VPN vs. TCAI

Last updated Aug 4, 2026

VPN (Global X Data Center REITs & Digital Infrastructure ETF) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - VPN is a REIT fund tracking the Solactive Data Center REITs & Digital Infrastructure Index, while TCAI is a Artificial Intelligence fund actively managed by Tortoise. VPN is passively managed, while TCAI is actively managed. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VPN charges 0.50%/yr vs 0.65%/yr for TCAI.

Performance

VPN vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Data Center REITs & Digital Infrastructure ETF (VPN) 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, VPN achieves a 32.24% return, which is significantly lower than TCAI's 60.69% return.

VPN

• 1D: 1.31%
• 1M: -2.32%
• 6M: 13.84%
• YTD: 32.24%
• 1Y: 49.85%
• 3Y*: 29.05%
• 5Y*: 11.28%
• 10Y*: —
• ALL TIME*: 13.44%

TCAI

• 1D: 3.49%
• 1M: -4.18%
• 6M: 39.26%
• YTD: 60.69%
• 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	$4.59M	$5.30M	$6.77M
VPN Global X Data Center REITs & Digital Infrastructure ETF	$22.31M	$27.23M	$44.18M

VPN vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
VPN Global X Data Center REITs & Digital Infrastructure ETF	32.24%	11.47%
TCAI Tortoise AI Infrastructure ETF	60.69%	17.27%

Correlation

The correlation between VPN and TCAI is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.78

VPN vs. TCAI - Sectors Allocation Comparison

Sectors	VPN	TCAI
Real Estate	58.0%	0.6%
Technology	30.6%	44.4%
Communication Services	10.5%	2.2%
Financial Services	0.9%	7.2%
Basic Materials	-	-
Consumer Cyclical	-	2.1%
Consumer Defensive	-	-
Energy	-	3.9%
Healthcare	-	-
Industrials	-	30.5%
Utilities	-	9.8%

Return for Risk

VPN vs. TCAI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VPN

VPN Risk / Return Rank: 77
VPN Sharpe Ratio Rank: 84
VPN Sortino Ratio Rank: 79
VPN Omega Ratio Rank: 77
VPN Calmar Ratio Rank: 77
VPN Martin Ratio Rank: 70

TCAI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VPN vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Data Center REITs & Digital Infrastructure ETF (VPN) 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.

	VPN	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	2.03	—	—
Sortino ratio: Return per unit of downside risk	2.63	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.80	—	—
Martin ratio: Return relative to average drawdown	8.79	—	—

Drawdowns

VPN vs. TCAI - Drawdown Comparison

The maximum VPN drawdown since its inception was -38.98%, which is greater than TCAI's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for VPN and TCAI.

Drawdown Indicators

	VPN	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-38.98%	-28.82%	-10.16%
Max Drawdown (1Y) Largest decline over 1 year	-17.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.98%	—	—
Current Drawdown Current decline from peak	-14.04%	-18.15%	+4.11%
Average Drawdown Average peak-to-trough decline	-12.26%	-4.77%	-7.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	—	—

Volatility

Volatility by Period

	VPN	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.76%	41.75%	-16.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.51%	41.75%	-19.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	41.75%	-19.50%

VPN vs. TCAI - Expense Ratio Comparison

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

Dividends

VPN vs. TCAI - Dividend Comparison

VPN's dividend yield for the trailing twelve months is around 0.89%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%
VPN Global X Data Center REITs & Digital Infrastructure ETF	0.89%	1.10%	1.72%	1.18%	2.57%	1.27%	0.30%

Frequently Asked Questions

Can I hold both VPN and TCAI in my portfolio?

VPN and TCAI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VPN or TCAI?

On fees, VPN 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, VPN or TCAI?

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

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

VPN has the higher dividend yield at 0.89%, compared with 0.03% for TCAI.

What is the main difference between VPN and TCAI?

VPN is categorized as REIT, while TCAI is Artificial Intelligence. They also come from different issuers: Global X and Tortoise. Their fees differ too: 0.50% for VPN and 0.65% for TCAI.