TCAI vs. TMLP

Last updated Aug 2, 2026

TCAI (Tortoise AI Infrastructure ETF) and TMLP (Tortoise MLP ETF) are both exchange-traded funds - TCAI is a Artificial Intelligence fund actively managed by Tortoise, while TMLP is a MLPs fund tracking the Tortoise MLP Index. TCAI is actively managed, while TMLP is passively managed. Their -0.11 correlation means they have often moved in opposite directions in the past. TCAI charges 0.65%/yr vs 0.50%/yr for TMLP.

Performance

TCAI vs. TMLP - Performance Comparison

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

Returns By Period

In the year-to-date period, TCAI achieves a 55.27% return, which is significantly higher than TMLP's 22.73% return.

TCAI

• 1D: -0.41%
• 1M: -7.41%
• 6M: 37.28%
• YTD: 55.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

TMLP

• 1D: 1.11%
• 1M: 7.18%
• 6M: 15.57%
• YTD: 22.73%
• 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)
TCAI Tortoise AI Infrastructure ETF	$4.79M	$5.54M	$6.96M
TMLP Tortoise MLP ETF	$25.91K	$29.91K	$98.86K

TCAI vs. TMLP - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	55.27%	-1.41%
TMLP Tortoise MLP ETF	22.73%	0.01%

Correlation

The correlation between TCAI and TMLP is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	-0.11

Return for Risk

TCAI vs. TMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise AI Infrastructure ETF (TCAI) and Tortoise MLP ETF (TMLP). 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.

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

Drawdowns

TCAI vs. TMLP - Drawdown Comparison

The maximum TCAI drawdown since its inception was -28.82%, which is greater than TMLP's maximum drawdown of -8.55%. Use the drawdown chart below to compare losses from any high point for TCAI and TMLP.

Drawdown Indicators

	TCAI	TMLP	Difference
Max Drawdown Largest peak-to-trough decline	-28.82%	-8.55%	-20.27%
Current Drawdown Current decline from peak	-20.91%	0.00%	-20.91%
Average Drawdown Average peak-to-trough decline	-4.71%	-2.15%	-2.56%

Volatility

Volatility by Period

	TCAI	TMLP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	41.71%	14.25%	+27.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.71%	14.25%	+27.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.71%	14.25%	+27.46%

TCAI vs. TMLP - Expense Ratio Comparison

TCAI has a 0.65% expense ratio, which is higher than TMLP's 0.50% expense ratio.

Dividends

TCAI vs. TMLP - Dividend Comparison

TCAI's dividend yield for the trailing twelve months is around 0.03%, less than TMLP's 3.65% yield.

Position	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%
TMLP Tortoise MLP ETF	3.65%	0.04%

Frequently Asked Questions

Can I hold both TCAI and TMLP in my portfolio?

TCAI and TMLP have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TCAI or TMLP?

On fees, TMLP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TCAI or TMLP?

TMLP is cheaper with a 0.50% expense ratio, compared with 0.65% for TCAI.

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

TMLP has the higher dividend yield at 3.65%, compared with 0.03% for TCAI.

What is the main difference between TCAI and TMLP?

TCAI is categorized as Artificial Intelligence, while TMLP is MLPs. Their fees differ too: 0.65% for TCAI and 0.50% for TMLP.