Tortoise Capital's AI Infrastructure ETF (NYSE:TCAI) Reaches $200 Million in Assets, Fueled by Growing AI Infrastructure Demand

Tortoise AI Infrastructure ETF (NYSE:TCAI) surpassed $200 million AUM as of May 26, 2026, after crossing $100 million on April 9, 2026.

Rhea-AI Summary

Tortoise AI Infrastructure ETF (NYSE:TCAI) surpassed $200 million AUM as of May 26, 2026, after crossing $100 million on April 9, 2026. Launched August 4, 2025, TCAI targets companies powering AI infrastructure.

Since inception to May 31, 2026, it returned +113% NAV and +114% market price versus the S&P 500’s 21%. The ETF is actively managed with a 0.65% expense ratio.

Positive

• Assets under management surpassed $200 million as of May 26, 2026
• AUM doubled from $100 million to $200 million in about seven weeks
• Since inception NAV return of +113% vs S&P 500 21% to May 31, 2026
• Year-to-date NAV return of 82.22% as of May 31, 2026
• 1-month market price return of 19.95% vs S&P 500 5.26%
• Actively managed exposure to AI infrastructure across data centers, energy, semiconductors and connectivity

Negative

• Total annual operating expenses are 0.65% of fund assets
• Investment return and principal value fluctuate; redeemed shares may be worth less than original cost
• Past performance, including the +113% NAV cumulative return, does not guarantee future results

Argus Jun 4 session

-2.45% close to close Open Argus

Details

News Market Reaction – TCAI

On Jun 4, the day this news came out, TCAI closed 2.45% below the previous close.

Data tracked by StockTitan Argus for the Jun 4 session.

Key Figures

AUM level: $200 million Prior AUM milestone: $100 million Cumulative return (NAV): +113% +5 more

AUM level

$200 million

Assets under management as of May 26, 2026

Prior AUM milestone

$100 million

AUM threshold crossed on April 9, 2026

Cumulative return (NAV)

+113%

Since inception on August 4, 2025, as of May 31, 2026

Cumulative return (price)

+114%

Since inception on August 4, 2025, as of May 31, 2026

S&P 500 return

21%

Same inception-to-date period, based on Bloomberg data

1-month return (price)

19.95%

TCAI market price, 1 month as of May 31, 2026

Expense ratio

0.65%

Total annual operating expenses stated in the Prospectus

Inception date

August 4, 2025

Fund launch date

Previous AI Reports

1 past event · Latest: Apr 29

Same Type 1 event

1. Apr 29

   AI AUM milestone

   24h Move

   +1.0%

   Announced AUM above $100M with strong AI-focused performance metrics.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

etf, nav, s&p 500 total return index, bid/ask midpoint, +3 more

7 terms

etf financial

"The Tortoise AI Infrastructure ETF (TCAI) has surpassed $200 million..."

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

View in glossary

nav financial

"delivering a +113% and +114% cumulative return on NAV and market price..."

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

View in glossary

s&p 500 total return index financial

"S&P 500 Total Return Index | 5.26% | 10.52% | 11.27%..."

A version of the S&P 500 index that measures not only the price movement of the 500 large U.S. companies but also assumes all dividends are immediately reinvested, showing the total growth an investor would have achieved. It matters because it gives a truer picture of long-term investment returns and is used as a benchmark to compare fund performance — like tracking a savings balance that keeps interest paid back into the account so you see real, compounded growth.

bid/ask midpoint financial

"Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time..."

The bid/ask midpoint is the price halfway between the highest price a buyer is willing to pay (the bid) and the lowest price a seller will accept (the ask). Think of it as the average of offers on a marketplace: it gives a neutral estimate of a security’s fair value and helps investors judge transaction costs, short-term price movement, and whether a trade is being executed close to a reasonable market price.

nyse financial

"prior to the date when the fund first traded on the New York Stock Exchange."

A large, regulated marketplace where stocks and other securities are listed and traded, acting like a global auction house that matches buyers and sellers and helps determine share prices. It matters to investors because listing and trading there provide liquidity, price discovery, and regulatory oversight—making it easier to buy or sell holdings and giving companies a visible platform that can affect credibility and access to capital.

View in glossary

expense ratio financial

"As stated in the Prospectus, the total annual operating expenses are 0.65%."

The expense ratio is the annual fee a mutual fund or exchange-traded fund charges to cover its operating costs, shown as a percentage of the fund’s assets. Think of it like a yearly maintenance or subscription fee that quietly reduces your investment’s returns; even small differences matter over time because the fee compounds against your gains. Investors compare expense ratios to judge how much of their returns will be eaten by fund costs.

