Do TRFM and VOLT 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, TRFM or VOLT?

TRFM has 47% of its weight in S&P 500 names and VOLT has 53%, so VOLT differs more from the index.

Which is cheaper, TRFM or VOLT?

TRFM charges 0.49% a year and VOLT charges 0.75%, so TRFM is cheaper. Fees come from each fund's prospectus.

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TRFM vs VOLT: which is really different?

TRFM and VOLT hold 7% of their weight in the same names, and VOLT returned +23.6% over the year. AAM Transformers ETF and Tema Electrification ETF.

46.8%

TRFM in the S&P 500

52.8%

VOLT in the S&P 500

+22.2%

TRFM total return, 1 year

+23.6%

VOLT total return, 1 year

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

VOLT · 1 year to Sep 30, 202647% of its weight is outside the S&P 500

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

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

TRFM 9.6

VOLT 39.6

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, TRFM and VOLT 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 TRFM VOLT

Bloom Energy Corp 1.14% 4.45%

GE Vernova Inc 0.85% 4.37%

Vertiv Holdings Co 0.74% 0.95%

Amphenol Corp 0.69% 6.70%

NextEra Energy Inc 0.67% 4.93%

Entergy Corp 0.61% 3.60%

American Electric Power Co Inc 0.56% 4.87%

Xcel Energy Inc 0.55% 1.94%

Eaton Corp PLC 0.43% 6.36%

ABB Ltd 0.41% 2.99%

Schneider Electric SE 0.38% 1.47%

nVent Electric PLC 0.35% 4.52%

Only in TRFM

Advanced Micro Devices Inc 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%

Lumentum Holdings Inc 0.88%

Only in VOLT

BEL FUSE INC 6.73%

QUANTA SERVICES INC 5.55%

POWELL INDUSTRIES INC 5.48%

ENERGY TRANSFER LP 5.16%

HUBBELL INC 4.47%

NISOURCE INC 3.00%

WILLIAMS COS INC/THE 2.24%

CATERPILLAR INC 2.18%

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	TRFM	VOLT	TRFM	VOLT	TRFM	VOLT
3 months	−5.0%	−12.3%	−7.5 pts	−14.8 pts	−7.2 pts	−14.4 pts
6 months	+24.8%	+1.8%	+7.8 pts	−15.2 pts	−2.1 pts	−25.1 pts
1 year	+22.2%	+23.6%	+6.5 pts	+7.9 pts	−1.6 pts	−0.2 pts
3 years	+119.6%	not published	+34.6 pts	not published	+9.6 pts	not published
Since launch TRFM Jul 2022 · VOLT Dec 2024	+150.8%	+40.6%	+39.0 pts	+12.2 pts	−14.3 pts	−2.2 pts

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

On the same fields

TRFM

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

VOLT

Tema Electrification ETF · Holds 26 stocks in electrification and the grid, 53% of its weight in S&P 500 companies

Issuer AAM Tema

Theme Electrification and the grid Electrification and the grid

In the S&P 500 46.8% 52.8%

Active share vs the S&P 500 79.2% 96.9%

In the Nasdaq-100 27.5% 6.8%

Holdings 310 26

Top ten, share of the fund 8.1% 54.8%

Expense ratio 0.49% 0.75%

Fee for the differing part 0.62% 0.77%

Total return, 1 year +22.2% +23.6%

vs the S&P 500 +6.5 pts +7.9 pts

vs the Nasdaq-100 −1.6 pts −0.2 pts

Below its high −6.4% −15.7%

Net assets $248m $727m

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

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.

VOLT in plain words

By weight, 53% of VOLT'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 55% of the fund across 26 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +23.6% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 7.9 pts. It sits 15.7% below its all-time high of Jun 22, 2026.

Questions people ask

Do TRFM and VOLT 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, TRFM or VOLT?: TRFM has 47% of its weight in S&P 500 names and VOLT has 53%, so VOLT differs more from the index.
Which is cheaper, TRFM or VOLT?: TRFM charges 0.49% a year and VOLT charges 0.75%, so TRFM is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

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

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

Open data

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