TCW Compounders ETF

TCW Compounders ETF (GRW) is an actively managed fund from TCW that holds a concentrated portfolio of 20 to 40 "durable growth" stocks, led by TransDigm, Broadcom and General Electric as of July 31, 2026. It is a "non-diversified" fund, so it can put more of its money into a single company than most stock funds can. It costs 0.75% a year and paid no distributions in the year to October 27, 2026.

• Over the year to Oct 27, 2026, GRW returned -3.8%.
• Its worst full calendar year was 2025 (-5.1%); its best was 2025 (-5.1%).
• The deepest fall in its price history was 23.8% (Jul 3, 2025 to Mar 30, 2026), not yet recovered.

As of Jul 31, 2026, the fund held 30 securities; the ten largest made up 49.32% of assets.

By sector

• Over the three months to Jul 31, 2026, investors withdrew a net $10.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.20%, +1.96%, -1.88%.

GRW does not track an index. TCW's managers pick stocks they believe will gain from economic change driven by new technology, shifting markets and changing customer preferences. They call these "durable growth" companies, meaning businesses with long-term growth, quality and staying power, or firms that help other companies make the same shift. To find them, the managers use TCW's own framework. It combines company research, such as financial models and valuation work, with quantitative and thematic data. The goal is to find companies with competitive advantages whose shares look attractively priced. The managers also weigh financially material environmental, social and governance risks, but these are not the main basis for decisions.

The fund focuses on large companies but can buy firms of any size, both US-listed and foreign. It may also hold depositary receipts and PIPEs (shares bought directly from a public company in a private deal). It usually keeps part of its money in financial companies. It expects to own 20 to 40 stocks. As of July 31, 2026, it held 30, and the top 10 made up about 49% of assets. The prospectus sets no fixed rebalancing schedule. Position sizes reflect the managers' judgment, and portfolio turnover was 46%.

The fund uses no leverage or options. It may lend out up to one-third of its assets, but TCW puts voting its shares first, so it may give up some lending income.

• GRW charges 0.75% a year.
• Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $967 over 10 years (assuming a 5% annual return).

GRW is a concentrated, actively managed portfolio of about 30 growth stocks, better suited to sit beside a broad core holding than to replace one.

GRW could add a focused set of growth companies to a broader stock allocation, but it won't steady a portfolio. It launched in 2016, after the 2008 crisis. It gained 27.76% in 2020. Its worst calendar year was 2022, when it lost 22.05%, including a 16.6% drop in the first quarter alone. Its deepest price drop on record was 23.8%, from July 3, 2025, to March 30, 2026. As of October 27, 2026, it had not climbed back to that peak. Anyone who had to sell during that stretch would have locked in losses. It paid no distributions in the year to October 27, 2026, so it provides no income. It costs 0.75% a year, or $77 in the first year on $10,000 under the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.

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