KONG
We believe an active approach may be an efficient way to provide exposure to mid, and large-cap stocks.
Why KONG?
Active
Driven by our research process, not a passive index.
Analytical
Research seeks to identify quality companies with capital discipline and lower market volatility.
Adaptable
Hedging strategies seek to help protect against significant market declines.
KONG – Fund Details
| Inception Date | Management Style | CUSIP: | Total Gross Expense Ratio |
| 7/21/2021 | Active | 26923N504 | 0.89 |
| Asset Class | Exchange | Advisor |
| Equity | Cboe BZX Exchange, Inc. | Formidable Asset Management |
| As of Date | NAV($) | Market Price($) | Premium/Discount |
| 5/20/2026 | 31.0459 | 31.0306 | -0.0493 |
| 30 Day Median Bid/Ask | Shares Outstanding | Total Net Assets |
| 0.013833 | 700,000 | 21,721,420.00 |
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Fund Performance
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| NAV % | Market % | |
|---|---|---|
| ROLLING | ||
| 1 Month | 0.54 | 0.44 |
| 3 Month | 0.62 | 0.55 |
| YTD | 1.85 | 1.61 |
| SINCE INCEPTION |
||
| Daily (as of 5/20/2026) | 24.18 | 24.12 |
| Monthly (as of 4/30/2026) | 22.9 | 22.93 |
| Quarterly (as of 3/31/2026) | 17.99 | 18.12 |
| HISTORIC | ||
| Last Month (as of 4/21/2026) | 4.1 | 4.07 |
| Last Quarter (as of 3/31/2026) | -3.14 | -3.08 |
| Last Year (as of 12/31/2025) | 6.03 | 6.3 |
* Inception dates used for calculations since ETF launched in 2021.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The gross expense ratio is [etfinfo etf=”KONG” aum=”NO” expratio=”YES”].
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. See the details section for the gross expense ratio.
Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.
Fund Objectives
The Fund seeks capital appreciation by investing primarily in equity securities.
Fund Documents
- Fact Sheet
- Formidable Switch Exchange – Press Release
- Formidable Supplement – Change of Listing Exchang
- Prospectus
- Summary Prospectus
- Premium Discount Chart
- CY 2025 Premium Discount Chart
- Semi-Annual Tailored Shareholder Report
- Annual Tailored Shareholder Report
- Form N-PX – June, 2025
- Q1 – Schedule of Investments
- Q3 – Schedule of Investments
- Statement of Additional Information dated July 31, 2025
- Semi-Annual Financial Statements & Other Information
- Annual Financial Statements and Other Information
Premium Discount
Premium – The number of trading days the ETF’s closing price exceeds its NAV.
Discount – The number of trading days the ETF’s closing price is below its NAV.
| Number of Days At | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 | 2026 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premium | 40 | 50 | 26 | 18 | 7 | 17 | 6 | 10 | 7 | 20 | 37 | 56 | 47 |
| Discount | 22 | 12 | 35 | 45 | 53 | 46 | 57 | 51 | 53 | 40 | 26 | 9 | 13 |
Fund Holdings
Fund holdings are subject to change without notice. Holdings are as of market close on 5/20/2026
| ETF Ticker | Description | Ticker | Weight | Market Value | FIGI | Shares Held |
|---|---|---|---|---|---|---|
| KONG | ADBE US 06/18/26 C270 | -0.03% | -7,560.00 | -8.00 | ||
| KONG | ADOBE SYSTEMS INC | ADBE | 2.63% | 571,095.98 | BBG000BB5006 | 2,254.00 |
| KONG | ALPHABET INC-CL C | GOOG | 1.70% | 369,504.00 | BBG009S3NB30 | 960.00 |
