IPAY vs. TCAI

Last updated Aug 4, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while TCAI is a Artificial Intelligence fund actively managed by Tortoise. IPAY is passively managed, while TCAI is actively managed. Their 0.14 correlation means their historical movements had little consistent relationship. IPAY charges 0.75%/yr vs 0.65%/yr for TCAI.

Performance

IPAY vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) 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, IPAY achieves a -2.46% return, which is significantly lower than TCAI's 60.69% return.

IPAY

• 1D: 1.56%
• 1M: 4.88%
• 6M: 3.61%
• YTD: -2.46%
• 1Y: -9.51%
• 3Y*: 6.01%
• 5Y*: -5.73%
• 10Y*: 7.66%
• ALL TIME*: 6.67%

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)
IPAY ETFMG Prime Mobile Payments ETF	$3.69M	$3.96M	$2.49M
TCAI Tortoise AI Infrastructure ETF	$4.59M	$5.30M	$6.77M

IPAY vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
IPAY ETFMG Prime Mobile Payments ETF	-2.46%	-9.21%
TCAI Tortoise AI Infrastructure ETF	60.69%	17.27%

Correlation

The correlation between IPAY and TCAI is 0.14, 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	0.14

IPAY vs. TCAI - Sectors Allocation Comparison

Sectors	IPAY	TCAI
Technology	52.0%	44.4%
Financial Services	43.1%	7.2%
Industrials	4.9%	30.5%
Basic Materials	-	-
Communication Services	-	2.2%
Consumer Cyclical	-	2.1%
Consumer Defensive	-	-
Energy	-	3.9%
Healthcare	-	-
Real Estate	-	0.6%
Utilities	-	9.8%

Return for Risk

IPAY vs. TCAI — Risk / Return Rank

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

IPAY

IPAY Risk / Return Rank: 7
IPAY Sharpe Ratio Rank: 6
IPAY Sortino Ratio Rank: 6
IPAY Omega Ratio Rank: 6
IPAY Calmar Ratio Rank: 7
IPAY Martin Ratio Rank: 8

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.

IPAY vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) 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.

	IPAY	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	—	—
Sortino ratio: Return per unit of downside risk	-0.37	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.31	—	—
Martin ratio: Return relative to average drawdown	-0.52	—	—

Drawdowns

IPAY vs. TCAI - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, which is greater than TCAI's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for IPAY and TCAI.

Drawdown Indicators

	IPAY	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-28.82%	-22.93%
Max Drawdown (1Y) Largest decline over 1 year	-30.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	—	—
Current Drawdown Current decline from peak	-29.38%	-18.15%	-11.23%
Average Drawdown Average peak-to-trough decline	-16.93%	-4.77%	-12.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.21%	—	—

Volatility

Volatility by Period

	IPAY	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.73%	41.75%	-17.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.33%	41.75%	-15.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	41.75%	-16.32%

IPAY vs. TCAI - Expense Ratio Comparison

IPAY has a 0.75% expense ratio, which is higher than TCAI's 0.65% expense ratio.

Dividends

IPAY vs. TCAI - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.81%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024
IPAY ETFMG Prime Mobile Payments ETF	0.81%	0.79%	0.77%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%

Frequently Asked Questions

Can I hold both IPAY and TCAI in my portfolio?

IPAY and TCAI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IPAY 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, IPAY or TCAI?

TCAI is cheaper with a 0.65% expense ratio, compared with 0.75% for IPAY.

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

IPAY has the higher dividend yield at 0.81%, compared with 0.03% for TCAI.

What is the main difference between IPAY and TCAI?

IPAY is categorized as Technology Equities, while TCAI is Artificial Intelligence. They also come from different issuers: ETFMG and Tortoise. Their fees differ too: 0.75% for IPAY and 0.65% for TCAI.