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
23.8 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) | $252,453 |
| Large cap (>$10bn) | 87.3% |
| Mid cap ($2-10bn) | 12.7% |
| 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 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.4% | 17.1% | 11.6% | 4.7% | -- | -- | 2.3% | Volatility | 12.6% | 12.2% | 12.1% | 14.5% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.67 | 78% |
| MSCI EAFE | 0.63 | 70% |
| MSCI Emg Mkts | 0.45 | 34% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 1.57% |
| ADV of underlying (mns) | $70,141 |
Technical Indicators
| Recent close | $29.79 |
| 30d moving avg. | $29.32 |
| Annualized volatility | 13.3% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
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 | 18.8% | -74 bp | -0.3% |
| SEIQ | SEI Enhanced U.S. Large Cap Quality Factor ETF | 17.0% | -74 bp | +1.8% |
| FLRG | Fidelity U.S. Multifactor ETF | 16.7% | -74 bp | +1.8% |
| SDEP | SFP Core Equity Strategy | 16.5% | -79 bp | +0.8% |
| QDEF | FlexShares Quality Dividend Defensive Index Fund | 16.1% | -52 bp | -1.6% |
| QTOP | iShares Nasdaq Top 30 Stocks ETF | 15.9% | -69 bp | -0.9% |
| SXQG | ETC 6 Meridian Quality Growth ETF | 15.5% | +11 bp | -1.5% |
| FDG | American Century Focused Dynamic Growth ETF | 15.5% | -44 bp | -2.9% |
| JPEF | JPMorgan Equity Focus ETF | 15.5% | -39 bp | -1.6% |
| DRUP | GraniteShares Nasdaq Select Disruptors ETF | 15.5% | -29 bp | -1.7% |
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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
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.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
5.6%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. KONG's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places KONG in the 52nd 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 | 156.7 | 245.7 |
| Peer Avg. | 67.8 | 48.9 | 116.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .