POW vs ZAP

POWDVistaShares Electrification Supercycle ETF

ZAPBGlobal X U.S. Electrification ETF

In short

POW Most grid funds buy the utilities. POW works the bill of materials instead: transformers, HVDC gear, switchgear, cooling, the parts list behind the AI power buildout, in an active book of roughly 60 names.

ZAP Most electrification funds buy the picks and shovels. ZAP also buys the power company: a US-focused index spanning conventional generation and delivery, alternative power, and grid hardware, priced at the low end of its peer group.

Stated mandate

POW The fund seeks long-term capital appreciation by actively investing in companies involved in electrification infrastructure, including modern energy grids, integrated storage, and distributed power systems.

ZAP The Fund seeks to track, before fees and expenses, the price and yield performance of the Global X U.S. Electrification Index. It invests at least 80% of net assets in securities of that index, including common stocks and ADRs.

Why people hold it

• POW Buys the parts list, not the power company: transformers, HVDC systems, substation switchgear and cooling, suppliers broad indexes often skip for big energy operators.vistashares.com
• Actively managed against the BITA VistaShares Electrification Supercycle Index, with a global mandate and at least 80% of assets in electrification companies.vistashares.com
• At 0.75% it lines up with active peer VOLT and comes in under FPWR at 0.96%.

• ZAP 0.50% expense ratio, tied for cheapest in its electrification cohort and comfortably under the 0.75% cohort median.
• Three lanes in one basket: conventional electricity generation, transmission and distribution; alternative power; and grid and smart-grid technology. Pays quarterly.globalxetfs.com
• Revenue screens keep the theme tight: grid and alternative names need 50%+ of revenue from the theme, conventional utilities 75% to get in.globalxetfs.com
• Deliberately domestic. The index sticks to US-listed electrification names, while a peer like GRID tracks a global smart-grid benchmark.sec.govsec.gov 2

Worth knowing

• POW Index-based rivals cost less: ELFY and ZAP at 0.50%, GRID at 0.56%. You pay up here for the active, supply-chain-first build.
• One theme, roughly 60 names, no utility ballast. It trades on the electrification story and can swing hard in both directions.
• Launched in 2025, so the live record is short, and it sits toward the back of its electrification peer group in our review.

• ZAP Launched December 2024, so the track record is short and there is little history to judge it against.
• About 40 holdings, and the prospectus says the fund concentrates its investments. Moves in power and grid names land with full force.sec.gov
• Self-indexed: Global X owns the index its own fund tracks, and an affiliate administers it. Common in thematics, still worth knowing.sec.gov

Full POW profile⁠

Full ZAP profile⁠