PWRD vs. UTES

Last updated Jun 23, 2026

PWRD (TCW Transform Systems ETF) and UTES (Virtus Reaves Utilities ETF) are both exchange-traded funds - PWRD is a Energy Equities fund actively managed by TCW, while UTES is a Utilities Equities fund actively managed by Virtus Investment Partners. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. PWRD charges 0.75%/yr vs 0.49%/yr for UTES.

Performance

PWRD vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and Virtus Reaves Utilities ETF (UTES). 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 higher than UTES's 5.53% return.

PWRD

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

UTES

• 1D: 0.95%
• 1M: 1.74%
• YTD: 5.53%
• 6M: 5.66%
• 1Y: 13.65%
• 3Y*: 24.73%
• 5Y*: 17.31%
• 10Y*: 12.78%

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

PWRD vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	27.47%	7.81%
UTES Virtus Reaves Utilities ETF	5.53%	5.80%

Correlation

The correlation between PWRD and UTES is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.61

Return for Risk

PWRD vs. UTES — Risk / Return Rank

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

PWRD

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

UTES

UTES Risk / Return Rank: 19
UTES Sharpe Ratio Rank: 19
UTES Sortino Ratio Rank: 18
UTES Omega Ratio Rank: 18
UTES Calmar Ratio Rank: 22
UTES Martin Ratio Rank: 19

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. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and Virtus Reaves Utilities ETF (UTES). 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	UTES	Difference
Sharpe ratio: Return per unit of total volatility	—	0.64	—
Sortino ratio: Return per unit of downside risk	—	0.99	—
Omega ratio: Gain probability vs. loss probability	—	1.12	—
Calmar ratio: Return relative to maximum drawdown	—	0.99	—
Martin ratio: Return relative to average drawdown	—	2.15	—

Drawdowns

PWRD vs. UTES - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, smaller than the maximum UTES drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for PWRD and UTES.

Drawdown Indicators

	PWRD	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-14.12%	-35.39%	+21.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.39%	—
Current Drawdown Current decline from peak	0.00%	-4.32%	+4.32%
Average Drawdown Average peak-to-trough decline	-3.12%	-5.53%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.35%	—

Volatility

Volatility by Period

	PWRD	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.04%	21.52%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	20.64%	+4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.04%	20.21%	+4.83%

PWRD vs. UTES - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than UTES's 0.49% expense ratio.

Dividends

PWRD vs. UTES - Dividend Comparison

PWRD has not paid dividends to shareholders, while UTES's dividend yield for the trailing twelve months is around 1.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWRD TCW Transform Systems ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTES Virtus Reaves Utilities ETF	1.44%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both PWRD and UTES in my portfolio?

PWRD and UTES have a correlation of 0.61, 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 UTES?

On fees, UTES is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PWRD or UTES?

UTES is cheaper with a 0.49% expense ratio, compared with 0.75% for PWRD.

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

UTES has the higher dividend yield at 1.44%, compared with 0.00% for PWRD.

What is the main difference between PWRD and UTES?

PWRD is categorized as Energy Equities, while UTES is Utilities Equities. They also come from different issuers: TCW and Virtus Investment Partners. Their fees differ too: 0.75% for PWRD and 0.49% for UTES.