TRFM vs. TSXU

Last updated Jun 25, 2026

TRFM (AAM Transformers ETF) and TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) are both exchange-traded funds - TRFM is a Technology Equities fund tracking the Pence Transformers Index - Benchmark TR Gross, while TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x). Both are passively managed. Their correlation of 0.81 suggests significant overlap in exposure. TRFM charges 0.49%/yr vs 1.05%/yr for TSXU.

Performance

TRFM vs. TSXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Transformers ETF (TRFM) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRFM achieves a 26.82% return, which is significantly lower than TSXU's 113.86% return.

TRFM

• 1D: -0.28%
• 1M: 3.37%
• YTD: 26.82%
• 6M: 24.89%
• 1Y: 43.37%
• 3Y*: 29.94%
• 5Y*: —
• 10Y*: —

TSXU

• 1D: -0.02%
• 1M: 19.91%
• YTD: 113.86%
• 6M: 113.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRFM vs. TSXU - Yearly Performance Comparison

	2026 (YTD)	2025
TRFM AAM Transformers ETF	26.82%	-1.45%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	113.86%	37.96%

Correlation

The correlation between TRFM and TSXU is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.81

Return for Risk

TRFM vs. TSXU — Risk / Return Rank

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

TRFM

TRFM Risk / Return Rank: 62
TRFM Sharpe Ratio Rank: 61
TRFM Sortino Ratio Rank: 54
TRFM Omega Ratio Rank: 55
TRFM Calmar Ratio Rank: 74
TRFM Martin Ratio Rank: 67

TSXU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TSXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Transformers ETF (TRFM) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). 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	TSXU	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.33	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.36	—	—
Martin ratio: Return relative to average drawdown	10.85	—	—

Drawdowns

TRFM vs. TSXU - Drawdown Comparison

The maximum TRFM drawdown since its inception was -28.40%, smaller than the maximum TSXU drawdown of -35.62%. Use the drawdown chart below to compare losses from any high point for TRFM and TSXU.

Drawdown Indicators

	TRFM	TSXU	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-35.62%	+7.22%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	—	—
Current Drawdown Current decline from peak	-3.87%	-13.54%	+9.67%
Average Drawdown Average peak-to-trough decline	-6.58%	-10.68%	+4.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	—	—

Volatility

Volatility by Period

	TRFM	TSXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.43%	89.41%	-64.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.26%	89.41%	-62.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.26%	89.41%	-62.15%

TRFM vs. TSXU - Expense Ratio Comparison

TRFM has a 0.49% expense ratio, which is lower than TSXU's 1.05% expense ratio.

Dividends

TRFM vs. TSXU - Dividend Comparison

TRFM's dividend yield for the trailing twelve months is around 0.13%, less than TSXU's 1.64% yield.

Position	TTM	2025
TRFM AAM Transformers ETF	0.13%	0.17%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.64%	2.54%

Frequently Asked Questions

Can I hold both TRFM and TSXU in my portfolio?

TRFM and TSXU have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRFM or TSXU?

On fees, TRFM is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRFM or TSXU?

TRFM is cheaper with a 0.49% expense ratio, compared with 1.05% for TSXU.

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

TSXU has the higher dividend yield at 1.64%, compared with 0.13% for TRFM.

What is the main difference between TRFM and TSXU?

TRFM is categorized as Technology Equities, while TSXU is Leveraged Equities. TRFM tracks Pence Transformers Index - Benchmark TR Gross, while TSXU tracks Solactive Semiconductor Top 5 Index (2x). They also come from different issuers: AAM and Direxion. Their fees differ too: 0.49% for TRFM and 1.05% for TSXU.