IGCB vs. PWRD

Last updated Jun 23, 2026

IGCB (TCW Corporate Bond ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - IGCB is a Corporate Bonds fund tracking the Actively Managed, while PWRD is a Energy Equities fund actively managed by TCW. IGCB is passively managed, while PWRD is actively managed. At a 0.26 correlation, their price movements are largely independent. IGCB charges 0.35%/yr vs 0.75%/yr for PWRD.

Performance

IGCB vs. PWRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Corporate Bond ETF (IGCB) 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, IGCB achieves a 0.16% return, which is significantly lower than PWRD's 27.47% return.

IGCB

• 1D: -0.25%
• 1M: 0.59%
• YTD: 0.16%
• 6M: 0.45%
• 1Y: 4.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWRD

• 1D: 1.93%
• 1M: 9.69%
• YTD: 27.47%
• 6M: 25.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGCB vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
IGCB TCW Corporate Bond ETF	0.16%	3.69%
PWRD TCW Transform Systems ETF	27.47%	7.81%

Correlation

The correlation between IGCB and PWRD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.26

Return for Risk

IGCB vs. PWRD — Risk / Return Rank

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

IGCB

IGCB Risk / Return Rank: 33
IGCB Sharpe Ratio Rank: 35
IGCB Sortino Ratio Rank: 33
IGCB Omega Ratio Rank: 33
IGCB Calmar Ratio Rank: 33
IGCB Martin Ratio Rank: 33

PWRD

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.

IGCB vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Corporate Bond ETF (IGCB) 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.

	IGCB	PWRD	Difference
Sharpe ratio: Return per unit of total volatility	1.20	—	—
Sortino ratio: Return per unit of downside risk	1.72	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.59	—	—
Martin ratio: Return relative to average drawdown	4.70	—	—

Drawdowns

IGCB vs. PWRD - Drawdown Comparison

The maximum IGCB drawdown since its inception was -4.20%, smaller than the maximum PWRD drawdown of -14.12%. Use the drawdown chart below to compare losses from any high point for IGCB and PWRD.

Drawdown Indicators

	IGCB	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-4.20%	-14.12%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	—	—
Current Drawdown Current decline from peak	-1.23%	0.00%	-1.23%
Average Drawdown Average peak-to-trough decline	-0.93%	-3.12%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	—	—

Volatility

Volatility by Period

	IGCB	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	25.04%	-21.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.79%	25.04%	-20.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	25.04%	-20.25%

IGCB vs. PWRD - Expense Ratio Comparison

IGCB has a 0.35% expense ratio, which is lower than PWRD's 0.75% expense ratio.

Dividends

IGCB vs. PWRD - Dividend Comparison

IGCB's dividend yield for the trailing twelve months is around 4.75%, while PWRD has not paid dividends to shareholders.

Position	TTM	2025	2024
IGCB TCW Corporate Bond ETF	4.75%	4.52%	0.66%
PWRD TCW Transform Systems ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGCB and PWRD in my portfolio?

IGCB and PWRD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IGCB or PWRD?

On fees, IGCB is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGCB or PWRD?

IGCB is cheaper with a 0.35% expense ratio, compared with 0.75% for PWRD.

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

IGCB has the higher dividend yield at 4.75%, compared with 0.00% for PWRD.

What is the main difference between IGCB and PWRD?

IGCB is categorized as Corporate Bonds, while PWRD is Energy Equities. Their fees differ too: 0.35% for IGCB and 0.75% for PWRD.