Do BAI and TCAI hold the same stocks?

By their latest filings, 18% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, BAI or TCAI?

BAI has 51% of its weight in S&P 500 names and TCAI has 60%, so TCAI differs more from the index.

Which is cheaper, BAI or TCAI?

BAI charges 0.55% a year and TCAI charges 0.65%, so BAI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

BAI vs TCAI: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, BAI returned +5.2% to TCAI's +7.5%; 18% of their weight is in the same names.

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Net assets: $11.9bn on Nov 3, 2026 for iShares A.I. Innovation and Tech Active ETF, and $230m on Aug 31, 2026 for Tortoise AI Infrastructure ETF.

BAI on its own →TCAI on its own →

At a glance

51.3%

BAI in the S&P 500

60.4%

TCAI in the S&P 500

+5.2%

BAI total return, 1 year

+7.5%

TCAI total return, 1 year

BAI · 1 year to Nov 4, 2026 49% of its weight is outside the S&P 500

51% of BAI's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 2026.

TCAI · 1 year to Nov 4, 2026 40% of its weight is outside the S&P 500

60% of TCAI's weight is in S&P 500 companies and 40% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

BAI costs 0.10 points a year less; their one-year returns differ by 2.3 points.

Points (pts) are percentage points.

BAI vs TCAI: Holdings Overlap & Returns
Measure	BAI	TCAI
Return
Measure	BAI	TCAI
Total return, 1 year	+5.2%	+7.5%
Drawdown
Measure	BAI	TCAI
Below its all-time high	31.3%, high on Jun 22, 2026	39.3%, high on Jun 22, 2026
Against its benchmark
Measure	BAI	TCAI
What it tracks	Artificial intelligence	AI infrastructure and chips
Its benchmark, total return, 1 year	+32.9%
Against its benchmark, 1 year	behind by 27.7 pts
Cost and size
Measure	BAI	TCAI
Expense ratio	0.55%	0.65%
Net assets, BAI as of Nov 3, 2026 and TCAI as of Aug 31, 2026	$11.9bn	$230m
Holdings
Measure	BAI	TCAI
Holdings in common	18%

ETFIQ S&P 500 Difference Score · TCAI scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score25.9BAI65.4TCAI

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

BAI 25.9

TCAI 65.4

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

Risk and return

Aug 15, 2025 to Oct 30, 2026 · 63 weekly returns

BAI TCAI

Return

Total return edge TCAI +25.2% +54.1%

Annualized edge TCAI +20.4% +42.9%

Price return edge TCAI +23.0% +54.0%

Risk

Volatility edge BAI (slight) 34.9% 36.7%

Max drawdown edge BAI −26.2% −33.9%

Risk-adjusted

Sharpe edge TCAI 0.60 1.06

Sortino edge TCAI 0.85 1.51

Calmar edge TCAI 0.78 1.27

Reading

From Aug 2025 to Oct 2026, TCAI returned more: +54.1% to +25.2%. BAI swung slightly less: 34.9% to 36.7%. BAI fell less at its worst: −26.2% to −33.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: BAI vs TCAI: Holdings Overlap & Returns
Measure	BAI	TCAI	Edge	How it is measured
Return
Total return	+25.2%	+54.1%	TCAI	Price change plus distributions, reinvested.
Annualized	+20.4%	+42.9%	TCAI	Total return as a yearly rate.
Price return	+23.0%	+54.0%	TCAI	Price change alone, distributions left out.
Risk
Volatility	34.9%	36.7%	BAI (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	24.5%	25.7%	BAI (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−26.2%	−33.9%	BAI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.60	1.06	TCAI	Return above Treasury bills per unit of volatility.
Sortino	0.85	1.51	TCAI	Return above Treasury bills per unit of downside deviation.
Calmar	0.78	1.27	TCAI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 63 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

18%

By the books each fund has filed, BAI and TCAI hold 18% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

