PWRD vs SPY
TCW Transform Systems ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PWRD or SPY?
Each has led over a different period.
SPY has a lower expense ratio. PWRD led over 3Y and the full window, SPY over 1Y. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PWRD | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $1.4B | $804.7B |
| Dividend Yield | 0.06% | 0.98% |
| Holdings | 34 | 505 |
| YTD Return | +7.35% | +12.99%Best |
| 1Y Return | +9.38% | +16.73%Best |
| 3Y Return (annualized) | +27.85%Best | +22.52% |
| 5Y Return (annualized) | - | +13.07% |
| Volatility (annualized) | 23.3% | 15.6%Best |
| Max Drawdown | -25.9% | -22.1%Best |
| $10,000 over 4.6 years | $22,028Best | $18,190 |
| Top 10 Weight | 52.6% | 37.8%Best |
| Fund Family | TCW ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 2, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Feb 3, 2022 to Sep 23, 2026 (4.6 years).
PWRD vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.6 years both funds cover.
PWRD vs SPY Performance
TCW Transform Systems ETF (PWRD) is an ETF from TCW ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PWRD returned +9.38% while SPY returned +16.73%. Year to date, PWRD is up 7.35% versus a gain of 12.99% for SPY.
Over three years, PWRD compounded at +27.85% per year against +22.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PWRD has been the more volatile fund, with annualized monthly volatility of 23.3% compared with 15.6% 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 -22.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.98% for SPY.
Holdings Overlap
61.8% of PWRD's money is in holdings SPY also owns. 7.4% of SPY's money is in holdings PWRD also owns.
The two portfolios partly overlap.
16 positions in common, counted across the 28 positions we hold weights for in PWRD and 504 in SPY, against full books of 34 and 505.
What only one of them owns
Our book lists 481 positions for SPY that do not appear in our book for PWRD (91.9% of the fund), and 6 for PWRD that do not appear in SPY (19.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PWRD | Weight in SPY | Difference |
|---|---|---|---|
| GEGeneral Electric Co. | 8.60% | 0.53% | 8.07% |
| AVGOBroadcom Inc | 3.95% | 2.66% | 1.29% |
| VRTVertiv Holdings Co | 5.61% | 0.15% | 5.46% |
| ANETArista Networks Inc Common Stock | 5.38% | 0.30% | 5.08% |
| AMATApplied Materials, Inc. | 4.75% | 0.53% | 4.22% |
| UNPUnion Pacific Corp | 4.57% | 0.26% | 4.31% |
| KLACKla Corp | 4.14% | 0.34% | 3.80% |
| XOMExxon Mobil Corp. | 3.33% | 1.04% | 2.29% |
| GEVGe Vernova, Inc. | 3.41% | 0.37% | 3.04% |
| TTTrane Technologies PLC|125 | 3.48% | 0.15% | 3.33% |
61.8% of PWRD is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $66 a year on a $10,000 investment.
Which performed better, PWRD or SPY?
Over the past year PWRD returned +9.38% vs +16.73% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PWRD or SPY?
PWRD has been the more volatile fund at 23.3% annualized versus 15.6% for SPY. Worst drawdown: PWRD -25.9% vs SPY -22.1%.
Should I hold both PWRD and SPY?
PWRD and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PWRD and SPY?
61.8% of PWRD's money is in holdings SPY also owns. 7.4% of SPY's is in holdings PWRD also owns. They hold 16 positions in common, counted across the 28 positions we hold weights for in PWRD and 504 in SPY.
Which pays a higher dividend, PWRD or SPY?
PWRD yields 0.06% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PWRD?
SPY has a lower expense ratio. PWRD led over 3Y and the full window, SPY over 1Y. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.