IRBO vs. TCAI

Last updated Aug 4, 2026

IRBO (iShares Future AI & Tech ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Artificial Intelligence funds. IRBO is passively managed, while TCAI is actively managed. Their correlation of 0.87 means they have usually moved in the same direction. IRBO charges 0.47%/yr vs 0.65%/yr for TCAI.

Performance

IRBO vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Future AI & Tech ETF (IRBO) 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, IRBO achieves a 43.11% return, which is significantly lower than TCAI's 60.69% return.

IRBO

• 1D: 3.39%
• 1M: -3.07%
• 6M: 32.62%
• YTD: 43.11%
• 1Y: 63.16%
• 3Y*: 28.37%
• 5Y*: 10.52%
• 10Y*: —
• ALL TIME*: 15.10%

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)
IRBO iShares Future AI & Tech ETF	$35.64M	$36.90M	$59.33M
TCAI Tortoise AI Infrastructure ETF	$4.59M	$5.30M	$6.77M

IRBO vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
IRBO iShares Future AI & Tech ETF	43.11%	11.71%
TCAI Tortoise AI Infrastructure ETF	60.69%	17.27%

Correlation

The correlation between IRBO and TCAI is 0.87, 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	0.87

IRBO vs. TCAI - Sectors Allocation Comparison

Sectors	IRBO	TCAI
Technology	83.8%	44.4%
Communication Services	5.5%	2.2%
Industrials	4.7%	30.5%
Utilities	3.2%	9.8%
Consumer Cyclical	2.9%	2.1%
Real Estate	1.2%	0.6%
Consumer Defensive	0.0%	-
Healthcare	0.0%	-
Basic Materials	-	-
Energy	-	3.9%
Financial Services	-	7.2%

Return for Risk

IRBO vs. TCAI — Risk / Return Rank

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

IRBO

IRBO Risk / Return Rank: 69
IRBO Sharpe Ratio Rank: 73
IRBO Sortino Ratio Rank: 64
IRBO Omega Ratio Rank: 65
IRBO Calmar Ratio Rank: 74
IRBO Martin Ratio Rank: 68

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.

IRBO vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Future AI & Tech ETF (IRBO) 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.

	IRBO	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.18	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.64	—	—
Martin ratio: Return relative to average drawdown	8.49	—	—

Drawdowns

IRBO vs. TCAI - Drawdown Comparison

The maximum IRBO drawdown since its inception was -54.50%, which is greater than TCAI's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for IRBO and TCAI.

Drawdown Indicators

	IRBO	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-54.50%	-28.82%	-25.68%
Max Drawdown (1Y) Largest decline over 1 year	-24.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-32.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-50.53%	—	—
Current Drawdown Current decline from peak	-14.61%	-18.15%	+3.54%
Average Drawdown Average peak-to-trough decline	-19.68%	-4.77%	-14.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	—	—

Volatility

Volatility by Period

	IRBO	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.42%	41.75%	-4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.34%	41.75%	-11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.65%	41.75%	-13.10%

IRBO vs. TCAI - Expense Ratio Comparison

IRBO has a 0.47% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

IRBO vs. TCAI - Dividend Comparison

IRBO's dividend yield for the trailing twelve months is around 0.06%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IRBO iShares Future AI & Tech ETF	0.06%	0.00%	0.50%	0.88%	0.75%	2.41%	0.53%	0.69%	0.34%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRBO and TCAI in my portfolio?

IRBO and TCAI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IRBO or TCAI?

On fees, IRBO is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IRBO or TCAI?

IRBO is cheaper with a 0.47% expense ratio, compared with 0.65% for TCAI.

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

IRBO has the higher dividend yield at 0.06%, compared with 0.03% for TCAI.

What is the main difference between IRBO and TCAI?

They also come from different issuers: iShares and Tortoise. Their fees differ too: 0.47% for IRBO and 0.65% for TCAI.