EXI vs. PWRD
EXI (iShares Global Industrials ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - EXI is a Industrials Equities fund tracking the S&P Global 1200 / Industrials -SEC, while PWRD is a Energy Equities fund actively managed by TCW. EXI is passively managed, while PWRD is actively managed. Over the past 3 years, EXI returned 20.42%/yr vs 33.16%/yr for PWRD. Their correlation of 0.82 suggests significant overlap in exposure. EXI charges 0.43%/yr vs 0.75%/yr for PWRD.
Performance
EXI vs. PWRD - Performance Comparison
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Returns By Period
In the year-to-date period, EXI achieves a 12.18% return, which is significantly lower than PWRD's 21.92% return.
EXI
- 1D
- -2.28%
- 1M
- 1.89%
- YTD
- 12.18%
- 6M
- 11.32%
- 1Y
- 23.77%
- 3Y*
- 20.42%
- 5Y*
- 11.94%
- 10Y*
- 13.04%
PWRD
- 1D
- -4.36%
- 1M
- 4.92%
- YTD
- 21.92%
- 6M
- 19.81%
- 1Y
- 36.33%
- 3Y*
- 33.16%
- 5Y*
- —
- 10Y*
- —
EXI vs. PWRD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EXI iShares Global Industrials ETF | 12.18% | 25.88% | 12.47% | 22.04% | -8.54% |
PWRD TCW Transform Systems ETF | 21.92% | 32.84% | 28.54% | 20.83% | -3.18% |
Correlation
The correlation between EXI and PWRD is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022 | 0.82 |
The correlation between EXI and PWRD has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
EXI vs. PWRD — Risk / Return Rank
EXI
PWRD
EXI vs. PWRD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Industrials ETF (EXI) 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.
| EXI | PWRD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.58 | -0.65 |
| Martin ratioReturn relative to average drawdown | 7.68 | 8.57 | -0.89 |
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Drawdowns
EXI vs. PWRD - Drawdown Comparison
The maximum EXI drawdown since its inception was -62.60%, which is greater than PWRD's maximum drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for EXI and PWRD.
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Drawdown Indicators
| EXI | PWRD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.60% | -25.87% | -36.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.35% | -14.12% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -14.38% | -25.87% | +11.49% |
Max Drawdown (5Y)Largest decline over 5 years | -27.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.56% | — | — |
Current DrawdownCurrent decline from peak | -2.28% | -4.36% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -5.07% | -4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 4.25% | -1.15% |
Volatility
EXI vs. PWRD - Volatility Comparison
The current volatility for iShares Global Industrials ETF (EXI) is 6.03%, while TCW Transform Systems ETF (PWRD) has a volatility of 10.84%. This indicates that EXI experiences smaller price fluctuations and is considered to be less risky than PWRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXI | PWRD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 10.84% | -4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 20.67% | -6.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.74% | 25.31% | -8.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 22.89% | -5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.36% | 22.89% | -4.53% |
EXI vs. PWRD - Expense Ratio Comparison
EXI has a 0.43% expense ratio, which is lower than PWRD's 0.75% expense ratio.
Dividends
EXI vs. PWRD - Dividend Comparison
EXI's dividend yield for the trailing twelve months is around 1.08%, while PWRD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXI iShares Global Industrials ETF | 1.08% | 1.32% | 1.47% | 1.84% | 1.63% | 1.42% | 1.26% | 1.72% | 2.21% | 1.48% | 1.75% | 1.95% |
PWRD TCW Transform Systems ETF | 0.00% | 0.22% | 0.49% | 0.78% | 0.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EXI and PWRD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWRD has higher volatility (10.84%) compared to EXI (6.03%). In terms of maximum drawdown, EXI dropped -62.60% vs PWRD's -25.87%.
On 3-year performance, PWRD leads with 33.16% vs 20.42% for EXI. On fees, EXI is cheaper at 0.43% per year. On volatility, EXI has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PWRD has performed better with a 33.16% return vs 20.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EXI is cheaper with a 0.43% expense ratio, compared with 0.75% for PWRD.
EXI has the higher dividend yield at 1.08%, compared with 0.00% for PWRD.
EXI is categorized as Industrials Equities, while PWRD is Energy Equities. They also come from different issuers: iShares and TCW. Their fees differ too: 0.43% for EXI and 0.75% for PWRD.
PWRD currently has the higher Sharpe Ratio (1.44 vs 1.43), 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.
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