Do FPWR and TRFM hold the same stocks?

By their latest filings, 6% 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, FPWR or TRFM?

FPWR has 58% of its weight in S&P 500 names and TRFM has 47%, so FPWR differs more from the index.

Which is cheaper, FPWR or TRFM?

FPWR charges 0.96% a year and TRFM charges 0.49%, so TRFM is cheaper. Fees come from each fund's prospectus.

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FPWR vs TRFM: which is really different?

FPWR and TRFM hold 6% of their weight in the same names, and TRFM returned +22.2% over the year. First Trust EIP Power Solutions ETF and AAM Transformers ETF.

57.7%

FPWR in the S&P 500

46.8%

TRFM in the S&P 500

+5.2%

FPWR total return, 1 year

+22.2%

TRFM total return, 1 year

FPWR · 1 year to Sep 30, 202642% of its weight is outside the S&P 500

58% of FPWR's weight is in S&P 500 companies and 42% 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 · FPWR scores higherHow much of it is not the index it is sold as an alternative to?

FPWR 41.3

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, FPWR and TRFM hold 6% 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 Sep 30, 2026.

50%

half

6% in common

Positions both hold, largest shared weight first

Holding FPWR TRFM

NextEra Energy, Inc. 1.77% 0.67%

Entergy Corporation 2.54% 0.61%

American Electric Power Company, Inc. 2.31% 0.56%

Xcel Energy Inc. 2.79% 0.55%

The Southern Company 2.76% 0.54%

Duke Energy Corporation 3.54% 0.53%

Enel SpA (ADR) 1.03% 0.36%

Iberdrola, S.A. (ADR) 1.14% 0.36%

Generac Holdings Inc. 1.17% 0.25%

Constellation Energy Corporation 0.24% 0.53%

Vistra Corp. 0.23% 0.54%

First Solar, Inc. 0.77% 0.21%

Only in FPWR

Energy Transfer LP 5.10%

Enterprise Products Partners L.P. 4.75%

National Fuel Gas Company 3.64%

US Dollar 3.19%

Kinder Morgan, Inc. 3.10%

WEC Energy Group, Inc. 3.03%

MPLX LP 2.87%

CMS Energy Corporation 2.80%

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.

6% 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	FPWR	TRFM	FPWR	TRFM	FPWR	TRFM
3 months	−6.7%	−5.0%	−9.3 pts	−7.5 pts	−8.9 pts	−7.2 pts
6 months	−7.2%	+24.8%	−24.2 pts	+7.8 pts	−34.1 pts	−2.1 pts
1 year	+5.2%	+22.2%	−10.6 pts	+6.5 pts	−18.6 pts	−1.6 pts
3 years	+62.8%	+119.6%	−22.2 pts	+34.6 pts	−47.2 pts	+9.6 pts
Since launch FPWR Aug 2019 · TRFM Jul 2022	+98.7%	+150.8%	−93.3 pts	+39.0 pts	−214.9 pts	−14.3 pts

FPWR 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

FPWR

First Trust EIP Power Solutions ETF · Holds 60 stocks in electrification and the grid, 58% 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 First Trust AAM

Theme Electrification and the grid Electrification and the grid

In the S&P 500 57.7% 46.8%

Active share vs the S&P 500 97.2% 79.2%

In the Nasdaq-100 5.3% 27.5%

Holdings 60 310

Top ten, share of the fund 35.4% 8.1%

Expense ratio 0.96% 0.49%

Fee for the differing part 0.99% 0.62%

Total return, 1 year +5.2% +22.2%

vs the S&P 500 −10.6 pts +6.5 pts

vs the Nasdaq-100 −18.6 pts −1.6 pts

Below its high −9.3% −6.4%

Net assets $29m $248m

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

FPWR in plain words

By weight, 58% of FPWR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 35% of the fund across 60 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +5.2% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 10.6 pts. It sits 9.3% below its all-time high of Apr 30, 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 FPWR and TRFM hold the same stocks?: By their latest filings, 6% 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, FPWR or TRFM?: FPWR has 58% of its weight in S&P 500 names and TRFM has 47%, so FPWR differs more from the index.
Which is cheaper, FPWR or TRFM?: FPWR charges 0.96% a year and TRFM charges 0.49%, so TRFM is cheaper. Fees come from each fund's prospectus.

Other comparisons

FPWR vs POWR FPWR vs ZAP FPWR vs COPA FPWR vs COPJ TRFM vs COPA TRFM vs GRID TRFM vs VOLT TRFM vs ZAP

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

Where these figures came from

FPWR filings on SEC EDGAR ↗FPWR prospectus with the expense ratio (SEC) ↗First Trust page for FPWR ↗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, FPWR against TRFM, data as of Sep 30, 2026. https://etfiq.com/compare/themes/fpwr-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.