SPRX vs. TCAI

Last updated Jun 25, 2026

SPRX (Spear Alpha ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Technology Equities funds. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. SPRX charges 0.75%/yr vs 0.65%/yr for TCAI.

Performance

SPRX vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) 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, SPRX achieves a 39.86% return, which is significantly lower than TCAI's 84.47% return.

SPRX

• 1D: -1.83%
• 1M: 1.78%
• YTD: 39.86%
• 6M: 34.88%
• 1Y: 88.73%
• 3Y*: 44.06%
• 5Y*: —
• 10Y*: —

TCAI

• 1D: -1.26%
• 1M: 9.15%
• YTD: 84.47%
• 6M: 80.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPRX vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
SPRX Spear Alpha ETF	39.86%	15.30%
TCAI Tortoise AI Infrastructure ETF	84.47%	17.27%

Correlation

The correlation between SPRX and TCAI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

SPRX vs. TCAI - Sectors Allocation Comparison

Sectors	SPRX	TCAI
Technology	68.0%	51.4%
Industrials	16.2%	25.4%
Basic Materials	9.2%	-
Financial Services	8.0%	7.1%
Communication Services	3.9%	1.6%
Healthcare	2.0%	-
Utilities	1.4%	8.6%
Consumer Cyclical	-	1.3%
Consumer Defensive	-	-
Energy	-	4.7%
Real Estate	-	0.6%

Return for Risk

SPRX vs. TCAI — Risk / Return Rank

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

SPRX

SPRX Risk / Return Rank: 64
SPRX Sharpe Ratio Rank: 65
SPRX Sortino Ratio Rank: 53
SPRX Omega Ratio Rank: 54
SPRX Calmar Ratio Rank: 79
SPRX 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) 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.

SPRX vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) 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.

	SPRX	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	1.91	—	—
Sortino ratio: Return per unit of downside risk	2.34	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	3.68	—	—
Martin ratio: Return relative to average drawdown	11.35	—	—

Drawdowns

SPRX vs. TCAI - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, which is greater than TCAI's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for SPRX and TCAI.

Drawdown Indicators

	SPRX	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-15.80%	-35.41%
Max Drawdown (1Y) Largest decline over 1 year	-24.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	—	—
Current Drawdown Current decline from peak	-8.38%	-6.04%	-2.34%
Average Drawdown Average peak-to-trough decline	-17.51%	-3.55%	-13.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.84%	—	—

Volatility

Volatility by Period

	SPRX	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	46.88%	37.53%	+9.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.30%	37.53%	+4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.30%	37.53%	+4.77%

SPRX vs. TCAI - Expense Ratio Comparison

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

Dividends

SPRX vs. TCAI - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPRX and TCAI in my portfolio?

SPRX 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, SPRX 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, SPRX or TCAI?

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

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

TCAI has the higher dividend yield at 0.03%, compared with 0.00% for SPRX.

What is the main difference between SPRX and TCAI?

They also come from different issuers: Spear and Tortoise. Their fees differ too: 0.75% for SPRX and 0.65% for TCAI.