Skip to content
etf.net

Launched · SEC filings

Formidable Fortress ETF

KONGCboeD

$33.43−0.10 (−0.30%)

As of Oct 13, 2026, 3:37 PM

D33/ 100

Rank 105 of 127 in US Active Equity

D33/100Rank 105 of 127inUS Active Equity
Intraday session: down, 2 prints from 33.53 to 33.43. Range 33.43 to 33.53. Use the arrow keys to read each point.33.4633.4833.5033.5210 AM12 PM2 PM4 PM
Expense ratio
0.89%
Fund size
$24M
1Y total return
+12.5%
Yield · Last 12 months
0.33%
Holdings
37
Avg volume · 30D
0M sh
NAV per share
$33.62
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
105 of 127
Six-pillar profile for KONG. Scores out of 100: Cost 25, Risk 55, Mission not scored, Tradability 9, Holdings 56, Durability 47. Strongest: Holdings (56). Weakest: Tradability (9). 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.
    D25 out of 100
    Rank 95 of 127

  • 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.
    B55 out of 100
    Rank 60 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F9 out of 100
    Rank 124 of 127

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B56 out of 100
    Rank 64 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C47 out of 100
    Rank 74 of 127

Our read on KONG

ETF.net Research

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

  1. 01Concentrated on purpose: about 60 large- and mid-cap names plus REITs, chosen by a manager rather than copied from an index.money.usnews.com
  2. 02The mandate allows options and volatility-linked ETFs and ETNs, so risk can be shaped with derivatives instead of only by trimming stock exposure.finance.yahoo.commoney.usnews.com
  3. 03Listed in 2021, so the approach has a multi-year run through live markets, including a full bear stretch, not a backtest.
  4. 04One 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

  1. 01At 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.
  2. 02A small fund that trades thinly, so spreads can run wider than in the category's giants and order size matters more.
  3. 03Non-diversified with a compact holdings list, so single positions carry real weight, and distributions land once or twice a year rather than monthly.finance.yahoo.com

KONG Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
37
Top-10 weight
43%
Largest holding
NOW6.6%

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 valueIn ETFs
001NOWServicenow Inc6.60%11,025$2M432
002MSFTMicrosoft Corp6.32%2,779$1M815
003FFIVF5 Inc4.48%2,199$1M331
004EMEEMCOR Group Inc.4.08%1,217$961K326
005FASTFastenal Co4.07%18,894$959K371
006SNPSSynopsys Inc3.86%1,780$908K381
007NVDANVIDIA Corp3.77%3,869$887K847
008TPLTexas Pacific Land Trust3.42%2,230$805K245
009ANETArista Networks Inc3.36%3,645$790K509
010IBKRInteractive Brokers Gro-Cl A3.30%8,826$776K302
011GEVGe Vernova Llc3.18%745$749K484
012METAMeta Platforms Inc3.16%1,035$744K704
013CBOECboe Holdings Inc2.92%2,263$688K332
014SNASnap-On Inc2.92%1,904$686K310
015CHEChemed Corp2.73%1,284$642K176

Showing 1–15 of 37 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$11,252
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. KONG $11,252. SPY $12,044. Use the arrow keys to read each point.$9,408$10,832$12,255Oct 2025Apr 2026Oct 2026

Oct 10, 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 KONG. Periods over one year show the average yearly return.
PeriodKONG
Year to date+10.0%
1 month+3.3%
3 months+5.9%
1 year+12.5%
3 yearsper year+10.3%
5 yearsper year+7.4%
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 KONG
YearReturn barKONG
2026 YTD+10.0%
2025+6.6%
2024+9.7%
2023+12.7%
2022−9.6%
2021+5.1%

History from Jul 22, 2021

KONG in the news

Filtered to KONG · US Active Equity

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 Oct 12, 2026.
0.33%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

KONG Risk

How much the fund’s monthly returns vary, scaled to a year.
9.8%
Annualised · 36 months to Sep 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.
0.53
vs 3-month T-bills · to Sep 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.

KONG Cost

Expense ratio0.89%
  • The middle half of US Active Equity funds
  • Median 0.70%

92 of the 123 US Active Equity funds charge less.

KONG costs $89.00 a year on $10,000. The median US Active Equity fund costs $70.00.

Other funds in US Active Equity

See others