DARP vs. PWRD

Last updated Jun 24, 2026

DARP (Grizzle Growth ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while PWRD is a Energy Equities fund actively managed by TCW. Both are actively managed. Over the past year, DARP returned 68.50% vs 36.33% for PWRD. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

DARP vs. PWRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) 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, DARP achieves a 26.21% return, which is significantly higher than PWRD's 21.92% return.

DARP

• 1D: -4.47%
• 1M: -1.76%
• YTD: 26.21%
• 6M: 25.50%
• 1Y: 68.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWRD

• 1D: -4.36%
• 1M: 4.92%
• YTD: 21.92%
• 6M: 19.81%
• 1Y: 36.33%
• 3Y*: 33.16%
• 5Y*: —
• 10Y*: —

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

DARP vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DARP Grizzle Growth ETF	26.21%	40.19%	24.63%	6.25%
PWRD TCW Transform Systems ETF	21.92%	32.84%	28.54%	8.92%

Correlation

The correlation between DARP and PWRD is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 28, 2023	0.77

The correlation between DARP and PWRD has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

Return for Risk

DARP vs. PWRD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DARP

DARP Risk / Return Rank: 85
DARP Sharpe Ratio Rank: 89
DARP Sortino Ratio Rank: 76
DARP Omega Ratio Rank: 78
DARP Calmar Ratio Rank: 92
DARP Martin Ratio Rank: 91

PWRD

PWRD Risk / Return Rank: 46
PWRD Sharpe Ratio Rank: 43
PWRD Sortino Ratio Rank: 41
PWRD Omega Ratio Rank: 40
PWRD Calmar Ratio Rank: 55
PWRD Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DARP vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) 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.

	DARP	PWRD	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.44	+1.33
Sortino ratio: Return per unit of downside risk	3.19	1.99	+1.20
Omega ratio: Gain probability vs. loss probability	1.43	1.25	+0.18
Calmar ratio: Return relative to maximum drawdown	5.83	2.58	+3.24
Martin ratio: Return relative to average drawdown	20.69	8.57	+12.12

DARP vs. PWRD - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.77, which is higher than the PWRD Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of DARP 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

DARP vs. PWRD - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, which is greater than PWRD's maximum drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for DARP and PWRD.

Drawdown Indicators

	DARP	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-25.87%	-4.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-14.12%	+2.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.87%	—
Current Drawdown Current decline from peak	-5.59%	-4.36%	-1.23%
Average Drawdown Average peak-to-trough decline	-4.64%	-5.07%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	4.25%	-0.93%

Volatility

DARP vs. PWRD - Volatility Comparison

Grizzle Growth ETF (DARP) and TCW Transform Systems ETF (PWRD) have volatilities of 10.71% and 10.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DARP	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.71%	10.84%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	19.20%	20.67%	-1.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.83%	25.31%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.48%	22.89%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.48%	22.89%	+3.59%

DARP vs. PWRD - Expense Ratio Comparison

Both DARP and PWRD have an expense ratio of 0.75%.

Dividends

DARP vs. PWRD - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.34%, while PWRD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%	0.00%
PWRD TCW Transform Systems ETF	0.00%	0.22%	0.49%	0.78%	0.91%

Frequently Asked Questions

Can I hold both DARP and PWRD in my portfolio?

DARP and PWRD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DARP or PWRD?

PWRD has higher volatility (10.84%) compared to DARP (10.71%). In terms of maximum drawdown, DARP dropped -30.27% vs PWRD's -25.87%.

Which ETF is better, DARP or PWRD?

On 1-year performance, DARP leads with 68.50% vs 36.33% for PWRD. Both ETFs have the same 0.75% expense ratio. On volatility, DARP has been the lower-risk option at 10.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DARP or PWRD?

Over the 1-year period, DARP has performed better with a 68.50% return vs 36.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DARP or PWRD?

DARP and PWRD have the same expense ratio: 0.75% per year.

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

DARP has the higher dividend yield at 0.34%, compared with 0.00% for PWRD.

What is the main difference between DARP and PWRD?

DARP is categorized as Large Cap Growth Equities, while PWRD is Energy Equities. They also come from different issuers: Grizzle and TCW.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (2.77 vs 1.44), 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.