# TCW Transform Systems ETF (PWRD): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/pwrd for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: TCW · Asset class: Equity - Strategy: Actively Managed · Inception: 2022-02-02 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 advis... ## Key Facts | Metric | Value | |---|---| | Price | $100.60 | | Expense Ratio | 0.75% | | Assets Under Management | $1.46B | | NAV | $100.55 | | Holdings Count | 28 | | Distribution Yield (TTM) | 0.06% | | Annual Distribution (TTM) | $0.06 /share | | Distribution Frequency | Annual | | 52-Week Range | $90.58 – $123.23 | | Beta | 1.19 | ## Latest Distribution - Amount: $0.0607 /share - Ex-date: 2026-06-23 - Pay date: 2026-06-25 ## Frequently Asked Questions ### 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 $1.46B 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 is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PWRD's is 0.75%) in exchange for the discretion to over- or under-weight positions. ### 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. ### Does PWRD pay a dividend? TCW Transform Systems ETF (PWRD) currently distributes little or no income. Trailing-twelve-month yield is 0.06%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PWRD pay dividends? TCW Transform Systems ETF pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PWRD's dividend yield? PWRD's trailing-twelve-month yield is 0.06%, calculated from the sum of dividends over the past year divided by the current price. ### When is PWRD's next ex-dividend date? The most recently announced ex-dividend date for PWRD was 2026-06-23. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will PWRD's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.75% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PWRD charge its expense ratio? The expense ratio is deducted in tiny daily slices from PWRD's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PWRD cost more than a fund like VOO? PWRD is actively managed (current expense ratio 0.75%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PWRD's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to PWRD? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PWRD (0.75%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/pwrd - Distribution history: https://www.dividenddata.com/funds/pwrd/dividend - Holdings & diversification: https://www.dividenddata.com/funds/pwrd/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/pwrd/expenses - Peer comparison: https://www.dividenddata.com/funds/pwrd/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.