WISE vs. TCAI

Last updated Jun 4, 2026

WISE (Themes Generative Artificial Intelligence ETF) and TCAI (Tortoise AI Infrastructure ETF) are both Technology Equities funds. WISE is passively managed, while TCAI is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. WISE charges 0.35%/yr vs 0.65%/yr for TCAI.

Performance

WISE vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) 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, WISE achieves a 11.03% return, which is significantly lower than TCAI's 89.63% return.

WISE

• 1D: -3.13%
• 1M: 11.81%
• YTD: 11.03%
• 6M: 7.21%
• 1Y: 36.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAI

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

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

WISE vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
WISE Themes Generative Artificial Intelligence ETF	11.03%	6.13%
TCAI Tortoise AI Infrastructure ETF	89.63%	17.77%

Correlation

The correlation between WISE and TCAI is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025	0.65

WISE vs. TCAI - Sectors Allocation Comparison

Sectors	WISE	TCAI
Technology	90.4%	44.0%
Consumer Cyclical	4.0%	1.4%
Communication Services	3.2%	1.1%
Industrials	1.5%	29.9%
Healthcare	0.7%	-
Utilities	0.3%	11.1%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	6.1%
Financial Services	-	6.4%
Real Estate	-	0.6%

Return for Risk

WISE vs. TCAI — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 27
WISE Sharpe Ratio Rank: 31
WISE Sortino Ratio Rank: 30
WISE Omega Ratio Rank: 29
WISE Calmar Ratio Rank: 23
WISE Martin Ratio Rank: 21

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.

WISE vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) 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.

	WISE	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	1.14	—	—
Sortino ratio: Return per unit of downside risk	1.64	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.07	—	—
Martin ratio: Return relative to average drawdown	2.58	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	WISE	TCAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	4.61	-3.83

Drawdowns

WISE vs. TCAI - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, which is greater than TCAI's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for WISE and TCAI.

Drawdown Indicators

	WISE	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-15.80%	-23.35%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	—	—
Current Drawdown Current decline from peak	-5.48%	-0.27%	-5.21%
Average Drawdown Average peak-to-trough decline	-11.90%	-3.43%	-8.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.15%	—	—

Volatility

Volatility by Period

	WISE	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	32.26%	35.82%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.55%	35.82%	-2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.55%	35.82%	-2.27%

WISE vs. TCAI - Expense Ratio Comparison

WISE has a 0.35% expense ratio, which is lower than TCAI's 0.65% expense ratio.

Dividends

WISE vs. TCAI - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 3.71%, more than TCAI's 0.03% yield.

Position	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%
WISE Themes Generative Artificial Intelligence ETF	3.71%	4.12%

Frequently Asked Questions

Can I hold both WISE and TCAI in my portfolio?

WISE and TCAI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WISE or TCAI?

On fees, WISE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WISE or TCAI?

WISE is cheaper with a 0.35% expense ratio, compared with 0.65% for TCAI.

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

WISE has the higher dividend yield at 3.71%, compared with 0.03% for TCAI.

What is the main difference between WISE and TCAI?

They also come from different issuers: Themes and Tortoise. Their fees differ too: 0.35% for WISE and 0.65% for TCAI.