TRFM vs. SAWG

Last updated Jun 4, 2026

TRFM (AAM Transformers ETF) and SAWG (AAM Sawgrass U.S. Large Cap Quality Growth ETF) are both exchange-traded funds - TRFM is a Technology Equities fund tracking the Pence Transformers Index - Benchmark TR Gross, while SAWG is a Large Cap Growth Equities fund actively managed by AAM. TRFM is passively managed, while SAWG is actively managed. Over the past year, TRFM returned 53.69% vs 21.77% for SAWG. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.49% expense ratio.

Performance

TRFM vs. SAWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Transformers ETF (TRFM) and AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRFM achieves a 30.30% return, which is significantly higher than SAWG's 8.93% return.

TRFM

• 1D: -1.23%
• 1M: 12.40%
• YTD: 30.30%
• 6M: 29.25%
• 1Y: 53.69%
• 3Y*: 31.63%
• 5Y*: —
• 10Y*: —

SAWG

• 1D: 0.17%
• 1M: 5.57%
• YTD: 8.93%
• 6M: 8.16%
• 1Y: 21.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRFM vs. SAWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TRFM AAM Transformers ETF	30.30%	25.76%	13.80%
SAWG AAM Sawgrass U.S. Large Cap Quality Growth ETF	8.93%	11.30%	5.66%

Correlation

The correlation between TRFM and SAWG is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.81

The correlation between TRFM and SAWG has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

TRFM vs. SAWG - Sectors Allocation Comparison

Sectors	TRFM	SAWG
Technology	53.3%	43.3%
Consumer Cyclical	17.7%	13.0%
Communication Services	12.3%	9.0%
Industrials	7.2%	7.4%
Energy	3.5%	-
Financial Services	2.8%	7.7%
Utilities	1.7%	-
Basic Materials	1.2%	-
Healthcare	0.2%	15.8%
Consumer Defensive	-	3.8%
Real Estate	-	-

Return for Risk

TRFM vs. SAWG — 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: 74
TRFM Sortino Ratio Rank: 65
TRFM Omega Ratio Rank: 64
TRFM Calmar Ratio Rank: 80
TRFM Martin Ratio Rank: 74

SAWG

SAWG Risk / Return Rank: 48
SAWG Sharpe Ratio Rank: 52
SAWG Sortino Ratio Rank: 52
SAWG Omega Ratio Rank: 49
SAWG Calmar Ratio Rank: 40
SAWG Martin Ratio Rank: 49

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. SAWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Transformers ETF (TRFM) and AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG). 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	SAWG	Difference
Sharpe ratio Return per unit of total volatility	2.41	1.76	+0.64
Sortino ratio Return per unit of downside risk	3.04	2.48	+0.56
Omega ratio Gain probability vs. loss probability	1.39	1.31	+0.08
Calmar ratio Return relative to maximum drawdown	4.15	1.93	+2.22
Martin ratio Return relative to average drawdown	14.09	8.05	+6.04
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. SAWG - Sharpe Ratio Comparison

The current TRFM Sharpe Ratio is 2.41, which is higher than the SAWG Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of TRFM and SAWG, 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	SAWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.76	+0.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.90	+0.16

Drawdowns

TRFM vs. SAWG - Drawdown Comparison

The maximum TRFM drawdown since its inception was -28.40%, which is greater than SAWG's maximum drawdown of -18.68%. Use the drawdown chart below to compare losses from any high point for TRFM and SAWG.

Drawdown Indicators

	TRFM	SAWG	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-18.68%	-9.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-11.33%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	—	—
Current Drawdown Current decline from peak	-1.23%	-0.27%	-0.96%
Average Drawdown Average peak-to-trough decline	-6.61%	-2.66%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	2.71%	+1.11%

Volatility

TRFM vs. SAWG - Volatility Comparison

AAM Transformers ETF (TRFM) has a higher volatility of 7.34% compared to AAM Sawgrass U.S. Large Cap Quality Growth ETF (SAWG) at 3.58%. This indicates that TRFM's price experiences larger fluctuations and is considered to be riskier than SAWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRFM	SAWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	3.58%	+3.76%
Volatility (6M) Calculated over the trailing 6-month period	17.46%	9.69%	+7.77%
Volatility (1Y) Calculated over the trailing 1-year period	22.47%	12.40%	+10.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	16.21%	+10.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.94%	16.21%	+10.73%

TRFM vs. SAWG - Expense Ratio Comparison

Both TRFM and SAWG have an expense ratio of 0.49%.

Dividends

TRFM vs. SAWG - Dividend Comparison

TRFM's dividend yield for the trailing twelve months is around 0.13%, less than SAWG's 0.25% yield.

Position	TTM	2025	2024
SAWG AAM Sawgrass U.S. Large Cap Quality Growth ETF	0.25%	0.27%	0.16%
TRFM AAM Transformers ETF	0.13%	0.17%	0.00%

Frequently Asked Questions

Can I hold both TRFM and SAWG in my portfolio?

TRFM and SAWG have a correlation of 0.80, 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 SAWG?

TRFM has higher volatility (7.34%) compared to SAWG (3.58%). In terms of maximum drawdown, TRFM dropped -28.40% vs SAWG's -18.68%.

Which ETF is better, TRFM or SAWG?

On 1-year performance, TRFM leads with 53.69% vs 21.77% for SAWG. Both ETFs have the same 0.49% expense ratio. On volatility, SAWG has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRFM or SAWG?

Over the 1-year period, TRFM has performed better with a 53.69% return vs 21.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRFM or SAWG?

TRFM and SAWG have the same expense ratio: 0.49% per year.

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

SAWG has the higher dividend yield at 0.25%, compared with 0.13% for TRFM.

What is the main difference between TRFM and SAWG?

TRFM is categorized as Technology Equities, while SAWG is Large Cap Growth Equities.

Which has better risk-adjusted returns?

TRFM currently has the higher Sharpe Ratio (2.41 vs 1.76), 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.