ETF Evaluator:
Infrastructure Capital Small Cap Inc ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Small Value Over the Last Year
| 44.0% | EA Bridgeway Omni Small-Cap Value ETF (BSVO) |
| 43.5% | Cambria Micro and Smcp Shld Yld ETF (MYLD) |
| 42.4% | First Trust Small Cap Val AlphaDEX® ETF (FYT) |
| 42.0% | Invesco S&P SmallCap 600® Pure Value ETF (RZV) |
| 41.7% | EA Bridgeway Ultra-Small Company Mkt ETF (BUSM) |
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ETF Details
Infrastructure Capital Small Cap Inc ETF Overview
Infrastructure Capital Small Cap Inc ETF (SCAP) is an actively managed U.S. Equity Small Value exchange-traded fund (ETF). InfraCap launched the ETF in 2023.
The investment seeks total return through a blended approach of capital appreciation and current income.
The fund, under normal conditions, invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small-capitalization companies. It defines small-capitalization companies as those companies with a market capitalization, at the time of initial investment, that is within or below the range of companies in the Russell 2000® Index.
About Infrastructure Capital Small Cap Inc ETF (SCAP)
There are 3 members of the management team with an average tenure of 2.64 years: Jay Hatfield (2023), Andrew Meleney (2023) and Samuel Caffrey-Agoglia (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US 2000 Value TR USD index with a weighting of 100%. Infrastructure Capital Small Cap Inc ETF has 112 securities in its portfolio. The top 10 holdings constitute 35.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Infrastructure Capital Small Cap Inc ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Infrastructure Capital Small Cap Inc ETF has 8.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.4% There is 8.1% allocated to foreign stock, and 16.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Infrastructure Capital Small Cap Inc ETF has 5.3% of the portfolio in cash.
Assets Under Management
The fund has $19 million in total assets, which is below the $2 billion average for the Small Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SCAP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Infrastructure Capital Small Cap Inc ETF expense ratio is high compared to funds in the Small Value category. Infrastructure Capital Small Cap Inc ETF has an expense ratio of 2.20%, which is 358% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Infrastructure Capital Small Cap Inc ETF has a portfolio turnover rate of 166%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Small Value category.
Recently, in the month of July 2026, Infrastructure Capital Small Cap Inc ETF returned -3.5%, which earned it a grade of F, as the Small Value category had an average return of 1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Infrastructure Capital Small Cap Inc ETF has a trailing yield of 7.35%, which is above the 1.71% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Infrastructure Capital Small Cap Inc ETF Grades
Year to date, the ETF has returned 9.5%, 10.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 20.1% over the past year (grade of F).
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SCAP Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SCAP Return (NAV) | -3.5% | 2.2% | 20.1% | na | na | na |
| SCAP Return (Price) | -3.4% | 2.1% | 20.1% | na | na | na |
| NAV +/- Price Return | -0.036% | 0.074% | 0.022% | na | na | na |
| Small Value Avg | 1.2% | 6.4% | 31.1% | 13.1% | 8.6% | 10.2% |
| SCAP Grade (NAV) | F | F | F | na | na | na |
| +/- Category (NAV) | -4.6% | -4.2% | -11.0% | na | na | na |
| SCAP Tax-Cost Ratio | na | na | 3.0% | na | na | na |
SCAP Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SCAP Return (NAV) | 9.5% | 11.9% | 16.2% | na | na | na | na | na | na | na | na |
| SCAP Return (Price) | 9.3% | 11.9% | 16.4% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.014% | -0.006% | 0.011% | na | na | na | na | na | na | na | na |
| Small Value Avg | 19.7% | 7.0% | 7.8% | 17.1% | -10.9% | 33.0% | 4.1% | 21.2% | -12.2% | 9.8% | 29.4% |
| SCAP Grade (NAV) | F | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -10.3% | 4.9% | 8.4% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 7.4% |
| Total Assets: | $ 20 Mil |
| Share Class Assets: | $ 20 Mil |
| Turnover: | 166.0% |
| Expense Ratio: | 2.20% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.6 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Hatfield Jay (2023), Meleney Andrew (2023), Caffrey-Agoglia Samuel (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 112 |
| % in Top 10 Holdings: | 35.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.1% |
Portfolio Allocation |
|
| Domestic Stock: | 93.4% |
| Foreign Stock: | 8.1% |
| Preferred Stock: | 16.3% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -23.1% |
| Cash: | 5.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | InfraCap |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | December 11, 2023 |
Expenses and Fees
| Expense Ratio (%): | 2.20% (Rating: High) |
| Category Average Expense Ratio (%): | 0.48% |
