PWRD vs. SLNZ
PWRD (TCW Transform Systems ETF) and SLNZ (TCW Senior Loan ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while SLNZ is a Bank Loan fund actively managed by TCW. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. PWRD charges 0.75%/yr vs 0.65%/yr for SLNZ.
Performance
PWRD vs. SLNZ - Performance Comparison
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Returns By Period
In the year-to-date period, PWRD achieves a 19.81% return, which is significantly higher than SLNZ's 1.58% return.
PWRD
- 1D
- -0.09%
- 1M
- 3.10%
- YTD
- 19.81%
- 6M
- 18.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLNZ
- 1D
- -0.02%
- 1M
- 0.79%
- YTD
- 1.58%
- 6M
- 1.98%
- 1Y
- 4.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PWRD vs. SLNZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PWRD TCW Transform Systems ETF | 19.81% | 7.66% |
SLNZ TCW Senior Loan ETF | 1.58% | 2.79% |
Correlation
The correlation between PWRD and SLNZ is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.03 |
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Return for Risk
PWRD vs. SLNZ — Risk / Return Rank
PWRD
SLNZ
PWRD vs. SLNZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and TCW Senior Loan ETF (SLNZ). 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.
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Sharpe Ratios by Period
| PWRD | SLNZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.06 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.32 | 1.18 | +0.14 |
Drawdowns
PWRD vs. SLNZ - Drawdown Comparison
The maximum PWRD drawdown since its inception was -14.12%, which is greater than SLNZ's maximum drawdown of -2.57%. Use the drawdown chart below to compare losses from any high point for PWRD and SLNZ.
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Drawdown Indicators
| PWRD | SLNZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.12% | -2.57% | -11.55% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.57% | — |
Current DrawdownCurrent decline from peak | -0.74% | -0.02% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -3.17% | -0.45% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.82% | — |
Volatility
PWRD vs. SLNZ - Volatility Comparison
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Volatility by Period
| PWRD | SLNZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.46% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.89% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.03% | 4.42% | +19.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.03% | 4.29% | +19.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.03% | 4.29% | +19.74% |
PWRD vs. SLNZ - Expense Ratio Comparison
PWRD has a 0.75% expense ratio, which is higher than SLNZ's 0.65% expense ratio.
Dividends
PWRD vs. SLNZ - Dividend Comparison
PWRD has not paid dividends to shareholders, while SLNZ's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
PWRD TCW Transform Systems ETF | 0.00% | 0.00% | 0.00% |
SLNZ TCW Senior Loan ETF | 7.55% | 7.39% | 1.39% |
Frequently Asked Questions
PWRD and SLNZ have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SLNZ is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SLNZ is cheaper with a 0.65% expense ratio, compared with 0.75% for PWRD.
SLNZ has the higher dividend yield at 7.55%, compared with 0.00% for PWRD.
PWRD is categorized as Energy Equities, while SLNZ is Bank Loan. Their fees differ too: 0.75% for PWRD and 0.65% for SLNZ.
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