TRFM
AAM Transformers ETF
TRFM tracks a modified equal-weighted index of US-listed companies that have the potential to transform consumer behavior and technological innovation. Companies are screened for their spending on research and development (R&D).
US
EQUITY
Rules-Based
MANAGEMENT STYLE
102.8 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Advisors Asset Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 12, 2022 |
| Assets (mns) | $103 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ADVANCED MICRO DEVICES | 1.3 % |
| APPLOVIN CORP. CLASS A | 1.1 % |
| INTL BUSINESS MACHINES CORP | 1.0 % |
| TESLA MOTORS INC | 1.0 % |
| ALPHABET INC. CLASS A | 1.0 % |
| PALANTIR TECHNOLOGIES INC. CLASS A | 1.0 % |
| NVIDIA CORP | 1.0 % |
| APPLE INC | 0.9 % |
| GE AEROSPACE | 0.9 % |
| AMAZON.COM INC | 0.9 % |
Constituent Breakdown
| Number of holdings | 202 |
| Herfindahl-Hirschman Index | 54 |
| Wgt avg mkt cap (mns) | $297,769 |
| Large cap (>$10bn) | 73.7% |
| Mid cap ($2-10bn) | 16.4% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 87.8% |
| Emerging mkts. | 7.1% |
Country Exposure
 |
UNITED STATES | 71.6 % |
 |
CHINA | 4.3 % |
 |
JAPAN | 2.2 % |
 |
ISRAEL | 2.1 % |
 |
BRITAIN | 2.1 % |
 |
NETHERLANDS | 2.0 % |
 |
IRELAND | 1.1 % |
 |
CANADA | 1.1 % |
 |
TAIWAN | 1.0 % |
 |
FRANCE | 0.9 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 34.1% | 44.6% | 41.9% | 31.3% | -- | -- | -- | 26.2% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | -- | 0.0% |
| Total Returns | 34.1% | 44.6% | 41.9% | 31.3% | -- | -- | -- | 26.2% | Ann. Volatility | 29.8% | 28.6% | 25.0% | 25.9% | -- | -- | -- | 27.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.58 | 77% |
| MSCI EAFE | 0.65 | 17% |
| MSCI Emg Mkts | 0.57 | 16% |
Liquidity Measures
| Avg. volume (000) | 12 |
| ADV traded (mns) | $1 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.07% |
Technical Indicators
| Recent close | $47.27 |
| 30d moving avg. | $49.57 |
| Annualized volatility | 23.3% |
| Relative strength (RSI) | 53 |
| Short interest | 0.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FTC | First Trust Large Cap Growth AlphaDEX Fund | 33.6% | +10 bp | +2.1% |
| FTEC | Fidelity MSCI Information Technology Index ETF | 27.4% | -41 bp | +3.9% |
| FAD | First Trust Multi Cap Growth AlphaDEX Fund | 26.9% | +15 bp | +1.2% |
| JMOM | JPMorgan U.S. Momentum Factor ETF | 26.7% | -37 bp | +4.6% |
| IGM | iShares Expanded Tech Sector ETF | 26.7% | -8 bp | +3.8% |
| FCTR | First Trust Lunt U.S. Factor Rotation ETF | 26.6% | +16 bp | +2.4% |
| FWD | AB Disruptors ETF | 26.2% | +16 bp | +3.6% |
| VGT | Vanguard Information Technology ETF | 25.8% | -40 bp | +3.9% |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | 25.8% | -4 bp | +2.5% |
| TMAT | Main Thematic Innovation ETF | 25.7% | +115 bp | -1.5% |
Risk and Returns: TRFM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/16/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
TRFM
1.3%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 998 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. TRFM's ALTAR Score™ is approximately
1.9 standard deviations
below
the category average. This places TRFM in the 3rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TRFMSELL
U/W
HOLD
O/W
BUY