- Inception Date
- Jul 22, 2021
- Region
- Global (Broad)
- Category
- Volatility Hedged Equity
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $22M
Share Price Chart
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Performance
KONG Performance Chart
Formidable Fortress ETF (KONG) is down 0.4% since the beginning of the year. KONG is currently trading at $30 per share.
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Returns By Period
Formidable Fortress ETF (KONG) has returned -0.42% so far this year and 5.65% over the past 12 months.
Formidable Fortress ETF
- 1D
- -0.15%
- 1M
- -1.89%
- YTD
- -0.42%
- 6M
- -1.48%
- 1Y
- 5.65%
- 3Y*
- 7.83%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KONG Monthly Returns History
Based on dividend-adjusted daily data since Jul 22, 2021, KONG's average daily return is +0.02%, while the average monthly return is +0.44%. At this rate, an investment would double in approximately 13.2 years.
Historically, 58% of months were positive and 42% were negative. The best month was Jul 2021 with a return of +7.9%, while the worst month was Jan 2022 at -6.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, KONG closed higher 53% of trading days. The best single day was Jul 30, 2021 with a return of +6.9%, while the worst single day was Aug 2, 2021 at -6.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.36% | -0.92% | -3.72% | 4.07% | 1.86% | -2.85% | -0.42% | ||||||
| 2025 | 3.27% | -2.17% | -2.45% | -0.76% | 3.75% | 1.51% | 1.72% | 0.33% | 1.07% | -1.52% | 0.26% | 1.59% | 6.56% |
| 2024 | -1.54% | 3.94% | 2.40% | -5.67% | 1.88% | 0.80% | 4.34% | 2.33% | 1.43% | 1.00% | 5.14% | -6.06% | 9.67% |
| 2023 | 4.52% | -1.01% | 2.21% | -1.01% | -3.33% | 5.07% | 1.60% | 1.66% | -2.87% | -2.17% | 3.82% | 4.03% | 12.71% |
| 2022 | -6.57% | -1.35% | 1.13% | -5.49% | 1.16% | -4.08% | 6.31% | -3.38% | -4.81% | 6.10% | 5.66% | -3.56% | -9.63% |
| 2021 | 7.88% | -4.75% | -6.42% | 5.39% | -3.06% | 7.04% | 5.15% |
Benchmark Metrics
Formidable Fortress ETF has an annualized alpha of -2.85%, beta of 0.68, and R2 of 0.63 versus S&P 500 Index. Calculated based on daily prices since July 22, 2021.
- This ETF participated in 80.14% of S&P 500 Index downside but only 57.27% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.85% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 0.68 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -2.85%
- Beta
- 0.68
- R²
- 0.63
- Upside Capture
- 57.27%
- Downside Capture
- 80.14%
Expense Ratio
KONG has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
KONG ranks 17 for risk / return — in the bottom 17% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Formidable Fortress ETF (KONG) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KONG | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.37 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.78 | -2.12 |
| Martin ratioReturn relative to average drawdown | 2.57 | 12.44 | -9.87 |
Dividends
Dividend History
Formidable Fortress ETF provided a 0.37% dividend yield over the last twelve months, with an annual payout of $0.11 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.11 | $0.11 | $0.22 | $0.18 | $0.12 | $0.03 |
Dividend yield | 0.37% | 0.37% | 0.78% | 0.69% | 0.49% | 0.12% |
Monthly Dividends
The table displays the monthly dividend distributions for Formidable Fortress ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.22 | $0.22 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2021 | $0.03 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Formidable Fortress ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Formidable Fortress ETF was 19.98%, occurring on Jun 16, 2022. Recovery took 423 trading sessions.
The current Formidable Fortress ETF drawdown is 3.85%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -19.98%Jun 2022 | 10mo 18d | 1y 8mo | 2y 6moAug 2021 - Feb 2024 |
2025 selloff2025 | -15.48%Apr 2025 | 4mo 12d | 8mo 7d | 1y 14dNov 2024 - Dec 2025 |
2026 pullback2026 | -8.54%Mar 2026 | 1mo 27d | 2mo 6d | 4mo 3dJan 2026 - Jun 2026 |
2024 pullback2024 | -6.13%May 2024 | 1mo | 2mo 15d | 3mo 15dApr 2024 - Jul 2024 |
2024 pullback2024 | -5.63%Sep 2024 | 0s | 13d | 13dSep 2024 - Sep 2024 |
Drawdown Indicators
| KONG | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.98% | -56.78% | +36.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -9.10% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -15.48% | -18.90% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -3.85% | -1.80% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -10.71% | +4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.03% | +0.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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