View in glossary

actively managed etf financial

"Strategy: Actively managed ETF focused on AI infrastructure"

An actively managed ETF is an exchange-traded fund that buys and sells stocks or bonds based on decisions by a professional manager rather than automatically following a fixed list of investments. Because the manager can adapt holdings to market changes, these funds aim to beat a benchmark or reduce risk, which can mean higher fees and manager-dependent results—important for investors weighing potential extra returns against cost and consistency.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OVERLAND PARK, KS / ACCESS Newswire / June 4, 2026 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy and infrastructure investing, today announced that the Tortoise AI Infrastructure ETF (TCAI) has surpassed $200 million in assets under management (as of May 26, 2026), marking another major milestone in the fund's rapid growth since launching in August of 2025.

The ETF crossed the $100 million threshold on April 9^th, 2026, and has since doubled in size in just a matter of weeks as investor interest in AI-related infrastructure continues to accelerate.

"Reaching $200 million so quickly after crossing the $100 million milestone speaks to how rapidly investor interest around AI infrastructure has accelerated," said Tom Florence, CEO of Tortoise Capital. "We believe that investors are increasingly recognizing that AI is not just a software story. Instead, it's an infrastructure story that spans across power generation, grid modernization, and compute capacity."

The Case for AI Infrastructure

TCAI was launched to provide investors with exposure to the companies powering the physical backbone of artificial intelligence, including data centers, energy infrastructure, semiconductors, digital connectivity, and related infrastructure businesses positioned to benefit from the growing global demand for AI computing capacity.

"We've seen a meaningful shift in how investors are approaching the AI opportunity," said Mark Marifian, Head of Product at Tortoise Capital. "The conversation has evolved beyond chips and toward the infrastructure needed to support AI at scale. Leveraging our experience investing through the shale boom and broader energy infrastructure buildout, we believe Tortoise's active approach is well positioned to navigate the supply and demand dynamics emerging from accelerating AI infrastructure demand."

Continued Momentum Since Launch

The fund's strong asset growth has been accompanied by significant market performance, delivering a +113% and +114% cumulative return on NAV and market price since inception on August 4, 2025, as of May 31, 2026. In comparison, the S&P 500 Index has returned 21% over the same period, based on Bloomberg data.

TCAI Performance

	1 Month (as of May 31, 2026)	QTD (as of May 31, 2026)	YTD (as of May 31, 2026)	QTD (as of March 31, 2026)	Calendar YTD (as of March 31, 2026)	Since Inception (as of March 31, 2026)
TCAI Market Price	19.95%	46.40%	82.89%	16.67%	16.67%	36.77%
TCAI NAV	19.49%	45.66%	82.22%	17.08%	17.08%	36.90%
S&P 500 Total Return Index	5.26%	10.52%	11.27%	-4.33%	-4.33%	4.00%

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. For the fund's most recent month end performance, please call (855) 994-4437.

Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. As stated in the Prospectus, the total annual operating expenses are 0.65%.

Investor demand for AI-related investments has continued to build with growing expectations for long-term electricity demand tied to AI and data center expansion.

"TCAI's momentum has been driven by both performance and a broader understanding of the infrastructure demands being created by AI," said Brett Wright, Chief Revenue Officer. "We believe we're still in the early innings of a multi-year buildout cycle."

Fund Overview & Details

As AI continues to reshape industries and drive global investment, Tortoise Capital believes infrastructure will remain a critical and investable area of opportunity.

TCAI provides investors with a comprehensive way to participate in the long-term, secular growth of AI by investing in the enabling infrastructure that makes AI possible.

• Ticker: TCAI

• Exchange: NYSE

• Inception Date: August 4, 2025

• Expense Ratio: 0.65%

• Strategy: Actively managed ETF focused on AI infrastructure

To learn more about TCAI and Tortoise Capital please visit www.tortoisecapital.com.

About Tortoise Capital

With approximately $11 billion in assets under management as of April 30, 2026, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered investment adviser who manages funds that invest primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit www.tortoisecapital.com.

Important Information

Tortoise Capital Advisors, LLC is the advisor to the Tortoise AI Infrastructure ETF.

For the fund's standardized performance, please visit the fund's webpage here.

The fund has a limited operating history, which may make it more difficult to evaluate the fund's performance and assess the risks associated with investing in the fund. Short-term performance in particular, should not be the sole basis for evaluating an investment.

Nothing in this press release should be considered a solicitation to buy or an offer to sell any shares of the portfolio in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

Before investing in the funds, investors should consider their investment goals, time horizons and risk tolerance. The funds' investment objective, risks, charges and expenses must be considered carefully before investing. The statutory prospectuses and the summary prospectuses (click here) contain this and other important information about the funds. Copies of the funds' prospectus may be obtained by calling 855-994-4437 or by emailing info@tortoisecapital.com. Read it carefully before investing.

Investing involves risk. Principal loss is possible. Because the fund is "non-diversified" and may invest a greater percentage of its assets in the securities of a single issuer, a decline in the value of an investment in a single issuer could cause the fund's overall value to decline to a greater degree than if the fund held a more diversified portfolio. The fund's strategy of emphasizing investments in AI infrastructure companies means that the performance of the fund will be closely tied to the performance of one or more industries that are expected to benefit from the growth of AI-capable data centers and related technology and energy infrastructure. Investing in companies that are expected to benefit from the same macro theme means that some of the fund's investments may be similarly affected by certain market, economic, political, or social developments.

