PGRO vs. GRW

Last updated Jun 4, 2026

PGRO (Putnam Focused Large Cap Growth ETF) and GRW (TCW Durable Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. PGRO charges 0.55%/yr vs 0.75%/yr for GRW.

Performance

PGRO vs. GRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused Large Cap Growth ETF (PGRO) and TCW Durable Growth ETF (GRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PGRO

• 1D: -0.97%
• 1M: 6.31%
• YTD: 9.11%
• 6M: 8.47%
• 1Y: 25.32%
• 3Y*: 24.74%
• 5Y*: 14.11%
• 10Y*: —

GRW

• 1D: -0.32%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGRO vs. GRW - Yearly Performance Comparison

	2026 (YTD)
PGRO Putnam Focused Large Cap Growth ETF	-0.14%
GRW TCW Durable Growth ETF	1.29%

Correlation

The correlation between PGRO and GRW is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.80

PGRO vs. GRW - Sectors Allocation Comparison

Sectors	PGRO	GRW
Technology	49.5%	26.6%
Communication Services	14.3%	9.1%
Consumer Cyclical	10.4%	8.3%
Industrials	7.1%	38.1%
Healthcare	7.1%	4.1%
Financial Services	5.4%	9.8%
Consumer Defensive	2.7%	-
Basic Materials	2.5%	4.0%
Utilities	1.1%	-
Real Estate	0.9%	-
Energy	-	-

Return for Risk

PGRO vs. GRW — Risk / Return Rank

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

PGRO

PGRO Risk / Return Rank: 39
PGRO Sharpe Ratio Rank: 45
PGRO Sortino Ratio Rank: 44
PGRO Omega Ratio Rank: 43
PGRO Calmar Ratio Rank: 32
PGRO Martin Ratio Rank: 34

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.

PGRO vs. GRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Growth ETF (PGRO) 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.

	PGRO	GRW	Difference
Sharpe ratio Return per unit of total volatility	1.58	—	—
Sortino ratio Return per unit of downside risk	2.20	—	—
Omega ratio Gain probability vs. loss probability	1.28	—	—
Calmar ratio Return relative to maximum drawdown	1.56	—	—
Martin ratio Return relative to average drawdown	5.12	—	—
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

	PGRO	GRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	14.00	-13.34

Drawdowns

PGRO vs. GRW - Drawdown Comparison

The maximum PGRO drawdown since its inception was -34.73%, which is greater than GRW's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for PGRO and GRW.

Drawdown Indicators

	PGRO	GRW	Difference
Max Drawdown Largest peak-to-trough decline	-34.73%	-0.45%	-34.28%
Max Drawdown (1Y) Largest decline over 1 year	-16.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.73%	—	—
Current Drawdown Current decline from peak	-1.07%	-0.45%	-0.62%
Average Drawdown Average peak-to-trough decline	-10.27%	-0.14%	-10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	—	—

Volatility

Volatility by Period

	PGRO	GRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	10.19%	+5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	10.19%	+11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	10.19%	+11.58%

PGRO vs. GRW - Expense Ratio Comparison

PGRO has a 0.55% expense ratio, which is lower than GRW's 0.75% expense ratio.

Dividends

PGRO vs. GRW - Dividend Comparison

PGRO's dividend yield for the trailing twelve months is around 0.02%, while GRW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GRW TCW Durable Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%
PGRO Putnam Focused Large Cap Growth ETF	0.02%	0.02%	0.08%	0.19%	0.12%

Frequently Asked Questions

Can I hold both PGRO and GRW in my portfolio?

PGRO and GRW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PGRO or GRW?

On fees, PGRO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PGRO or GRW?

PGRO is cheaper with a 0.55% expense ratio, compared with 0.75% for GRW.

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

PGRO has the higher dividend yield at 0.02%, compared with 0.00% for GRW.

What is the main difference between PGRO and GRW?

They also come from different issuers: Power Corporation of Canada and TCW. Their fees differ too: 0.55% for PGRO and 0.75% for GRW.