Do COPA and TRFM hold the same stocks?

By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, COPA or TRFM?

COPA has 9% of its weight in S&P 500 names and TRFM has 47%, so COPA differs more from the index.

Which is cheaper, COPA or TRFM?

COPA charges 0.35% a year and TRFM charges 0.49%, so COPA is cheaper. Fees come from each fund's prospectus.

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COPA vs TRFM: which is really different?

COPA and TRFM hold 0% of their weight in the same names, and COPA returned +47.6% over the year. Themes Copper Miners ETF and AAM Transformers ETF.

8.6%

COPA in the S&P 500

46.8%

TRFM in the S&P 500

+47.6%

COPA total return, 1 year

+22.2%

TRFM total return, 1 year

COPA · 1 year to Sep 30, 202691% of its weight is outside the S&P 500

9% of COPA's weight is in S&P 500 companies and 91% is outside the index

TRFM · 1 year to Sep 30, 202653% of its weight is outside the S&P 500

47% of TRFM's weight is in S&P 500 companies and 53% is outside the index

ETFIQ Off-Index Score · COPA scores higherHow much of it is not the index it is sold as an alternative to?

COPA 82.3

TRFM 9.6

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, COPA and TRFM hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and Jun 30, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding COPA TRFM

LunR Royalties Corp 1.30% 0.28%

Only in COPA

Freeport-McMoRan Inc 8.57%

Glencore PLC 4.46%

Hudbay Minerals Inc 4.35%

BHP Group Ltd 4.08%

Jiujiang Defu Technology Co Lt 3.78%

First Quantum Minerals Ltd 3.52%

Anglo American PLC 3.50%

Lundin Mining Corp 3.37%

Only in TRFM

Advanced Micro Devices Inc 1.14%

Bloom Energy Corp 1.14%

Sandisk Corp/DE 1.13%

Seagate Technology Holdings PL 1.03%

Marvell Technology Inc 1.00%

Ciena Corp 0.97%

Western Digital Corp 0.96%

Texas Instruments Inc 0.90%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

0% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	COPA	TRFM	COPA	TRFM	COPA	TRFM
3 months	+10.3%	−5.0%	+7.8 pts	−7.5 pts	+8.2 pts	−7.2 pts
6 months	+17.5%	+24.8%	+0.6 pts	+7.8 pts	−9.3 pts	−2.1 pts
1 year	+47.6%	+22.2%	+31.9 pts	+6.5 pts	+23.8 pts	−1.6 pts
3 years	not published	+119.6%	not published	+34.6 pts	not published	+9.6 pts
Since launch COPA Sep 2024 · TRFM Jul 2022	+108.5%	+150.8%	+72.0 pts	+39.0 pts	+54.6 pts	−14.3 pts

COPA and TRFM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

COPA

Themes Copper Miners ETF · Holds 49 stocks in copper, 9% of its weight in S&P 500 companies

TRFM

AAM Transformers ETF · Holds 310 stocks in electrification and the grid, 47% of its weight in S&P 500 companies

Issuer Themes AAM

Theme Copper Electrification and the grid

In the S&P 500 8.6% 46.8%

Active share vs the S&P 500 99.9% 79.2%

In the Nasdaq-100 0.0% 27.5%

Holdings 49 310

Top ten, share of the fund 42.1% 8.1%

Expense ratio 0.35% 0.49%

Fee for the differing part 0.35% 0.62%

Total return, 1 year +47.6% +22.2%

vs the S&P 500 +31.9 pts +6.5 pts

vs the Nasdaq-100 +23.8 pts −1.6 pts

Below its high −10.9% −6.4%

Net assets $13m $248m

COPA and TRFM on the same fields, as of Sep 30, 2026. Source: ETFIQ.

COPA in plain words

By weight, 9% of COPA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 42% of the fund across 49 positions, as filed for Jun 30, 2026. Over the year to Sep 30, 2026 the fund returned +47.6% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 31.9 pts. It sits 10.9% below its all-time high of Aug 27, 2026.

TRFM in plain words

By weight, 47% of TRFM's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 79%. The top ten holdings are 8% of the fund across 310 positions, as filed for Apr 30, 2026. Over the year to Sep 30, 2026 the fund returned +22.2% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 6.5 pts. It sits 6.4% below its all-time high of Jun 30, 2026.

Questions people ask

Do COPA and TRFM hold the same stocks?: By their latest filings, 0% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, COPA or TRFM?: COPA has 9% of its weight in S&P 500 names and TRFM has 47%, so COPA differs more from the index.
Which is cheaper, COPA or TRFM?: COPA charges 0.35% a year and TRFM charges 0.49%, so COPA is cheaper. Fees come from each fund's prospectus.

Other comparisons

COPA vs POWR COPA vs ZAP COPA vs COPJ COPA vs COPP TRFM vs COPJ TRFM vs VOLT TRFM vs ZAP TRFM vs COPP

COPA on its own →TRFM on its own →How every figure is computed →Standards and sources →

Where these figures came from

COPA filings on SEC EDGAR ↗COPA prospectus with the expense ratio (SEC) ↗Themes page for COPA ↗TRFM filings on SEC EDGAR ↗TRFM prospectus with the expense ratio (SEC) ↗AAM website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, COPA against TRFM, data as of Sep 30, 2026. https://etfiq.com/compare/themes/copa-vs-trfm

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.