TRFM vs. KROP

Last updated Jun 5, 2026

TRFM (AAM Transformers ETF) and KROP (Global X AgTech & Food Innovation ETF) are both Technology Equities funds - TRFM tracks the Pence Transformers Index - Benchmark TR Gross while KROP tracks the Solactive AgTech & Food Innovation Index. Both are passively managed. Over the past 3 years, TRFM returned 31.42%/yr vs 0.72%/yr for KROP. A 0.51 correlation means they provide meaningful diversification when combined. TRFM charges 0.49%/yr vs 0.50%/yr for KROP.

Performance

TRFM vs. KROP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Transformers ETF (TRFM) and Global X AgTech & Food Innovation ETF (KROP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRFM achieves a 29.81% return, which is significantly higher than KROP's 16.59% return.

TRFM

• 1D: -0.38%
• 1M: 10.30%
• YTD: 29.81%
• 6M: 27.54%
• 1Y: 52.18%
• 3Y*: 31.42%
• 5Y*: —
• 10Y*: —

KROP

• 1D: 0.22%
• 1M: -0.70%
• YTD: 16.59%
• 6M: 14.86%
• 1Y: 12.86%
• 3Y*: 0.72%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TRFM vs. KROP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TRFM AAM Transformers ETF	29.81%	25.76%	19.96%	44.71%	-7.38%
KROP Global X AgTech & Food Innovation ETF	16.59%	7.95%	-8.74%	-23.86%	-11.17%

Correlation

The correlation between TRFM and KROP is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022	0.51

Over the past year, the correlation between TRFM and KROP has dropped to 0.25 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

TRFM vs. KROP - Sectors Allocation Comparison

Sectors	TRFM	KROP
Technology	53.3%	-
Consumer Cyclical	17.7%	0.3%
Communication Services	12.3%	-
Industrials	7.2%	39.7%
Energy	3.5%	-
Financial Services	2.8%	-
Utilities	1.7%	-
Basic Materials	1.2%	32.1%
Healthcare	0.2%	0.3%
Consumer Defensive	-	26.3%
Real Estate	-	-

Return for Risk

TRFM vs. KROP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TRFM

TRFM Risk / Return Rank: 71
TRFM Sharpe Ratio Rank: 73
TRFM Sortino Ratio Rank: 66
TRFM Omega Ratio Rank: 63
TRFM Calmar Ratio Rank: 79
TRFM Martin Ratio Rank: 73

KROP

KROP Risk / Return Rank: 23
KROP Sharpe Ratio Rank: 24
KROP Sortino Ratio Rank: 24
KROP Omega Ratio Rank: 23
KROP Calmar Ratio Rank: 24
KROP Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TRFM vs. KROP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Transformers ETF (TRFM) and Global X AgTech & Food Innovation ETF (KROP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TRFM	KROP	Difference
Sharpe ratio: Return per unit of total volatility	2.34	0.81	+1.53
Sortino ratio: Return per unit of downside risk	2.97	1.24	+1.73
Omega ratio: Gain probability vs. loss probability	1.38	1.15	+0.23
Calmar ratio: Return relative to maximum drawdown	4.04	1.14	+2.89
Martin ratio: Return relative to average drawdown	13.69	2.58	+11.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRFM vs. KROP - Sharpe Ratio Comparison

The current TRFM Sharpe Ratio is 2.34, which is higher than the KROP Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of TRFM and KROP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRFM	KROP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	0.81	+1.53
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	-0.57	+1.62

Drawdowns

TRFM vs. KROP - Drawdown Comparison

The maximum TRFM drawdown since its inception was -28.40%, smaller than the maximum KROP drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for TRFM and KROP.

Drawdown Indicators

	TRFM	KROP	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-61.96%	+33.56%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-11.29%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	-28.70%	+0.30%
Current Drawdown Current decline from peak	-1.60%	-48.93%	+47.33%
Average Drawdown Average peak-to-trough decline	-6.61%	-44.50%	+37.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	4.99%	-1.17%

Volatility

TRFM vs. KROP - Volatility Comparison

AAM Transformers ETF (TRFM) has a higher volatility of 7.33% compared to Global X AgTech & Food Innovation ETF (KROP) at 4.69%. This indicates that TRFM's price experiences larger fluctuations and is considered to be riskier than KROP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRFM	KROP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	4.69%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	17.46%	11.98%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	22.44%	16.04%	+6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.92%	22.27%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.92%	22.27%	+4.65%

TRFM vs. KROP - Expense Ratio Comparison

TRFM has a 0.49% expense ratio, which is lower than KROP's 0.50% expense ratio.

Dividends

TRFM vs. KROP - Dividend Comparison

TRFM's dividend yield for the trailing twelve months is around 0.13%, less than KROP's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021
KROP Global X AgTech & Food Innovation ETF	2.34%	2.73%	1.89%	1.36%	0.71%	0.69%
TRFM AAM Transformers ETF	0.13%	0.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRFM and KROP in my portfolio?

TRFM and KROP have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRFM or KROP?

TRFM has higher volatility (7.33%) compared to KROP (4.69%). In terms of maximum drawdown, TRFM dropped -28.40% vs KROP's -61.96%.

Which ETF is better, TRFM or KROP?

On 3-year performance, TRFM leads with 31.42% vs 0.72% for KROP. On fees, TRFM is cheaper at 0.49% per year. On volatility, KROP has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRFM or KROP?

Over the 3-year period, TRFM has performed better with a 31.42% return vs 0.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRFM or KROP?

TRFM is cheaper with a 0.49% expense ratio, compared with 0.50% for KROP.

Which ETF pays a higher dividend yield, TRFM or KROP?

KROP has the higher dividend yield at 2.34%, compared with 0.13% for TRFM.

What is the main difference between TRFM and KROP?

TRFM tracks Pence Transformers Index - Benchmark TR Gross, while KROP tracks Solactive AgTech & Food Innovation Index. They also come from different issuers: AAM and Global X. Their fees differ too: 0.49% for TRFM and 0.50% for KROP.

Which has better risk-adjusted returns?

TRFM currently has the higher Sharpe Ratio (2.34 vs 0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.