SPY vs TRFM
State Street SPDR S&P 500 ETF Trust vs AAM Transformers ETF
Which is better, SPY or TRFM?
TRFM has been ahead.
SPY has a lower expense ratio. TRFM led over 1Y, 3Y and the full window. TRFM is less concentrated, with 8.5% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | TRFM |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.49% |
| AUM | $811.2B | $287M |
| Dividend Yield | 0.98% | 0.14% |
| Holdings | 1,515 | 310 |
| YTD Return | +14.79% | +22.88%Best |
| 1Y Return | +18.62% | +20.93%Best |
| 3Y Return (annualized) | +23.21% | +30.77%Best |
| 5Y Return (annualized) | +13.92% | - |
| Volatility (annualized) | 14.2%Best | 23.6% |
| Max Drawdown | -18.8%Best | -28.4% |
| $10,000 over 4.3 years | $21,800 | $25,561Best |
| Top 10 Weight | 38.2% | 8.5%Best |
| Fund Family | State Street Investment Management | Advisors Asset Management, Inc. |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jul 11, 2022 |
Volatility and max drawdown, and the $10,000 over 4.3 years row, are measured over the window both funds cover: Jul 12, 2022 to Oct 12, 2026 (4.3 years).
SPY vs TRFM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.3 years both funds cover.
SPY vs TRFM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and AAM Transformers ETF (TRFM) is an ETF from Advisors Asset Management, Inc.. Over the past year SPY returned +18.62% while TRFM returned +20.93%. Year to date, SPY is up 14.79% versus a gain of 22.88% for TRFM.
Over three years, SPY compounded at +23.21% per year against +30.77% for TRFM. Across the full 4-year window we track, TRFM has the edge at +24.39% annualized vs +19.87%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TRFM has been the more volatile fund, with annualized monthly volatility of 23.6% compared with 14.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.8% for SPY and -28.4% for TRFM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TRFM charges 0.49%. On a $10,000 position that is $9 vs $49 annually, a gap of $40 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.14% for TRFM.
Holdings Overlap
51.5% of SPY's money is in holdings TRFM also owns. 47.9% of TRFM's money is in holdings SPY also owns.
The two portfolios partly overlap.
87 positions in common, counted across the 504 positions we hold weights for in SPY and 309 in TRFM, against full books of 1,515 and 310.
What only one of them owns
Our book lists 162 positions for TRFM that do not appear in our book for SPY (36.3% of the fund), and 410 for SPY that do not appear in TRFM (47.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TRFM | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.78% | 0.61% | 7.17% |
| AAPLApple, Inc | 7.45% | 0.64% | 6.81% |
| MSFTMicrosoft Corp | 5.71% | 0.70% | 5.01% |
| AMZNAmazon.Com Inc | 3.78% | 0.60% | 3.18% |
| GOOGLAlphabet Inc,class A | 3.12% | 0.54% | 2.58% |
| AVGOBroadcom Inc | 2.48% | 0.52% | 1.96% |
| METAMeta Platforms Inc | 2.22% | 0.62% | 1.60% |
| MUMicron Technology, Inc. | 1.59% | 0.60% | 0.99% |
| TSLATesla Inc | 1.54% | 0.53% | 1.01% |
| AMDAdvanced Micro Devices Inc | 1.22% | 0.58% | 0.64% |
51.5% of SPY is already inside TRFM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or TRFM?
SPY has an expense ratio of 0.09% while TRFM charges 0.49%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, SPY or TRFM?
Over the past year SPY returned +18.62% vs +20.93% for TRFM, so TRFM leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +19.87% vs +24.39% for TRFM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TRFM?
TRFM has been the more volatile fund at 23.6% annualized versus 14.2% for SPY. Worst drawdown: SPY -18.8% vs TRFM -28.4%.
Should I hold both SPY and TRFM?
SPY and TRFM have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and TRFM?
51.5% of SPY's money is in holdings TRFM also owns. 47.9% of TRFM's is in holdings SPY also owns. They hold 87 positions in common, counted across the 504 positions we hold weights for in SPY and 309 in TRFM.
Which pays a higher dividend, SPY or TRFM?
SPY yields 0.98% while TRFM yields 0.14%, so SPY currently pays the higher dividend yield.
Is TRFM better than SPY?
SPY has a lower expense ratio. TRFM led over 1Y, 3Y and the full window. TRFM is less concentrated, with 8.5% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.