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Name

As of 07/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AAM Transformers ETF

TRFM | ETF

$32.82

$37 M

0.00%

0.49%

Vitals

YTD Return

3.7%

1 yr return

10.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$37 M

Holdings in Top 10

9.4%

52 WEEK LOW AND HIGH

$33.0
$24.93
$35.81

Expenses

OPERATING FEES

Expense Ratio 0.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 07/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AAM Transformers ETF

TRFM | ETF

$32.82

$37 M

0.00%

0.49%

TRFM - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    AAM Transformers ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jul 11, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index.
Pence Transformers Index
The Index is a rules-based index that measures the performance of U.S.-listed common equity securities, including American Depositary Receipts (“ADRs”) for foreign securities, of companies poised to benefit from a significant disruption and/or transformation of consumer behavior and technological innovation. Examples of significant disruptions and/or transformation of consumer behavior and technological innovation include, but are not limited to, (i) advancements in autonomous driving capabilities and electric vehicle technology disrupting the automobile manufacturers and trucking sub-industries; (ii) changes in consumer behavior shifting retail sales from brick and mortar businesses to digital channels transforming the internet and digital marketing retail sub-industry; (iii) recent developments in cellular data speeds and improvements in mobile technologies disrupting the interactive media and services sub-industry; and (iv) new technologies that provide carbon offsets for existing business models or the development of greener alternatives to existing energy production transforming the renewable electricity producers sub-industry.
Securities eligible for inclusion in the Index must be classified in one of the following sub-industries of the Global Industry Classification Standard (“GICS”):
Sub-Industries
Aerospace & Defense Electronic Components IT Consulting & Other Services
Alternative Carriers Electronic Equipment & Instruments Oil & Gas Refining & Marketing
Application Software Heavy Electrical Equipment Renewable Electricity Producers
Automobile Manufacturers Hotels, Resorts & Cruise Lines Semiconductor Equipment
Communications Equipment Industrial Machinery Semiconductors
Consumer Electronics Interactive Home Entertainment Specialty Chemicals
Copper Interactive Media & Services Systems Software
Data Processing & Outsourced Services Internet & Direct Marketing Retail Technology Hardware, Storage & Peripherals
Electrical Components & Equipment Internet Services & Infrastructure Trucking
Companies are screened from the universe of eligible securities based on descriptions of a company in regulatory filings (e.g., financial statements, annual reports), investor presentations, analyst reports, and industry-specific publications. In seeking companies that are expected to have market dominance, the Index analyzes the following quantitative factors that, in the opinion of Pence Capital Management, LLC (the “Index Provider”), provide an indication of a significant disruption and/or transformation of consumer behavior and technological innovation: research and development (“R&D”) spending as a percentage of sales, projected sales, and projected sales growth. The screening of the Index is performed by the Index Provider, and the Index was developed in 2021 by the Index Provider.
To be included in the Index, a company must have (i) a minimum float-adjusted market capitalization of $2 billion, (ii) a minimum liquidity threshold of an average daily traded value of $2 million over a three-month period, and (iii) a consensus analyst rating above 3.0. Broker-dealers issue ratings based on an analyst’s measure of a stock’s expected performance in a given time period, where a rating of 5.0 is the strongest ranking (e.g., buy) and 1.0 is the weakest ranking (e.g., sell). A consensus rating is the average of all brokers’ recommendations which have updated their recommendation in a given time period. To be eligible for inclusion in the Index, there must be at least five analysts making a recommendation for the company (except for ADRs and newly-listed securities). An ADR may be included in the Index with fewer than five analysts’ ratings, if the underlying security for which the ADR is based on has at least five analysts making a recommendation for the company. Newly-listed securities may also be included in the Index with fewer than five analysts’ ratings (i.e., a company that is post-IPO but may not have wide analyst coverage due to IPO lock-up periods) if a company is in one of the specified industries, has a minimum market capitalization over $2 billion, and has projected revenue over $200 million.
The Index is reconstituted (i.e., Index constituents are added or deleted and weightings within each category are reset to equal-weight) after the close of business on the third Friday of March, June, September, and December. At the time of each reconstitution of the Index, Index constituents are added or deleted based on company data as of the last business day of February, May, August, and November, respectively, and the Index constituents are equally weighted within the following categories based on closing prices as of ten business days prior to the reconstitution date.
Category 1 (20% weight) U.S.-based companies with over $100 billion market capitalization
Category 2 (30% weight) U.S.-based companies with $20 billion to $100 billion market capitalization
Category 3 (25% weight) U.S.-based companies with $2 billion to $20 billion market capitalization
Category 4 (15% weight) international companies with over $30 billion market capitalization
Category 5 (10% weight) international companies with $2 billion to $30 billion market capitalization
The aggregate weight of U.S.-based companies (companies in Categories 1, 2, and 3) is capped at 75%. If the Index does not identify any companies in one or more of those categories, the excess weight will be equally distributed to the remaining category or categories (e.g., if there are no Category 2 companies identified, then Category 1 would be weighted at 35% and Category 3 would be weighted at 40%). If the Index does not identify any U.S.-based companies, then Category 4 would be weighted at 60% and Category 5 would be weighted at 40%.
The remaining 25% of the Index is made up of international companies (Categories 4 and 5). If the Index does not identify any companies in either category, the excess weight will be distributed to the other category (e.g., if there are no Category 4 companies identified, then Category 5 would be weighted 25%). If the Index does not identify any international companies, the excess weight will be equally distributed among Categories 1, 2 and 3 (e.g., Category 1 would be weighted 28.3%, Category 2 would be weighted 38.3%, and Category 3 would be weighted 33.4%).
As of December 31, 2023, there were 190 companies in the Index, with a market capitalization ranging from $2.0 billion to $3.04 trillion. The Index consists only of mid- and large-capitalization companies greater than $2 billion at the time of each reconstruction.
The Fund’s Investment Strategy
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate proportions as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).
The Fund generally may invest in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions).
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. As of December 31, 2023, the Index was concentrated in the software industry and had significant exposure to the Semiconductors & Semiconductor Equipment industry, as well as the Information Technology sector, more generally.
Read More

