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The TCW Transform Systems ETF has outperformed the S&P 500, delivering strong returns driven by exposure to energy, data centers, and power infrastructure trends. PWRD's active management and high turnover have shifted recent sector allocations, increasing technology exposure while maintaining a core focus on industrials and energy transformation. Despite high valuations (average PE > 30) and an above-average expense ratio, PWRD maintains a five-star Morningstar rating for risk-adjusted returns, reflecting strong historical performance.
TCW's concentrated strategy targets power grid constraints over clean tech, riding demand from AI and manufacturing reshoring.
TCW Transform Systems ETF (NASDAQ: PWRD - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $100.45 and traded as high as $109.63. TCW Transform Systems ETF shares last traded at $109.37, with a volume of 121,773 shares traded. TCW Transform Systems
Active fixed income ETFs gathered an impressive 38% of the $173 billion of net inflows in the 12 months ended January 2026. TCW's recent expansion serves as a strong case study in how a legacy bond powerhouse can benefit as ETFs gain market share.
LOS ANGELES--(BUSINESS WIRE)--The TCW Group, a leading global investment firm, announced today that TCW Transform Systems ETF (PWRD) has surpassed $1 billion in assets under management (AUM), with 200% asset growth since January 2025, and 32.58% annual return in 2025, making it the top-performing exchange-traded fund in its peer group last year1, according to data from Morningstar. PWRD is an actively managed ETF that aims to invest in companies across many sectors that are driving or benefitti.
Energy markets around the world have been shaken up by geopolitical volatility, most notably in Venezuela and Iran. However, there's much more to the story beyond just those two countries.
TCW Transform Systems ETF has delivered top-percentile returns in 2024 and 2025, earning a five-star Morningstar rating. PWRD targets companies driving energy transformation, with heavy industrial exposure and 25% international allocation, but currently trades at elevated valuations. The ETF has outperformed the S&P 500 by over 6% annualized since inception, though it has lagged in the last six months and faces near-term volatility risks.
TCW Transform Systems ETF offers focused exposure to next-generation power distribution and energy transition, with a strong tilt toward industrials and AI data centers. PWRD's portfolio is concentrated, with the top 10 holdings comprising over 60%, and includes leaders in power infrastructure, AI chips, and traditional energy transitioning to renewables. Despite a higher expense ratio, PWRD has outperformed peers and provides diversified access to the energy lifecycle but carries concentration and sector-specific risks.
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