TCW Transform Systems ETF
$106.50+0.03 (+0.03%)
- Expense ratio
- 0.75%
- Fund size
- $1.5B
- 1Y return
- +8.6%
- Yield · Last 12 months
- 0.06%
- Holdings
- 28
- Volume · 30D
- 0.1M sh
- NAV per share
- $106.09
- 52W range
The ETF.net PWRD Grade
Score 48 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 20Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 57Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 89Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 51Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 73Category rank
Our read on PWRD
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.
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
- Stocks
- 28
- 51%
- GE
Geography
- United States75.58%
- Ireland6.46%
- France5.83%
- Netherlands4.25%
- Taiwan (Province of China)3.29%
- Canada1.76%
- Germany1.53%
- Sweden1.31%
Developed 87% · Emerging 13%
PWRD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | PWRD |
|---|---|
| Year to date | +10.8% |
| 1 month | −1.7% |
| 3 months | −13.1% |
| 1 year | +8.6% |
| 3 years | +28.2% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PWRD |
|---|---|---|
| 2026 YTD | +10.8% | |
| 2025 | +32.8% | |
| 2024 | +28.6% | |
| 2023 | +20.8% | |
| 2022 | −2.6% |
PWRD in the news
ETF.net Research hasn’t filed on PWRD yet — coverage lands here as it’s written.
PWRD Dividends
- 0.06%
- $0.06
- $0.06 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 23, 2026 | Jun 25, 2026 | $0.06 |
| Jun 23, 2025 | Jun 25, 2025 | $0.17 |
| Mar 24, 2025 | Mar 26, 2025 | $0.04 |
| Dec 23, 2024 | Dec 26, 2024 | $0.07 |
| Sep 23, 2024 | Sep 25, 2024 | $0.06 |
| Jun 24, 2024 | Jun 26, 2024 | $0.19 |
| Mar 18, 2024 | Mar 20, 2024 | $0.04 |
| Dec 19, 2023 | Dec 21, 2023 | $0.15 |
| Sep 19, 2023 | Sep 21, 2023 | $0.06 |
| Jun 20, 2023 | Jun 22, 2023 | $0.20 |
| Mar 21, 2023 | Mar 23, 2023 | $0.04 |
| Dec 20, 2022 | Dec 22, 2022 | $0.12 |
PWRD Risk
- 22.2%
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.
- 0.95
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.
- −25.9%
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.
- 1.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PWRD Cost
- The middle half of Global Thematic funds
- Median 0.58%
15 of the 21 Global Thematic funds charge less.