PWRD vs. GRID
PWRD (TCW Transform Systems ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. PWRD is actively managed, while GRID is passively managed. Over the past 3 years, PWRD returned 33.16%/yr vs 24.21%/yr for GRID. Their correlation of 0.85 suggests significant overlap in exposure. PWRD charges 0.75%/yr vs 0.70%/yr for GRID.
Performance
PWRD vs. GRID - Performance Comparison
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Returns By Period
In the year-to-date period, PWRD achieves a 21.92% return, which is significantly lower than GRID's 23.40% return.
PWRD
- 1D
- -4.36%
- 1M
- 4.92%
- YTD
- 21.92%
- 6M
- 19.81%
- 1Y
- 36.33%
- 3Y*
- 33.16%
- 5Y*
- —
- 10Y*
- —
GRID
- 1D
- -4.46%
- 1M
- -1.96%
- YTD
- 23.40%
- 6M
- 22.11%
- 1Y
- 42.41%
- 3Y*
- 24.21%
- 5Y*
- 16.63%
- 10Y*
- 19.95%
PWRD vs. GRID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PWRD TCW Transform Systems ETF | 21.92% | 32.84% | 28.54% | 20.83% | -3.18% |
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 23.40% | 29.65% | 15.18% | 21.57% | -5.64% |
Correlation
The correlation between PWRD and GRID is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022 | 0.85 |
The correlation between PWRD and GRID has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.
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Return for Risk
PWRD vs. GRID — Risk / Return Rank
PWRD
GRID
PWRD vs. GRID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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 | GRID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.35 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.63 | -1.05 |
| Martin ratioReturn relative to average drawdown | 8.57 | 12.92 | -4.35 |
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Drawdowns
PWRD vs. GRID - Drawdown Comparison
The maximum PWRD drawdown since its inception was -25.87%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for PWRD and GRID.
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Drawdown Indicators
| PWRD | GRID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.87% | -40.56% | +14.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.12% | -11.73% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -25.87% | -20.77% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.56% | — |
Current DrawdownCurrent decline from peak | -4.36% | -5.55% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -5.07% | -8.42% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.25% | 3.29% | +0.96% |
Volatility
PWRD vs. GRID - Volatility Comparison
TCW Transform Systems ETF (PWRD) has a higher volatility of 10.84% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 10.12%. This indicates that PWRD's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWRD | GRID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 10.12% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 20.67% | 18.23% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.31% | 21.26% | +4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 21.37% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.89% | 22.80% | +0.09% |
PWRD vs. GRID - Expense Ratio Comparison
PWRD has a 0.75% expense ratio, which is higher than GRID's 0.70% expense ratio.
Dividends
PWRD vs. GRID - Dividend Comparison
PWRD has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 0.80% | 1.01% | 1.06% | 1.23% | 1.26% | 0.63% | 0.68% | 1.26% | 1.28% | 1.07% | 1.07% | 1.23% |
PWRD TCW Transform Systems ETF | 0.00% | 0.22% | 0.49% | 0.78% | 0.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PWRD and GRID have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWRD has higher volatility (10.84%) compared to GRID (10.12%). In terms of maximum drawdown, PWRD dropped -25.87% vs GRID's -40.56%.
On 3-year performance, PWRD leads with 33.16% vs 24.21% for GRID. On fees, GRID is cheaper at 0.70% per year. On volatility, GRID has been the lower-risk option at 10.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PWRD has performed better with a 33.16% return vs 24.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GRID is cheaper with a 0.70% expense ratio, compared with 0.75% for PWRD.
GRID has the higher dividend yield at 0.80%, compared with 0.00% for PWRD.
PWRD is categorized as Energy Equities, while GRID is Alternative Energy Equities. They also come from different issuers: TCW and First Trust. Their fees differ too: 0.75% for PWRD and 0.70% for GRID.
GRID currently has the higher Sharpe Ratio (2.01 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.
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