KONG vs. XCLR

Last updated Aug 4, 2026

KONG (Formidable Fortress ETF) and XCLR (Global X S&P 500 Collar 95-110 ETF) are both Equity Hedged funds. KONG is actively managed, while XCLR is passively managed. Over the past 3 years, KONG returned 8.47%/yr vs 13.18%/yr for XCLR. Their 0.74 correlation means they have sometimes moved together and sometimes differently. KONG charges 0.89%/yr vs 0.25%/yr for XCLR.

Performance

KONG vs. XCLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Formidable Fortress ETF (KONG) and Global X S&P 500 Collar 95-110 ETF (XCLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KONG achieves a 5.64% return, which is significantly higher than XCLR's 3.31% return.

KONG

• 1D: 1.18%
• 1M: 2.29%
• 6M: 4.16%
• YTD: 5.64%
• 1Y: 7.92%
• 3Y*: 8.47%
• 5Y*: 5.52%
• 10Y*: —
• ALL TIME*: 5.71%

XCLR

• 1D: 1.30%
• 1M: 1.06%
• 6M: 1.84%
• YTD: 3.31%
• 1Y: 10.73%
• 3Y*: 13.18%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KONG Formidable Fortress ETF	$14.69K	$9.34K	$25.25K
XCLR Global X S&P 500 Collar 95-110 ETF	$116.79K	$58.97K	$34.71K

KONG vs. XCLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KONG Formidable Fortress ETF	5.64%	6.56%	9.67%	12.71%	-9.63%	2.85%
XCLR Global X S&P 500 Collar 95-110 ETF	3.31%	10.25%	20.67%	15.64%	-12.93%	3.30%

Correlation

The correlation between KONG and XCLR is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.74

The correlation between KONG and XCLR has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

KONG vs. XCLR - Sectors Allocation Comparison

Sectors	KONG	XCLR
Technology	31.3%	37.5%
Industrials	14.4%	7.7%
Healthcare	13.1%	9.0%
Financial Services	7.7%	12.1%
Communication Services	7.3%	9.1%
Real Estate	5.7%	1.9%
Energy	5.5%	3.4%
Basic Materials	4.7%	1.9%
Consumer Cyclical	2.8%	8.7%
Utilities	2.4%	2.7%
Consumer Defensive	2.1%	4.6%

Return for Risk

KONG vs. XCLR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KONG

KONG Risk / Return Rank: 29
KONG Sharpe Ratio Rank: 28
KONG Sortino Ratio Rank: 27
KONG Omega Ratio Rank: 26
KONG Calmar Ratio Rank: 28
KONG Martin Ratio Rank: 34

XCLR

XCLR Risk / Return Rank: 45
XCLR Sharpe Ratio Rank: 49
XCLR Sortino Ratio Rank: 46
XCLR Omega Ratio Rank: 48
XCLR Calmar Ratio Rank: 37
XCLR Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KONG vs. XCLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Formidable Fortress ETF (KONG) and Global X S&P 500 Collar 95-110 ETF (XCLR). 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.

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	XCLR	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.25	-0.54
Sortino ratio: Return per unit of downside risk	1.06	1.76	-0.69
Omega ratio: Gain probability vs. loss probability	1.13	1.23	-0.10
Calmar ratio: Return relative to maximum drawdown	0.93	1.30	-0.37
Martin ratio: Return relative to average drawdown	3.48	5.16	-1.67

KONG vs. XCLR - Sharpe Ratio Comparison

The current KONG Sharpe Ratio is 0.71, which is lower than the XCLR Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of KONG and XCLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KONG vs. XCLR - Drawdown Comparison

The maximum KONG drawdown since its inception was -19.98%, which is greater than XCLR's maximum drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for KONG and XCLR.

Drawdown Indicators

	KONG	XCLR	Difference
Max Drawdown Largest peak-to-trough decline	-19.98%	-14.63%	-5.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-8.29%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.48%	-12.46%	-3.02%
Max Drawdown (5Y) Largest decline over 5 years	-18.34%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.68%	-4.57%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	2.09%	+0.19%

Volatility

KONG vs. XCLR - Volatility Comparison

Formidable Fortress ETF (KONG) has a higher volatility of 3.44% compared to Global X S&P 500 Collar 95-110 ETF (XCLR) at 2.88%. This indicates that KONG's price experiences larger fluctuations and is considered to be riskier than XCLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KONG	XCLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	2.88%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	6.14%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.20%	8.64%	+2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	10.36%	+3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.50%	10.36%	+4.14%

KONG vs. XCLR - Expense Ratio Comparison

KONG has a 0.89% expense ratio, which is higher than XCLR's 0.25% expense ratio.

Dividends

KONG vs. XCLR - Dividend Comparison

KONG's dividend yield for the trailing twelve months is around 0.35%, less than XCLR's 12.71% yield.

Position	TTM	2025	2024	2023	2022	2021
KONG Formidable Fortress ETF	0.35%	0.37%	0.78%	0.69%	0.49%	0.12%
XCLR Global X S&P 500 Collar 95-110 ETF	12.71%	13.15%	18.76%	1.40%	1.01%	1.70%

Frequently Asked Questions

Can I hold both KONG and XCLR in my portfolio?

KONG and XCLR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KONG or XCLR?

KONG has higher volatility (3.44%) compared to XCLR (2.88%). In terms of maximum drawdown, KONG dropped -19.98% vs XCLR's -14.63%.

Which ETF is better, KONG or XCLR?

On 3-year performance, XCLR leads with 13.18% vs 8.47% for KONG. On fees, XCLR is cheaper at 0.25% per year. On volatility, XCLR has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KONG or XCLR?

Over the 3-year period, XCLR has performed better with a 13.18% return vs 8.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KONG or XCLR?

XCLR is cheaper with a 0.25% expense ratio, compared with 0.89% for KONG.

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

XCLR has the higher dividend yield at 12.71%, compared with 0.35% for KONG.

What is the main difference between KONG and XCLR?

They also come from different issuers: Formidable and Global X. Their fees differ too: 0.89% for KONG and 0.25% for XCLR.

Which has better risk-adjusted returns?

XCLR currently has the higher Sharpe Ratio (1.25 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.