Companies in the energy infrastructure sector are subject to many risks that can negatively impact the revenues and viability of companies in this sector, including, but not limited to risks associated with companies owning and/or operating pipelines, gathering and processing assets, power infrastructure, propane assets, as well as capital markets, terrorism, natural disasters, climate change, operating, regulatory, environmental, supply and demand, and price volatility risks. Companies in the technology infrastructure sector are subject to many risks that can negatively impact the revenues and viability of companies in this sector, including, but not limited to risks associated with emerging technology that renders existing products or services obsolete, reliance on outdated technology, intellectual property theft, supply chain disruption, vulnerabilities to third-party vendors and suppliers, business interruption, difficulty in retaining skilled talent, and regulatory compliance. Companies in the industrial sector face a variety of risks, including commodity price volatility, supply chain disruptions, potential obsolescence of technologies, economic downturns, and increasing competition.

Investment advisers, including the Adviser, must rely in part on digital and network technologies (collectively "cyber networks") to conduct their businesses. Derivatives include instruments and contracts that are based on and valued in relation to one or more underlying securities, financial benchmarks, indices, or other reference obligations or measures of value. If the fund writes a covered call option, during the option's life the fund gives up the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but retains the risk of loss should the price of the underlying security decline. Investments in securities of foreign companies involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks relating to political, social and economic developments abroad, differences between U.S. and foreign regulatory and accounting requirements, tax risks, and market practices, as well as fluctuations in foreign currencies.

The fund may be exposed to liquidity risk when trading volume, lack of a market maker, or legal restrictions impair the fund's ability to sell particular securities or close call option positions at an advantageous price or in a timely manner. Illiquid investments may include restricted securities that cannot be sold immediately because of statutory and contractual restrictions on resale. Mid-cap and small-cap companies may not have the management experience, financial resources, product or business diversification and competitive strengths of large cap companies.

Shares of exchange-traded funds (ETFs) are not individually redeemable and owners of the shares may acquire those shares from the ETF and tender those shares for redemption to the ETF in Creation Units only, see the ETF prospectus for additional information regarding Creation Units. Investors may purchase or sell ETF shares throughout the day through any brokerage account, which will result in typical brokerage commissions.

The S&P 500^® Total Return Index is a total return index that reflects both changes in the prices of stocks in the S&P 500 Index as well as the reinvestment of the dividend income from its underlying stocks.

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NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE

Media Contacts
Craft & Capital
Chris Sullivan chris@craftandcapital.com
Rob Jesselson rob@craftandcapital.com

SOURCE: Tortoise Capital

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What milestone did the Tortoise AI Infrastructure ETF (NYSE:TCAI) reach in assets under management?

Tortoise AI Infrastructure ETF (TCAI) surpassed $200 million in assets under management as of May 26, 2026. According to Tortoise Capital, the ETF doubled from $100 million reached on April 9, 2026, reflecting strong investor demand for AI infrastructure exposure.

How has the Tortoise AI Infrastructure ETF (TCAI) performed since its August 2025 launch?

TCAI delivered +113% cumulative NAV return and +114% market price return since inception to May 31, 2026. According to Tortoise Capital, the S&P 500 returned 21% over the same period, based on Bloomberg data, highlighting notable relative performance.

What are the recent YTD and short-term returns for Tortoise AI Infrastructure ETF (TCAI)?

As of May 31, 2026, TCAI’s YTD NAV return is 82.22% and market price return 82.89%. According to Tortoise Capital, one-month returns were 19.49% for NAV and 19.95% for market price, versus 5.26% for the S&P 500 Total Return Index.

What is the investment focus and strategy of Tortoise AI Infrastructure ETF (TCAI)?

TCAI is an actively managed ETF focused on companies powering AI infrastructure, not just software. According to Tortoise Capital, it targets data centers, energy infrastructure, semiconductors, digital connectivity and related businesses enabling long-term AI computing demand and infrastructure buildout.

What is the expense ratio of Tortoise AI Infrastructure ETF (TCAI)?

TCAI has a stated total annual operating expense ratio of 0.65%. According to Tortoise Capital, this fee is disclosed in the Prospectus and represents the ongoing costs charged annually to fund assets for active management and operations.

When did Tortoise AI Infrastructure ETF (TCAI) launch and on which exchange does it trade?

TCAI launched on August 4, 2025 and trades on the NYSE. According to Tortoise Capital, the ETF offers investors exchange-traded access to the physical infrastructure behind AI, including power, grid modernization, compute capacity and connectivity assets.

What risks and performance caveats apply to investors in Tortoise AI Infrastructure ETF (TCAI)?

TCAI’s investment return and principal value can fluctuate, so shares may be worth less than cost. According to Tortoise Capital, past performance, including strong historical returns, does not guarantee future results, and current performance may be higher or lower than quoted data.