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Launched

TCW Transform Systems ETF

PWRDNasdaqTCWC

$96.46−1.13 (−1.15%)

At close: Nov 2, 2026, 4:00 PM ET

C46/ 100

Rank 9 of 19 in Global Thematic

C46/100Rank 9 of 19inGlobal Thematic
Intraday session: down, 79 prints from 97.59 to 96.46. Range 96.42 to 99.20. Use the arrow keys to read each point.97.0098.0098.5099.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$1.42B
1Y total return
−4.6%
Yield · Last 12 months
0.06%
Holdings
29
Avg volume · 30D
95.4K sh
52W range
low $90.58high $123.23
Launched

The ETF.net PWRD Grade

Based on 5 of 6 pillars

C

Score 46 out of 100

Category
Global Thematic⁠
Rank
9 of 19
Six-pillar profile for PWRD. Scores out of 100: Cost 19, Risk 49, Mission not scored, Tradability 89, Holdings 49, Durability 76. Strongest: Tradability (89). Weakest: Cost (19). Based on 5 of 6 pillars.

Score 46 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F19 out of 100
    Rank 14 of 19

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 9 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A89 out of 100
    Rank 1 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C49 out of 100
    Rank 12 of 17

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A76 out of 100
    Rank 4 of 19

Our read on PWRD

ETF.net Research

In short

CA concentrated global bet on the machinery of energy: roughly 30 companies tied to how the world sources, produces and consumes power. Broader than a solar index, and far narrower than a sector fund.

Stated mandate

The fund seeks long-term capital growth by investing in companies expected to benefit from worldwide changes in the systems used to source, produce, and consume energy and power.

Why people hold it

  • One idea, roughly 30 stocks, worldwide. The mandate covers the whole chain (sourcing, production, consumption), so it reaches well beyond power generators.
  • A multi-billion-dollar fund that trades at moderate volume: unusual heft for a single-theme portfolio this narrow.
  • Trading since 2022, so there is a multi-year live record to judge instead of a backtest.

Worth knowing

  • At 0.75% a year, it costs more than the typical global thematic ETF. Cheaper options sit in the same group, including KLMT at 0.10% and IQSZ at 0.19%.
  • With roughly 30 holdings, a handful of names steer the outcome, and a single-theme portfolio can look nothing like a broad global index.
  • Payouts come once or twice a year. The stated goal is long-term capital growth, not income.

PWRD Holdings

Holdings pillarC49 out of 100Rank 12 of 17 in Global Thematic
Asset class
Stocks
Holdings
29
Top-10 weight
53%
Largest holding
GE8.5%

Geography

  • United States81.90%
  • France4.95%
  • Netherlands4.31%
  • Canada4.10%
  • Taiwan3.43%
  • Sweden1.31%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1GEGeneral Electric8.47%395,450$124M404
2UNPUnion Pacific Corp7.02%339,538$103M414
3VGVenture Global Inc-Cl A6.21%6,144,645$90.8M105
4XOMExxonmobil Holdings Corp5.45%434,391$79.6M525
5ANETArista Networks Inc5.43%430,931$79.4M511
6SAF.PASafran SA /Eur/4.76%223,134$69.5M156
7AIR.PAAirbus SE /Eur/4.14%276,213$60.5M129
8AVGOBroadcom Inc4.01%169,698$58.5M753
9No dataCashusd3.94%57,497,724$57.5M53
100Y3K.LEaton Corp PLC3.56%132,159$52M62
11TTTrane Technologies PLC3.54%119,969$51.7M363
12GEVGe Vernova Inc3.37%55,520$49.3M485
13TSMTaiwan Semiconductor-Sp Adr3.29%111,420$48.1M283
14PWRQuanta Services Inc3.28%75,526$48M372
15KLACKla Corp3.10%270,281$45.3M514

Showing 1–15 of 29 holdings

PWRD Performance

Launched Feb 2, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
PWRD$9,540
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PWRD $9,540. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PWRD. Periods over one year show the average yearly return.
PeriodPWRD
Year to date+1.5%
1 month−7.2%
3 months−9.6%
1 year−4.6%
3 yearsper year+25.0%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PWRD
YearReturn barPWRD
2026 YTD+1.5%
2025+32.8%
2024+28.6%
2023+20.8%
2022−2.6%

History from Feb 3, 2022

PWRD in the news

PWRD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.06%Last 12 months
Payout per share
$0.06Last 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 15 payments from 2022 to 2026 YTD. Mar 22, 2022 $0.04; Jun 21, 2022 $0.14; Sep 20, 2022 $0.13; Dec 20, 2022 $0.12; Mar 21, 2023 $0.04; Jun 20, 2023 $0.20; Sep 19, 2023 $0.06; Dec 19, 2023 $0.15; Mar 18, 2024 $0.04; Jun 24, 2024 $0.19; Sep 23, 2024 $0.06; Dec 23, 2024 $0.07; Mar 24, 2025 $0.04; Jun 23, 2025 $0.17; Jun 23, 2026 $0.06. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 25, 2026$0.06
Jun 23, 2025Jun 25, 2025$0.17
Mar 24, 2025Mar 26, 2025$0.04
Dec 23, 2024Dec 26, 2024$0.07
Sep 23, 2024Sep 25, 2024$0.06
Jun 24, 2024Jun 26, 2024$0.19
Mar 18, 2024Mar 20, 2024$0.04
Dec 19, 2023Dec 21, 2023$0.15
Sep 19, 2023Sep 21, 2023$0.06
Jun 20, 2023Jun 22, 2023$0.20
Mar 21, 2023Mar 23, 2023$0.04
Dec 20, 2022Dec 22, 2022$0.12

See all 15 payments⁠

$10,000 in PWRD 3 years ago paid $150 in dividends.⁠

PWRD Risk

Risk pillarC49 out of 100Rank 9 of 19 in Global Thematic
How much the fund’s monthly returns vary, scaled to a year.
22.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.91
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−25.9%
56 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.19
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PWRD Cost

Compare PWRD and WRND

Overpaying vs WRND, cheapest in Global Thematic

$10,733

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PWRD 0.75%

    $14,482

  • WRND 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • PWRD 0.75%
  • WRND 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PWRD $14,482WRND $3,749

Year by year

YearPWRDWRNDOverpaying
10$1,336$328$1,008
20$5,078$1,281$3,797
30$14,482$3,749$10,733

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