FDRS vs LRND: Grades, Fees and Holdings Compared

Founder-Led ETF

FDRSDNasdaq

NYLI U.S. Large Cap R&D Leaders ETF

LRNDANasdaq

Overlap

25.0%by weight

Expense ratio

LRND −0.35pt a year

FDRS0.49%LRND0.14%

Avg volume · 30D

FDRS 1.7×the volume

FDRS71.9KLRND42.7K

FDRS vs LRND Performance

Dec 31, 2025 – Nov 2, 2026

−1.5%FDRS+8.5%LRND

Expense ratio: FDRS 0.49%; LRND 0.14%, better
Fund size: FDRS $8M; LRND $456M
1Y total return: FDRS No data; LRND +7.4%
Yield (12M): FDRS No data; LRND 0.34%
Holdings: FDRS 51; LRND 110
Avg volume (30D): FDRS 71.9K sh, better; LRND 42.7K sh
NAV per share: FDRS $24.24; LRND $44.74
52W range

ETF.net Grade

Pillar letters and Scores for FDRS, LRND, with each pillar’s weight
Pillar	FDRS	LRND
Cost30% weight	C40	A100Higher
Mission25% weight	Not scored	B55
Risk15% weight	D25	B62Higher
Tradability15% weight	C53	A80Higher
Holdings10% weight	D32Higher	F22
Durability5% weight	C54	A74Higher

Rank among US Thematic funds

How we build Categories ›

Same Category. FDRS and LRND are both graded against the same 22 US Thematic funds, so their Grades compare head to head.

US Thematic⁠

Category · 22 funds

See all 22 ›

LRND ranks 1st and FDRS 17th of 22 funds in the US Thematic Category.

Rank 1ALRNDNYLI U.S. Large Cap R&D Leaders ETFScore 76
Rank 2ATECBiShares U.S. Tech Breakthrough Multisector ETFScore 71
Rank 17CBUZZVanEck Social Sentiment ETFScore 39
Rank 17DFDRSFounder-Led ETFScore 39
Rank 17DHALXTuttle Capital Heavy Assets Low Obsolescence ETFScore 39

Our read on each fund

ETF.net Research

FDRSDFounder-Led ETF

LRNDANYLI U.S. Large Cap R&D Leaders ETF

In short

FDRS Most 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.

LRND No data

Stated mandate

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

LRND No data

Why people hold it

FDRS The 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
Rules-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
Fifty founder-run names in one ticker, a theme most investors otherwise have to assemble one stock at a time.sec.gov

LRND No data

Worth knowing

FDRS At 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.
Fifty stocks is concentrated. One company's stumble lands harder here than it would inside a broad-market index.sec.gov
Young fund, young index: it launched in late 2025 with a small asset base, so there's little live track record to judge it on.

LRND No data

Full FDRS profile⁠

Full LRND profile⁠

FDRS vs LRND Holdings

How FDRS and LRND differ

Overlap by weight

25.0%

Shared holdings make up 46.8% of FDRS and 31.7% of LRND.

Level by level

Holdings17 in both25.0%
Countryby domicile96.1%
Asset classEquity100%

Sector

No Sector split for FDRS.

Country, concentration and asset class

Country by domicile

Country weights in FDRS and LRND, widest gap first
Country	More in FDRSMore in LRND	FDRS	LRND
United States	LRND +3.4 points	96.1%	99.5%
Canada	FDRS +3.3 points	3.3%	0.0%
Brazil	FDRS +0.6 points	0.6%	0.0%
Other countries (7)	LRND +0.5 points	0.0%	0.5%

Concentration

Weight in the 10 largest Holdings

FDRS62.1%
LRND69.4%

Securities held

FDRS51
LRND110

Asset class

FDRS: Equity
LRND: Equity

Holdings

Only in FDRS34
In both17
Only in LRND93

Only in FDRS

34 securities, 53.2% of FDRS by weight

Tesla Inc11.62%
Space Exploration Technologies Corp4.54%
Crowdstrike Holdings Inc3.39%
Oracle Corp3.12%
Shopify Inc2.61%
Salesforce Inc2.55%
Blackrock Inc2.29%
Danaher Corp2.05%
Charles Schwab Corp/The2.03%
Capital One Financial Corp1.80%
Intercontinental Exchange Inc1.35%
Blackstone Inc1.26%
Cloudflare Inc1.19%
First American Government Obligations Fund 12/01/20311.12%
DoorDash Inc1.02%
KKR & Co Inc0.95%
Robinhood Markets Inc0.93%
AppLovin Corp0.92%
Bloom Energy Corp0.77%
Apollo Global Management Inc0.71%
Carvana Co0.69%
Waste Connections Inc0.66%
Strategy Inc0.66%
NU Holdings Ltd/Cayman Islands0.60%
Block Inc0.58%
Astera Labs Inc0.50%
Nebius Group NV0.49%
Steel Dynamics Inc0.47%
Interactive Brokers Group Inc0.47%
Okta Inc0.43%
Coinbase Global Inc0.42%
Ares Management Corp0.39%
ROBLOX Corp0.39%
CoreWeave Inc0.28%

