TBLU vs. TCAI

Last updated Jun 4, 2026

TBLU (Tortoise Global Water Fund) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while TCAI is a Technology Equities fund actively managed by Tortoise. TBLU is passively managed, while TCAI is actively managed. At a 0.36 correlation, their price movements are largely independent. TBLU charges 0.40%/yr vs 0.65%/yr for TCAI.

Performance

TBLU vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise Global Water Fund (TBLU) 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, TBLU achieves a -1.99% return, which is significantly lower than TCAI's 89.63% return.

TBLU

• 1D: 0.17%
• 1M: -3.28%
• YTD: -1.99%
• 6M: -4.11%
• 1Y: -1.51%
• 3Y*: 9.71%
• 5Y*: 3.78%
• 10Y*: —

TCAI

• 1D: -0.27%
• 1M: 19.58%
• YTD: 89.63%
• 6M: 85.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TBLU vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
TBLU Tortoise Global Water Fund	-1.99%	-3.39%
TCAI Tortoise AI Infrastructure ETF	89.63%	17.77%

Correlation

The correlation between TBLU and TCAI is 0.36, 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	0.36

TBLU vs. TCAI - Sectors Allocation Comparison

Sectors	TBLU	TCAI
Industrials	65.8%	29.9%
Utilities	24.7%	11.1%
Basic Materials	7.1%	-
Consumer Defensive	0.8%	-
Consumer Cyclical	0.7%	1.4%
Technology	0.5%	44.0%
Energy	0.5%	6.1%
Communication Services	-	1.1%
Financial Services	-	6.4%
Healthcare	-	-
Real Estate	-	0.6%

Return for Risk

TBLU vs. TCAI — Risk / Return Rank

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

TBLU

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

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.

TBLU vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) 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.

	TBLU	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	—	—
Sortino ratio: Return per unit of downside risk	-0.05	—	—
Omega ratio: Gain probability vs. loss probability	0.99	—	—
Calmar ratio: Return relative to maximum drawdown	-0.12	—	—
Martin ratio: Return relative to average drawdown	-0.28	—	—
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

	TBLU	TCAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	4.61	-4.11

Drawdowns

TBLU vs. TCAI - Drawdown Comparison

The maximum TBLU drawdown since its inception was -37.58%, which is greater than TCAI's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for TBLU and TCAI.

Drawdown Indicators

	TBLU	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-15.80%	-21.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	—	—
Current Drawdown Current decline from peak	-11.65%	-0.27%	-11.38%
Average Drawdown Average peak-to-trough decline	-8.15%	-3.43%	-4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	—	—

Volatility

Volatility by Period

	TBLU	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	35.82%	-21.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	35.82%	-18.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	35.82%	-16.86%

TBLU vs. TCAI - Expense Ratio Comparison

TBLU has a 0.40% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

TBLU vs. TCAI - Dividend Comparison

TBLU's dividend yield for the trailing twelve months is around 3.37%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBLU Tortoise Global Water Fund	3.37%	3.31%	1.34%	1.46%	1.64%	1.55%	1.42%	1.58%	1.35%	1.32%
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%

Frequently Asked Questions

Can I hold both TBLU and TCAI in my portfolio?

TBLU and TCAI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TBLU or TCAI?

On fees, TBLU is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TBLU or TCAI?

TBLU is cheaper with a 0.40% expense ratio, compared with 0.65% for TCAI.

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

TBLU has the higher dividend yield at 3.37%, compared with 0.03% for TCAI.

What is the main difference between TBLU and TCAI?

TBLU is categorized as Water Equities, while TCAI is Technology Equities. Their fees differ too: 0.40% for TBLU and 0.65% for TCAI.