DUNK vs TRFM

DUNKDDana Unconstrained Equity ETF

TRFMAAAM Transformers ETF

In short

DUNK Most disruptive-tech funds buy the story. Dana's 2025 entry is an active portfolio that leans toward innovators already posting rising profits and business momentum, with valuation risk as a stated brake. Innovation with a profitability filter.

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

DUNK The Fund seeks long-term growth of capital through active investment primarily in U.S.-listed equity companies involved in, or expected to benefit from, disruptive technologies. The strategy emphasizes companies with rising profitability and business momentum while considering valuation risk.

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

• DUNK Actively run rather than index-bound: the mandate emphasizes disruptive-technology companies with rising profitability and business momentum, not just a good pitch deck.
• Valuation risk is written into the strategy itself, an unusual guardrail in a corner of the market known for paying up for growth.
• Sticks to U.S.-listed equities, so you get the innovation theme without a currency or foreign-market layer stacked on top.

• 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

• DUNK At 0.75% a year it runs above the typical disruptive-innovation ETF, and well above index-based rivals such as KOMP (0.20%) and XT (0.46%).
• Launched in September 2025, so there is little live record behind the manager's stock picks, and it trades lightly, which tends to mean wider spreads.
• Built around long-term growth of capital, not income; payouts are not part of the design.

• 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 DUNK profile⁠

Full TRFM profile⁠