MUSE vs. GRW

Last updated Jun 3, 2026

MUSE (TCW Multisector Credit Income ETF) and GRW (TCW Durable Growth ETF) are both exchange-traded funds - MUSE is a Multisector Bonds fund actively managed by TCW, while GRW is a Large Cap Growth Equities fund actively managed by TCW. Both are actively managed. A 0.50 correlation means they provide meaningful diversification when combined. MUSE charges 0.56%/yr vs 0.75%/yr for GRW.

Performance

MUSE vs. GRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Multisector Credit Income ETF (MUSE) and TCW Durable Growth ETF (GRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUSE

• 1D: 0.08%
• 1M: 0.95%
• YTD: 2.40%
• 6M: 3.02%
• 1Y: 8.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRW

• 1D: -0.13%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUSE vs. GRW - Yearly Performance Comparison

	2026 (YTD)
MUSE TCW Multisector Credit Income ETF	0.25%
GRW TCW Durable Growth ETF	1.61%

Correlation

The correlation between MUSE and GRW is 0.50, 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 May 29, 2026	0.50

Return for Risk

MUSE vs. GRW — Risk / Return Rank

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

MUSE

MUSE Risk / Return Rank: 81
MUSE Sharpe Ratio Rank: 88
MUSE Sortino Ratio Rank: 93
MUSE Omega Ratio Rank: 94
MUSE Calmar Ratio Rank: 65
MUSE Martin Ratio Rank: 66

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.

MUSE vs. GRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Multisector Credit Income ETF (MUSE) and TCW Durable Growth ETF (GRW). 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.

	MUSE	GRW	Difference
Sharpe ratio Return per unit of total volatility	3.00	—	—
Sortino ratio Return per unit of downside risk	4.76	—	—
Omega ratio Gain probability vs. loss probability	1.71	—	—
Calmar ratio Return relative to maximum drawdown	3.29	—	—
Martin ratio Return relative to average drawdown	12.25	—	—
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

	MUSE	GRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.88	37.56	-35.68

Drawdowns

MUSE vs. GRW - Drawdown Comparison

The maximum MUSE drawdown since its inception was -3.63%, which is greater than GRW's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for MUSE and GRW.

Drawdown Indicators

	MUSE	GRW	Difference
Max Drawdown Largest peak-to-trough decline	-3.63%	-0.13%	-3.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	—	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.43%	-0.04%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	—	—

Volatility

Volatility by Period

	MUSE	GRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	9.26%	-6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	9.26%	-5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	9.26%	-5.39%

MUSE vs. GRW - Expense Ratio Comparison

MUSE has a 0.56% expense ratio, which is lower than GRW's 0.75% expense ratio.

Dividends

MUSE vs. GRW - Dividend Comparison

MUSE's dividend yield for the trailing twelve months is around 7.69%, while GRW has not paid dividends to shareholders.

Position	TTM	2025	2024
GRW TCW Durable Growth ETF	0.00%	0.00%	0.00%
MUSE TCW Multisector Credit Income ETF	7.69%	7.35%	0.75%

Frequently Asked Questions

Can I hold both MUSE and GRW in my portfolio?

MUSE and GRW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUSE or GRW?

On fees, MUSE is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUSE or GRW?

MUSE is cheaper with a 0.56% expense ratio, compared with 0.75% for GRW.

Which ETF pays a higher dividend yield, MUSE or GRW?

MUSE has the higher dividend yield at 7.69%, compared with 0.00% for GRW.

What is the main difference between MUSE and GRW?

MUSE is categorized as Multisector Bonds, while GRW is Large Cap Growth Equities. Their fees differ too: 0.56% for MUSE and 0.75% for GRW.