TCW Transform Systems ETF Crosses $1 Billion in Assets

The actively managed ETF focused on the energy transformation has seen strong investor demand and performance.

Published on Feb. 4, 2026

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The TCW Group announced that its TCW Transform Systems ETF (PWRD) has surpassed $1 billion in assets under management, reflecting 200% growth since January 2025 and a 32.58% annual return in 2025 that made it the top-performing exchange-traded fund in its peer group.

Why it matters

The rapid growth and strong performance of PWRD highlights the increasing investor appetite for actively managed funds that provide exposure to companies driving the energy transformation, a critical theme shaping the future of multiple industries.

The details

PWRD is an actively managed ETF that invests in companies across sectors like industrials, energy, materials, and technology that are driving or benefiting from the shift in how energy and power are sourced, produced, transported, and consumed. The fund has a five-star medalist rating from Morningstar and has posted a cumulative return of 97.02% since its inception in February 2022, outperforming the S&P 500 by a wide margin.

  • PWRD marked its four-year anniversary in February 2026.
  • PWRD reached $1 billion in assets under management as of February 2, 2026.

The players

TCW Group

A leading global investment firm that manages the TCW Transform Systems ETF (PWRD).

Eli Horton

Portfolio Manager of the TCW Transform Systems ETF (PWRD).

Scott Dennis

Head of ETFs at TCW.

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What they’re saying

“PWRD is designed to provide exposure to leading companies across the most critical themes shaping the energy transformation including accelerating power demand, sustained investment in the electric grid, and efficiency gains across end-use applications such as transportation and buildings.”

— Eli Horton, Portfolio Manager of PWRD

“This announcement underscores the confidence investors have in our ETF platform. The momentum from 2025 reinforces our conviction in active management, and we look forward to continuing to apply our disciplined approach across fixed income and thematic equities as markets evolve in the year ahead.”

— Scott Dennis, Head of ETFs at TCW

What’s next

The TCW Group plans to continue expanding its actively managed ETF offerings across equities and fixed income to capitalize on investor demand for thematic and specialized investment strategies.

The takeaway

The rapid growth and strong performance of the TCW Transform Systems ETF demonstrates the growing investor appetite for actively managed funds that provide exposure to the companies and themes driving the critical energy transformation across multiple industries.