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DRUP vs TRFM

GraniteShares Nasdaq Select Disruptors ETF

DRUPBNYSE Arca

AAM Transformers ETF

TRFMANYSE Arca

Overlap

Expense ratio

TRFM −0.11pt a year

DRUP0.60%TRFM0.49%

Avg volume · 30D

TRFM 28.7×the volume

DRUP1.4KTRFM40.1K

3Y return · a year

TRFM +5.8pt

DRUP+21.2%TRFM+27.0%

DRUP vs TRFM Performance

Oct 31, 2025 – Nov 2, 2026

+0.6%DRUP+4.6%TRFM

Oct 31, 2025 to Nov 2, 2026. DRUP +0.6%. TRFM +4.6%. Use the arrow keys to read each point.−20%−10%10%20%Oct 2025May 2026Nov 2026
Expense ratio
DRUP 0.60%
TRFM 0.49%, better
Fund size
DRUP $48M
TRFM $313M
1Y total return
DRUP +0.6%
TRFM +4.6%, better
Yield (12M)
DRUP 0.00%
TRFM No data
Holdings
DRUP 51
TRFM 266
Avg volume (30D)
DRUP 1.4K sh
TRFM 40.1K sh, better
NAV per share
DRUP $69.09
TRFM $53.79
52W range

ETF.net Grade

DRUP: Cost 66, Risk 50, Mission 54, Tradability 46, Holdings 51, Durability 43. TRFM: Cost 81, Risk 66, Mission not scored, Tradability 70, Holdings 89, Durability 50.
Pillar letters and Scores for DRUP, TRFM, with each pillar’s weight
PillarDRUPTRFM
Cost30% weightB66A81Higher
Mission25% weightC54Not scored
Risk15% weightC50B66Higher
Tradability15% weightC46A70Higher
Holdings10% weightC51A89Higher
Durability5% weightC43C50Higher

Rank among Disruptive Innovation funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DRUP and TRFM are both graded against the same 30 Disruptive Innovation funds, so their Grades compare head to head.

Disruptive Innovation⁠

Category · 30 funds
See all 30 ›

TRFM ranks 3rd and DRUP 12th of 30 funds in the Disruptive Innovation Category.

  1. Rank 1AXTiShares Future Exponential Technologies ETFScore 86
  2. Rank 2AKOMPState Street SPDR S&P Kensho New Economies Composite ETFScore 84
  3. Rank 3ATRFMAAM Transformers ETFScore 74
  4. Rank 4AXITKState Street SPDR FactSet Innovative Technology ETFScore 73
  5. Rank 11BINVNAlger Russell Innovation ETFScore 57
  6. Rank 12BDRUPGraniteShares Nasdaq Select Disruptors ETFScore 55
  7. Rank 12BTSNFTruth Social American Next Frontiers ETFScore 55

Our read on each fund

ETF.net Research

DRUPBGraniteShares Nasdaq Select Disruptors ETF

TRFMAAAM Transformers ETF

In short

DRUP Disruption, measured. DRUP ranks large US companies on six fundamentals (patent value and research spend among them) and keeps about 50. Launched in 2019 as XOUT, the fund that dodged the disrupted, then switched to owning the disruptors.

TRFM Most disruption funds buy the story. TRFM screens for companies actually writing R&D checks, then spreads the theme across a couple hundred US-listed names instead of a concentrated bet on thirty.

Stated mandate

DRUP The Fund seeks to track, before fees and expenses, the Nasdaq US Large Cap Select Disruptors Index. It provides exposure to large-cap U.S.-listed companies selected for high disruption scores.

TRFM The Fund passively tracks the total return of the Pence Transformers Index before fees and expenses. The index targets U.S.-listed equity securities of companies positioned to benefit from significant changes in consumer behavior and technological innovation.

