TCAI vs. PWRD

Last updated Apr 1, 2026

Compare and contrast key facts about Tortoise AI Infrastructure ETF (TCAI) and TCW Transform Systems ETF (PWRD).

TCAI and PWRD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCAI is an actively managed fund by Tortoise. It was launched on Aug 4, 2025. PWRD is an actively managed fund by TCW. It was launched on Feb 2, 2022.

Performance

TCAI vs. PWRD - Performance Comparison

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

TCAI vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	16.67%	17.77%
PWRD TCW Transform Systems ETF	1.67%	2.46%

Returns By Period

In the year-to-date period, TCAI achieves a 16.67% return, which is significantly higher than PWRD's 1.67% return.

TCAI

• 1D: 4.49%
• 1M: -6.61%
• YTD: 16.67%
• 6M: 16.89%
• 1Y: —
• 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)

TCAI vs. PWRD - Expense Ratio Comparison

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

PWRD

TCW Transform Systems ETF

TCAI

Tortoise AI Infrastructure ETF

Return for Risk

TCAI vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise AI Infrastructure ETF (TCAI) 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.

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

Sharpe Ratios by Period

	TCAI	PWRD	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	0.54	+1.26

Correlation

The correlation between TCAI and PWRD is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TCAI vs. PWRD - Dividend Comparison

TCAI's dividend yield for the trailing twelve months is around 0.04%, while PWRD has not paid dividends to shareholders.

	TTM	2025
TCAI Tortoise AI Infrastructure ETF	0.04%	0.05%
PWRD TCW Transform Systems ETF	0.00%	0.00%

Drawdowns

TCAI vs. PWRD - Drawdown Comparison

The maximum TCAI drawdown since its inception was -15.80%, which is greater than PWRD's maximum drawdown of -14.12%. Use the drawdown chart below to compare losses from any high point for TCAI and PWRD.

Drawdown Indicators

	TCAI	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-15.80%	-14.12%	-1.68%
Current Drawdown Current decline from peak	-8.07%	-10.66%	+2.59%
Average Drawdown Average peak-to-trough decline	-3.97%	-3.28%	-0.69%

Volatility

Volatility by Period

	TCAI	PWRD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	35.03%	23.65%	+11.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.03%	23.65%	+11.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.03%	23.65%	+11.38%