TRFM vs. TIIV

Last updated Aug 4, 2026

TRFM (AAM Transformers ETF) and TIIV (AAM Todd International Intrinsic Value ETF) are both exchange-traded funds - TRFM is a Technology Equities fund tracking the Pence Transformers Index - Benchmark TR Gross, while TIIV is a Actively Managed fund actively managed by AAM. TRFM is passively managed, while TIIV is actively managed. Over the past year, TRFM returned 36.82% vs 32.01% for TIIV. Their 0.67 correlation means they have sometimes moved together and sometimes differently. TRFM charges 0.49%/yr vs 0.54%/yr for TIIV.

Performance

TRFM vs. TIIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Transformers ETF (TRFM) and AAM Todd International Intrinsic Value ETF (TIIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRFM achieves a 23.78% return, which is significantly higher than TIIV's 15.09% return.

TRFM

• 1D: 2.06%
• 1M: -3.36%
• 6M: 18.96%
• YTD: 23.78%
• 1Y: 36.82%
• 3Y*: 26.86%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.50%

TIIV

• 1D: 0.50%
• 1M: 4.26%
• 6M: 7.14%
• YTD: 15.09%
• 1Y: 32.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TIIV AAM Todd International Intrinsic Value ETF	$21.50K	$15.30K	$75.27K
TRFM AAM Transformers ETF	$2.70M	$2.28M	$2.00M

TRFM vs. TIIV - Yearly Performance Comparison

	2026 (YTD)	2025
TRFM AAM Transformers ETF	23.78%	8.07%
TIIV AAM Todd International Intrinsic Value ETF	15.09%	10.83%

Correlation

The correlation between TRFM and TIIV is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.67

The correlation between TRFM and TIIV has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

Return for Risk

TRFM vs. TIIV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TRFM

TRFM Risk / Return Rank: 60
TRFM Sharpe Ratio Rank: 57
TRFM Sortino Ratio Rank: 53
TRFM Omega Ratio Rank: 51
TRFM Calmar Ratio Rank: 76
TRFM Martin Ratio Rank: 64

TIIV

TIIV Risk / Return Rank: 84
TIIV Sharpe Ratio Rank: 86
TIIV Sortino Ratio Rank: 87
TIIV Omega Ratio Rank: 86
TIIV Calmar Ratio Rank: 82
TIIV Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TRFM vs. TIIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Transformers ETF (TRFM) and AAM Todd International Intrinsic Value ETF (TIIV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TRFM	TIIV	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.23	-0.78
Sortino ratio: Return per unit of downside risk	1.97	3.21	-1.24
Omega ratio: Gain probability vs. loss probability	1.24	1.41	-0.17
Calmar ratio: Return relative to maximum drawdown	2.85	3.32	-0.47
Martin ratio: Return relative to average drawdown	8.14	11.59	-3.45

TRFM vs. TIIV - Sharpe Ratio Comparison

The current TRFM Sharpe Ratio is 1.45, which is lower than the TIIV Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of TRFM and TIIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TRFM vs. TIIV - Drawdown Comparison

The maximum TRFM drawdown since its inception was -28.40%, which is greater than TIIV's maximum drawdown of -9.68%. Use the drawdown chart below to compare losses from any high point for TRFM and TIIV.

Drawdown Indicators

	TRFM	TIIV	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-9.68%	-18.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-9.68%	-3.31%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	—	—
Current Drawdown Current decline from peak	-6.63%	0.00%	-6.63%
Average Drawdown Average peak-to-trough decline	-6.56%	-1.77%	-4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	2.77%	+1.77%

Volatility

TRFM vs. TIIV - Volatility Comparison

AAM Transformers ETF (TRFM) has a higher volatility of 7.91% compared to AAM Todd International Intrinsic Value ETF (TIIV) at 3.77%. This indicates that TRFM's price experiences larger fluctuations and is considered to be riskier than TIIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRFM	TIIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.91%	3.77%	+4.14%
Volatility (6M) Calculated over the trailing 6-month period	20.73%	12.06%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	25.59%	14.46%	+11.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.27%	14.50%	+12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.27%	14.50%	+12.77%

TRFM vs. TIIV - Expense Ratio Comparison

TRFM has a 0.49% expense ratio, which is lower than TIIV's 0.54% expense ratio.

Dividends

TRFM vs. TIIV - Dividend Comparison

TRFM's dividend yield for the trailing twelve months is around 0.14%, less than TIIV's 3.09% yield.

Position	TTM	2025
TIIV AAM Todd International Intrinsic Value ETF	3.09%	2.33%
TRFM AAM Transformers ETF	0.14%	0.17%

Frequently Asked Questions

Can I hold both TRFM and TIIV in my portfolio?

TRFM and TIIV have a correlation of 0.67, 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 TIIV?

TRFM has higher volatility (7.91%) compared to TIIV (3.77%). In terms of maximum drawdown, TRFM dropped -28.40% vs TIIV's -9.68%.

Which ETF is better, TRFM or TIIV?

On 1-year performance, TRFM leads with 36.82% vs 32.01% for TIIV. On fees, TRFM is cheaper at 0.49% per year. On volatility, TIIV has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRFM or TIIV?

Over the 1-year period, TRFM has performed better with a 36.82% return vs 32.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRFM or TIIV?

TRFM is cheaper with a 0.49% expense ratio, compared with 0.54% for TIIV.

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

TIIV has the higher dividend yield at 3.09%, compared with 0.14% for TRFM.

What is the main difference between TRFM and TIIV?

TRFM is categorized as Technology Equities, while TIIV is Actively Managed. Their fees differ too: 0.49% for TRFM and 0.54% for TIIV.

Which has better risk-adjusted returns?

TIIV currently has the higher Sharpe Ratio (2.23 vs 1.45), 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.