PWRD vs. TCAI

Last updated Aug 2, 2026

PWRD (TCW Transform Systems ETF) and TCAI (Tortoise AI Infrastructure ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while TCAI is a Artificial Intelligence fund actively managed by Tortoise. Both are actively managed. Their correlation of 0.86 means they have usually moved in the same direction. PWRD charges 0.75%/yr vs 0.65%/yr for TCAI.

Performance

PWRD vs. TCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and Tortoise AI Infrastructure ETF (TCAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWRD achieves a 12.31% return, which is significantly lower than TCAI's 55.27% return.

PWRD

• 1D: 1.38%
• 1M: -6.14%
• 6M: 8.24%
• YTD: 12.31%
• 1Y: 16.15%
• 3Y*: 26.89%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.73%

TCAI

• 1D: -0.41%
• 1M: -7.41%
• 6M: 37.28%
• YTD: 55.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PWRD TCW Transform Systems ETF	$9.89M	$10.00M	$12.60M
TCAI Tortoise AI Infrastructure ETF	$4.79M	$5.54M	$6.96M

PWRD vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	12.31%	1.73%
TCAI Tortoise AI Infrastructure ETF	55.27%	17.27%

Correlation

The correlation between PWRD and TCAI is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.86

Return for Risk

PWRD vs. TCAI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PWRD

PWRD Risk / Return Rank: 25
PWRD Sharpe Ratio Rank: 24
PWRD Sortino Ratio Rank: 24
PWRD Omega Ratio Rank: 23
PWRD Calmar Ratio Rank: 26
PWRD Martin Ratio Rank: 31

TCAI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PWRD vs. TCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Tortoise AI Infrastructure ETF (TCAI). 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	TCAI	Difference
Sharpe ratio: Return per unit of total volatility	0.52	—	—
Sortino ratio: Return per unit of downside risk	0.88	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.82	—	—
Martin ratio: Return relative to average drawdown	2.80	—	—

Drawdowns

PWRD vs. TCAI - Drawdown Comparison

The maximum PWRD drawdown since its inception was -25.87%, smaller than the maximum TCAI drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for PWRD and TCAI.

Drawdown Indicators

	PWRD	TCAI	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-28.82%	+2.95%
Max Drawdown (1Y) Largest decline over 1 year	-17.46%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.87%	—	—
Current Drawdown Current decline from peak	-12.22%	-20.91%	+8.69%
Average Drawdown Average peak-to-trough decline	-5.14%	-4.71%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	—	—

Volatility

Volatility by Period

	PWRD	TCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	41.71%	-13.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.45%	41.71%	-18.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.45%	41.71%	-18.26%

PWRD vs. TCAI - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than TCAI's 0.65% expense ratio.

Dividends

PWRD vs. TCAI - Dividend Comparison

PWRD's dividend yield for the trailing twelve months is around 0.06%, more than TCAI's 0.03% yield.

Position	TTM	2025	2024	2023	2022
PWRD TCW Transform Systems ETF	0.06%	0.22%	0.49%	0.78%	0.91%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PWRD and TCAI in my portfolio?

PWRD and TCAI 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.

Which ETF is better, PWRD or TCAI?

On fees, TCAI is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or TCAI?

TCAI is cheaper with a 0.65% expense ratio, compared with 0.75% for PWRD.

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

PWRD has the higher dividend yield at 0.06%, compared with 0.03% for TCAI.

What is the main difference between PWRD and TCAI?

PWRD is categorized as Energy Equities, while TCAI is Artificial Intelligence. They also come from different issuers: TCW and Tortoise. Their fees differ too: 0.75% for PWRD and 0.65% for TCAI.