PWRD vs. DRAM

Last updated Jul 21, 2026

PWRD (TCW Transform Systems ETF) and DRAM (Roundhill Memory ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while DRAM is a Technology Equities fund actively managed by Roundhill. Both are actively managed. A 0.72 correlation means they provide meaningful diversification when combined. PWRD charges 0.75%/yr vs 0.65%/yr for DRAM.

Performance

PWRD vs. DRAM - Performance Comparison

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

Returns By Period

PWRD

• 1D: -0.49%
• 1M: -9.05%
• 6M: 7.80%
• YTD: 13.74%
• 1Y: 19.09%
• 3Y*: 27.96%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.22%

DRAM

• 1D: 0.64%
• 1M: -30.83%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

PWRD vs. DRAM - Yearly Performance Comparison

	2026 (YTD)
PWRD TCW Transform Systems ETF	10.29%
DRAM Roundhill Memory ETF	96.52%

Correlation

The correlation between PWRD and DRAM is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 2, 2026	0.72

Return for Risk

PWRD vs. DRAM — Risk / Return Rank

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

PWRD

PWRD Risk / Return Rank: 30
PWRD Sharpe Ratio Rank: 26
PWRD Sortino Ratio Rank: 26
PWRD Omega Ratio Rank: 26
PWRD Calmar Ratio Rank: 35
PWRD Martin Ratio Rank: 36

DRAM

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. DRAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Roundhill Memory ETF (DRAM). 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	DRAM	Difference
Sharpe ratio: Return per unit of total volatility	0.71	—	—
Sortino ratio: Return per unit of downside risk	1.12	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.36	—	—
Martin ratio: Return relative to average drawdown	4.14	—	—

Drawdowns

PWRD vs. DRAM - Drawdown Comparison

The maximum PWRD drawdown since its inception was -25.87%, smaller than the maximum DRAM drawdown of -35.16%. Use the drawdown chart below to compare losses from any high point for PWRD and DRAM.

Drawdown Indicators

	PWRD	DRAM	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-35.16%	+9.29%
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	-11.10%	-34.27%	+23.17%
Average Drawdown Average peak-to-trough decline	-5.09%	-7.58%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	—	—

Volatility

Volatility by Period

	PWRD	DRAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.90%	96.38%	-69.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.22%	96.38%	-73.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	96.38%	-73.16%

PWRD vs. DRAM - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than DRAM's 0.65% expense ratio.

Dividends

PWRD vs. DRAM - Dividend Comparison

PWRD's dividend yield for the trailing twelve months is around 0.06%, while DRAM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DRAM Roundhill Memory ETF	0.00%	0.00%	0.00%	0.00%	0.00%
PWRD TCW Transform Systems ETF	0.06%	0.22%	0.49%	0.78%	0.91%

Frequently Asked Questions

Can I hold both PWRD and DRAM in my portfolio?

PWRD and DRAM have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PWRD or DRAM?

On fees, DRAM is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or DRAM?

DRAM is cheaper with a 0.65% expense ratio, compared with 0.75% for PWRD.

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

PWRD has the higher dividend yield at 0.06%, compared with 0.00% for DRAM.

What is the main difference between PWRD and DRAM?

PWRD is categorized as Energy Equities, while DRAM is Technology Equities. They also come from different issuers: TCW and Roundhill. Their fees differ too: 0.75% for PWRD and 0.65% for DRAM.