CLOD vs. TCAI

Last updated Jun 24, 2026

CLOD (Themes Cloud Computing ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Technology Equities funds. CLOD is passively managed, while TCAI is actively managed. At a 0.35 correlation, their price movements are largely independent. CLOD charges 0.35%/yr vs 0.65%/yr for TCAI.

Performance

CLOD vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Tortoise AI Infrastructure ETF (TCAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOD achieves a -8.39% return, which is significantly lower than TCAI's 86.83% return.

CLOD

• 1D: 0.22%
• 1M: -5.33%
• YTD: -8.39%
• 6M: -9.76%
• 1Y: -8.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAI

• 1D: -4.84%
• 1M: 10.54%
• YTD: 86.83%
• 6M: 82.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLOD vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
CLOD Themes Cloud Computing ETF	-8.39%	-3.46%
TCAI Tortoise AI Infrastructure ETF	86.83%	17.27%

Correlation

The correlation between CLOD and TCAI is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.35

CLOD vs. TCAI - Sectors Allocation Comparison

Sectors	CLOD	TCAI
Technology	81.5%	51.4%
Communication Services	8.4%	1.6%
Consumer Cyclical	6.8%	1.3%
Industrials	1.3%	25.4%
Financial Services	0.8%	7.1%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	4.7%
Healthcare	-	-
Real Estate	-	0.6%
Utilities	-	8.6%

Return for Risk

CLOD vs. TCAI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLOD

CLOD Risk / Return Rank: 6
CLOD Sharpe Ratio Rank: 6
CLOD Sortino Ratio Rank: 6
CLOD Omega Ratio Rank: 6
CLOD Calmar Ratio Rank: 6
CLOD Martin Ratio Rank: 6

TCAI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLOD vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Tortoise AI Infrastructure ETF (TCAI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CLOD	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	—	—
Sortino ratio: Return per unit of downside risk	-0.30	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.28	—	—
Martin ratio: Return relative to average drawdown	-0.59	—	—

Drawdowns

CLOD vs. TCAI - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, which is greater than TCAI's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for CLOD and TCAI.

Drawdown Indicators

	CLOD	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-15.80%	-15.56%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	—	—
Current Drawdown Current decline from peak	-17.33%	-4.84%	-12.49%
Average Drawdown Average peak-to-trough decline	-7.62%	-3.54%	-4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.63%	—	—

Volatility

Volatility by Period

	CLOD	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.74%	37.57%	-11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.54%	37.57%	-13.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	37.57%	-13.03%

CLOD vs. TCAI - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

CLOD vs. TCAI - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.60%, more than TCAI's 0.03% yield.

Position	TTM	2025
CLOD Themes Cloud Computing ETF	1.60%	1.47%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%

Frequently Asked Questions

Can I hold both CLOD and TCAI in my portfolio?

CLOD and TCAI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOD or TCAI?

On fees, CLOD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOD or TCAI?

CLOD is cheaper with a 0.35% expense ratio, compared with 0.65% for TCAI.

Which ETF pays a higher dividend yield, CLOD or TCAI?

CLOD has the higher dividend yield at 1.60%, compared with 0.03% for TCAI.

What is the main difference between CLOD and TCAI?

They also come from different issuers: Themes and Tortoise. Their fees differ too: 0.35% for CLOD and 0.65% for TCAI.