TCAI vs. AIPO

Last updated Apr 1, 2026

Compare and contrast key facts about Tortoise AI Infrastructure ETF (TCAI) and Defiance AI & Power Infrastructure ETF (AIPO).

TCAI and AIPO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCAI is an actively managed fund by Tortoise. It was launched on Aug 4, 2025. AIPO is a passively managed fund by Defiance that tracks the performance of the MarketVector™ US Listed AI and Power Infrastructure Index. It was launched on Jul 24, 2025.

Performance

TCAI vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise AI Infrastructure ETF (TCAI) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

TCAI vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	16.67%	17.77%
AIPO Defiance AI & Power Infrastructure ETF	12.84%	8.20%

Returns By Period

In the year-to-date period, TCAI achieves a 16.67% return, which is significantly higher than AIPO's 12.84% return.

TCAI

• 1D: 4.49%
• 1M: -6.61%
• YTD: 16.67%
• 6M: 16.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: 4.70%
• 1M: -4.73%
• YTD: 12.84%
• 6M: 10.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TCAI vs. AIPO - Expense Ratio Comparison

TCAI has a 0.65% expense ratio, which is lower than AIPO's 0.69% expense ratio.

AIPO

Defiance AI & Power Infrastructure ETF

TCAI

Tortoise AI Infrastructure ETF

Return for Risk

TCAI vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise AI Infrastructure ETF (TCAI) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TCAI	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	1.03	+0.77

Correlation

The correlation between TCAI and AIPO is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TCAI vs. AIPO - Dividend Comparison

TCAI's dividend yield for the trailing twelve months is around 0.04%, more than AIPO's 0.01% yield.

	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.04%	0.05%
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%

Drawdowns

TCAI vs. AIPO - Drawdown Comparison

The maximum TCAI drawdown since its inception was -15.80%, smaller than the maximum AIPO drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for TCAI and AIPO.

Drawdown Indicators

	TCAI	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-15.80%	-17.31%	+1.51%
Current Drawdown Current decline from peak	-8.07%	-7.04%	-1.03%
Average Drawdown Average peak-to-trough decline	-3.97%	-5.03%	+1.06%

Volatility

Volatility by Period

	TCAI	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	35.03%	34.05%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.03%	34.05%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.03%	34.05%	+0.98%