Do FAI and TCAI hold the same stocks?

By their latest filings, 9% 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, FAI or TCAI?

FAI has 76% of its weight in S&P 500 names and TCAI has 60%, so TCAI differs more from the index.

Which is cheaper, FAI or TCAI?

FAI and TCAI both charge 0.65% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

FAI vs TCAI: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FAI returned +19.9% to TCAI's +7.5%; 9% of their weight is in the same names.

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Net assets: $245m on Nov 3, 2026 for First Trust Bloomberg Artificial Intelligence ETF, and $230m on Aug 31, 2026 for Tortoise AI Infrastructure ETF.

FAI on its own →TCAI on its own →

At a glance

76.5%

FAI in the S&P 500

60.4%

TCAI in the S&P 500

+19.9%

FAI total return, 1 year

+7.5%

TCAI total return, 1 year

FAI · 1 year to Nov 4, 2026 24% of its weight is outside the S&P 500

77% of FAI's weight is in S&P 500 companies and 24% 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

Both cost 0.65% a year; their one-year returns differ by 12.4 points.

Points (pts) are percentage points.

FAI vs TCAI: Holdings Overlap & Returns
Measure	FAI	TCAI
Return
Measure	FAI	TCAI
Total return, 1 year	+19.9%	+7.5%
Drawdown
Measure	FAI	TCAI
Below its all-time high	14.0%, high on Oct 6, 2026	39.3%, high on Jun 22, 2026
Against its benchmark
Measure	FAI	TCAI
What it tracks	Artificial intelligence	AI infrastructure and chips
Against the S&P 500, 1 year	ahead by 5.1 pts
Its benchmark, total return, 1 year	+14.8%
Against its benchmark, 1 year	ahead by 5.1 pts
Cost and size
Measure	FAI	TCAI
Expense ratio	0.65%	0.65%
Net assets, FAI as of Nov 3, 2026 and TCAI as of Aug 31, 2026	$245m	$230m
Holdings
Measure	FAI	TCAI
Holdings in common	9%

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 Score16.2FAI65.4TCAI

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

FAI 16.2

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

FAI TCAI

Return

Total return edge TCAI +36.6% +54.1%

Annualized edge TCAI +29.3% +42.9%

Price return edge TCAI +36.6% +54.0%

Risk

Volatility edge FAI 27.8% 36.7%

Max drawdown edge FAI −16.8% −33.9%

Risk-adjusted

Sharpe edge TCAI 0.93 1.06

Sortino edge TCAI (slight) 1.47 1.51

Calmar edge FAI 1.75 1.27

Reading

From Aug 2025 to Oct 2026, TCAI returned more: +54.1% to +36.6%. FAI swung less: 27.8% to 36.7%. FAI fell less at its worst: −16.8% to −33.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FAI vs TCAI: Holdings Overlap & Returns
Measure	FAI	TCAI	Edge	How it is measured
Return
Total return	+36.6%	+54.1%	TCAI	Price change plus distributions, reinvested.
Annualized	+29.3%	+42.9%	TCAI	Total return as a yearly rate.
Price return	+36.6%	+54.0%	TCAI	Price change alone, distributions left out.
Risk
Volatility	27.8%	36.7%	FAI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	17.6%	25.7%	FAI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−16.8%	−33.9%	FAI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.93	1.06	TCAI	Return above Treasury bills per unit of volatility.
Sortino	1.47	1.51	TCAI (slight)	Return above Treasury bills per unit of downside deviation.
Calmar	1.75	1.27	FAI	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

By the books each fund has filed, FAI and TCAI hold 9% 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

9% in common

Positions both hold · largest shared weight first FAI TCAI

Micron Technology, Inc. 3.64% 5.29%

SK Hynix Inc. 3.49% 2.15%

Arista Networks, Inc. 1.46% 2.49%

NVIDIA Corporation 8.09% 0.74%

Nebius Group N.V. 0.52% 2.56%

Only in one fund ↓

Only in FAI

Microsoft Corporation 9.22%

Amazon.com, Inc. 9.12%

Broadcom Inc. 8.56%

Alphabet Inc. (Class A) 7.46%

Palantir Technologies Inc. (Class A) 4.25%

Taiwan Semiconductor Manufacturing Company Ltd. 4.08%

Meta Platforms, Inc. (Class A) 3.90%

ASML Holding N.V. 3.81%

Only in TCAI

Dell Technologies Inc 6.37%

Vertiv Holdings Co 5.59%

Sandisk Corp 4.25%

Ciena Corp 4.01%

Seagate Technology Holdings PL 3.83%

Quanta Services Inc 3.64%

nVent Electric PLC 3.42%

Western Digital Corp 3.18%

Check overlap with more funds →

Window by window

Window by window: FAI vs TCAI: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	FAI	TCAI	FAI	TCAI
3 months	−5.9%	−25.9%	−5.8 pts vs VOO	not measured
6 months	+3.2%	−28.8%	−1.8 pts vs VOO	not measured
1 year	+19.9%	+7.5%	+5.1 pts vs VOO	not measured
Since launchNot the same days: FAI Nov 2024 · TCAI Aug 2025	+67.8%	+40.4%	+35.5 pts vs VOO	not measured

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Side by side

FAI First Trust Bloomberg Artificial Intelligence ETF · Holds 50 stocks in artificial intelligence, 76% 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 First Trust Tortoise

Theme Artificial intelligence AI infrastructure and chips

In the S&P 500 76.5% 60.4%

Active share vs the S&P 500 70.1% 93.3%

In the Nasdaq-100 77.3% 25.7%

Holdings 50 46

Top ten, share of the fund 62.1% 42.6%

Expense ratio 0.65% 0.65%

Fee for the differing part 0.93% 0.70%

Total return, 1 year +19.9% +7.5%

vs its benchmark +5.1 pts vs VOO not measured

Below its high −14.0% −39.3%

Net assets, FAI as of Nov 3, 2026 and TCAI as of Aug 31, 2026 $245m $230m

As of Nov 4, 2026. Source: ETFIQ.

9% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

FAI

By weight, 76% of FAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 70%. The top ten holdings are 62% of the fund across 50 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +19.9% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was ahead by 5.1 pts. It sits 14.0% below its all-time high of Oct 6, 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 FAI and TCAI hold the same stocks?: By their latest filings, 9% 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, FAI or TCAI?: FAI has 76% of its weight in S&P 500 names and TCAI has 60%, so TCAI differs more from the index.
Which is cheaper, FAI or TCAI?: FAI and TCAI both charge 0.65% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

FAI vs IVEP FAI vs AIHY FAI vs AINF FAI vs AIPO TCAI vs KOID TCAI vs XAIX TCAI vs THNQ TCAI vs ALAI

Where to next

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

Sources and dates

FAI filings on SEC EDGAR ↗

FAI prospectus with the expense ratio (SEC) ↗

First Trust page for FAI ↗

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.

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

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