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
$ 328.4 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Inception date | Jul 12, 2022 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| DATADOG INC CLASS A | 0.9 % |
| CROWDSTRIKE HOLDINGS, INC. CLASS A | 0.9 % |
| PALO ALTO NETWORKS INC | 0.9 % |
| ADVANCED MICRO DEVICES | 0.9 % |
| TEXAS INSTRUMENTS INC | 0.9 % |
| FORTINET INC | 0.8 % |
| CLOUDFLARE INC CLASS A | 0.8 % |
| PALANTIR TECHNOLOGIES INC. CLASS A | 0.8 % |
| VISA INC. CLASS A | 0.8 % |
| APPLE INC | 0.8 % |
Constituent Breakdown
| Number of holdings | 247 |
| Herfindahl-Hirschman Index | 51 |
| Wgt avg mkt cap (mns) | $319,536 |
| Large cap (>$10bn) | 80.6% |
| Mid cap ($2-10bn) | 13.0% |
| Small cap (<$2bn) | 0.4% |
| Developed mkts. | 89.0% |
| Emerging mkts. | 5.6% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 75.3 % |
 |
CHINA | 3.0 % |
 |
NETHERLANDS | 1.9 % |
 |
BRITAIN | 1.5 % |
 |
CANADA | 1.4 % |
 |
TAIWAN | 1.3 % |
 |
JAPAN | 1.2 % |
 |
IRELAND | 1.1 % |
 |
GERMANY | 1.1 % |
 |
ISRAEL | 1.0 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 24.0% | 22.0% | 30.2% | 29.9% | -- | -- | -- | 24.3% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | -- | 0.0% |
| Total Returns | 24.0% | 22.0% | 30.2% | 29.9% | -- | -- | -- | 24.3% | Ann. Volatility | 26.8% | 26.1% | 27.1% | 25.4% | -- | -- | -- | 27.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.76 | 77% |
| MSCI EAFE | 1.20 | 53% |
| MSCI Emg Mkts | 0.87 | 72% |
Liquidity Measures
| Avg. volume (000) | 63 |
| ADV traded (mns) | $4 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.05% |
Technical Indicators
| 30d moving avg. (EMA) | $58.03 |
| Relative strength (RSI) | 39 |
| MACD/Signal | -1.15/-0.61 |
| Bollinger Bands (Upper/Lower) | $62.90/$53.86 |
| Short interest (% of AUM) | 0.2% |
Distributions
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. TRFM |
Expenses vs. TRFM |
ALTAR Score™ vs. TRFM |
|---|---|---|---|---|
| FTC | First Trust Large Cap Growth AlphaDEX Fund | 34.9% | +9 bp | +0.4% |
| FWD | AB Disruptors ETF | 33.3% | +16 bp | +1.4% |
| JMOM | JPMorgan U.S. Momentum Factor ETF | 32.7% | -37 bp | +1.7% |
| QQQE | Direxion NASDAQ-100 Equal Weighted Index Shares | 32.3% | -14 bp | +1.2% |
| ALTL | Pacer Lunt Large Cap Alternator ETF | 30.6% | +11 bp | +4.1% |
| IGM | iShares Expanded Tech Sector ETF | 29.0% | -12 bp | +1.6% |
| GGUS | Marketbeta Russell 1000 Growth Equity ETF | 28.8% | -37 bp | +2.3% |
| ILCG | iShares Morningstar Growth ETF | 28.8% | -45 bp | +1.7% |
| NYSX | Global X NYSE 100 ETF | 28.7% | -40 bp | +2.1% |
| FTEC | Fidelity MSCI Information Technology Index ETF | 28.2% | -41 bp | +1.9% |
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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 10/28/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
2.5%
ALTAR SCORE™
8th
PERCENTILE
AVOID
ETFRC RATING
There are 1,391 funds in the US Equity category with an average
ALTAR Score™ of 5.5% and a standard deviation
of 2.1%. TRFM's ALTAR Score™ is approximately -1.4 standard
deviations above the category average. This places TRFM in the 8th percentile
among funds in the category.
Sell-Side Consensus
$73.75
PRICE TARGET
+31.4%
UPSIDE