Only in LRND

93 securities, 68.3% of LRND by weight

Alphabet Inc. Class A10.92%
Apple Inc.10.31%
Microsoft Corporation8.08%
Eli Lilly and Company4.93%
Broadcom Inc.4.38%
Advanced Micro Devices, Inc.3.81%
Cisco Systems, Inc.1.91%
Applied Materials, Inc.1.43%
Amgen Inc.1.41%
Lam Research Corporation1.38%
PepsiCo, Inc.1.05%
QUALCOMM Incorporated0.80%
Marvell Technology, Inc.0.80%
Vertex Pharmaceuticals Incorporated0.79%
Vanguard Information Technology ETF0.75%
State Street Technology Select Sector SPDR ETF0.75%
Fidelity MSCI Information Technology Index ETF0.74%
State Street Communication Services Select Sector SPDR ETF0.72%
Automatic Data Processing, Inc.0.65%
VanEck Pharmaceutical ETF0.58%
Vanguard Communication Services ETF0.57%
State Street Consumer Discretionary Select Sector SPDR ETF0.56%
Trane Technologies plc0.51%
ServiceNow, Inc.0.50%
Vertiv Holdings Co. Class A0.50%
Snowflake, Inc.0.50%
Adobe Inc.0.46%
Sherwin-Williams Company0.45%
Illinois Tool Works Inc.0.44%
Colgate-Palmolive Company0.43%
Intuit Inc.0.42%
Cadence Design Systems, Inc.0.42%
Synopsys, Inc.0.41%
Garmin Ltd.0.29%
Vylor Inc0.27%
Cash0.27%
Keysight Technologies Inc0.24%
Autodesk, Inc.0.24%
Mettler-Toledo International Inc.0.19%
ResMed Inc.0.19%
Zoetis, Inc. Class A0.18%
DexCom, Inc.0.17%
SharkNinja, Inc.0.16%
Ubiquiti Inc.0.16%
Veralto Corporation0.15%
United Therapeutics Corporation0.14%
Church & Dwight Co., Inc.0.14%
Atlassian Corp Class A0.14%
Insmed Incorporated0.14%
Hershey Company0.14%

Weight gaps

All 17 Holdings in both funds, largest gap first.

Holding weights in FDRS and LRND, widest gap first
Holding	More in FDRSMore in LRND	FDRS	LRND
NVIDIA CorpNVDA	LRND +6.76 points	9.60%	16.36%
Amazon.com IncAMZN	FDRS +5.71 points	10.27%	4.56%
Meta Platforms IncMETA	FDRS +4.75 points	8.84%	4.09%
Palantir Technologies IncPLTR	FDRS +3.58 points	5.54%	1.96%
Arista Networks IncANET	FDRS +1.45 points	2.43%	0.98%
Airbnb IncABNB	FDRS +1.01 points	1.40%	0.39%
Dell Technologies IncDELL	FDRS +0.99 points	1.61%	0.62%
Regeneron Pharmaceuticals IncREGN	FDRS +0.80 points	1.33%	0.53%
Fortinet IncFTNT	FDRS +0.64 points	1.10%	0.46%
Datadog IncDDOG	FDRS +0.63 points	0.99%	0.36%
Monolithic Power Systems IncMPWR	FDRS +0.54 points	0.82%	0.28%
Workday IncWDAY	FDRS +0.36 points	0.54%	0.18%
Veeva Systems IncVEEV	FDRS +0.36 points	0.64%	0.28%
Everpure IncP	FDRS +0.30 points	0.50%	0.20%
Axon Enterprise IncAXON	FDRS +0.27 points	0.46%	0.19%
Rocket Lab CorpRKLB	FDRS +0.25 points	0.43%	0.18%
Credo Technology Group Holding LtdCRDO	FDRS +0.20 points	0.33%	0.13%

All FDRS holdings⁠All 107 LRND holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FDRS vs LRND Cost

Overpaying FDRS vs LRND

$6,860

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

FDRS 0.49%
$9,792
LRND 0.14%
$2,932

Amount$10,000

Years30 years

Cost over time

FDRS 0.49%
LRND 0.14%
Overpaying

Year by year

Year	FDRS	LRND	Overpaying
10	$883	$256	$627
20	$3,394	$1,000	$2,394
30	$9,792	$2,932	$6,860

Expense ratio

0.49%FDRS
0.14%LRND, cheaper

LRND0.14%FDRS0.49%

0.14%0.87%

Middle half of US Thematic funds
Median 0.35%

LRND cheapest of 22 funds

FDRS 13th cheapest of 22 funds

FDRS vs LRND Dividends

Last 12 months to Nov 2, 2026

Yield (12M): FDRS No data; LRND 0.34%
Payout (12M): FDRS None; LRND $0.15
Last payment: FDRS No data; LRND $0.04
Ex-dividend: FDRS No data; LRND Sep 30, 2026
Paid on: FDRS No data; LRND Oct 2, 2026
Frequency: FDRS No data; LRND Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

FDRSAll FDRS payments⁠

No distribution history available.

LRNDQuarterly · 19 paymentsAll LRND payments⁠

FDRS vs LRND Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FDRS No dataLRND 15.9%
Return per unit of riskSharpe ratio, 3 years: FDRS No dataLRND 1.13
Worst fallMax drawdown, 5 years: FDRS No dataLRND −25.4%since Feb 2022
Market sensitivityBeta, 5 years: FDRS 1.37LRND 1.06; Market = 1

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