PWRD vs. SHLD

Last updated Jun 4, 2026

PWRD (TCW Transform Systems ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. PWRD is actively managed, while SHLD is passively managed. At a 0.47 correlation, their price movements are largely independent. PWRD charges 0.75%/yr vs 0.50%/yr for SHLD.

Performance

PWRD vs. SHLD - Performance Comparison

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

Returns By Period

In the year-to-date period, PWRD achieves a 19.81% return, which is significantly higher than SHLD's -2.28% return.

PWRD

• 1D: -0.09%
• 1M: 3.10%
• YTD: 19.81%
• 6M: 18.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -2.39%
• 1M: -7.01%
• YTD: -2.28%
• 6M: 1.71%
• 1Y: 9.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	19.81%	7.66%
SHLD Global X Defense Tech ETF	-2.28%	9.88%

Correlation

The correlation between PWRD and SHLD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.47

Return for Risk

PWRD vs. SHLD — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 14
SHLD Sortino Ratio Rank: 15
SHLD Omega Ratio Rank: 14
SHLD Calmar Ratio Rank: 14
SHLD Martin Ratio Rank: 15

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Global X Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	2.00	-0.68

Drawdowns

PWRD vs. SHLD - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, smaller than the maximum SHLD drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for PWRD and SHLD.

Drawdown Indicators

	PWRD	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-14.12%	-20.10%	+5.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.10%	—
Current Drawdown Current decline from peak	-0.74%	-18.85%	+18.11%
Average Drawdown Average peak-to-trough decline	-3.17%	-3.19%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.51%	—

Volatility

Volatility by Period

	PWRD	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.03%	24.05%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.03%	21.13%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.03%	21.13%	+2.90%

PWRD vs. SHLD - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

PWRD vs. SHLD - Dividend Comparison

PWRD has not paid dividends to shareholders, while SHLD's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023
PWRD TCW Transform Systems ETF	0.00%	0.00%	0.00%	0.00%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both PWRD and SHLD in my portfolio?

PWRD and SHLD have a correlation of 0.47, 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 SHLD?

On fees, SHLD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.75% for PWRD.

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

SHLD has the higher dividend yield at 0.56%, compared with 0.00% for PWRD.

What is the main difference between PWRD and SHLD?

PWRD is categorized as Energy Equities, while SHLD is Aerospace & Defense. They also come from different issuers: TCW and Global X. Their fees differ too: 0.75% for PWRD and 0.50% for SHLD.