PWRD vs. AIPO

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Transform Systems ETF (PWRD) and Defiance AI & Power Infrastructure ETF (AIPO).

PWRD and AIPO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWRD is an actively managed fund by TCW. It was launched on Feb 2, 2022. AIPO is a passively managed fund by Defiance that tracks the performance of the MarketVector™ US Listed AI and Power Infrastructure Index. It was launched on Jul 24, 2025.

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.

PWRD vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	1.67%	2.34%
AIPO Defiance AI & Power Infrastructure ETF	12.84%	8.68%

Returns By Period

In the year-to-date period, PWRD achieves a 1.67% return, which is significantly lower than AIPO's 12.84% return.

PWRD

• 1D: 4.03%
• 1M: -9.38%
• YTD: 1.67%
• 6M: 0.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: 4.70%
• 1M: -4.73%
• YTD: 12.84%
• 6M: 10.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. AIPO - Expense Ratio Comparison

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

PWRD

TCW Transform Systems ETF

AIPO

Defiance AI & Power Infrastructure ETF

Return for Risk

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PWRD	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.03	-0.49

Correlation

The correlation between PWRD and AIPO is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PWRD vs. AIPO - Dividend Comparison

PWRD has not paid dividends to shareholders, while AIPO's dividend yield for the trailing twelve months is around 0.01%.

	TTM	2025
PWRD TCW Transform Systems ETF	0.00%	0.00%
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%

Drawdowns

PWRD vs. AIPO - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, smaller than the maximum AIPO 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	-14.12%	-17.31%	+3.19%
Current Drawdown Current decline from peak	-10.66%	-7.04%	-3.62%
Average Drawdown Average peak-to-trough decline	-3.28%	-5.03%	+1.75%

Volatility

Volatility by Period

	PWRD	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.65%	34.05%	-10.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.65%	34.05%	-10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	34.05%	-10.40%