18% in common

Positions both hold · largest shared weight first BAI TCAI

MICRON TECHNOLOGY 6.01% 5.29%

WESTERN DIGITAL CORP 2.31% 3.18%

ARISTA NETWORKS 2.30% 2.49%

LUMENTUM HOLDINGS 2.22% 1.88%

SANDISK 1.61% 4.25%

SK HYNIX 1.56% 2.15%

CREDO TECHNOLOGY GROUP HOLDING LTD 1.48% 2.12%

NVIDIA 5.92% 0.74%

CELESTICA 0.97% 0.40%

Only in one fund ↓

Only in BAI

ADVANCED MICRO DEVICES 5.32%

TAIWAN SEMICONDUCTOR MANUFACTURING 5.15%

BROADCOM INC 4.64%

SPACE EXPLORATION TECHNOLOGIES COR 3.92%

LAM RESEARCH 3.45%

SNOWFLAKE 3.12%

MICROSOFT 2.81%

AMAZON.COM INC 2.60%

Only in TCAI

Dell Technologies Inc 6.37%

Vertiv Holdings Co 5.59%

Ciena Corp 4.01%

Seagate Technology Holdings PL 3.83%

Quanta Services Inc 3.64%

nVent Electric PLC 3.42%

Constellation Energy Corp 3.07%

GE Vernova Inc 3.05%

Check overlap with more funds →

Window by window

Window by window: BAI vs TCAI: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	BAI	TCAI	BAI	TCAI
3 months	−15.8%	−25.9%	−6.6 pts vs ARTY	not measured
6 months	−19.2%	−28.8%	−16.0 pts vs ARTY	not measured
1 year	+5.2%	+7.5%	−27.7 pts vs ARTY	not measured
Since launchNot the same days: BAI Oct 2024 · TCAI Aug 2025	+51.4%	+40.4%	−34.2 pts vs ARTY	not measured

Open this comparison in the app →

Side by side

BAI iShares A.I. Innovation and Tech Active ETF · Holds 51 stocks in artificial intelligence, 51% of its weight in S&P 500 companies TCAI Tortoise AI Infrastructure ETF · Holds 46 stocks in aI infrastructure and chips, 60% of its weight in S&P 500 companies

Issuer iShares Tortoise

Theme Artificial intelligence AI infrastructure and chips

In the S&P 500 51.3% 60.4%

Active share vs the S&P 500 76.7% 93.3%

In the Nasdaq-100 47.0% 25.7%

Holdings 51 46

Top ten, share of the fund 42.9% 42.6%

Expense ratio 0.55% 0.65%

Fee for the differing part 0.72% 0.70%

Total return, 1 year +5.2% +7.5%

vs its benchmark −27.7 pts vs ARTY not measured

Below its high −31.3% −39.3%

Net assets, BAI as of Nov 3, 2026 and TCAI as of Aug 31, 2026 $11.9bn $230m

As of Nov 4, 2026. Source: ETFIQ.

18% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

BAI

By weight, 51% of BAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 77%. The top ten holdings are 43% of the fund across 51 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +5.2% with distributions reinvested against +32.9% for its benchmark, the Morningstar Global Artificial Intelligence Select Index, so a holder was behind by 27.7 pts. It sits 31.3% below its all-time high of Jun 22, 2026.

TCAI

By weight, 60% 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 43% of the fund across 46 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +7.5% with distributions reinvested. It sits 39.3% below its all-time high of Jun 22, 2026.

Questions people ask

Do BAI and TCAI hold the same stocks?: By their latest filings, 18% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, BAI or TCAI?: BAI has 51% of its weight in S&P 500 names and TCAI has 60%, so TCAI differs more from the index.
Which is cheaper, BAI or TCAI?: BAI charges 0.55% a year and TCAI charges 0.65%, so BAI is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAI vs AIPO BAI vs IVEP BAI vs CGPT BAI vs AINF TCAI vs KOID TCAI vs FAI TCAI vs XAIX TCAI vs AIEQ

Where to next

BAI on its own →TCAI on its own →BAI dividend history →BAI holdings →TCAI dividend history →TCAI holdings →Method →Standards and sources →

Sources and dates

BAI filings on SEC EDGAR ↗

BAI prospectus with the expense ratio (SEC) ↗

iShares page for BAI ↗

TCAI filings on SEC EDGAR ↗

TCAI prospectus with the expense ratio (SEC) ↗

Tortoise website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, BAI against TCAI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/bai-vs-tcai

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.