Do GRID and TRFM hold the same stocks?

By their latest filings, 7% 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, GRID or TRFM?

GRID has 40% of its weight in S&P 500 names and TRFM has 47%, so GRID differs more from the index.

Which is cheaper, GRID or TRFM?

GRID charges 0.56% a year and TRFM charges 0.49%, so TRFM is cheaper. Fees come from each fund's prospectus.

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GRID vs TRFM: which is really different?

GRID and TRFM hold 7% of their weight in the same names, and TRFM returned +22.2% over the year. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund and AAM Transformers ETF.

39.5%

GRID in the S&P 500

46.8%

TRFM in the S&P 500

+18.3%

GRID total return, 1 year

+22.2%

TRFM total return, 1 year

GRID · 1 year to Sep 30, 202661% of its weight is outside the S&P 500

40% of GRID's weight is in S&P 500 companies and 61% 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 · GRID scores higherHow much of it is not the index it is sold as an alternative to?

GRID 27.5

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, GRID and TRFM hold 7% 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

7% in common

Positions both hold, largest shared weight first

Holding GRID TRFM

Texas Instruments Incorporated 1.10% 0.90%

GE Vernova Inc. 1.02% 0.85%

Analog Devices, Inc. 0.82% 0.79%

NVIDIA Corporation 2.07% 0.69%

Oracle Corporation 1.16% 0.65%

Tesla, Inc. 1.93% 0.60%

International Business Machines Corporation 0.89% 0.55%

Prysmian SpA 4.03% 0.45%

Eaton Corporation Plc 8.57% 0.43%

ABB Ltd 7.79% 0.41%

Infineon Technologies AG 0.40% 0.51%

Emerson Electric Co. 0.39% 0.55%

Only in GRID

Quanta Services, Inc. 8.48%

Johnson Controls International Plc 8.35%

National Grid Plc 3.84%

E.ON SE 3.70%

Hubbell Incorporated 2.47%

Cisco Systems, Inc. 1.82%

TERNA - Rete Elettrica Nazionale SpA 1.82%

Hydro One Limited 1.41%

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%

Lumentum Holdings Inc 0.88%

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

7% 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	GRID	TRFM	GRID	TRFM	GRID	TRFM
3 months	−5.2%	−5.0%	−7.7 pts	−7.5 pts	−7.3 pts	−7.2 pts
6 months	+6.8%	+24.8%	−10.2 pts	+7.8 pts	−20.1 pts	−2.1 pts
1 year	+18.3%	+22.2%	+2.5 pts	+6.5 pts	−5.5 pts	−1.6 pts
3 years	+94.7%	+119.6%	+9.7 pts	+34.6 pts	−15.3 pts	+9.6 pts
Since launch GRID Jan 2010 · TRFM Jul 2022	+548.8%	+150.8%	−255.9 pts	+39.0 pts	−1188.8 pts	−14.3 pts

GRID 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

GRID

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund · Holds 131 stocks in electrification and the grid, 40% 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 39.5% 46.8%

Active share vs the S&P 500 92.5% 79.2%

In the Nasdaq-100 8.3% 27.5%

Holdings 131 310

Top ten, share of the fund 57.9% 8.1%

Expense ratio 0.56% 0.49%

Fee for the differing part 0.61% 0.62%

Total return, 1 year +18.3% +22.2%

vs the S&P 500 +2.5 pts +6.5 pts

vs the Nasdaq-100 −5.5 pts −1.6 pts

Below its high −10.8% −6.4%

Net assets $11.9bn $248m

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

GRID in plain words

By weight, 40% of GRID's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 58% of the fund across 131 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +18.3% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 2.5 pts. It sits 10.8% below its all-time high of May 11, 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 GRID and TRFM hold the same stocks?: By their latest filings, 7% 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, GRID or TRFM?: GRID has 40% of its weight in S&P 500 names and TRFM has 47%, so GRID differs more from the index.
Which is cheaper, GRID or TRFM?: GRID charges 0.56% a year and TRFM charges 0.49%, so TRFM is cheaper. Fees come from each fund's prospectus.

Other comparisons

GRID vs ARKK GRID vs ARTY GRID vs BAI GRID vs BOTZ TRFM vs VOLT TRFM vs ZAP TRFM vs COPA TRFM vs COPJ

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

Where these figures came from

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