TCW Transform Systems ETF

Frequently Asked Questions About PWRD

What does PWRD invest in?

The PWRD exchange-traded fund (ETF) comprises a focused selection of equities, investing in companies poised to lead and profit from the global shift towards a net-zero carbon economy. Employing a unique, proprietary methodology, it systematically evaluates the broader U.S. stock market to identify firms actively working to significantly reduce carbon emissions or facilitate large-scale decarbonization efforts. This selection process integrates a macro-level economic analysis with a detailed, ground-up examination across various industries and individual companies. Notably, the fund's adviser deliberately avoids utilizing conventional sustainability ratings or environmental, social, and governance (ESG) rankings as exclusionary criteria for companies or entire sectors. Consequently, the portfolio might strategically include holdings in carbon-intensive industries, enabling the adviser to exert influence and foster change via its active proxy voting policies. These guidelines advocate for corporations to make impactful investments in their workforce, communities, customer welfare, and environmental stewardship. Furthermore, the adviser retains discretionary power to pursue particular investment opportunities deemed appropriate. It was formerly known as the Engine No. 1 Transform Climate ETF until October 13, 2023, and traded under the ticker symbol NETZ prior to February 3, 2025.

What is the expense ratio of PWRD?

TCW Transform Systems ETF (PWRD) charges an expense ratio of 0.75%. This is the annual fee deducted from fund assets to cover management and operations.

How big is PWRD?

TCW Transform Systems ETF (PWRD) manages $1.54B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is PWRD actively managed or an index fund?

PWRD's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was PWRD launched?

TCW Transform Systems ETF (PWRD) launched in February 2022 and is managed by TCW.

How has PWRD performed?

PWRD's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.