PWER vs. STAX

Last updated Apr 3, 2026

Compare and contrast key facts about Macquarie Energy Transition ETF (PWER) and Macquarie Tax-Free USA Short Term ETF (STAX).

PWER and STAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWER is an actively managed fund by Macquarie. It was launched on Nov 28, 2023. STAX is an actively managed fund by Macquarie. It was launched on Nov 28, 2023.

Performance

PWER vs. STAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macquarie Energy Transition ETF (PWER) and Macquarie Tax-Free USA Short Term ETF (STAX). The values are adjusted to include any dividend payments, if applicable.

PWER vs. STAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PWER Macquarie Energy Transition ETF	16.14%	35.28%	-3.50%	9.72%
STAX Macquarie Tax-Free USA Short Term ETF	0.66%	4.12%	2.55%	1.45%

Returns By Period

In the year-to-date period, PWER achieves a 16.14% return, which is significantly higher than STAX's 0.66% return.

PWER

• 1D: -0.17%
• 1M: 0.58%
• YTD: 16.14%
• 6M: 23.78%
• 1Y: 59.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

STAX

• 1D: 0.08%
• 1M: -0.51%
• YTD: 0.66%
• 6M: 1.16%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWER vs. STAX - Expense Ratio Comparison

PWER has a 0.80% expense ratio, which is higher than STAX's 0.29% expense ratio.

PWER

Macquarie Energy Transition ETF

STAX

Macquarie Tax-Free USA Short Term ETF

Return for Risk

PWER vs. STAX — Risk / Return Rank

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

PWER

PWER Risk / Return Rank: 93
PWER Sharpe Ratio Rank: 94
PWER Sortino Ratio Rank: 93
PWER Omega Ratio Rank: 93
PWER Calmar Ratio Rank: 89
PWER Martin Ratio Rank: 94

STAX

STAX Risk / Return Rank: 89
STAX Sharpe Ratio Rank: 96
STAX Sortino Ratio Rank: 96
STAX Omega Ratio Rank: 98
STAX Calmar Ratio Rank: 78
STAX Martin Ratio Rank: 75

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.

PWER vs. STAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Energy Transition ETF (PWER) and Macquarie Tax-Free USA Short Term ETF (STAX). 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.

	PWER	STAX	Difference
Sharpe ratio Return per unit of total volatility	2.37	2.71	-0.33
Sortino ratio Return per unit of downside risk	2.92	3.53	-0.61
Omega ratio Gain probability vs. loss probability	1.44	1.73	-0.29
Calmar ratio Return relative to maximum drawdown	3.55	2.66	+0.89
Martin ratio Return relative to average drawdown	17.34	9.59	+7.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWER vs. STAX - Sharpe Ratio Comparison

The current PWER Sharpe Ratio is 2.37, which is comparable to the STAX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of PWER and STAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PWER	STAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.71	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	2.70	-1.67

Correlation

The correlation between PWER and STAX is 0.06, 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

PWER vs. STAX - Dividend Comparison

PWER's dividend yield for the trailing twelve months is around 1.18%, less than STAX's 3.21% yield.

	TTM	2025	2024	2023
PWER Macquarie Energy Transition ETF	1.18%	1.37%	1.05%	0.06%
STAX Macquarie Tax-Free USA Short Term ETF	3.21%	3.16%	3.43%	0.00%

Drawdowns

PWER vs. STAX - Drawdown Comparison

The maximum PWER drawdown since its inception was -29.68%, which is greater than STAX's maximum drawdown of -1.42%. Use the drawdown chart below to compare losses from any high point for PWER and STAX.

Drawdown Indicators

	PWER	STAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.68%	-1.42%	-28.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.01%	-1.42%	-10.59%
Current Drawdown Current decline from peak	-2.51%	-0.70%	-1.81%
Average Drawdown Average peak-to-trough decline	-6.59%	-0.21%	-6.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	0.39%	+3.15%

Volatility

PWER vs. STAX - Volatility Comparison

Macquarie Energy Transition ETF (PWER) has a higher volatility of 6.96% compared to Macquarie Tax-Free USA Short Term ETF (STAX) at 0.52%. This indicates that PWER's price experiences larger fluctuations and is considered to be riskier than STAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWER	STAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	0.52%	+6.44%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	0.71%	+15.82%
Volatility (1Y) Calculated over the trailing 1-year period	25.19%	1.43%	+23.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.69%	1.40%	+22.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	1.40%	+22.29%