PWRD vs. IDEQ

Last updated Jun 9, 2026

PWRD (TCW Transform Systems ETF) and IDEQ (Lazard International Dynamic Equity ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while IDEQ is a Foreign Large Cap Equities fund actively managed by Lazard. Both are actively managed. A 0.71 correlation means they provide meaningful diversification when combined. PWRD charges 0.75%/yr vs 0.40%/yr for IDEQ.

Performance

PWRD vs. IDEQ - Performance Comparison

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

Returns By Period

In the year-to-date period, PWRD achieves a 15.73% return, which is significantly higher than IDEQ's 13.67% return.

PWRD

• 1D: 0.94%
• 1M: -0.53%
• YTD: 15.73%
• 6M: 13.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDEQ

• 1D: 1.29%
• 1M: -1.82%
• YTD: 13.67%
• 6M: 17.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. IDEQ - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	15.73%	5.03%
IDEQ Lazard International Dynamic Equity ETF	13.67%	11.77%

Correlation

The correlation between PWRD and IDEQ is 0.71, 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 Sep 2, 2025	0.71

Return for Risk

PWRD vs. IDEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Lazard International Dynamic Equity ETF (IDEQ). 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	IDEQ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.94	-0.86

Drawdowns

PWRD vs. IDEQ - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, which is greater than IDEQ's maximum drawdown of -12.95%. Use the drawdown chart below to compare losses from any high point for PWRD and IDEQ.

Drawdown Indicators

	PWRD	IDEQ	Difference
Max Drawdown Largest peak-to-trough decline	-14.12%	-12.95%	-1.17%
Current Drawdown Current decline from peak	-4.12%	-3.42%	-0.70%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.11%	-1.06%

Volatility

Volatility by Period

	PWRD	IDEQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	18.93%	+5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.34%	18.93%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.34%	18.93%	+5.41%

PWRD vs. IDEQ - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than IDEQ's 0.40% expense ratio.

Dividends

PWRD vs. IDEQ - Dividend Comparison

PWRD has not paid dividends to shareholders, while IDEQ's dividend yield for the trailing twelve months is around 0.53%.

Position	TTM	2025
IDEQ Lazard International Dynamic Equity ETF	0.53%	0.60%
PWRD TCW Transform Systems ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both PWRD and IDEQ in my portfolio?

PWRD and IDEQ have a correlation of 0.71, 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 IDEQ?

On fees, IDEQ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or IDEQ?

IDEQ is cheaper with a 0.40% expense ratio, compared with 0.75% for PWRD.

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

IDEQ has the higher dividend yield at 0.53%, compared with 0.00% for PWRD.

What is the main difference between PWRD and IDEQ?

PWRD is categorized as Energy Equities, while IDEQ is Foreign Large Cap Equities. They also come from different issuers: TCW and Lazard. Their fees differ too: 0.75% for PWRD and 0.40% for IDEQ.