PWRD vs SPY
TCW Transform Systems ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PWRD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $1.5B | $814.4B | |
| Dividend Yield | 0.06% | 1.01% | |
| Holdings | 34 | 505 | |
| YTD Return | +5.38% | +12.60% | |
| 1Y Return | +15.24% | +20.83% | |
| 3Y Return (annualized) | +25.69% | +20.98% | |
| 5Y Return (annualized) | - | +12.56% | |
| Volatility (annualized) | 23.4% | 15.3% | |
| Max Drawdown | -25.9% | -56.5% | |
| Fund Family | TCW ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2022 | Jan 22, 1993 |
PWRD vs SPY Performance
TCW Transform Systems ETF (PWRD) is a ETF from TCW ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PWRD returned +15.24% while SPY returned +20.83%. Year to date, PWRD is up 5.38% versus a gain of 12.60% for SPY.
Over three years, PWRD compounded at +25.69% per year against +20.98% for SPY. Across the full 5-year window we track, PWRD has the edge at +18.51% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWRD has been the more volatile fund, with annualized monthly volatility of 23.4% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.9% for PWRD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PWRD charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, PWRD currently yields 0.06% against 1.01% for SPY.
Holdings Overlap
PWRD and SPY share 16 holdings out of 516 unique holdings combined, representing a 8.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PWRD or SPY?
PWRD has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, PWRD or SPY?
Over the past year PWRD returned +15.24% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), PWRD annualized +18.51% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, PWRD or SPY?
PWRD has been the more volatile fund at 23.4% annualized versus 15.3% for SPY. Worst drawdown: PWRD -25.9% vs SPY -56.5%.
Should I hold both PWRD and SPY?
PWRD and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PWRD and SPY?
PWRD and SPY share 16 common holdings with a 8.0% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, PWRD or SPY?
PWRD yields 0.06% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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