Why people hold it

  • DRUP A Nasdaq scoring model does the picking: six fundamental metrics, patent value included, ranked across the big-cap field, with the top scorers held.nasdaq.comgraniteshares.com
  • Large-cap only and reconstituted semiannually, so the innovation story shows up in companies with real revenue rather than pre-profit moonshots.nasdaq.com
  • Passive tracking of a published Nasdaq index, so the reason any holding is in there is checkable rather than a manager's hunch.nasdaq.com
  • Costs 0.60% a year with no temporary waiver propping that number up, which sits near the median for disruptive-innovation funds.
  • TRFM Candidates are screened on research-and-development spending, so names earn a slot with budget receipts, not just a narrative.nasdaq.com
  • 0.49% a year, below the typical fee in its disruptive-innovation cohort, and it follows a published index rather than a manager's hunches.
  • Modified equal weighting across a couple hundred holdings keeps any single mega-cap from quietly becoming the whole theme.stockanalysis.com
  • Sits among the strongest implementations in its disruptive-innovation peer group on our review.

Worth knowing

  • DRUP Cheaper disruption exposure exists: KOMP charges 0.20%, also with no waiver.
  • The record before August 15, 2023 belongs to a different strategy; the fund tracked the XOUT US Large Cap Index until that index swap.sec.govgraniteshares.com
  • Thinly traded, and roughly 50 innovators makes for concentrated, tech-flavored swings. Filings note the fund can become non-diversified.graniteshares.com
  • TRFM Not the cheapest door into the theme. Broader innovation rivals such as KOMP carry a lower expense ratio.
  • Trades thinly next to the category's giants, so the bid-ask spread can matter more to your cost than the fee does.
  • Launched in 2022, so the track record is short, and the index stays US-listed (ADRs count) rather than buying foreign shares directly.stockanalysis.com

Full DRUP profile⁠

Full TRFM profile⁠

DRUP vs TRFM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DRUP vs TRFM Cost

Overpaying DRUP vs TRFM

$2,025

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DRUP 0.60%

    $11,817

  • TRFM 0.49%

    $9,792

$10,000
30 years

Cost over time

  • DRUP 0.60%
  • TRFM 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530DRUP $11,817TRFM $9,792

Year by year

YearDRUPTRFMOverpaying
10$1,076$883$193
20$4,116$3,394$722
30$11,817$9,792$2,025

Expense ratio

  • 0.60%DRUP
  • 0.49%TRFM, cheaper
  • Middle half of Disruptive Innovation funds
  • Median 0.65%

TRFM 4th cheapest of 30 funds

DRUP 11th cheapest of 30 funds

DRUP vs TRFM Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
DRUP 0.00%
TRFM No data
Payout (12M)
DRUP None
TRFM No data
Last payment
DRUP No data
TRFM $0.08
Ex-dividend
DRUP No data
TRFM Dec 31, 2025
Paid on
DRUP No data
TRFM Jan 5, 2026
Frequency
DRUP No data
TRFM Irregular

Distribution history

Per share, 2019 to 2026, same scale for both

DRUP16 paymentsAll DRUP payments⁠
One bar per payment. 16 payments from 2019 to 2026 YTD. Dec 30, 2019 $0.05; Mar 18, 2020 $0.06; Jun 17, 2020 $0.05; Sep 16, 2020 $0.04; Dec 30, 2020 $0.05; Mar 17, 2021 $0.04; Jun 16, 2021 $0.03; Sep 15, 2021 $0.03; Dec 30, 2021 $0.04; Mar 29, 2022 $0.04; Jun 28, 2022 $0.04; Sep 28, 2022 $0.05; Dec 28, 2022 $0.04; Mar 29, 2023 $0.06; Jun 28, 2023 $0.08; Dec 27, 2023 $0.04. Use the arrow keys to read each point.$0$0.05202020232026YTD
TRFMIrregular · 1 paymentAll TRFM payments⁠
One bar per payment. 1 payment from 2019 to 2026 YTD. Dec 31, 2025 $0.08. Use the arrow keys to read each point.$0$0.05202020232026YTD

DRUP vs TRFM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DRUP 19.7%, betterTRFM 23.3%
Return per unit of riskSharpe ratio, 3 years
DRUP 0.90TRFM 1.02, better
Worst fallMax drawdown, 5 years
DRUP −31.3%TRFM −28.4%since Jul 2022
Market sensitivityBeta, 5 years
DRUP 1.14TRFM 1.64

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