TCAI vs. PWRD

Last updated Jun 3, 2026

TCAI (Tortoise AI Infrastructure ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - TCAI is a Technology Equities fund actively managed by Tortoise, while PWRD is a Energy Equities fund actively managed by TCW. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. TCAI charges 0.65%/yr vs 0.75%/yr for PWRD.

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.

Returns By Period

In the year-to-date period, TCAI achieves a 90.13% return, which is significantly higher than PWRD's 19.92% return.

TCAI

• 1D: 2.62%
• 1M: 22.37%
• YTD: 90.13%
• 6M: 84.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWRD

• 1D: 2.47%
• 1M: 2.71%
• YTD: 19.92%
• 6M: 19.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TCAI vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025
TCAI Tortoise AI Infrastructure ETF	90.13%	17.77%
PWRD TCW Transform Systems ETF	19.92%	2.46%

Correlation

The correlation between TCAI and PWRD is 0.84, 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 6, 2025	0.84

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	4.66	1.32	+3.33

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	0.00%	-0.65%	+0.65%
Average Drawdown Average peak-to-trough decline	-3.45%	-3.18%	-0.27%

Volatility

Volatility by Period

	TCAI	PWRD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	35.90%	24.08%	+11.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.90%	24.08%	+11.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.90%	24.08%	+11.82%

TCAI vs. PWRD - Expense Ratio Comparison

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

Dividends

TCAI vs. PWRD - Dividend Comparison

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

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 TCAI and PWRD in my portfolio?

TCAI and PWRD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TCAI or PWRD?

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, TCAI or PWRD?

TCAI is cheaper with a 0.65% expense ratio, compared with 0.75% for PWRD.

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

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

What is the main difference between TCAI and PWRD?

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