KGRN vs. PWRD

Last updated Apr 2, 2026

Compare and contrast key facts about KraneShares MSCI China Clean Technology Index ETF (KGRN) and TCW Transform Systems ETF (PWRD).

KGRN and PWRD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KGRN is a passively managed fund by CICC that tracks the performance of the MSCI China IMI Environment 10/40 Index. It was launched on Oct 13, 2017. PWRD is an actively managed fund by TCW. It was launched on Feb 2, 2022.

Performance

KGRN vs. PWRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI China Clean Technology Index ETF (KGRN) and TCW Transform Systems ETF (PWRD). The values are adjusted to include any dividend payments, if applicable.

KGRN vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
KGRN KraneShares MSCI China Clean Technology Index ETF	6.26%	5.08%
PWRD TCW Transform Systems ETF	3.12%	7.66%

Returns By Period

In the year-to-date period, KGRN achieves a 6.26% return, which is significantly higher than PWRD's 3.12% return.

KGRN

• 1D: 0.23%
• 1M: 4.75%
• YTD: 6.26%
• 6M: -10.52%
• 1Y: 12.62%
• 3Y*: 1.14%
• 5Y*: -6.28%
• 10Y*: —

PWRD

• 1D: 1.43%
• 1M: -7.98%
• YTD: 3.12%
• 6M: 0.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KGRN vs. PWRD - Expense Ratio Comparison

KGRN has a 0.79% expense ratio, which is higher than PWRD's 0.75% expense ratio.

KGRN

KraneShares MSCI China Clean Technology Index ETF

PWRD

TCW Transform Systems ETF

Return for Risk

KGRN vs. PWRD — Risk / Return Rank

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

KGRN

KGRN Risk / Return Rank: 25
KGRN Sharpe Ratio Rank: 25
KGRN Sortino Ratio Rank: 26
KGRN Omega Ratio Rank: 25
KGRN Calmar Ratio Rank: 29
KGRN Martin Ratio Rank: 21

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.

KGRN vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI China Clean Technology Index ETF (KGRN) 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.

	KGRN	PWRD	Difference
Sharpe ratio Return per unit of total volatility	0.46	—	—
Sortino ratio Return per unit of downside risk	0.82	—	—
Omega ratio Gain probability vs. loss probability	1.11	—	—
Calmar ratio Return relative to maximum drawdown	0.73	—	—
Martin ratio Return relative to average drawdown	1.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KGRN	PWRD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.63	-0.53

Correlation

The correlation between KGRN and PWRD is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

KGRN vs. PWRD - Dividend Comparison

KGRN's dividend yield for the trailing twelve months is around 0.80%, while PWRD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KGRN KraneShares MSCI China Clean Technology Index ETF	0.80%	0.85%	1.49%	0.74%	1.98%	0.41%	0.01%	5.88%	2.04%
PWRD TCW Transform Systems ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

KGRN vs. PWRD - Drawdown Comparison

The maximum KGRN drawdown since its inception was -66.24%, which is greater than PWRD's maximum drawdown of -14.12%. Use the drawdown chart below to compare losses from any high point for KGRN and PWRD.

Drawdown Indicators

	KGRN	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-66.24%	-14.12%	-52.12%
Max Drawdown (1Y) Largest decline over 1 year	-17.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-63.60%	—	—
Current Drawdown Current decline from peak	-44.36%	-9.39%	-34.97%
Average Drawdown Average peak-to-trough decline	-33.73%	-3.31%	-30.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.20%	—	—

Volatility

Volatility by Period

	KGRN	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.60%	23.64%	+3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.83%	23.64%	+11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.05%	23.64%	+9.41%