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FDRX

GradeCNASDAQ Global Market

Corgi ETF Trust I - Founder-Led 2x Daily ETF

Leveraged · Leveraged & Inverse · Corgi Funds · Inception 2026-01-14

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$25.51−0.13 (−0.51%)

As of Sep 23, 2026, 2:07 PM EDT

History starts Jan 15, 2026.History starts Jan 15, 2026.
Intraday session: down, 6 prints from 25.64 to 25.51. Range 25.48 to 25.63. Use the arrow keys to read each point.$25.55$25.6010 AM12 PM2 PM4 PM
Expense ratio
1.08%
Fund size
$5M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$23.58
52W range
low $15.38high $26.20

The ETF.net FDRX Grade

C

40/ 100

Rank 37 of 63 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for FDRX. Scores out of 100: Cost 55, Risk 32, Mission not scored, Tradability 39, Holdings not scored, Durability 20. Strongest: Cost (55). Weakest: Durability (20). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned43This cap took−3Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 55
    Category rank28/63 · top 44%

  • 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 32
    Category rank49/60 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 39
    Category rank44/63 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 20
    Category rank60/63 · bottom quartile

Graded as of Sep 9, 2026 · Based on 4 of 6 pillars

Our read on FDRX

ETF.net Research

CMost of the leverage aisle is Dow and Nasdaq wrappers. FDRX points the same daily-reset machinery at a founder-led stock index and doubles the day's move (2x, not 3x). A one-day tool with a niche theme bolted on.

Stated mandate

The Fund seeks daily results before fees and expenses equal to twice the Founder-Led Index’s daily performance for a single NAV day. It resets exposure daily and primarily uses derivatives such as total return swaps and futures.

Why people hold it

  1. 01The leverage aisle is mostly Dow, Nasdaq and financials wrappers. FDRX targets twice the daily move of the Founder-Led Index, a theme no other fund in its cohort levers.
  2. 02Two times daily, not three: the same daily-reset swap machinery the 3x crowd runs on, with a smaller multiplier applied to each day's move.
  3. 03The contract is plain: a 1940 Act ETF pegged to a named index, resetting exposure each NAV day, with that exposure built from total return swaps and futures.

Worth knowing

  1. 01Daily reset means the math compounds. Held longer than a day, results can drift well away from 2x the index's move, especially through choppy stretches.
  2. 021.08% a year, above what the cohort's biggest 2x and 3x names charge (FAS, QLD).
  3. 03Launched January 2026, so the history is short and trading has been light; spreads can run wider than in the cohort's household names.

FDRX Holdings

As of Sep 10, 2026, 5:10 AM
Asset class
Other
Holdings
—
Top-10 weight
210%
Largest holding
CORGI ETF TR SWAP CS200.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CORGI ETF TR SWAP CS200.35%376,375$9M1
002—First American Government Obligations Fund 12/01/20319.46%444,676$445K375

Showing 1–2 of 2 holdings

FDRX Performance

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

FDRX$11,013
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,370
Jun 9, 2026 to Sep 9, 2026. FDRX $11,013. SPY $10,370. Use the arrow keys to read each point.$8,277$9,960$11,643Jun 2026Jul 2026Sep 2026

Jun 9, 2026 – Sep 9, 2026

Returns run to the Sep 9, 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 FDRX. Periods over one year show the average yearly return.
PeriodFDRX
Year to dateFund launched this year—
1 month+4.1%
3 months+10.1%
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 FDRX
YearReturn barFDRX
2026 YTD−5.7%

History from Jan 15, 2026

FDRX in the news

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

FDRX 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 9, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

FDRX Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; 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 Jan 2026; 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 Jan 2026; 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.
2.91
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.

FDRX Cost

Expense ratio1.08%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

56 of the 93 Leveraged Long (2x & Other) funds charge less.

FDRX costs $108.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.