TCAI Fees and Costs — Tortoise AI Infrastructure ETF
Data updated: 2026-07-29
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0101% of average net assets, and portfolio turnover was 31%.
TCAI Fees and Expenses
Annual operating expenses and sales charges of TCAI. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TCAI Costs Over Time
On $10,000 invested in TCAI, assuming 5% a year before costs, total costs come to $416 over 5 years, cutting the return by 0.69% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $228 | $416 |
| Value after costs | $10,431 | $11,349 | $12,347 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
TCAI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0101%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $998K
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
TCAI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS SECURITIES LLC | $1K | 49.98% |
| INSTINET CLEARING SERVICES INC | $354 | 12.91% |
| CITIBANK GROUP MARKETS | $304 | 11.08% |
| RBC CAPITAL MARKETS, LLC | $293 | 10.68% |
| LIQUIDNET, INC. | $260 | 9.48% |
| MORGAN STANLEY & CO. LLC | $118 | 4.30% |
| GOLDMAN SACHS & CO. LLC | $39 | 1.42% |
| RAYMOND JAMES & ASSOCIATES INC | $3 | 0.11% |
| BARCLAY INVESTMENTS, LLC | $1 | 0.04% |
TCAI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $797K | 79.90% |
| GTS SECURITIES LLC | $144K | 14.46% |
| RBC CAPITAL MARKETS LLC | $56K | 5.64% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.