IGPT vs. TCAI

Last updated Aug 4, 2026

IGPT (Invesco AI and Next Gen Software ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Artificial Intelligence funds. IGPT is passively managed, while TCAI is actively managed. Their correlation of 0.82 means they have usually moved in the same direction. IGPT charges 0.56%/yr vs 0.65%/yr for TCAI.

Performance

IGPT vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco AI and Next Gen Software ETF (IGPT) 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, IGPT achieves a 50.51% return, which is significantly lower than TCAI's 60.69% return.

IGPT

• 1D: 3.23%
• 1M: -6.05%
• 6M: 36.61%
• YTD: 50.51%
• 1Y: 80.58%
• 3Y*: 37.96%
• 5Y*: 12.94%
• 10Y*: 19.82%
• ALL TIME*: 15.04%

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)
IGPT Invesco AI and Next Gen Software ETF	$24.39M	$21.86M	$21.83M
TCAI Tortoise AI Infrastructure ETF	$4.59M	$5.30M	$6.77M

IGPT vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
IGPT Invesco AI and Next Gen Software ETF	50.51%	17.46%
TCAI Tortoise AI Infrastructure ETF	60.69%	17.27%

Correlation

The correlation between IGPT and TCAI is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.82

IGPT vs. TCAI - Sectors Allocation Comparison

Sectors	IGPT	TCAI
Technology	76.6%	44.4%
Communication Services	16.9%	2.2%
Real Estate	2.4%	0.6%
Healthcare	2.1%	-
Industrials	2.0%	30.5%
Consumer Cyclical	0.1%	2.1%
Financial Services	0.1%	7.2%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	3.9%
Utilities	-	9.8%

Return for Risk

IGPT vs. TCAI — Risk / Return Rank

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

IGPT

IGPT Risk / Return Rank: 84
IGPT Sharpe Ratio Rank: 89
IGPT Sortino Ratio Rank: 81
IGPT Omega Ratio Rank: 82
IGPT Calmar Ratio Rank: 85
IGPT Martin Ratio Rank: 85

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.

IGPT vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco AI and Next Gen Software ETF (IGPT) 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.

	IGPT	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	2.20	—	—
Sortino ratio: Return per unit of downside risk	2.69	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	3.27	—	—
Martin ratio: Return relative to average drawdown	12.33	—	—

Drawdowns

IGPT vs. TCAI - Drawdown Comparison

The maximum IGPT drawdown since its inception was -50.14%, which is greater than TCAI's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for IGPT and TCAI.

Drawdown Indicators

	IGPT	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-50.14%	-28.82%	-21.32%
Max Drawdown (1Y) Largest decline over 1 year	-24.74%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.14%	—	—
Current Drawdown Current decline from peak	-17.20%	-18.15%	+0.95%
Average Drawdown Average peak-to-trough decline	-11.95%	-4.77%	-7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	—	—

Volatility

Volatility by Period

	IGPT	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.96%	41.75%	-4.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.58%	41.75%	-12.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.31%	41.75%	-14.44%

IGPT vs. TCAI - Expense Ratio Comparison

IGPT has a 0.56% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

IGPT vs. TCAI - Dividend Comparison

IGPT's dividend yield for the trailing twelve months is around 0.01%, less than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGPT Invesco AI and Next Gen Software ETF	0.01%	0.04%	0.00%	0.00%	1.41%	6.21%	0.04%	0.05%	0.00%	0.00%	0.03%	0.15%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGPT and TCAI in my portfolio?

IGPT and TCAI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IGPT or TCAI?

On fees, IGPT is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGPT or TCAI?

IGPT is cheaper with a 0.56% expense ratio, compared with 0.65% for TCAI.

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

TCAI has the higher dividend yield at 0.03%, compared with 0.01% for IGPT.

What is the main difference between IGPT and TCAI?

They also come from different issuers: Invesco and Tortoise. Their fees differ too: 0.56% for IGPT and 0.65% for TCAI.