AIPO vs. PWRD

Last updated Aug 6, 2026

AIPO (Defiance AI & Power Infrastructure ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index, while PWRD is a Energy Equities fund actively managed by TCW. AIPO is passively managed, while PWRD is actively managed. Over the past year, AIPO returned 47.44% vs 20.11% for PWRD. Their correlation of 0.92 means they have usually moved in the same direction. AIPO charges 0.69%/yr vs 0.75%/yr for PWRD.

Performance

AIPO vs. PWRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) and TCW Transform Systems ETF (PWRD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIPO achieves a 36.26% return, which is significantly higher than PWRD's 17.23% return.

AIPO

• 1D: -0.43%
• 1M: -5.55%
• 6M: 26.16%
• YTD: 36.26%
• 1Y: 47.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.46%

PWRD

• 1D: -0.29%
• 1M: -4.04%
• 6M: 14.42%
• YTD: 17.23%
• 1Y: 20.11%
• 3Y*: 28.94%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIPO Defiance AI & Power Infrastructure ETF	$40.92M	$37.68M	$46.01M
PWRD TCW Transform Systems ETF	$10.23M	$9.57M	$12.44M

AIPO vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	36.26%	9.46%
PWRD TCW Transform Systems ETF	17.23%	3.09%

Correlation

The correlation between AIPO and PWRD is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.92

The correlation between AIPO and PWRD has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

AIPO vs. PWRD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIPO

AIPO Risk / Return Rank: 45
AIPO Sharpe Ratio Rank: 44
AIPO Sortino Ratio Rank: 41
AIPO Omega Ratio Rank: 41
AIPO Calmar Ratio Rank: 47
AIPO Martin Ratio Rank: 49

PWRD

PWRD Risk / Return Rank: 29
PWRD Sharpe Ratio Rank: 27
PWRD Sortino Ratio Rank: 27
PWRD Omega Ratio Rank: 27
PWRD Calmar Ratio Rank: 31
PWRD Martin Ratio Rank: 35

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIPO vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) and TCW Transform Systems ETF (PWRD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIPO	PWRD	Difference
Sharpe ratio: Return per unit of total volatility	1.27	0.72	+0.55
Sortino ratio: Return per unit of downside risk	1.76	1.14	+0.62
Omega ratio: Gain probability vs. loss probability	1.22	1.14	+0.08
Calmar ratio: Return relative to maximum drawdown	1.96	1.16	+0.80
Martin ratio: Return relative to average drawdown	6.41	3.86	+2.55

AIPO vs. PWRD - Sharpe Ratio Comparison

The current AIPO Sharpe Ratio is 1.27, which is higher than the PWRD Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of AIPO and PWRD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIPO vs. PWRD - Drawdown Comparison

The maximum AIPO drawdown since its inception was -24.36%, smaller than the maximum PWRD drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for AIPO and PWRD.

Drawdown Indicators

	AIPO	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-24.36%	-25.87%	+1.51%
Max Drawdown (1Y) Largest decline over 1 year	-24.36%	-17.46%	-6.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.87%	—
Current Drawdown Current decline from peak	-13.32%	-8.37%	-4.95%
Average Drawdown Average peak-to-trough decline	-5.37%	-5.15%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.42%	5.22%	+2.20%

Volatility

AIPO vs. PWRD - Volatility Comparison

Defiance AI & Power Infrastructure ETF (AIPO) has a higher volatility of 14.01% compared to TCW Transform Systems ETF (PWRD) at 10.07%. This indicates that AIPO's price experiences larger fluctuations and is considered to be riskier than PWRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIPO	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.01%	10.07%	+3.94%
Volatility (6M) Calculated over the trailing 6-month period	29.90%	23.84%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	37.56%	27.95%	+9.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.19%	23.47%	+13.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.19%	23.47%	+13.72%

AIPO vs. PWRD - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is lower than PWRD's 0.75% expense ratio.

Dividends

AIPO vs. PWRD - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, less than PWRD's 0.05% yield.

Position	TTM	2025	2024	2023	2022
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%
PWRD TCW Transform Systems ETF	0.05%	0.22%	0.49%	0.78%	0.91%

Frequently Asked Questions

Can I hold both AIPO and PWRD in my portfolio?

With a correlation of 0.92, AIPO and PWRD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AIPO or PWRD?

AIPO has higher volatility (14.01%) compared to PWRD (10.07%). In terms of maximum drawdown, AIPO dropped -24.36% vs PWRD's -25.87%.

Which ETF is better, AIPO or PWRD?

On 1-year performance, AIPO leads with 47.44% vs 20.11% for PWRD. On fees, AIPO is cheaper at 0.69% per year. On volatility, PWRD has been the lower-risk option at 10.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIPO or PWRD?

Over the 1-year period, AIPO has performed better with a 47.44% return vs 20.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIPO or PWRD?

AIPO is cheaper with a 0.69% expense ratio, compared with 0.75% for PWRD.

Which ETF pays a higher dividend yield, AIPO or PWRD?

PWRD has the higher dividend yield at 0.05%, compared with 0.01% for AIPO.

What is the main difference between AIPO and PWRD?

AIPO is categorized as Artificial Intelligence, while PWRD is Energy Equities. They also come from different issuers: Defiance and TCW. Their fees differ too: 0.69% for AIPO and 0.75% for PWRD.

Which has better risk-adjusted returns?

AIPO currently has the higher Sharpe Ratio (1.27 vs 0.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.