AAM Transformers ETF (TRFM) Performance
TRFM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.0% since Dec 31, 2025
- 1 year
- +9.8% total return
- 3 years
- +28.4% a year
- Since first price
- +21.1% a year since 2022
TRFM trailing returns vs SPY, QQQ, AGG
| Period | TRFM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.6% | −8.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.3% | −6.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.7% | +0.7% | +7.8% | +8.4% | −1.5% |
| YTD | +14.0% | +14.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.8% | +9.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +111.5%+28.4%/yr | +111.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJul 11, 2022 | +126.8%+21.1%/yr | +126.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TRFM vs SPY
From Jul 11, 2022: TRFM grew to $22,678, SPY to $20,918.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TRFM returns by calendar year
3 of 3 full years positive. Best 2023 (+44.7%), worst 2024 (+20.0%). 2026 is year to date.
TRFM annual returns table
| Year | TRFM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.0% | −14.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +25.8% | −28.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +20.0% | −16.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +44.7% | −18.4% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TRFM largest drawdowns
Now 14.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 18, 2025 | −28.4% | Apr 8, 2025 | Jun 24, 2025 | 49 days | 4 months |
| Aug 15, 2022 | −26.9% | Nov 9, 2022 | Jun 13, 2023 | 3 months | 10 months |
| Jul 31, 2023 | −18.4% | Oct 27, 2023 | Dec 13, 2023 | 3 months | 4 months |
| Jul 16, 2024 | −16.1% | Aug 5, 2024 | Oct 11, 2024 | 20 days | 3 months |
| Jun 30, 2026 | −14.0% | Oct 22, 2026 | not yet | 4 months | 4 months so far |
| Jan 28, 2026 | −13.0% | Mar 30, 2026 | Apr 13, 2026 | 2 months | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TRFM risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +30.0% | +22.0% |
| Volatility (annualized) | 22.7% | 23.9% |
| Sharpe ratio | 1.08 | 0.77 |
| Sortino ratio | 2.15 | 1.39 |
| Best month | +17.6% | +17.6% |
| Worst month | −9.6% | −11.7% |
| Best 12 months | +53.8% | +53.8% |
| Worst 12 months | +2.6% | +2.6% |
| Positive months | 67% | 62% |
| Beta vs S&P 500 | 1.62 | — |
| Correlation with S&P 500 | 0.89 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TRFM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 40 | +2.6% | +26.2% | +53.8% | 100% |
| 3-year (a year) | 16 | +19.4% | +28.1% | +31.7% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
TRFM performance overview
AAM Transformers ETF (TRFM) returned +9.8% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +21.1% a year, turning $10,000 into about $22,678. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −28.4%, from Feb 18, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. TRFM finished 3 of its 3 full calendar years with a gain; the best year was 2023 (+44.7%) and the worst 2024 (+20.0%). Volatility has been 23.9% a year.
Related: TRFM chart, TRFM holdings, TRFM dividends, TRFM valuation. See the TRFM overview for the latest quote and fund facts.
TRFM performance FAQ
What is the TRFM return over the past year?
TRFM returned +9.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.6%.
How much would $10,000 invested in TRFM be worth?
$10,000 invested in TRFM at its first recorded close on July 11, 2022 would be worth about $22,678 on October 23, 2026 with distributions reinvested.
What was the worst year for TRFM?
The worst calendar year was 2024, with a total return of +20.0%. The best was 2023 at +44.7%.
What is the biggest drawdown of TRFM?
The largest peak-to-trough decline was −28.4% between February 18, 2025 and April 8, 2025. It recovered to the old high on June 24, 2025, 3 months after the bottom.
How volatile is TRFM?
Over the past 3 years TRFM had an annualized volatility of 22.7% and a Sharpe ratio of 1.08 (excess return over 1–3 month T-bills per unit of risk).