PWRD vs. AIPO

Last updated Jul 14, 2026

PWRD (TCW Transform Systems ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. PWRD is actively managed, while AIPO is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. PWRD charges 0.75%/yr vs 0.69%/yr for AIPO.

Performance

PWRD vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWRD achieves a 17.32% return, which is significantly lower than AIPO's 36.75% return.

PWRD

• 1D: -2.11%
• 1M: -0.92%
• 6M: 12.50%
• YTD: 17.32%
• 1Y: 26.01%
• 3Y*: 29.54%
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -3.14%
• 1M: -3.82%
• 6M: 27.85%
• YTD: 36.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	17.32%	3.09%
AIPO Defiance AI & Power Infrastructure ETF	36.75%	9.46%

Correlation

The correlation between PWRD and AIPO is 0.92, 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 Jul 25, 2025	0.92

Return for Risk

PWRD vs. AIPO — Risk / Return Rank

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

PWRD

PWRD Risk / Return Rank: 38
PWRD Sharpe Ratio Rank: 34
PWRD Sortino Ratio Rank: 32
PWRD Omega Ratio Rank: 33
PWRD Calmar Ratio Rank: 46
PWRD Martin Ratio Rank: 45

AIPO

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.

PWRD vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	PWRD	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	0.98	—	—
Sortino ratio: Return per unit of downside risk	1.44	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.85	—	—
Martin ratio: Return relative to average drawdown	5.89	—	—

Drawdowns

PWRD vs. AIPO - Drawdown Comparison

The maximum PWRD drawdown since its inception was -25.87%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for PWRD and AIPO.

Drawdown Indicators

	PWRD	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-17.31%	-8.56%
Max Drawdown (1Y) Largest decline over 1 year	-14.12%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.87%	—	—
Current Drawdown Current decline from peak	-8.30%	-13.00%	+4.70%
Average Drawdown Average peak-to-trough decline	-5.07%	-4.66%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.42%	—	—

Volatility

Volatility by Period

	PWRD	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.76%	36.01%	-9.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.21%	36.01%	-12.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.21%	36.01%	-12.80%

PWRD vs. AIPO - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

PWRD vs. AIPO - Dividend Comparison

PWRD's dividend yield for the trailing twelve months is around 0.05%, more than AIPO's 0.01% yield.

Position	TTM	2025	2024	2023	2022
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%
PWRD TCW Transform Systems ETF	0.05%	0.22%	0.49%	0.78%	0.91%

Frequently Asked Questions

Can I hold both PWRD and AIPO in my portfolio?

With a correlation of 0.92, PWRD and AIPO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, PWRD or AIPO?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 0.75% for PWRD.

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

PWRD has the higher dividend yield at 0.05%, compared with 0.01% for AIPO.

What is the main difference between PWRD and AIPO?

PWRD is categorized as Energy Equities, while AIPO is Building & Construction. They also come from different issuers: TCW and Defiance. Their fees differ too: 0.75% for PWRD and 0.69% for AIPO.