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Launched · SEC filings

Formidable Fortress ETF

KONGCboeFormidableD

$31.87−0.08 (−0.25%)

At close: Nov 2, 2026, 4:00 PM ET

D33/ 100

Rank 102 of 126 in US Active Equity

D33/100Rank 102 of 126inUS Active Equity
Intraday session: down, 73 prints from 31.95 to 31.87. Range 31.87 to 32.26. Use the arrow keys to read each point.32.0032.1032.2010 AM12 PM2 PM4 PM
Expense ratio
0.89%
Fund size
$22M
1Y total return
+6.3%
Yield · Last 12 months
0.35%
Holdings
35
Avg volume · 30D
1.01K sh
52W range
low $28.66high $33.72
Launched
Filings
SEC EDGAR

The ETF.net KONG Grade

Based on 5 of 6 pillars

D

Score 33 out of 100

Category
US Active Equity⁠
Rank
102 of 126
Six-pillar profile for KONG. Scores out of 100: Cost 23, Risk 57, Mission not scored, Tradability 12, Holdings 56, Durability 46. Strongest: Risk (57). Weakest: Tradability (12). Based on 5 of 6 pillars.

Score 33 of 100 falls in the D 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.
    F23 out of 100
    Rank 96 of 126

  • 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.
    B57 out of 100
    Rank 54 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F12 out of 100
    Rank 119 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B56 out of 100
    Rank 65 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C46 out of 100
    Rank 78 of 126

Our read on KONG

ETF.net Research

In short

DAn actively run book of roughly 60 large- and mid-cap stocks plus REITs, with an options and volatility toolkit written into the mandate. The name is the pitch: pick the companies first, keep hedging instruments on the shelf.

Stated mandate

The Fund seeks total return through income and capital appreciation.

Why people hold it

  • Concentrated on purpose: about 60 large- and mid-cap names plus REITs, chosen by a manager rather than copied from an index.usnews.com
  • The mandate allows options and volatility-linked ETFs and ETNs, so risk can be shaped with derivatives instead of only by trimming stock exposure.yahoo.comusnews.com
  • Listed in 2021, so the approach has a multi-year run through live markets, including a full bear stretch, not a backtest.
  • One mandate, two jobs: it targets total return from both income and capital appreciation, so dividends and REIT payouts are part of the plan.

Worth knowing

  • At 0.89% a year it sits above the typical active US equity fund's 0.65%, and systematic peers like DFAU (0.12%) and AVLC (0.15%) charge a fraction of it.
  • A small fund that trades thinly, so spreads can run wider than in the category's giants and order size matters more.
  • Non-diversified with a compact holdings list, so single positions carry real weight, and distributions land once or twice a year rather than monthly.yahoo.com

KONG Holdings

Holdings pillarB56 out of 100Rank 65 of 124 in US Active Equity
Asset class
Stocks
Holdings
35
Top-10 weight
42%
Largest holding
MSFT6.5%

Sectors

  • Technology36.7%
  • Industrials19.5%
  • Health Care14.3%
  • Financials8.5%
  • Communication6.1%
  • Consumer Discretionary5.3%
  • Energy3.3%
  • Materials2.2%
  • Real Estate2.2%
  • Consumer Staples1.9%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1MSFTMicrosoft Corp6.50%2,680$1.4M821
2NOWServicenow Inc5.19%10,632$1.12M439
3No dataCash and Cash Equivalents4.97%1,069,314$1.07M124
4FASTFastenal Co4.39%18,220$946K377
5SNPSSynopsys Inc3.73%1,717$803K385
6EMEEMCOR Group Inc.3.71%1,174$798K325
7NVDANVIDIA Corp3.55%3,731$764K847
8CBOECboe Holdings Inc3.40%2,183$732K338
9FFIVF5 Inc3.33%2,121$718K332
10TPLTexas Pacific Land Trust3.31%2,151$713K256
11SNSharkninja Hong Kong Co Ltd3.16%3,266$679K189
12SPGIS&P Global Inc3.08%1,422$663K377
13CHEChemed Corp3.08%1,239$663K180
14IBKRInteractive Brokers Gro-Cl A3.04%8,511$654K308
15SNASnap-On Inc3.03%1,836$653K320

Showing 1–15 of 35 holdings

KONG Performance

Launched Jul 21, 2021

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.
KONG$10,630
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. KONG $10,630. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 KONG. Periods over one year show the average yearly return.
PeriodKONG
Year to date+4.4%
1 month−3.4%
3 months−0.1%
1 year+6.3%
3 yearsper year+9.1%
5 yearsper year+5.0%
10 yearsFund is under 10 years oldper yearNo data

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 KONG
YearReturn barKONG
2026 YTD+4.4%
2025+6.6%
2024+9.7%
2023+12.7%
2022−9.6%
2021+5.1%

History from Jul 22, 2021

KONG in the news

KONG 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 Nov 2, 2026.
0.35%Last 12 months
Payout per share
$0.11Last 12 months
Last payment
$0.11 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 27, 2021 $0.03; Dec 27, 2022 $0.12; Dec 26, 2023 $0.18; Dec 24, 2024 $0.22; Dec 24, 2025 $0.11. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.11
Dec 24, 2024Dec 26, 2024$0.22
Dec 26, 2023Dec 28, 2023$0.18
Dec 27, 2022Dec 29, 2022$0.12
Dec 27, 2021Dec 29, 2021$0.03

$10,000 in KONG 5 years ago paid $261 in dividends.

KONG Risk

Risk pillarB57 out of 100Rank 54 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
9.8%
Annualised · 36 months to Oct 2026
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.
0.54
vs 3-month T-bills · to Oct 2026
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.
−18.4%
Trough Jun 2022
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.
0.59
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.

FMP measures it over up to five years of monthly returns.

KONG Cost

Compare KONG and TACU

Overpaying vs TACU, cheapest in US Active Equity

$16,872

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KONG 0.89%

    $16,872

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • KONG 0.89%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KONG $16,872TACU $0

Year by year

YearKONGTACUOverpaying
10$1,576$0$1,576
20$5,953$0$5,953
30$16,872$0$16,872

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