PWRD vs. XOP

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Transform Systems ETF (PWRD) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

PWRD and XOP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWRD is an actively managed fund by TCW. It was launched on Feb 2, 2022. XOP is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry. It was launched on Jun 19, 2006.

Performance

PWRD vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Systems ETF (PWRD) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

PWRD vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025
PWRD TCW Transform Systems ETF	1.67%	7.66%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	44.59%	0.67%

Returns By Period

In the year-to-date period, PWRD achieves a 1.67% return, which is significantly lower than XOP's 44.59% return.

PWRD

• 1D: 4.03%
• 1M: -9.38%
• YTD: 1.67%
• 6M: 0.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XOP

• 1D: -1.97%
• 1M: 18.76%
• YTD: 44.59%
• 6M: 39.10%
• 1Y: 41.36%
• 3Y*: 15.28%
• 5Y*: 19.07%
• 10Y*: 6.29%

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

PWRD vs. XOP - Expense Ratio Comparison

PWRD has a 0.75% expense ratio, which is higher than XOP's 0.35% expense ratio.

PWRD

TCW Transform Systems ETF

XOP

SPDR S&P Oil & Gas Exploration & Production ETF

Return for Risk

PWRD vs. XOP — Risk / Return Rank

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

XOP

XOP Risk / Return Rank: 69
XOP Sharpe Ratio Rank: 73
XOP Sortino Ratio Rank: 69
XOP Omega Ratio Rank: 69
XOP Calmar Ratio Rank: 72
XOP Martin Ratio Rank: 63

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. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Systems ETF (PWRD) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.07	+0.47

Correlation

The correlation between PWRD and XOP is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PWRD vs. XOP - Dividend Comparison

PWRD has not paid dividends to shareholders, while XOP's dividend yield for the trailing twelve months is around 1.79%.

	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%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.79%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Drawdowns

PWRD vs. XOP - Drawdown Comparison

The maximum PWRD drawdown since its inception was -14.12%, smaller than the maximum XOP drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for PWRD and XOP.

Drawdown Indicators

	PWRD	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-14.12%	-90.27%	+76.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.61%	—
Current Drawdown Current decline from peak	-10.66%	-32.42%	+21.76%
Average Drawdown Average peak-to-trough decline	-3.28%	-42.64%	+39.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.32%	—

Volatility

Volatility by Period

	PWRD	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.65%	33.50%	-9.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.65%	34.15%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	40.28%	-16.63%