across the buildout instead of riding one utility or one equipment maker.tradingview.commondovisione.com
• Sequel to IVES, the Wedbush platform's first ETF, launched 2025. Same research desk, aimed at the physical layer rather than software and semis.globenewswire.com

• 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

• IVEP Costs 0.75% a year, above the 0.65% typical of AI infrastructure peers and above TCAI (0.65%) and AIPO (0.69%).
• Launched in 2026 and still small and thinly traded, so bid-ask spreads can run wider than at the category's established funds.
• The lineup tracks one research desk's list. When that report changes, the portfolio changes with it.mondovisione.com

• 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 IVEP profile⁠

Full TCAI profile⁠