Data as of .
IVEP vs TCAI: which is really different?
IVEP and TCAI hold 23% of their weight in the same names.
ETFIQ Off-Index Score: IVEP 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
23% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, IVEP and TCAI hold 23% of their money in the same securities at the same weight.
| Holding | IVEP | TCAI |
|---|---|---|
| VERTIV HOLDINGS COMPANY | 4.12% | 4.48% |
| QUANTA SERVICES INC | 4.31% | 3.58% |
| CONSTELLATION ENERGY CORP | 3.88% | 2.70% |
| NVENT ELECTRIC PLC | 2.66% | 3.18% |
| SCHNEIDER ELECTRIC SE | 3.91% | 1.94% |
| NRG ENERGY INC | 2.59% | 1.90% |
| WILLIAMS COMPANIES INC (THE) | 3.66% | 1.46% |
| VISTRA CORP | 3.11% | 1.13% |
| GE VERNOVA INC | 4.16% | 1.12% |
| COHERENT CORP | 3.22% | 0.96% |
| TALEN ENERGY CORP | 2.55% | 0.58% |
| SIEMENS ENERGY AG | 4.11% | 0.57% |
| Only in IVEP | Only in TCAI |
|---|---|
| BLOOM ENERGY CORP 4.98% | Dell Technologies Inc 8.94% |
| EATON CORP PLC 4.07% | Micron Technology Inc 7.64% |
| NEXTERA ENERGY INC 3.94% | Seagate Technology Holdings PL 5.77% |
| MONOLITHIC POWER SYSTEMS INC 3.89% | Western Digital Corp 5.14% |
| EQUINIX INC 3.78% | Ciena Corp 5.10% |
| SOUTHERN COMPANY (THE) 3.65% | Sandisk Corp/DE 3.47% |
| JOHNSON CONTROLS INTERNATIONAL PLC 3.55% | MYR Group Inc 3.29% |
| BAKER HUGHES COMPANY 3.53% | Credo Technology Group Holding 3.03% |
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 Apr 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| IVEP | TCAI | IVEP | TCAI | IVEP | TCAI | |
| 3 months | −11.8% | −16.4% | −14.0 pts | −18.6 pts | −9.3 pts | −13.9 pts |
| 6 months | not published | +34.7% | not published | +16.7 pts | not published | +10.5 pts |
| 1 year | not published | +67.6% | not published | +51.0 pts | not published | +45.8 pts |
| Since launch | −2.5% | +88.8% | −15.7 pts | +65.8 pts | −21.7 pts | +59.4 pts |
| IVEP Dan IVES Wedbush AI Power & Infrastructure ETF Holds 30 stocks in aI infrastructure and chips, 71% 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 | Wedbush | Tortoise |
| Theme | AI infrastructure and chips | AI infrastructure and chips |
| In the S&P 500 | 71.2% | 63.2% |
| Active share vs the S&P 500 | 97.0% | 92.7% |
| In the Nasdaq-100 | 11.3% | 26.2% |
| Holdings | 30 | 43 |
| Top ten, share of the fund | 41.4% | 50.6% |
| Expense ratio | 0.75% | 0.65% |
| Fee for the differing part | 0.77% | 0.70% |
| Total return, 1 year | −2.5% (since launch on Apr 8, 2026) | +67.6% |
| vs the S&P 500 | −15.7 pts | +51.0 pts |
| vs the Nasdaq-100 | −21.7 pts | +45.8 pts |
| Below its high | −13.0% | −18.4% |
| Net assets | $9m | $217m |
IVEP in plain words
By weight, 71% of IVEP's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 41% of the fund across 30 positions, as filed for Apr 30, 2026. Since it launched on Apr 8, 2026 the fund returned −2.5% with distributions reinvested against +13.2% for the S&P 500, so a holder was behind by 15.7 pts. It sits 13.0% below its all-time high of May 6, 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 IVEP and TCAI hold the same stocks?
- By their latest filings, 23% 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, IVEP or TCAI?
- IVEP has 71% of its weight in S&P 500 names and TCAI has 63%, so IVEP differs more from the index.
- Which is cheaper, IVEP or TCAI?
- IVEP charges 0.75% 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, IVEP against TCAI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/ivep-vs-tcai Free to use with attribution; the underlying files are at Open data.