DFNV vs. TCAI

Last updated Apr 1, 2026

Compare and contrast key facts about TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) and Tortoise AI Infrastructure ETF (TCAI).

DFNV and TCAI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFNV is a passively managed fund by TrimTabs that tracks the performance of the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index. It was launched on Dec 8, 2020. TCAI is an actively managed fund by Tortoise. It was launched on Aug 4, 2025.

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.

DFNV vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	-15.04%	2.94%
TCAI Tortoise AI Infrastructure ETF	16.67%	17.77%

Returns By Period

In the year-to-date period, DFNV achieves a -15.04% return, which is significantly lower than TCAI's 16.67% return.

DFNV

• 1D: 2.55%
• 1M: -3.84%
• YTD: -15.04%
• 6M: -17.93%
• 1Y: -2.08%
• 3Y*: 13.16%
• 5Y*: 6.22%
• 10Y*: —

TCAI

• 1D: 4.49%
• 1M: -6.61%
• YTD: 16.67%
• 6M: 16.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFNV vs. TCAI - Expense Ratio Comparison

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

DFNV

TrimTabs Donoghue Forlines Risk Managed Innovation ETF

TCAI

Tortoise AI Infrastructure ETF

Return for Risk

DFNV vs. TCAI — Risk / Return Rank

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

DFNV

DFNV Risk / Return Rank: 10
DFNV Sharpe Ratio Rank: 10
DFNV Sortino Ratio Rank: 10
DFNV Omega Ratio Rank: 10
DFNV Calmar Ratio Rank: 10
DFNV Martin Ratio Rank: 10

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.

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.

	DFNV	TCAI	Difference
Sharpe ratio Return per unit of total volatility	-0.10	—	—
Sortino ratio Return per unit of downside risk	0.01	—	—
Omega ratio Gain probability vs. loss probability	1.00	—	—
Calmar ratio Return relative to maximum drawdown	-0.10	—	—
Martin ratio Return relative to average drawdown	-0.29	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DFNV	TCAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	1.80	-1.45

Correlation

The correlation between DFNV and TCAI is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DFNV vs. TCAI - Dividend Comparison

DFNV's dividend yield for the trailing twelve months is around 0.44%, more than TCAI's 0.04% yield.

	TTM	2025	2024	2023	2022	2021	2020
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	0.44%	0.38%	1.28%	0.77%	1.20%	4.77%	0.02%
TCAI Tortoise AI Infrastructure ETF	0.04%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

DFNV vs. TCAI - Drawdown Comparison

The maximum DFNV drawdown since its inception was -29.71%, which is greater than TCAI's maximum drawdown of -15.80%. 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%	-15.80%	-13.91%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	—	—
Current Drawdown Current decline from peak	-18.92%	-8.07%	-10.85%
Average Drawdown Average peak-to-trough decline	-9.41%	-3.97%	-5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.45%	—	—

Volatility

Volatility by Period

	DFNV	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.67%	35.03%	-13.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.44%	35.03%	-15.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	35.03%	-15.39%