FCLD vs. TCAI

Last updated Jun 4, 2026

FCLD (Fidelity Cloud Computing ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Technology Equities funds. FCLD is passively managed, while TCAI is actively managed. At a 0.49 correlation, their price movements are largely independent. FCLD charges 0.39%/yr vs 0.65%/yr for TCAI.

Performance

FCLD vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Cloud Computing ETF (FCLD) 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, FCLD achieves a 34.57% return, which is significantly lower than TCAI's 89.63% return.

FCLD

• 1D: -2.61%
• 1M: 19.91%
• YTD: 34.57%
• 6M: 36.74%
• 1Y: 45.14%
• 3Y*: 28.24%
• 5Y*: —
• 10Y*: —

TCAI

• 1D: -0.27%
• 1M: 19.58%
• YTD: 89.63%
• 6M: 85.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCLD vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
FCLD Fidelity Cloud Computing ETF	34.57%	7.80%
TCAI Tortoise AI Infrastructure ETF	89.63%	17.77%

Correlation

The correlation between FCLD and TCAI is 0.49, 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 6, 2025	0.49

FCLD vs. TCAI - Sectors Allocation Comparison

Sectors	FCLD	TCAI
Technology	86.1%	44.0%
Real Estate	7.9%	0.6%
Communication Services	3.7%	1.1%
Consumer Cyclical	2.3%	1.4%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	6.1%
Financial Services	-	6.4%
Healthcare	-	-
Industrials	-	29.9%
Utilities	-	11.1%

Return for Risk

FCLD vs. TCAI — Risk / Return Rank

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

FCLD

FCLD Risk / Return Rank: 46
FCLD Sharpe Ratio Rank: 47
FCLD Sortino Ratio Rank: 45
FCLD Omega Ratio Rank: 43
FCLD Calmar Ratio Rank: 52
FCLD Martin Ratio Rank: 42

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.

FCLD vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) 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.

	FCLD	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	1.66	—	—
Sortino ratio: Return per unit of downside risk	2.27	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.60	—	—
Martin ratio: Return relative to average drawdown	6.81	—	—
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

	FCLD	TCAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	4.61	-4.27

Drawdowns

FCLD vs. TCAI - Drawdown Comparison

The maximum FCLD drawdown since its inception was -50.85%, which is greater than TCAI's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for FCLD and TCAI.

Drawdown Indicators

	FCLD	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-50.85%	-15.80%	-35.05%
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-34.80%	—	—
Current Drawdown Current decline from peak	-4.00%	-0.27%	-3.73%
Average Drawdown Average peak-to-trough decline	-20.51%	-3.43%	-17.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.64%	—	—

Volatility

Volatility by Period

	FCLD	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.40%	35.82%	-8.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.50%	35.82%	-5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.50%	35.82%	-5.32%

FCLD vs. TCAI - Expense Ratio Comparison

FCLD has a 0.39% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

FCLD vs. TCAI - Dividend Comparison

FCLD's dividend yield for the trailing twelve months is around 0.02%, less than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	0.02%	0.03%	0.13%	0.17%	0.26%	0.13%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCLD and TCAI in my portfolio?

FCLD and TCAI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCLD or TCAI?

On fees, FCLD is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCLD or TCAI?

FCLD is cheaper with a 0.39% expense ratio, compared with 0.65% for TCAI.

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

FCLD and TCAI have nearly identical dividend yields, around 0.02%.

What is the main difference between FCLD and TCAI?

They also come from different issuers: Fidelity and Tortoise. Their fees differ too: 0.39% for FCLD and 0.65% for TCAI.