TCAI vs. USO

Last updated Jun 4, 2026

TCAI (Tortoise AI Infrastructure ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - TCAI is a Technology Equities fund actively managed by Tortoise, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. TCAI is actively managed, while USO is passively managed. At a correlation of -0.17, they often move in opposite directions. TCAI charges 0.65%/yr vs 0.86%/yr for USO.

Performance

TCAI vs. USO - Performance Comparison

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

Returns By Period

In the year-to-date period, TCAI achieves a 89.63% return, which is significantly lower than USO's 103.67% return.

TCAI

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

USO

• 1D: 2.62%
• 1M: -4.57%
• YTD: 103.67%
• 6M: 99.35%
• 1Y: 101.55%
• 3Y*: 29.98%
• 5Y*: 24.41%
• 10Y*: 4.07%

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

TCAI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	89.63%	17.77%
USO United States Oil Fund LP	103.67%	-7.81%

Correlation

The correlation between TCAI and USO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025	-0.17

Return for Risk

TCAI vs. USO — Risk / Return Rank

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

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 69
USO Sortino Ratio Rank: 60
USO Omega Ratio Rank: 61
USO Calmar Ratio Rank: 87
USO Martin Ratio Rank: 54

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.

TCAI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise AI Infrastructure ETF (TCAI) and United States Oil Fund LP (USO). 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	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.31	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.61	-0.18	+4.79

Drawdowns

TCAI vs. USO - Drawdown Comparison

The maximum TCAI drawdown since its inception was -15.80%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for TCAI and USO.

Drawdown Indicators

	TCAI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-15.80%	-98.19%	+82.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.75%	—
Current Drawdown Current decline from peak	-0.27%	-85.01%	+84.74%
Average Drawdown Average peak-to-trough decline	-3.43%	-75.30%	+71.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.82%	—

Volatility

Volatility by Period

	TCAI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.82%	44.20%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.82%	36.06%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	39.00%	-3.18%

TCAI vs. USO - Expense Ratio Comparison

TCAI has a 0.65% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

TCAI vs. USO - Dividend Comparison

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

Position	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCAI and USO in my portfolio?

TCAI and USO have a correlation of -0.17, 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 USO?

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, TCAI or USO?

TCAI is cheaper with a 0.65% expense ratio, compared with 0.86% for USO.

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

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

What is the main difference between TCAI and USO?

TCAI is categorized as Technology Equities, while USO is Oil & Gas. They also come from different issuers: Tortoise and USCF. Their fees differ too: 0.65% for TCAI and 0.86% for USO.