HWAY vs. POW

Last updated Jul 15, 2026

HWAY (Themes US Infrastructure ETF) and POW (VistaShares Electrification Supercycle ETF) are both exchange-traded funds - HWAY is a Industrials Equities fund tracking the Solactive United States Infrastructure Index, while POW is a Actively Managed fund actively managed by VistaShares. HWAY is passively managed, while POW is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. HWAY charges 0.29%/yr vs 0.75%/yr for POW.

Performance

HWAY vs. POW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US Infrastructure ETF (HWAY) and VistaShares Electrification Supercycle ETF (POW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWAY achieves a 21.58% return, which is significantly lower than POW's 41.57% return.

HWAY

• 1D: 0.53%
• 1M: -1.88%
• 6M: 14.20%
• YTD: 21.58%
• 1Y: 31.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

POW

• 1D: 1.90%
• 1M: -7.03%
• 6M: 34.18%
• YTD: 41.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HWAY vs. POW - Yearly Performance Comparison

	2026 (YTD)	2025
HWAY Themes US Infrastructure ETF	21.58%	0.31%
POW VistaShares Electrification Supercycle ETF	41.57%	-1.70%

Correlation

The correlation between HWAY and POW is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.65

Return for Risk

HWAY vs. POW — Risk / Return Rank

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

HWAY

HWAY Risk / Return Rank: 58
HWAY Sharpe Ratio Rank: 56
HWAY Sortino Ratio Rank: 58
HWAY Omega Ratio Rank: 51
HWAY Calmar Ratio Rank: 63
HWAY Martin Ratio Rank: 63

POW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HWAY vs. POW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US Infrastructure ETF (HWAY) and VistaShares Electrification Supercycle ETF (POW). 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.

	HWAY	POW	Difference
Sharpe ratio: Return per unit of total volatility	1.53	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	8.81	—	—

Drawdowns

HWAY vs. POW - Drawdown Comparison

The maximum HWAY drawdown since its inception was -25.96%, which is greater than POW's maximum drawdown of -18.37%. Use the drawdown chart below to compare losses from any high point for HWAY and POW.

Drawdown Indicators

	HWAY	POW	Difference
Max Drawdown Largest peak-to-trough decline	-25.96%	-18.37%	-7.59%
Max Drawdown (1Y) Largest decline over 1 year	-12.63%	—	—
Current Drawdown Current decline from peak	-5.63%	-16.82%	+11.19%
Average Drawdown Average peak-to-trough decline	-5.20%	-4.40%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	—	—

Volatility

Volatility by Period

	HWAY	POW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.60%	32.91%	-12.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.41%	32.91%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	32.91%	-10.50%

HWAY vs. POW - Expense Ratio Comparison

HWAY has a 0.29% expense ratio, which is lower than POW's 0.75% expense ratio.

Dividends

HWAY vs. POW - Dividend Comparison

HWAY's dividend yield for the trailing twelve months is around 1.06%, more than POW's 0.14% yield.

Position	TTM	2025	2024
HWAY Themes US Infrastructure ETF	1.06%	1.29%	0.22%
POW VistaShares Electrification Supercycle ETF	0.14%	0.19%	0.00%

Frequently Asked Questions

Can I hold both HWAY and POW in my portfolio?

HWAY and POW have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HWAY or POW?

On fees, HWAY is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HWAY or POW?

HWAY is cheaper with a 0.29% expense ratio, compared with 0.75% for POW.

Which ETF pays a higher dividend yield, HWAY or POW?

HWAY has the higher dividend yield at 1.06%, compared with 0.14% for POW.

What is the main difference between HWAY and POW?

HWAY is categorized as Industrials Equities, while POW is Actively Managed. They also come from different issuers: Themes and VistaShares. Their fees differ too: 0.29% for HWAY and 0.75% for POW.