TRFM Fees and Costs — AAM Transformers ETF
Data updated: 2026-09-29
The net expense ratio is 0.49%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $53K in broker commissions, 0.0823% of average net assets, and portfolio turnover was 79%.
TRFM Fees and Expenses
Annual operating expenses and sales charges of TRFM. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.49% |
| Fee waiver | — |
| Net expense ratio | 0.49% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TRFM Costs Over Time
On $10,000 invested in TRFM, assuming 5% a year before costs, total costs come to $361 over 5 years, cutting the return by 0.60% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $60 | $198 | $361 |
| Value after costs | $10,440 | $11,379 | $12,402 |
| Impact on return, per year | 0.60% | 0.60% | 0.60% |
TRFM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0823%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 79%
- Securities on loan, average value: $4.1M
- Net income from securities lending: $90K (0.138% of average net assets)
TRFM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MIRAE ASSET SECURITIES (USA) INC. | $35K | 66.58% |
| RBC CAPITAL MARKETS, LLC | $12K | 21.83% |
| OLD MISSION MARKETS LLC | $6K | 11.58% |
| TELSEY ADVISORY GROUP LLC | $2 | 0.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.