Corgi's New ETF Says Founders Make Better Bosses Than Hired CEOs

Corgi Strategies has officially launched its first fund, the Founder-Led ETF (NASDAQ:FDRS), which started trading on the Nasdaq on Dec. 30, 2025. Two days later, they celebrated with a bell-ringing ceremony at the Nasdaq MarketSite, a sign that someone believes this idea has promise.

Investment Strategy: Targeting Innovation and Long-Term Focus

FDRS is based on a straightforward but growing idea: companies led by their founders often focus on the long term, innovate more effectively, and remain close to their customers compared to those managed by professionals. Instead of trying to find the next great CEO, the ETF combines this philosophy into a single, rules-based product.

The fund tracks the Founder-Led Index – Benchmark TR Gross, which selects the 50 largest U.S.-listed public companies that are still founder-led, based on free-float market capitalization. These aren't small startups; they are established companies where the original founder is still in charge or closely involved.

In a post on LinkedIn, Corgi CEO Nico Laqua noted that the idea for FDRS came from observing patterns among founder-led businesses. He explained that such companies often have leaders who stay engaged in product development, look beyond quarterly earnings, and continue to innovate even as they grow. FDRS is designed to make it easier for investors to tap into this part of the market without building a portfolio stock by stock.

FDRS Key Stats: Fees, Ticker, and Structure

In terms of structure, FDRS is quite simple. The ETF is issued by Corgi Strategies LLC, trades on Nasdaq under the ticker FDRS, and has an expense ratio of 0.49%. This fee is slightly higher than broad-market ETFs but aligns with other thematic or strategy-focused funds that target specific traits or leadership styles.

The Growing Trend of Founder-Centric Investing

In recent years, founder-led strategies have gained attention as investors seek potential performance linked to governance and incentives. While the idea is not new, FDRS is one of the latest attempts to turn it into a clear, index-based ETF.

Whether founder leadership results in long-term outperformance is a discussion that will continue among investors. For now, FDRS provides a straightforward way to express that belief, betting that having the founder in control still makes a difference even after the company has matured.

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