TMLP vs. TCAI

Last updated Jul 30, 2026

TMLP (Tortoise MLP ETF) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - TMLP is a MLPs fund tracking the Tortoise MLP Index, while TCAI is a Artificial Intelligence fund actively managed by Tortoise. TMLP is passively managed, while TCAI is actively managed. Their -0.12 correlation means they have often moved in opposite directions in the past. TMLP charges 0.50%/yr vs 0.65%/yr for TCAI.

Performance

TMLP vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise MLP ETF (TMLP) 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, TMLP achieves a 20.86% return, which is significantly lower than TCAI's 39.74% return.

TMLP

• 1D: 0.18%
• 1M: 6.05%
• 6M: 14.10%
• YTD: 20.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

TCAI

• 1D: -6.19%
• 1M: -24.21%
• 6M: 18.95%
• YTD: 39.74%
• 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	$6.86M	$5.61M	$7.04M
TMLP Tortoise MLP ETF	$23.01K	$29.46K	$99.82K

TMLP vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
TMLP Tortoise MLP ETF	20.86%	0.01%
TCAI Tortoise AI Infrastructure ETF	39.74%	-1.41%

Correlation

The correlation between TMLP and TCAI is -0.12, 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	-0.12

Return for Risk

TMLP vs. TCAI - Risk-Adjusted Trends Comparison

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

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

Drawdowns

TMLP vs. TCAI - Drawdown Comparison

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

Drawdown Indicators

	TMLP	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-8.55%	-28.82%	+20.27%
Current Drawdown Current decline from peak	-1.19%	-28.82%	+27.63%
Average Drawdown Average peak-to-trough decline	-2.18%	-4.58%	+2.40%

Volatility

Volatility by Period

	TMLP	TCAI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	40.28%	-26.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.28%	40.28%	-26.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.28%	40.28%	-26.00%

TMLP vs. TCAI - Expense Ratio Comparison

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

Dividends

TMLP vs. TCAI - Dividend Comparison

TMLP's dividend yield for the trailing twelve months is around 3.71%, more than TCAI's 0.04% yield.

Position	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.04%	0.05%
TMLP Tortoise MLP ETF	3.71%	0.04%

Frequently Asked Questions

Can I hold both TMLP and TCAI in my portfolio?

TMLP and TCAI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMLP or TCAI?

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, TMLP or TCAI?

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

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

TMLP has the higher dividend yield at 3.71%, compared with 0.04% for TCAI.

What is the main difference between TMLP and TCAI?

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