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LUMA vs TCAI

KraneShares Photonic and Optical ETF

LUMAFNYSE Arca

Tortoise AI Infrastructure ETF

TCAIBNYSE

Overlap

Expense ratio

TCAI −0.35pt a year

LUMA1.00%TCAI0.65%

Avg volume · 30D

TCAI 4.8×the volume

LUMA16.6KTCAI79.1K

LUMA vs TCAI Performance

Jul 31, 2026 – Oct 30, 2026

−10.7%LUMA−15.5%TCAI

Jul 31, 2026 to Oct 30, 2026. LUMA −10.7%. TCAI −15.5%. Use the arrow keys to read each point.0%10%20%30%Jul 2026Sep 2026Oct 2026
Expense ratio
LUMA 1.00%
TCAI 0.65%, better
Fund size
LUMA $8M
TCAI $212M
1Y total return
LUMA No data
TCAI +18.5%
Holdings
LUMA 28
TCAI 45
Avg volume (30D)
LUMA 16.6K sh
TCAI 79.1K sh, better
NAV per share
LUMA $19.52
TCAI $38.75
52W range

ETF.net Grade

LUMA: Cost 2, Risk 32, Mission not scored, Tradability 35, Holdings 49, Durability 37. TCAI: Cost 53, Risk 41, Mission 25, Tradability 60, Holdings 76, Durability 58.
Pillar letters and Scores for LUMA, TCAI, with each pillar’s weight
PillarLUMATCAI
Cost30% weightF2C53Higher
Mission25% weightNot scoredD25
Risk15% weightD32C41Higher
Tradability15% weightD35B60Higher
Holdings10% weightC49A76Higher
Durability5% weightD37B58Higher

Rank among AI Data Infrastructure funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. LUMA and TCAI are both graded against the same 11 AI Data Infrastructure funds, so their Grades compare head to head.

AI Data Infrastructure⁠

Category · 11 funds
See all 11 ›

TCAI ranks 4th and LUMA 9th of 11 funds in the AI Data Infrastructure Category.

  1. Rank 1AWTAIWisdomTree Artificial Intelligence and Innovation FundScore 78
  2. Rank 2ADTCRGlobal X Data Center & Digital Infrastructure ETFScore 75
  3. Rank 3ARACKVanEck Data Center Supply Chain ETFScore 70
  4. Rank 4BTCAITortoise AI Infrastructure ETFScore 55
  5. Rank 5CAIPODefiance AI & Power Infrastructure ETFScore 53
  6. Rank 8DIVEPDan IVES Wedbush AI Power & Infrastructure ETFScore 39
  7. Rank 9FLUMAKraneShares Photonic and Optical ETFScore 23
  8. CCMLNot yet graded
  9. COOLNot yet graded

Our read on each fund

ETF.net Research

LUMAFKraneShares Photonic and Optical ETF

TCAIBTortoise AI Infrastructure ETF

In short

LUMA 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

LUMA 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

LUMA 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

LUMA 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 LUMA profile⁠

Full TCAI profile⁠

LUMA vs 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.

LUMA vs TCAI Cost

Overpaying LUMA vs TCAI

$5,971

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

  • LUMA 1.00%

    $18,688

  • TCAI 0.65%

    $12,717

$10,000
30 years

Cost over time

  • LUMA 1.00%
  • TCAI 0.65%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530LUMA $18,688TCAI $12,717

Year by year

YearLUMATCAIOverpaying
10$1,763$1,163$600
20$6,625$4,440$2,185
30$18,688$12,717$5,971

Expense ratio

  • 1.00%LUMA
  • 0.65%TCAI, cheaper
  • Middle half of AI Data Infrastructure funds
  • Median 0.65%

TCAI 5th cheapest of 11 funds

LUMA 11th cheapest of 11 funds

LUMA vs TCAI Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
LUMA None
TCAI No data
Last payment
LUMA No data
TCAI $0.02
Ex-dividend
LUMA No data
TCAI Dec 31, 2025
Paid on
LUMA No data
TCAI Jan 2, 2026
Frequency
LUMA No data
TCAI Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

LUMAAll LUMA payments⁠

No distribution history available.

TCAIIrregular · 1 paymentAll TCAI payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 31, 2025 $0.02. Use the arrow keys to read each point.$0$0.012026YTD

LUMA vs TCAI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LUMA No dataTCAI 48.0%since Sep 2025
Return per unit of riskSharpe ratio, 3 years
LUMA No dataTCAI 0.89since Sep 2025
Worst fallMax drawdown, 5 years
LUMA No dataTCAI −35.4%since Aug 2025
Market sensitivityBeta, 5 years
LUMA 0.00TCAI 2.65

LUMA and TCAI in the news

All news⁠

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