DFNV vs. TCAI

Last updated Aug 4, 2026

DFNV (TrimTabs Donoghue Forlines Risk Managed Innovation ETF) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - DFNV is a Technology Equities fund tracking the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index, while TCAI is a Artificial Intelligence fund actively managed by Tortoise. DFNV is passively managed, while TCAI is actively managed. Their 0.23 correlation means their historical movements had little consistent relationship. DFNV charges 0.69%/yr vs 0.65%/yr for TCAI.

Performance

DFNV vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) 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, DFNV achieves a 5.19% return, which is significantly lower than TCAI's 60.69% return.

DFNV

• 1D: 1.41%
• 1M: 3.25%
• 6M: 13.45%
• YTD: 5.19%
• 1Y: 8.91%
• 3Y*: 18.30%
• 5Y*: 8.34%
• 10Y*: —
• ALL TIME*: 10.69%

TCAI

• 1D: 3.49%
• 1M: -4.18%
• 6M: 39.26%
• YTD: 60.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	$4.83K	$15.31K	$12.56K
TCAI Tortoise AI Infrastructure ETF	$4.59M	$5.30M	$6.77M

DFNV vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	5.19%	1.73%
TCAI Tortoise AI Infrastructure ETF	60.69%	17.27%

Correlation

The correlation between DFNV and TCAI is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.23

DFNV vs. TCAI - Sectors Allocation Comparison

Sectors	DFNV	TCAI
Technology	60.9%	44.4%
Healthcare	16.2%	-
Communication Services	12.0%	2.2%
Consumer Cyclical	9.0%	2.1%
Industrials	1.9%	30.5%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	3.9%
Financial Services	-	7.2%
Real Estate	-	0.6%
Utilities	-	9.8%

Return for Risk

DFNV vs. TCAI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DFNV

DFNV Risk / Return Rank: 20
DFNV Sharpe Ratio Rank: 21
DFNV Sortino Ratio Rank: 21
DFNV Omega Ratio Rank: 21
DFNV Calmar Ratio Rank: 17
DFNV Martin Ratio Rank: 17

TCAI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DFNV vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) 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.

	DFNV	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	0.47	—	—
Sortino ratio: Return per unit of downside risk	0.77	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.42	—	—
Martin ratio: Return relative to average drawdown	0.97	—	—

Drawdowns

DFNV vs. TCAI - Drawdown Comparison

The maximum DFNV drawdown since its inception was -29.71%, roughly equal to the maximum TCAI drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for DFNV and TCAI.

Drawdown Indicators

	DFNV	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-29.71%	-28.82%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	—	—
Current Drawdown Current decline from peak	-1.86%	-18.15%	+16.29%
Average Drawdown Average peak-to-trough decline	-9.36%	-4.77%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	—	—

Volatility

Volatility by Period

	DFNV	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	41.75%	-22.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.93%	41.75%	-21.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	41.75%	-21.98%

DFNV vs. TCAI - Expense Ratio Comparison

DFNV has a 0.69% expense ratio, which is higher than TCAI's 0.65% expense ratio.

Dividends

DFNV vs. TCAI - Dividend Comparison

DFNV's dividend yield for the trailing twelve months is around 0.33%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	0.33%	0.38%	1.28%	0.77%	1.20%	4.77%	0.02%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFNV and TCAI in my portfolio?

DFNV and TCAI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFNV or TCAI?

On fees, TCAI is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFNV or TCAI?

TCAI is cheaper with a 0.65% expense ratio, compared with 0.69% for DFNV.

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

DFNV has the higher dividend yield at 0.33%, compared with 0.03% for TCAI.

What is the main difference between DFNV and TCAI?

DFNV is categorized as Technology Equities, while TCAI is Artificial Intelligence. They also come from different issuers: TrimTabs and Tortoise. Their fees differ too: 0.69% for DFNV and 0.65% for TCAI.