PWRD vs. TCAI

Last updated Jun 23, 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 Technology Equities fund actively managed by Tortoise. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. 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 27.47% return, which is significantly lower than TCAI's 96.33% return.

PWRD

• 1D: 1.93%
• 1M: 9.69%
• YTD: 27.47%
• 6M: 25.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAI

• 1D: 2.42%
• 1M: 16.16%
• YTD: 96.33%
• 6M: 93.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PWRD vs. TCAI - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	27.47%	1.73%
TCAI Tortoise AI Infrastructure ETF	96.33%	17.27%

Correlation

The correlation between PWRD and TCAI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	0.85

Return for Risk

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.

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

Drawdowns

PWRD vs. TCAI - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, smaller than the maximum TCAI drawdown of -15.80%. 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	-14.12%	-15.80%	+1.68%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.12%	-3.53%	+0.41%

Volatility

Volatility by Period

	PWRD	TCAI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	25.04%	37.24%	-12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	37.24%	-12.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.04%	37.24%	-12.20%

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 has not paid dividends to shareholders, while TCAI's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025
PWRD TCW Transform Systems ETF	0.00%	0.00%
TCAI Tortoise AI Infrastructure ETF	0.03%	0.05%

Frequently Asked Questions

Can I hold both PWRD and TCAI in my portfolio?

PWRD and TCAI have a correlation of 0.85, 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?

TCAI has the higher dividend yield at 0.03%, compared with 0.00% for PWRD.

What is the main difference between PWRD and TCAI?

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