TCW Transform Systems ETF (PWRD) Valuation
PWRD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 28.2 trailing earnings
- Forward P/E
- 21.9 analyst estimates
- Price / sales
- 3.14
- Price / book
- 6.74
- EV / EBITDA
- 19.9
- Earnings yield
- 3.54% inverse of P/E
- Dividend yield
- 0.75% of the holdings
- Return on equity
- 23.9% combined
- Net margin
- 11.1% combined
- Beta
- 1.30 weighted, vs S&P 500
PWRD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PWRD | 28.2 | 21.9 | 3.14 | 6.74 | 0.75% | 23.9% | 11.1% | 0.0% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
PWRD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 45.7% | 36.8 | 27.4 | 5.23 | 9.11 | 0.70% | 24.8% |
| Technology | 25.2% | 32.8 | 22.3 | 2.51 | 8.82 | 0.45% | 26.9% |
| Energy | 15.5% | 14.5 | 14.4 | 2.06 | 3.49 | 1.59% | 24.0% |
| Consumer Cyclical | 2.3% | 56.0 | 26.0 | 2.34 | 8.54 | 0.00% | 15.3% |
| Basic Materials | 2.1% | 32.6 | 20.6 | 5.32 | 3.02 | 0.67% | 9.3% |
PWRD earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How PWRD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PWRD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| GCP | General Electric Company | 8.30% | — | — | — | — | — |
| UNP | Union Pacific Corporation | 6.09% | 23.4 | 19.3 | 6.8 | 1.97% | 9.63% |
| VG | Venture Global, Inc. | 5.92% | 10.0 | 14.4 | 1.9 | 1.26% | 21.93% |
| SAF | Safran SA | 5.45% | — | — | — | — | — |
| ANET | Arista Networks, Inc. | 5.29% | 55.8 | 39.2 | 21.2 | — | 3.51% |
| XOM | Exxon Mobil Corporation | 5.26% | 23.0 | 14.8 | 2.0 | 2.30% | 8.46% |
| KLAC | KLA Corporation | 4.53% | 45.3 | 34.8 | 15.9 | 0.56% | 3.71% |
| AIR | Airbus Group SE | 4.45% | — | — | — | — | — |
| AVGO | Broadcom Inc. | 4.04% | 43.3 | 19.4 | 17.6 | 0.79% | 3.46% |
| TT | Trane Technologies plc | 4.03% | 34.2 | 25.2 | 4.5 | 0.92% | 4.36% |
| AMAT | Applied Materials, Inc. | 3.82% | 35.3 | 23.4 | 10.5 | 0.52% | 4.01% |
| POWL | Powell Industries, Inc. | 3.71% | 31.6 | 29.3 | 5.2 | 0.22% | 4.34% |
| VRT | Vertiv Holdings Co | 3.44% | 46.7 | 27.8 | 6.9 | 0.12% | 2.73% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 3.40% | 26.7 | 21.4 | 0.4 | 0.91% | 4.71% |
| GEV | GE Vernova Inc. | 3.40% | 26.4 | 38.8 | 5.9 | 0.22% | 4.77% |
| ETN | Eaton Corporation plc | 3.37% | 39.8 | 27.6 | 5.1 | 1.12% | 3.14% |
| PWR | Quanta Services, Inc. | 2.99% | 72.4 | 33.0 | 2.9 | 0.07% | 1.53% |
| MOD | Modine Manufacturing Company | 2.28% | 56.0 | 26.0 | 2.3 | — | 1.51% |
| BE | Bloom Energy Corporation | 2.28% | 291.2 | 57.1 | 20.9 | — | 0.29% |
| LNG | Cheniere Energy, Inc. | 2.19% | 21.9 | 13.5 | 2.9 | 0.77% | 3.70% |
| MLM | Martin Marietta Materials, Inc. | 2.12% | 32.6 | 20.6 | 5.3 | 0.67% | 2.41% |
| FSLR | First Solar, Inc. | 2.10% | 10.6 | 8.3 | 3.4 | — | 7.30% |
| CCO | Cameco Corp | 2.09% | — | — | — | — | — |
| MIR | Mirion Technologies, Inc. | 2.05% | 168.3 | — | 3.7 | — | 0.45% |
| Q | Qnity Electronics, Inc. | 2.03% | 41.2 | 24.8 | 4.6 | 0.28% | 1.83% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About PWRD valuation
Adding up its 22 holdings with company data, PWRD trades at 28.2 times trailing earnings and 21.9 times analysts' forward estimates, with a price-to-book ratio of 6.74 and a dividend yield of 0.75%. Its earnings yield of 3.54% is 1.79 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 53.4% of the fund and earn 66.1% of its combined profit. By sector, Consumer Cyclical is the most expensive at 56.0 times earnings and Energy the cheapest at 14.5. Companies that lost money over the past year are 0.0% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 76.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PWRD chart, PWRD performance, PWRD holdings, PWRD dividends.
PWRD valuation FAQ
What is the P/E ratio of PWRD?
Based on its holdings, PWRD has a trailing P/E of 28.2 and a forward P/E of 21.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PWRD?
The trailing earnings yield is 3.54% (1 ÷ P/E) and the forward earnings yield 4.57%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PWRD more expensive than the S&P 500?
PWRD trades at 28.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.9 and 19.9.
What is the price-to-book ratio of PWRD?
The holdings of PWRD trade at 6.74 times book value, with a combined return on equity of 23.9%.
Which sector in PWRD has the highest P/E?
Consumer Cyclical has the highest P/E at 56.0 and Energy the lowest at 14.5.