TRFM - Performance

Return Ranking - Trailing

Period TRFM Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% N/A N/A N/A
1 Yr 10.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period TRFM Return Category Return Low Category Return High Rank in Category (%)
2023 44.7% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period TRFM Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% N/A N/A N/A
1 Yr 10.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period TRFM Return Category Return Low Category Return High Rank in Category (%)
2023 44.7% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

TRFM - Holdings

Concentration Analysis

TRFM Category Low Category High TRFM % Rank
Net Assets 37 M N/A N/A N/A
Number of Holdings 197 N/A N/A N/A
Net Assets in Top 10 3.35 M N/A N/A N/A
Weighting of Top 10 9.35% N/A N/A N/A

Top 10 Holdings

  1. Micron Technology Inc 1.06%
  2. Alphabet Inc 1.06%
  3. Eaton Corp PLC 0.96%
  4. NVIDIA Corp 0.93%
  5. Coupang Inc 0.93%
  6. QUALCOMM Inc 0.90%
  7. AppLovin Corp 0.89%
  8. Airbnb Inc 0.88%
  9. Amazon.com Inc 0.87%
  10. Tencent Holdings Ltd 0.86%

Asset Allocation

Weighting Return Low Return High TRFM % Rank
Stocks 		99.95% N/A N/A N/A
Cash 		0.06% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High TRFM % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High TRFM % Rank
US 		99.95% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

TRFM - Expenses

Operational Fees

TRFM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.49% N/A N/A N/A
Management Fee 0.49% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

TRFM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

TRFM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TRFM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

TRFM - Distributions

Dividend Yield Analysis

TRFM Category Low Category High TRFM % Rank
Dividend Yield 0.00% N/A N/A N/A

Dividend Distribution Analysis

TRFM Category Low Category High Category Mod
Dividend Distribution Frequency Annual

Net Income Ratio Analysis

TRFM Category Low Category High TRFM % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

TRFM Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

TRFM - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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