PWRD vs WRND

PWRDCTCW Transform Systems ETF

WRNDBNYLI Global Equity R&D Leaders ETF

In short

PWRD A 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.

WRND Most innovation funds sell you a story. WRND buys receipts: roughly 200 companies worldwide picked on what they actually spend on R&D and whether that spending earns a return, at a fee well under the thematic norm.

Stated mandate

PWRD 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.

WRND The Fund seeks to track, before fees and expenses, the price and yield performance of the IQ Global Equity R&D Leaders Index. Its passive strategy targets innovative companies worldwide based on high research and development spending.

Why people hold it

• PWRD 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.

• WRND 0.18% a year against a 0.56% median for its global thematic peers. Innovation exposure without the boutique markup.newyorklifeinvestments.com
• Selection leans on the income statement: R&D intensity paired with return on invested capital, favoring firms that turn research budgets into results.newyorklifeinvestments.com
• Roughly 200 names from a global universe, one of three R&D-screened funds New York Life launched in 2022 rather than a one-off experiment.businesswire.com

Worth knowing

• PWRD 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.

• WRND Small and lightly traded, so bid/ask spreads tend to run wider than on mainstream global index funds.
• Weighting by R&D dollars, with a cap on any single position, tilts the book toward the world's largest research spenders.businesswire.cometfstrategy.com
• Distributions arrive quarterly, but income isn't the mandate; the index screens on research spending, not payouts.

Full PWRD profile⁠

Full WRND profile⁠