KONG
Formidable Fortress ETF
KONG seeks to provide long-term capital appreciation by actively selecting a narrow basket of large- and midcap stocks.
US
EQUITY
Active
MANAGEMENT STYLE
23.9 M
ASSETS UNDER MGMT
89 bp
EXPENSES
Fund Basics
| Fund sponsor | Formidable Asset Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 22, 2021 |
| Assets (mns) | $24 |
| Expense ratio | 89 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TEXAS PACIFIC LAND CORPORATION | 4.9 % |
| MARKETAXESS HOLDINGS INC | 3.7 % |
| ARCHER-DANIELS-MIDLAND CO | 3.5 % |
| S&P GLOBAL, INC. | 3.4 % |
| GAMING AND LEISURE PROPERTIE | 3.4 % |
| REGENERON PHARMACEUTICALS | 3.2 % |
| JOHNSON & JOHNSON | 3.2 % |
| AMDOCS LTD | 3.2 % |
| ADOBE SYSTEMS INC | 3.1 % |
| F5 NETWORKS INC | 3.1 % |
Constituent Breakdown
| Number of holdings | 58 |
| Herfindahl-Hirschman Index | 328 |
| Wgt avg mkt cap (mns) | $247,328 |
| Large cap (>$10bn) | 91.1% |
| Mid cap ($2-10bn) | 8.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.9 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 14.0% | 18.6% | 11.3% | 7.5% | -- | -- | 3.8% | Volatility | 12.6% | 12.2% | 12.1% | 14.5% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.68 | 79% |
| MSCI EAFE | 0.62 | 65% |
| MSCI Emg Mkts | 0.42 | 30% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 1.59% |
| ADV of underlying (mns) | $51,334 |
Technical Indicators
| Recent close | $28.98 |
| 30d moving avg. | $30.37 |
| Annualized volatility | 13.4% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. KONG |
Expenses vs. KONG |
ALTAR Score™ vs. KONG |
|---|---|---|---|---|
| QUAL | iShares MSCI USA Quality Factor ETF | 17.8% | -74 bp | -0.4% |
| SEIQ | SEI Enhanced U.S. Large Cap Quality Factor ETF | 17.0% | -74 bp | +1.7% |
| FLRG | Fidelity U.S. Multifactor ETF | 16.7% | -74 bp | +1.8% |
| SDEP | SFP Core Equity Strategy | 16.5% | -79 bp | +0.4% |
| QDEF | FlexShares Quality Dividend Defensive Index Fund | 16.1% | -52 bp | -1.9% |
| SXQG | ETC 6 Meridian Quality Growth ETF | 15.5% | +11 bp | -1.7% |
| FDG | American Century Focused Dynamic Growth ETF | 15.5% | -44 bp | -3.3% |
| JPEF | JPMorgan Equity Focus ETF | 15.5% | -39 bp | -1.8% |
| DRUP | GraniteShares Nasdaq Select Disruptors ETF | 15.5% | -29 bp | -2.1% |
| CGGR | Capital Group Growth ETF | 15.5% | -50 bp | -2.6% |
Risk and Returns: KONG vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/18/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
KONG
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
KONG
5.9%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. KONG's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places KONG in the 54th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KONGSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| KONG (89 bp) Percentile rank | 74 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KONG | 89.0 | 158.6 | 247.6 |
| Peer Avg. | 66.5 | 47.6 | 114.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .