Do ICOP 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, ICOP or TRFM?

ICOP has 13% of its weight in S&P 500 names and TRFM has 47%, so ICOP differs more from the index.

Which is cheaper, ICOP or TRFM?

ICOP charges 0.47% a year and TRFM charges 0.49%, so ICOP is cheaper. Fees come from each fund's prospectus.

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ICOP vs TRFM: which is really different?

ICOP and TRFM hold 0% of their weight in the same names, and ICOP returned +44.3% over the year. iShares Copper and Metals Mining ETF and AAM Transformers ETF.

13.2%

ICOP in the S&P 500

46.8%

TRFM in the S&P 500

+44.3%

ICOP total return, 1 year

+22.2%

TRFM total return, 1 year

ICOP · 1 year to Sep 30, 202687% of its weight is outside the S&P 500

13% of ICOP's weight is in S&P 500 companies and 87% 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 · ICOP scores higherHow much of it is not the index it is sold as an alternative to?

ICOP 74.4

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, ICOP 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 Sep 29, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding ICOP TRFM

Only in ICOP

FREEPORT MCMORAN INC 8.29%

ANGLO AMERICAN PLC 8.16%

GRUPO MEXICO B 8.11%

BHP GROUP LTD 7.76%

TECK RESOURCES SUBORDINATE VOTING 5.68%

NEWMONT 4.93%

SOUTHERN COPPER CORP 4.89%

FIRST QUANTUM MINERALS 4.80%

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.

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	ICOP	TRFM	ICOP	TRFM	ICOP	TRFM
3 months	+9.6%	−5.0%	+7.1 pts	−7.5 pts	+7.5 pts	−7.2 pts
6 months	+8.9%	+24.8%	−8.0 pts	+7.8 pts	−17.9 pts	−2.1 pts
1 year	+44.3%	+22.2%	+28.5 pts	+6.5 pts	+20.5 pts	−1.6 pts
3 years	+137.4%	+119.6%	+52.4 pts	+34.6 pts	+27.4 pts	+9.6 pts
Since launch ICOP Jun 2023 · TRFM Jul 2022	+134.9%	+150.8%	+51.7 pts	+39.0 pts	+27.1 pts	−14.3 pts

ICOP 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

ICOP

iShares Copper and Metals Mining ETF · Holds 87 stocks in copper, 13% 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 iShares AAM

Theme Copper Electrification and the grid

In the S&P 500 13.2% 46.8%

Active share vs the S&P 500 99.7% 79.2%

In the Nasdaq-100 0.0% 27.5%

Holdings 87 310

Top ten, share of the fund 61.5% 8.1%

Expense ratio 0.47% 0.49%

Fee for the differing part 0.47% 0.62%

Total return, 1 year +44.3% +22.2%

vs the S&P 500 +28.5 pts +6.5 pts

vs the Nasdaq-100 +20.5 pts −1.6 pts

Below its high −12.6% −6.4%

Net assets $467m $248m

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

ICOP in plain words

By weight, 13% of ICOP'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 62% of the fund across 87 positions, as published by its issuer for Sep 29, 2026. Over the year to Sep 30, 2026 the fund returned +44.3% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 28.5 pts. It sits 12.6% below its all-time high of Aug 25, 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 ICOP 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, ICOP or TRFM?: ICOP has 13% of its weight in S&P 500 names and TRFM has 47%, so ICOP differs more from the index.
Which is cheaper, ICOP or TRFM?: ICOP charges 0.47% a year and TRFM charges 0.49%, so ICOP is cheaper. Fees come from each fund's prospectus.

Other comparisons

ICOP vs POWR ICOP vs ELFY ICOP vs EMET ICOP vs JOUL TRFM vs VOLT TRFM vs ZAP TRFM vs COPA TRFM vs COPJ

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

Where these figures came from

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