EELV vs. KONG

Last updated Jun 5, 2026

EELV (Invesco S&P Emerging Markets Low Volatility ETF) and KONG (Formidable Fortress ETF) are both Volatility Hedged Equity funds. EELV is passively managed, while KONG is actively managed. Over the past 3 years, EELV returned 10.86%/yr vs 9.63%/yr for KONG. At a 0.50 correlation, their price movements are largely independent. EELV charges 0.30%/yr vs 0.89%/yr for KONG.

Performance

EELV vs. KONG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Formidable Fortress ETF (KONG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EELV achieves a 4.49% return, which is significantly higher than KONG's 3.01% return.

EELV

• 1D: 0.50%
• 1M: -1.73%
• YTD: 4.49%
• 6M: 5.24%
• 1Y: 14.63%
• 3Y*: 10.86%
• 5Y*: 6.92%
• 10Y*: 6.55%

KONG

• 1D: 0.38%
• 1M: 1.88%
• YTD: 3.01%
• 6M: 3.36%
• 1Y: 7.65%
• 3Y*: 9.63%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EELV vs. KONG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EELV Invesco S&P Emerging Markets Low Volatility ETF	4.49%	21.97%	1.90%	8.85%	-3.98%	5.65%
KONG Formidable Fortress ETF	3.01%	6.56%	9.67%	12.71%	-9.63%	5.07%

Correlation

The correlation between EELV and KONG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 23, 2021	0.50

EELV vs. KONG - Sectors Allocation Comparison

Sectors	EELV	KONG
Financial Services	37.4%	9.3%
Consumer Defensive	10.8%	3.4%
Communication Services	9.6%	7.7%
Utilities	9.6%	-
Industrials	8.9%	15.7%
Energy	6.5%	5.0%
Healthcare	5.4%	13.3%
Basic Materials	5.3%	3.6%
Consumer Cyclical	3.8%	2.9%
Real Estate	2.6%	6.1%
Technology	0.2%	33.1%

Return for Risk

EELV vs. KONG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EELV

EELV Risk / Return Rank: 38
EELV Sharpe Ratio Rank: 39
EELV Sortino Ratio Rank: 38
EELV Omega Ratio Rank: 38
EELV Calmar Ratio Rank: 37
EELV Martin Ratio Rank: 39

KONG

KONG Risk / Return Rank: 22
KONG Sharpe Ratio Rank: 22
KONG Sortino Ratio Rank: 21
KONG Omega Ratio Rank: 20
KONG Calmar Ratio Rank: 21
KONG Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EELV vs. KONG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Formidable Fortress ETF (KONG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EELV	KONG	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.71	+0.64
Sortino ratio: Return per unit of downside risk	1.93	1.06	+0.87
Omega ratio: Gain probability vs. loss probability	1.25	1.13	+0.12
Calmar ratio: Return relative to maximum drawdown	1.79	0.90	+0.89
Martin ratio: Return relative to average drawdown	6.02	3.61	+2.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EELV vs. KONG - Sharpe Ratio Comparison

The current EELV Sharpe Ratio is 1.35, which is higher than the KONG Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of EELV and KONG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EELV	KONG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.71	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.37	-0.06

Drawdowns

EELV vs. KONG - Drawdown Comparison

The maximum EELV drawdown since its inception was -36.35%, which is greater than KONG's maximum drawdown of -19.98%. Use the drawdown chart below to compare losses from any high point for EELV and KONG.

Drawdown Indicators

	EELV	KONG	Difference
Max Drawdown Largest peak-to-trough decline	-36.35%	-19.98%	-16.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-8.54%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-15.48%	+3.69%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.35%	—	—
Current Drawdown Current decline from peak	-4.24%	-0.54%	-3.70%
Average Drawdown Average peak-to-trough decline	-8.93%	-5.81%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.12%	+0.32%

Volatility

EELV vs. KONG - Volatility Comparison

Invesco S&P Emerging Markets Low Volatility ETF (EELV) has a higher volatility of 3.39% compared to Formidable Fortress ETF (KONG) at 2.25%. This indicates that EELV's price experiences larger fluctuations and is considered to be riskier than KONG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EELV	KONG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	2.25%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	8.53%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	10.84%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.36%	14.59%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	14.59%	-0.95%

EELV vs. KONG - Expense Ratio Comparison

EELV has a 0.30% expense ratio, which is lower than KONG's 0.89% expense ratio.

Dividends

EELV vs. KONG - Dividend Comparison

EELV's dividend yield for the trailing twelve months is around 3.58%, more than KONG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.58%	3.75%	4.70%	4.00%	3.45%	4.35%	2.82%	3.14%	5.50%	2.92%	2.29%	2.53%
KONG Formidable Fortress ETF	0.36%	0.37%	0.78%	0.69%	0.49%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EELV and KONG in my portfolio?

EELV and KONG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EELV or KONG?

EELV has higher volatility (3.39%) compared to KONG (2.25%). In terms of maximum drawdown, EELV dropped -36.35% vs KONG's -19.98%.

Which ETF is better, EELV or KONG?

On 3-year performance, EELV leads with 10.86% vs 9.63% for KONG. On fees, EELV is cheaper at 0.30% per year. On volatility, KONG has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EELV or KONG?

Over the 3-year period, EELV has performed better with a 10.86% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EELV or KONG?

EELV is cheaper with a 0.30% expense ratio, compared with 0.89% for KONG.

Which ETF pays a higher dividend yield, EELV or KONG?

EELV has the higher dividend yield at 3.58%, compared with 0.36% for KONG.

What is the main difference between EELV and KONG?

They also come from different issuers: Invesco and Formidable Asset Management. Their fees differ too: 0.30% for EELV and 0.89% for KONG.

Which has better risk-adjusted returns?

EELV currently has the higher Sharpe Ratio (1.35 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.