TCW Transform Systems ETF (PWRD) Performance
PWRD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.9% since Dec 31, 2025
- 1 year
- −4.9% total return
- 3 years
- +23.9% a year
- Since first price
- +15.5% a year since 2022
PWRD trailing returns vs SPY, QQQ, AGG
| Period | PWRD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −11.1% | −11.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −16.7% | −16.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −15.0% | −15.0% | +7.8% | +8.4% | −1.5% |
| YTD | −1.9% | −1.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −4.9% | −4.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +90.3%+23.9%/yr | +88.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionFeb 3, 2022 | +97.2%+15.5%/yr | +92.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PWRD vs SPY
From Feb 3, 2022: PWRD grew to $19,722, SPY to $18,130.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PWRD returns by calendar year
3 of 3 full years positive. Best 2025 (+32.8%), worst 2023 (+20.8%). 2026 is year to date.
PWRD annual returns table
| Year | PWRD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −1.9% | −23.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +32.8% | −25.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +28.5% | −10.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.8% | −7.8% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PWRD largest drawdowns
Now 23.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 23, 2025 | −25.9% | Apr 8, 2025 | Jun 2, 2025 | 2 months | 4 months |
| Jun 30, 2026 | −23.3% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
| Mar 25, 2022 | −21.5% | Jul 6, 2022 | Jul 31, 2023 | 3 months | 1.3 years |
| Feb 25, 2026 | −14.1% | Mar 30, 2026 | Apr 23, 2026 | 33 days | 57 days |
| May 24, 2024 | −10.4% | Aug 5, 2024 | Sep 19, 2024 | 2 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PWRD risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +27.6% | +18.3% |
| Volatility (annualized) | 22.0% | 23.3% |
| Sharpe ratio | 1.03 | 0.67 |
| Sortino ratio | 1.87 | 1.10 |
| Best month | +15.4% | +15.4% |
| Worst month | −12.2% | −13.3% |
| Best 12 months | +56.8% | +56.8% |
| Worst 12 months | +2.5% | −7.0% |
| Positive months | 58% | 56% |
| Beta vs S&P 500 | 1.20 | — |
| Correlation with S&P 500 | 0.68 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PWRD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 45 | −7.8% | +28.5% | +56.8% | 91% |
| 3-year (a year) | 21 | +9.7% | +26.6% | +33.5% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
PWRD performance overview
TCW Transform Systems ETF (PWRD) returned −4.9% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +15.5% a year, turning $10,000 into about $19,722. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −25.9%, from Jan 23, 2025 to Apr 8, 2025, and it took 55 days to get back to the old high. PWRD finished 3 of its 3 full calendar years with a gain; the best year was 2025 (+32.8%) and the worst 2023 (+20.8%). Volatility has been 23.3% a year.
Related: PWRD chart, PWRD holdings, PWRD dividends, PWRD valuation. See the PWRD overview for the latest quote and fund facts.
PWRD performance FAQ
What is the PWRD return over the past year?
PWRD returned −4.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.9%.
How much would $10,000 invested in PWRD be worth?
$10,000 invested in PWRD at its first recorded close on February 3, 2022 would be worth about $19,722 on October 23, 2026 with distributions reinvested.
What was the worst year for PWRD?
The worst calendar year was 2023, with a total return of +20.8%. The best was 2025 at +32.8%.
What is the biggest drawdown of PWRD?
The largest peak-to-trough decline was −25.9% between January 23, 2025 and April 8, 2025. It recovered to the old high on June 2, 2025, 55 days after the bottom.
How volatile is PWRD?
Over the past 3 years PWRD had an annualized volatility of 22.0% and a Sharpe ratio of 1.03 (excess return over 1–3 month T-bills per unit of risk).