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Corgi Funds Launches Record 34 ETFs

The U.S. ETF industry saw its single-largest new ETF rollout in history when issuer Corgi Funds launched 34 actively managed funds on the Cboe BZX exchange. The new products are a mix of thematic and buffer equity ETFs, with many of the thematic ETFs offering new exposures.Key Takeaways Corgi Strategies has set a new record for the U.S. ETF industry with a “blitz” rollout of 34 funds. The wave of launches introduces several “first-to-market” exposures, including city-specific funds for New York and the Bay Area, as well as funds covering niche categories. The ETFs are competitively priced, with most of the thematic ETFs charging 35 basis points and the buffered ETFs charging 30. Corgi Funds is not entirely a newcomer to the ETF space. At the start of the year, it launched the passively managed Corgi Founder-Led ETF (FDRS), which has roughly $80 million in assets under management. The issuer is part of The Corgi Company, which describes itself as an “AI financial infrastructure company.” It represents the asset management operations of the parent firm, which also provides business insurance to startups through Corgi Insure. Some of the notable standouts in the launch include two locally focused first-to-market funds. The Corgi Bay Area Based ETF (BAY) and the Corgi NYC Based ETF (NYNY) target companies headquartered in San Francisco and New York City, respectively. Both come with expense ratios of 0.20%. The remaining 26 thematic ETFs each have an expense ratio of 0.35%. Among the notable first-of-their kind funds included in the launch are highly focused products covering the beauty industry, caffeinated beverages, lifestyle companies, and the buy now/pay later space. All of Corgi’s thematic ETFs implement traditional bottom-up security selection. Meanwhile, the buffered ETFs operate similarly to existing products offered by competitors. As such, each ETF is tied to a reference product, tracking its price performance via FLEX options, and protects against a set percentage in downside performance over a one-year outcome period. Each has an expense ratio of 0.30%. The reference ETFs for the Corgi products include the SPDR S&P 500 ETF (SPY A-), the Invesco QQQ Trust (QQQ B), the iShares Russell 2000 ETF (IWM A-) and the iShares EAFE ETF (EFA A). The new funds are listed below:For more news, information, and strategy, visit ETFdb.

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