| KONG | AUTOMATIC DATA PROCESSING | ADP | 1.64% | 355,752.28 | BBG000JG0547 | 1,612.00 |
| KONG | CASH AND CASH EQUIVALENTS | 11.46% | 2,490,685.97 | 2,490,685.97 | ||
| KONG | CHEMED CORP | CHE | 2.61% | 567,027.24 | BBG000C19QW1 | 1,284.00 |
| KONG | CONTRA ABIOMED INC COMMON STOCK | 0.00% | 0.00 | BBG01F3NM7X5 | 1,065.00 | |
| KONG | DEVON ENERGY CORP | DVN | 2.03% | 441,131.38 | BBG000BBVJZ8 | 9,103.00 |
| KONG | DVN US 06/18/26 C47.5 | -0.06% | -14,100.00 | -50.00 | ||
| KONG | EMCOR Group Inc. | EME | 3.67% | 796,842.10 | BBG000BBRPL4 | 934.00 |
| KONG | ERIE INDEMNITY COMPANY-CL A | ERIE | 1.42% | 307,566.95 | BBG000BBTJZ1 | 1,385.00 |
| KONG | F5 Inc | FFIV | 3.87% | 840,941.58 | BBG000CXYSZ6 | 2,199.00 |
| KONG | FAST US 06/18/26 C47.5 | -0.01% | -1,800.00 | -75.00 | ||
| KONG | FASTENAL CO | FAST | 4.77% | 1,036,089.60 | BBG000BJ8YN7 | 23,720.00 |
| KONG | GAMING AND LEISURE PROPERTIE | GLPI | 2.80% | 608,051.94 | BBG003MSMCS6 | 12,877.00 |
| KONG | GRACO INC | GGG | 2.44% | 529,208.40 | BBG000BK9W84 | 7,028.00 |
| KONG | INTERACTIVE BROKERS GRO-CL A | IBKR | 3.40% | 739,530.54 | BBG000LV0836 | 8,826.00 |
| KONG | INTUIT INC | INTU | 1.58% | 344,385.21 | BBG000BH5DV1 | 897.00 |
| KONG | JACK HENRY | JKHY | 2.23% | 484,616.12 | BBG000BMH2Q7 | 3,466.00 |
| KONG | JOHNSON & JOHNSON | JNJ | 2.19% | 475,151.04 | BBG000BMHYD1 | 2,072.00 |
| KONG | META PLATFORMS INC | META | 4.73% | 1,028,602.00 | BBG000MM2P62 | 1,700.00 |
| KONG | META US 06/18/26 C740 | 0.00% | -696.00 | -6.00 | ||
| KONG | MICROSOFT CORP | MSFT | 5.38% | 1,170,125.74 | BBG000BPH459 | 2,779.00 |
| KONG | MONSTER BEVERAGE CORP | MNST | 2.00% | 433,878.72 | BBG008NVB1C0 | 4,994.00 |
| KONG | MSFT US 06/18/26 C500 | 0.00% | -612.00 | -9.00 | ||
| KONG | NOW US 06/18/26 C105 | -0.05% | -11,458.00 | -17.00 | ||
| KONG | NVDA US 06/18/26 C270 | -0.01% | -1,560.00 | -12.00 | ||
| KONG | NVIDIA CORP | NVDA | 3.98% | 864,605.43 | BBG000BBJQV0 | 3,869.00 |
| KONG | PSA US 06/18/26 C350 | 0.00% | -175.00 | -7.00 | ||
| KONG | PUBLIC STORAGE | PSA | 2.88% | 624,820.81 | BBG000BPPN67 | 2,063.00 |
| KONG | PULTEGROUP INC | PHM | 2.56% | 556,304.10 | BBG000BR54L0 | 4,785.00 |
| KONG | REGENERON PHARMACEUTICALS | REGN | 2.53% | 550,346.72 | BBG000C734W3 | 847.00 |
| KONG | RELIANCE STEEL & ALUMINUM | RS | 3.32% | 721,621.92 | BBG000CJ2181 | 1,992.00 |
| KONG | RS US 06/18/26 C390 | -0.01% | -1,431.00 | -9.00 | ||
| KONG | S&P GLOBAL INC | SPGI | 2.51% | 545,866.09 | BBG000BP1Q11 | 1,309.00 |
| KONG | SERVICENOW INC | NOW | 5.24% | 1,138,882.50 | BBG000M1R011 | 11,025.00 |
| KONG | SNAP-ON INC | SNA | 3.18% | 691,742.24 | BBG000BT7JW9 | 1,904.00 |
| KONG | SNPS US 06/18/26 C580 | -0.01% | -2,920.00 | -4.00 | ||
| KONG | SPY US 05/22/26 P690 | 0.00% | -150.00 | -75.00 | ||
| KONG | SPY US 05/22/26 P710 | 0.00% | 675.00 | 75.00 | ||
| KONG | SPY US 06/18/26 P670 | -0.06% | -13,500.00 | -100.00 | ||
| KONG | SPY US 06/18/26 P695 | 0.13% | 27,700.00 | 100.00 | ||
| KONG | SYNOPSYS INC | SNPS | 4.09% | 888,095.40 | BBG000BSFRF3 | 1,780.00 |
| KONG | TEXAS PACIFIC LAND TRUST | TPL | 2.34% | 508,797.92 | BBG00YRJXKB1 | 1,264.00 |
| KONG | TPL US 06/18/26 C470 | 0.00% | -1,040.00 | -4.00 | ||
| KONG | United Therapeutics Corp. | UTHR | 2.66% | 577,464.32 | BBG000BV4XJ1 | 1,024.00 |
| KONG | VERTEX PHARMACEUTICALS INC | VRTX | 2.31% | 501,462.60 | BBG000C1S2X2 | 1,165.00 |