BELT vs PWRD
iShares US Select Equity Active ETF vs TCW Transform Systems ETF
Which is better, BELT or PWRD?
Each has led over a different period.
BELT led over 1Y, PWRD over the full window. PWRD is less concentrated, with 50.6% of the fund in its ten largest positions against 68.5%.
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 | BELT | PWRD |
|---|---|---|
| Expense Ratio | 0.75%Tie | 0.75%Tie |
| AUM | $10M | $1.5B |
| Dividend Yield | 0.02% | 0.06% |
| Holdings | 20 | 56 |
| Volatility (annualized) | 18.8%Best | 24.1% |
| Max Drawdown | -23.1%Best | -25.9% |
| $10,000 over 2.1 years | $13,054 | $16,304Best |
| Top 10 Weight | 68.5% | 50.6%Best |
| Fund Family | BlackRock, Inc. (US) | TCW ETFs |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 17, 2024 | Feb 2, 2022 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 63 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BELT has data through Aug 12, 2026 and PWRD through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Jun 18, 2024 to Aug 12, 2026 (2.1 years).
Risk: Volatility and Drawdowns
PWRD has been the more volatile fund, with annualized monthly volatility of 24.1% compared with 18.8% for BELT. 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 -23.1% for BELT and -25.9% for PWRD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BELT charges 0.75% per year while PWRD charges 0.75%. On a $10,000 position that is $75 vs $75 annually. On income, BELT currently yields 0.02% against 0.06% for PWRD.
Holdings Overlap
17.9% of BELT's money is in holdings PWRD also owns. 11.3% of PWRD's money is in holdings BELT also owns.
BELT and PWRD share little of their money.
The two holdings books were reported 57 days apart, BELT as of Aug 5, 2026 and PWRD as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
3 positions in common, counted across the 19 positions we hold weights for in BELT and 28 in PWRD, against full books of 20 and 56.
What only one of them owns
Our book lists 19 positions for PWRD that do not appear in our book for BELT (70.1% of the fund), and 14 for BELT that do not appear in PWRD (72.9%).
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.
You are not choosing between two funds in isolation.
Whichever of BELT and PWRD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BELT or PWRD?
BELT has an expense ratio of 0.75% while PWRD charges 0.75%. At the precision these are quoted to, they cost the same.
Which is riskier, BELT or PWRD?
PWRD has been the more volatile fund at 24.1% annualized versus 18.8% for BELT. Worst drawdown: BELT -23.1% vs PWRD -25.9%.
Should I hold both BELT and PWRD?
BELT and PWRD have a monthly-return correlation of 0.81, 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 BELT and PWRD?
17.9% of BELT's money is in holdings PWRD also owns. 11.3% of PWRD's is in holdings BELT also owns. They hold 3 positions in common, counted across the 19 positions we hold weights for in BELT and 28 in PWRD.
Which pays a higher dividend, BELT or PWRD?
BELT yields 0.02% while PWRD yields 0.06%, so PWRD currently pays the higher dividend yield.
Is PWRD better than BELT?
BELT led over 1Y, PWRD over the full window. PWRD is less concentrated, with 50.6% of the fund in its ten largest positions against 68.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.