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FDRS

GradeCNASDAQ Global Market

Founder-Led ETF

Themes · Corgi Funds · Inception 2025-12-29 · SEC filings

$26.19−0.04 (−0.15%)

As of Sep 23, 2026, 2:02 PM EDT

History starts Dec 30, 2025.History starts Dec 30, 2025.
Intraday session: down, 11 prints from 26.23 to 26.19. Range 26.09 to 26.35. Use the arrow keys to read each point.$26.10$26.3010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$53M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0.1M sh
NAV per share
$26.16
52W range
low $19.37high $26.23

The ETF.net FDRS Grade

C

46/ 100

Rank 8 of 22 in US Thematic⁠

Confidence Medium

Six-pillar profile for FDRS. Scores out of 100: Cost 40, Risk 28, Mission not scored, Tradability 76, Holdings 39, Durability 61. Strongest: Tradability (76). Weakest: Risk (28). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 46 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 40
    Category rank14/22 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 28
    Category rank20/22 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 76
    Category rank3/22 · top 14%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 39
    Category rank15/22 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 61
    Category rank9/22 · top 41%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

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 Sep 20, 2026, 8:16 AM
Asset class
Stocks
Holdings
—
Top-10 weight
58%
Largest holding
META10.8%

Geography

  • United States94.19%
  • Canada3.54%
  • Brazil0.92%
  • Netherlands0.86%
  • Cayman Islands0.49%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001METAMeta Platforms Inc10.83%8,324$6M683
002NVDANVIDIA Corp9.13%21,014$5M828
003TSLATesla Inc8.44%11,852$4M509
004PLTRPalantir Technologies Inc7.05%20,301$4M503
005ORCLOracle Corp4.58%15,876$2M448
006CRWDCrowdstrike Holdings Inc4.20%9,044$2M454
007ANETArista Networks Inc3.74%9,594$2M490
008CRMSalesforce Inc3.45%7,405$2M457
009DELLDell Technologies Inc3.28%2,957$2M427
010BLKBlackrock Inc2.82%1,350$1M320
011SHOPShopify Inc2.82%11,206$1M111
012COFCapital One Financial Corp2.26%5,710$1M350
013SNOWSnowflake Inc1.99%3,054$1M321
014SPCXSpace Exploration Technologies Corp1.93%6,450$985K268
015FTNTFortinet Inc1.92%5,786$983K465

Showing 1–15 of 52 holdings

FDRS Performance

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

FDRS$10,737
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. FDRS $10,737. SPY $11,430. Use the arrow keys to read each point.$7,646$9,698$11,751Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+7.4%
1 month+7.3%
3 months+12.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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+7.4%
2025−1.1%

History from Dec 30, 2025

FDRS in the news

ETF.net Research hasn’t filed on FDRS yet — coverage lands here as it’s written.

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 Sep 22, 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.
1.42
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 21 US Thematic funds charge less.

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