SLNZ vs. PWRD

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Senior Loan ETF (SLNZ) and TCW Transform Systems ETF (PWRD).

SLNZ and PWRD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLNZ is an actively managed fund by TCW. It was launched on Jun 28, 2013. PWRD is an actively managed fund by TCW. It was launched on Feb 2, 2022.

Performance

SLNZ vs. PWRD - Performance Comparison

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

SLNZ vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
SLNZ TCW Senior Loan ETF	-0.97%	2.79%
PWRD TCW Transform Systems ETF	1.67%	7.66%

Returns By Period

In the year-to-date period, SLNZ achieves a -0.97% return, which is significantly lower than PWRD's 1.67% return.

SLNZ

• 1D: 0.32%
• 1M: 0.51%
• YTD: -0.97%
• 6M: 0.18%
• 1Y: 3.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWRD

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

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

SLNZ vs. PWRD - Expense Ratio Comparison

SLNZ has a 0.65% expense ratio, which is lower than PWRD's 0.75% expense ratio.

PWRD

TCW Transform Systems ETF

SLNZ

TCW Senior Loan ETF

Return for Risk

SLNZ vs. PWRD — Risk / Return Rank

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

SLNZ

SLNZ Risk / Return Rank: 35
SLNZ Sharpe Ratio Rank: 35
SLNZ Sortino Ratio Rank: 31
SLNZ Omega Ratio Rank: 31
SLNZ Calmar Ratio Rank: 43
SLNZ Martin Ratio Rank: 37

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.

SLNZ vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Senior Loan ETF (SLNZ) and TCW Transform Systems ETF (PWRD). 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.

	SLNZ	PWRD	Difference
Sharpe ratio Return per unit of total volatility	0.68	—	—
Sortino ratio Return per unit of downside risk	0.94	—	—
Omega ratio Gain probability vs. loss probability	1.13	—	—
Calmar ratio Return relative to maximum drawdown	1.17	—	—
Martin ratio Return relative to average drawdown	3.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SLNZ	PWRD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.54	+0.33

Correlation

The correlation between SLNZ and PWRD is 0.02, 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

SLNZ vs. PWRD - Dividend Comparison

SLNZ's dividend yield for the trailing twelve months is around 7.66%, while PWRD has not paid dividends to shareholders.

	TTM	2025	2024
SLNZ TCW Senior Loan ETF	7.66%	7.39%	1.39%
PWRD TCW Transform Systems ETF	0.00%	0.00%	0.00%

Drawdowns

SLNZ vs. PWRD - Drawdown Comparison

The maximum SLNZ drawdown since its inception was -2.57%, smaller than the maximum PWRD drawdown of -14.12%. Use the drawdown chart below to compare losses from any high point for SLNZ and PWRD.

Drawdown Indicators

	SLNZ	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-2.57%	-14.12%	+11.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	—	—
Current Drawdown Current decline from peak	-1.73%	-10.66%	+8.93%
Average Drawdown Average peak-to-trough decline	-0.46%	-3.28%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	—	—

Volatility

Volatility by Period

	SLNZ	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	23.65%	-18.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.32%	23.65%	-19.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	23.65%	-19.33%