PWRD vs. BESF

Last updated Jun 24, 2026

PWRD (TCW Transform Systems ETF) and BESF (Bastion Energy ETF) are both Energy Equities funds. Both are actively managed. Over the past year, PWRD returned 36.33% vs 61.61% for BESF. At a 0.17 correlation, their price movements are largely independent. PWRD charges 0.75%/yr vs 0.80%/yr for BESF.

Performance

PWRD vs. BESF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and Bastion Energy ETF (BESF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWRD achieves a 21.92% return, which is significantly higher than BESF's 16.12% return.

PWRD

• 1D: -4.36%
• 1M: 4.92%
• YTD: 21.92%
• 6M: 19.81%
• 1Y: 36.33%
• 3Y*: 33.16%
• 5Y*: —
• 10Y*: —

BESF

• 1D: 1.01%
• 1M: -6.28%
• YTD: 16.12%
• 6M: 15.17%
• 1Y: 61.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. BESF - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	21.92%	14.00%
BESF Bastion Energy ETF	16.12%	38.76%

Correlation

The correlation between PWRD and BESF is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.17

Return for Risk

PWRD vs. BESF — Risk / Return Rank

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

PWRD

PWRD Risk / Return Rank: 46
PWRD Sharpe Ratio Rank: 43
PWRD Sortino Ratio Rank: 41
PWRD Omega Ratio Rank: 40
PWRD Calmar Ratio Rank: 55
PWRD Martin Ratio Rank: 52

BESF

BESF Risk / Return Rank: 84
BESF Sharpe Ratio Rank: 86
BESF Sortino Ratio Rank: 83
BESF Omega Ratio Rank: 77
BESF Calmar Ratio Rank: 92
BESF Martin Ratio Rank: 83

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. BESF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Bastion Energy ETF (BESF). 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	BESF	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.52	-1.07
Sortino ratio: Return per unit of downside risk	1.99	3.34	-1.36
Omega ratio: Gain probability vs. loss probability	1.25	1.41	-0.16
Calmar ratio: Return relative to maximum drawdown	2.58	5.64	-3.06
Martin ratio: Return relative to average drawdown	8.57	15.57	-7.01

PWRD vs. BESF - Sharpe Ratio Comparison

The current PWRD Sharpe Ratio is 1.44, which is lower than the BESF Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PWRD and BESF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PWRD vs. BESF - Drawdown Comparison

The maximum PWRD drawdown since its inception was -25.87%, which is greater than BESF's maximum drawdown of -10.97%. Use the drawdown chart below to compare losses from any high point for PWRD and BESF.

Drawdown Indicators

	PWRD	BESF	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-10.97%	-14.90%
Max Drawdown (1Y) Largest decline over 1 year	-14.12%	-10.97%	-3.15%
Max Drawdown (3Y) Largest decline over 3 years	-25.87%	—	—
Current Drawdown Current decline from peak	-4.36%	-8.73%	+4.37%
Average Drawdown Average peak-to-trough decline	-5.07%	-2.74%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	3.97%	+0.28%

Volatility

PWRD vs. BESF - Volatility Comparison

TCW Transform Systems ETF (PWRD) has a higher volatility of 10.84% compared to Bastion Energy ETF (BESF) at 6.97%. This indicates that PWRD's price experiences larger fluctuations and is considered to be riskier than BESF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWRD	BESF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.84%	6.97%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	20.67%	14.93%	+5.74%
Volatility (1Y) Calculated over the trailing 1-year period	25.31%	24.75%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	24.39%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.89%	24.39%	-1.50%

PWRD vs. BESF - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is lower than BESF's 0.80% expense ratio.

Dividends

PWRD vs. BESF - Dividend Comparison

PWRD has not paid dividends to shareholders, while BESF's dividend yield for the trailing twelve months is around 5.86%.

Position	TTM	2025	2024	2023	2022
BESF Bastion Energy ETF	5.86%	6.39%	0.00%	0.00%	0.00%
PWRD TCW Transform Systems ETF	0.00%	0.22%	0.49%	0.78%	0.91%

Frequently Asked Questions

Can I hold both PWRD and BESF in my portfolio?

PWRD and BESF have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWRD or BESF?

PWRD has higher volatility (10.84%) compared to BESF (6.97%). In terms of maximum drawdown, PWRD dropped -25.87% vs BESF's -10.97%.

Which ETF is better, PWRD or BESF?

On 1-year performance, BESF leads with 61.61% vs 36.33% for PWRD. On fees, PWRD is cheaper at 0.75% per year. On volatility, BESF has been the lower-risk option at 6.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWRD or BESF?

Over the 1-year period, BESF has performed better with a 61.61% return vs 36.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWRD or BESF?

PWRD is cheaper with a 0.75% expense ratio, compared with 0.80% for BESF.

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

BESF has the higher dividend yield at 5.86%, compared with 0.00% for PWRD.

What is the main difference between PWRD and BESF?

They also come from different issuers: TCW and Bastion. Their fees differ too: 0.75% for PWRD and 0.80% for BESF.

Which has better risk-adjusted returns?

BESF currently has the higher Sharpe Ratio (2.52 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.