GARP vs PWRD: Differences, Returns & Fees
GARP and PWRD hold 10% of their weight in the same names, and GARP returned +22.3% over the year. Net assets: $3.6bn on Oct 20, 2026 for iShares MSCI USA Quality GARP ETF, and $1.5bn on Jul 31, 2026 for TCW Transform Systems ETF.
GARP costs 0.60 points a year less; their one-year returns differ by 23.5 points; GARP is 1.8 times larger.
| GARP | PWRD | |
|---|---|---|
| Expense ratio | 0.15% | 0.75% |
| Net assets, as of Jul 31, 2026 | $2.6bn | $1.5bn |
| Total return, 1 year | +22.3% | −1.2% |
| What it tracks | MSCI USA Quality GARP Select Index | No index, actively managed |
| Holdings in common | 10% | |
| Top ten holdings, share of the fund | 44.0% | 52.0% |
| Below its high | 6.7%, high on Oct 6, 2026 | 20.1%, high on Jun 30, 2026 |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 19, 2026.
GARP and PWRD are built for the same job. How do they differ in cost, holdings and results?
- What each follows. GARP follows MSCI USA Quality GARP Select Index and PWRD follows No index, actively managed.
- Holdings in common. 10% of the weight is in the same securities (holdings dated Oct 19, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 GARP returned +22.3% and PWRD −1.2% with distributions reinvested, a gap of 23.5 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, GARP and PWRD hold 10% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 19, 2026.
half
10% in common
On the same fields
GARP and PWRD on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About GARP
GARP tracks the MSCI USA Quality GARP. Over the year to Oct 20, 2026 it returned +22.3% with distributions reinvested, against +15.4% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 19, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 44.0%. It sat 6.7% below its high of Oct 6, 2026 on Oct 20, 2026.
About PWRD
PWRD is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned −1.2% with distributions reinvested. The prospectus expense ratio is 0.75% a year. By its holdings filed for Jul 31, 2026, 57% of the fund by weight is stocks the S&P 500 also holds, across 31 positions, with the top ten at 52.0%. It sat 20.1% below its high of Jun 30, 2026 on Oct 20, 2026.
Questions people ask
- Which returned more over the last year, GARP or PWRD?
- In the year to Oct 20, 2026, with distributions reinvested, GARP returned +22.3% and PWRD −1.2%.
- Which is cheaper, GARP or PWRD?
- GARP is cheaper, by 0.60 percentage points a year. That is about $60 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, GARP against PWRD, data as of Oct 20, 2026. https://etfiq.com/compare/any/garp-vs-pwrd
ETFIQ. (Oct 20, 2026). GARP against PWRD. Retrieved from https://etfiq.com/compare/any/garp-vs-pwrd
[GARP against PWRD (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/garp-vs-pwrd)
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