PWRD vs. PBOG

Last updated Jul 17, 2026

PWRD (TCW Transform Systems ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both Energy Equities funds. PWRD is actively managed, while PBOG is passively managed. At a correlation of -0.13, they often move in opposite directions. PWRD charges 0.75%/yr vs 0.13%/yr for PBOG.

Performance

PWRD vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWRD achieves a 14.65% return, which is significantly lower than PBOG's 24.78% return.

PWRD

• 1D: -2.91%
• 1M: -4.26%
• 6M: 9.17%
• YTD: 14.65%
• 1Y: 23.10%
• 3Y*: 28.28%
• 5Y*: —
• 10Y*: —

PBOG

• 1D: 0.16%
• 1M: 1.84%
• 6M: 20.36%
• YTD: 24.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	14.65%	0.94%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	24.78%	1.39%

Correlation

The correlation between PWRD and PBOG is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	-0.13

Return for Risk

PWRD vs. PBOG — Risk / Return Rank

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

PWRD

PWRD Risk / Return Rank: 33
PWRD Sharpe Ratio Rank: 28
PWRD Sortino Ratio Rank: 28
PWRD Omega Ratio Rank: 28
PWRD Calmar Ratio Rank: 39
PWRD Martin Ratio Rank: 40

PBOG

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. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.30	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.64	—	—
Martin ratio: Return relative to average drawdown	5.12	—	—

Drawdowns

PWRD vs. PBOG - Drawdown Comparison

The maximum PWRD drawdown since its inception was -25.87%, which is greater than PBOG's maximum drawdown of -19.24%. Use the drawdown chart below to compare losses from any high point for PWRD and PBOG.

Drawdown Indicators

	PWRD	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-19.24%	-6.63%
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	-10.39%	-12.05%	+1.66%
Average Drawdown Average peak-to-trough decline	-5.08%	-5.05%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	—	—

Volatility

Volatility by Period

	PWRD	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.90%	24.00%	+2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.23%	24.00%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	24.00%	-0.77%

PWRD vs. PBOG - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

PWRD vs. PBOG - Dividend Comparison

PWRD's dividend yield for the trailing twelve months is around 0.06%, less than PBOG's 0.14% yield.

Position	TTM	2025	2024	2023	2022
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.14%	0.17%	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 PBOG in my portfolio?

PWRD and PBOG have a correlation of -0.13, 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 PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.75% for PWRD.

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

PBOG has the higher dividend yield at 0.14%, compared with 0.06% for PWRD.

What is the main difference between PWRD and PBOG?

They also come from different issuers: TCW and Portfolio Building Blocks. Their fees differ too: 0.75% for PWRD and 0.13% for PBOG.