VOTE vs. PWRD

Last updated Aug 2, 2026

VOTE (TCW Transform 500 ETF) and PWRD (TCW Transform Systems ETF) are both exchange-traded funds - VOTE is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index, while PWRD is a Energy Equities fund actively managed by TCW. VOTE is passively managed, while PWRD is actively managed. Over the past 3 years, VOTE returned 19.65%/yr vs 26.89%/yr for PWRD. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VOTE charges 0.05%/yr vs 0.75%/yr for PWRD.

Performance

VOTE vs. PWRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform 500 ETF (VOTE) 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, VOTE achieves a 10.03% return, which is significantly lower than PWRD's 12.31% return.

VOTE

• 1D: 0.53%
• 1M: -0.05%
• 6M: 8.71%
• YTD: 10.03%
• 1Y: 21.16%
• 3Y*: 19.65%
• 5Y*: 12.43%
• 10Y*: —
• ALL TIME*: 12.94%

PWRD

• 1D: 1.38%
• 1M: -6.14%
• 6M: 8.24%
• YTD: 12.31%
• 1Y: 16.15%
• 3Y*: 26.89%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PWRD TCW Transform Systems ETF	$9.89M	$10.00M	$12.60M
VOTE TCW Transform 500 ETF	$1.77M	$1.64M	$2.40M

VOTE vs. PWRD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VOTE TCW Transform 500 ETF	10.03%	17.95%	25.23%	27.60%	-16.27%
PWRD TCW Transform Systems ETF	12.31%	32.84%	28.54%	20.83%	-3.18%

Correlation

The correlation between VOTE and PWRD is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022	0.78

The correlation between VOTE and PWRD has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

VOTE vs. PWRD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VOTE

VOTE Risk / Return Rank: 64
VOTE Sharpe Ratio Rank: 63
VOTE Sortino Ratio Rank: 61
VOTE Omega Ratio Rank: 60
VOTE Calmar Ratio Rank: 60
VOTE Martin Ratio Rank: 73

PWRD

PWRD Risk / Return Rank: 25
PWRD Sharpe Ratio Rank: 24
PWRD Sortino Ratio Rank: 24
PWRD Omega Ratio Rank: 23
PWRD Calmar Ratio Rank: 26
PWRD Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VOTE vs. PWRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform 500 ETF (VOTE) 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.

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.

	VOTE	PWRD	Difference
Sharpe ratio: Return per unit of total volatility	1.47	0.52	+0.95
Sortino ratio: Return per unit of downside risk	2.05	0.88	+1.17
Omega ratio: Gain probability vs. loss probability	1.26	1.11	+0.15
Calmar ratio: Return relative to maximum drawdown	2.12	0.82	+1.29
Martin ratio: Return relative to average drawdown	8.96	2.80	+6.16

VOTE vs. PWRD - Sharpe Ratio Comparison

The current VOTE Sharpe Ratio is 1.47, which is higher than the PWRD Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of VOTE and PWRD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VOTE vs. PWRD - Drawdown Comparison

The maximum VOTE drawdown since its inception was -25.71%, roughly equal to the maximum PWRD drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for VOTE and PWRD.

Drawdown Indicators

	VOTE	PWRD	Difference
Max Drawdown Largest peak-to-trough decline	-25.71%	-25.87%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-17.46%	+8.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.08%	-25.87%	+6.79%
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	—	—
Current Drawdown Current decline from peak	-1.59%	-12.22%	+10.63%
Average Drawdown Average peak-to-trough decline	-6.01%	-5.14%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	5.13%	-2.98%

Volatility

VOTE vs. PWRD - Volatility Comparison

The current volatility for TCW Transform 500 ETF (VOTE) is 3.59%, while TCW Transform Systems ETF (PWRD) has a volatility of 10.66%. This indicates that VOTE experiences smaller price fluctuations and is considered to be less risky than PWRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOTE	PWRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	10.66%	-7.07%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	23.72%	-13.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	27.86%	-14.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	23.45%	-6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	23.45%	-6.37%

VOTE vs. PWRD - Expense Ratio Comparison

VOTE has a 0.05% expense ratio, which is lower than PWRD's 0.75% expense ratio.

Dividends

VOTE vs. PWRD - Dividend Comparison

VOTE's dividend yield for the trailing twelve months is around 0.94%, more than PWRD's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021
PWRD TCW Transform Systems ETF	0.06%	0.22%	0.49%	0.78%	0.91%	0.00%
VOTE TCW Transform 500 ETF	0.94%	1.03%	1.18%	1.33%	1.54%	0.54%

Frequently Asked Questions

Can I hold both VOTE and PWRD in my portfolio?

VOTE and PWRD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOTE or PWRD?

PWRD has higher volatility (10.66%) compared to VOTE (3.59%). In terms of maximum drawdown, VOTE dropped -25.71% vs PWRD's -25.87%.

Which ETF is better, VOTE or PWRD?

On 3-year performance, PWRD leads with 26.89% vs 19.65% for VOTE. On fees, VOTE is cheaper at 0.05% per year. On volatility, VOTE has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOTE or PWRD?

Over the 3-year period, PWRD has performed better with a 26.89% return vs 19.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOTE or PWRD?

VOTE is cheaper with a 0.05% expense ratio, compared with 0.75% for PWRD.

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

VOTE has the higher dividend yield at 0.94%, compared with 0.06% for PWRD.

What is the main difference between VOTE and PWRD?

VOTE is categorized as Large Cap Blend Equities, while PWRD is Energy Equities. Their fees differ too: 0.05% for VOTE and 0.75% for PWRD.

Which has better risk-adjusted returns?

VOTE currently has the higher Sharpe Ratio (1.47 vs 0.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.