IQE.L vs. TCAI

Last updated Jun 5, 2026

IQE.L (IQE plc) is a stock, while TCAI (Tortoise AI Infrastructure ETF) is Technology Equities fund actively managed by Tortoise. At a 0.22 correlation, their price movements are largely independent.

Performance

IQE.L vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in IQE plc (IQE.L) and Tortoise AI Infrastructure ETF (TCAI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IQE.L is traded in GBp, while TCAI is traded in USD. To make them comparable, the TCAI values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IQE.L achieves a 887.00% return, which is significantly higher than TCAI's 73.03% return.

IQE.L

• 1D: -4.55%
• 1M: -1.30%
• YTD: 887.00%
• 6M: 871.46%
• 1Y: 388.61%
• 3Y*: 31.61%
• 5Y*: -1.97%
• 10Y*: 10.16%

TCAI

• 1D: -6.81%
• 1M: 4.17%
• YTD: 73.03%
• 6M: 62.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQE.L vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
IQE.L IQE plc	887.00%	-47.37%
TCAI Tortoise AI Infrastructure ETF	73.03%	16.25%

Correlation

The correlation between IQE.L and TCAI is 0.22, 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	0.22

Return for Risk

IQE.L vs. TCAI — Risk / Return Rank

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

IQE.L

IQE.L Risk / Return Rank: 93
IQE.L Sharpe Ratio Rank: 94
IQE.L Sortino Ratio Rank: 93
IQE.L Omega Ratio Rank: 92
IQE.L Calmar Ratio Rank: 95
IQE.L Martin Ratio Rank: 90

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.

IQE.L vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQE plc (IQE.L) 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.

	IQE.L	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	3.00	—	—
Sortino ratio: Return per unit of downside risk	3.63	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	6.86	—	—
Martin ratio: Return relative to average drawdown	12.36	—	—
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

	IQE.L	TCAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	3.72	-3.83

Drawdowns

IQE.L vs. TCAI - Drawdown Comparison

The maximum IQE.L drawdown since its inception was -99.71%, which is greater than TCAI's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for IQE.L and TCAI.

Drawdown Indicators

	IQE.L	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-99.71%	-17.13%	-82.58%
Max Drawdown (1Y) Largest decline over 1 year	-56.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-86.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-91.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-97.27%	—	—
Current Drawdown Current decline from peak	-93.56%	-9.12%	-84.44%
Average Drawdown Average peak-to-trough decline	-93.32%	-3.65%	-89.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.26%	—	—

Volatility

Volatility by Period

	IQE.L	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	51.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	114.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	128.68%	35.35%	+93.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.18%	35.35%	+44.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.23%	35.35%	+39.88%

Dividends

IQE.L vs. TCAI - Dividend Comparison

IQE.L has not paid dividends to shareholders, while TCAI's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025
IQE.L IQE plc	0.00%	0.00%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%

Frequently Asked Questions

Can I hold both IQE.L and TCAI in my portfolio?

IQE.L and TCAI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.