Data as of .
AIPO vs TCAI: which is really different?
AIPO and TCAI hold 21% of their weight in the same names, and TCAI returned more over the year.
ETFIQ Off-Index Score: TCAI scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
21% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, AIPO and TCAI hold 21% of their money in the same securities at the same weight.
| Holding | AIPO | TCAI |
|---|---|---|
| Vertiv Holdings Co | 6.56% | 4.48% |
| Quanta Services Inc | 8.25% | 3.58% |
| Constellation Energy Corp | 3.02% | 2.70% |
| Nvent Electric Plc | 1.98% | 3.18% |
| Vistra Corp | 1.62% | 1.13% |
| Ge Vernova Inc | 8.03% | 1.12% |
| Mastec Inc | 1.10% | 2.40% |
| Dycom Industries Inc | 0.60% | 2.23% |
| Nvidia Corp | 4.04% | 0.59% |
| Evergy Inc | 0.59% | 1.27% |
| Nebius Group Nv | 0.46% | 1.55% |
| Talen Energy Corp | 0.42% | 0.58% |
| Only in AIPO | Only in TCAI |
|---|---|
| Eaton Corp Plc 8.31% | Dell Technologies Inc 8.94% |
| Bloom Energy Corp 5.10% | Micron Technology Inc 7.64% |
| Alphabet Inc 4.30% | Seagate Technology Holdings PL 5.77% |
| Broadcom Inc 3.97% | Western Digital Corp 5.14% |
| Cameco Corp 3.54% | Ciena Corp 5.10% |
| Advanced Micro Devices Inc 2.53% | Sandisk Corp/DE 3.47% |
| Hubbell Inc 1.83% | Credo Technology Group Holding 3.03% |
| Dominion Energy Inc 1.61% | Schneider Electric SE 1.94% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| AIPO | TCAI | AIPO | TCAI | AIPO | TCAI | |
| 3 months | −16.1% | −16.4% | −18.4 pts | −18.6 pts | −13.7 pts | −13.9 pts |
| 6 months | +15.1% | +34.7% | −2.9 pts | +16.7 pts | −9.1 pts | +10.5 pts |
| 1 year | +29.3% | +67.6% | +12.7 pts | +51.0 pts | +7.5 pts | +45.8 pts |
| Since launch | +40.1% | +88.8% | +18.9 pts | +65.8 pts | +12.1 pts | +59.4 pts |
| AIPO Defiance AI & Power Infrastructure ETF Holds 89 stocks in aI infrastructure and chips, 62% of its weight in S&P 500 companies | TCAI Tortoise AI Infrastructure ETF Holds 43 stocks in aI infrastructure and chips, 63% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Defiance | Tortoise |
| Theme | AI infrastructure and chips | AI infrastructure and chips |
| In the S&P 500 | 61.8% | 63.2% |
| Active share vs the S&P 500 | 86.1% | 92.7% |
| In the Nasdaq-100 | 20.6% | 26.2% |
| Holdings | 89 | 43 |
| Top ten, share of the fund | 55.1% | 50.6% |
| Expense ratio | 0.69% | 0.65% |
| Fee for the differing part | 0.80% | 0.70% |
| Total return, 1 year | +29.3% | +67.6% |
| vs the S&P 500 | +12.7 pts | +51.0 pts |
| vs the Nasdaq-100 | +7.5 pts | +45.8 pts |
| Below its high | −18.0% | −18.4% |
| Net assets | $915m | $217m |
AIPO in plain words
By weight, 62% of AIPO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 55% of the fund across 89 positions, as published by its issuer for Sep 21, 2026. Over the year to Sep 18, 2026 the fund returned +29.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 12.7 pts. It sits 18.0% below its all-time high of Jun 22, 2026.
TCAI in plain words
By weight, 63% of TCAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 93%. The top ten holdings are 51% of the fund across 43 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned +67.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 51.0 pts. It sits 18.4% below its all-time high of Jun 22, 2026.
Questions people ask
- Do AIPO and TCAI hold the same stocks?
- By their latest filings, 21% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, AIPO or TCAI?
- AIPO has 62% of its weight in S&P 500 names and TCAI has 63%, so TCAI differs more from the index.
- Which is cheaper, AIPO or TCAI?
- AIPO charges 0.69% a year and TCAI charges 0.65%, so TCAI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AIPO against TCAI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/aipo-vs-tcai Free to use with attribution; the underlying files are at Open data.