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Launched · SEC filings

Founder-Led ETF

FDRSNasdaqC

$26.51−0.04 (−0.15%)

At close: Oct 13, 2026, 4:00 PM

C42/ 100

Rank 9 of 22 in US Thematic

C42/100Rank 9 of 22inUS Thematic
Intraday session: down, 10 prints from 26.55 to 26.51. Range 26.29 to 26.61. Use the arrow keys to read each point.26.3026.3526.4026.4526.6010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$15M
1Y total return
—
Yield · Last 12 months
—
Holdings
51
Avg volume · 30D
0.1M sh
NAV per share
$26.77
52W range
low $19.37high $26.91
Launched
Filings
SEC EDGAR

The ETF.net FDRS Grade

Based on 5 of 6 pillars

C

Score 42 out of 100

Category
US Thematic⁠
Rank
9 of 22
Six-pillar profile for FDRS. Scores out of 100: Cost 40, Risk 26, Mission not scored, Tradability 60, Holdings 42, Durability 57. Strongest: Tradability (60). Weakest: Risk (26). Based on 5 of 6 pillars.

Score 42 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C40 out of 100
    Rank 13 of 22

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D26 out of 100
    Rank 19 of 22

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B60 out of 100
    Rank 8 of 22

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C42 out of 100
    Rank 14 of 22

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 10 of 22

Our read on FDRS

ETF.net Research

CMost index funds screen for numbers. FDRS screens for a person: 50 U.S.-listed companies where an original founder still holds a C-suite seat. A governance trait, turned into an index rule.

Stated mandate

The fund uses a founder-led equity strategy focused on U.S.-listed companies where an original founder remains in a senior executive role.

Why people hold it

  1. 01The rule is a person, not a slogan: at least one original founder still serving as CEO, President, CTO or CFO. Founder skin in the game, written into the methodology.sec.gov
  2. 02Rules-based and passive. Corgi Strategies sets the criteria, Solactive AG calculates the index, and the fund replicates or samples it. No stock-picker's hunches.sec.gov
  3. 03Fifty founder-run names in one ticker, a theme most investors otherwise have to assemble one stock at a time.sec.gov

Worth knowing

  1. 01At 0.49% it runs above the typical index-tracking peer, and many times what plain-vanilla trackers like SCHK (0.03%) or SPYV (0.04%) charge.
  2. 02Fifty stocks is concentrated. One company's stumble lands harder here than it would inside a broad-market index.sec.gov
  3. 03Young fund, young index: it launched in late 2025 with a small asset base, so there's little live track record to judge it on.

FDRS Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
51
Top-10 weight
57%
Largest holding
META9.2%

Geography

  • United States93.12%
  • Canada4.50%
  • Brazil1.03%
  • Netherlands0.81%
  • Cayman Islands0.54%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001METAMeta Platforms Inc9.17%1,871$1M704
002TSLATesla Inc8.39%3,365$1M521
003NVDANVIDIA Corp8.30%5,557$1M847
004PLTRPalantir Technologies Inc7.86%5,701$1M525
005CRWDCrowdstrike Holdings Inc4.51%2,601$684K472
006ORCLOracle Corp4.07%4,488$617K447
007ANETArista Networks Inc3.80%2,732$576K509
008SHOPShopify Inc3.76%3,176$569K131
009DELLDell Technologies Inc3.40%894$516K443
010CRMSalesforce Inc3.29%2,130$498K462
011BLKBlackrock Inc2.93%409$443K318
012COFCapital One Financial Corp2.15%1,622$326K353
013FTNTFortinet Inc2.14%1,679$324K468
014SNOWSnowflake Inc2.05%864$311K335
015NETCloudflare Inc2.00%866$304K275

Showing 1–15 of 51 holdings

FDRS Performance

Launched Dec 29, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FDRS$10,868
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. FDRS $10,868. SPY $11,500. Use the arrow keys to read each point.$7,677$9,738$11,799Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FDRS. Periods over one year show the average yearly return.
PeriodFDRS
Year to date+8.7%
1 month+6.5%
3 months+10.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FDRS
YearReturn barFDRS
2026 YTD+8.7%
2025−1.1%

History from Dec 30, 2025

FDRS in the news

Filtered to FDRS · US Thematic · Corgi Funds

FDRS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Dec 2025. No distributions yet.

FDRS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.37
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FDRS Cost

Expense ratio0.49%
  • The middle half of US Thematic funds
  • Median 0.35%

12 of the 22 US Thematic funds charge less.

FDRS costs $49.00 a year on $10,000. The median US Thematic fund costs $35.00.

Other funds in US Thematic

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