Corgi Invest has launched 14 fixed income exchange-traded funds spanning U.S. Treasuries, Treasury Inflation-Protected Securities, aggregate bonds, investment-grade corporate bonds, high-yield credit, and fallen angels, with annual expense ratios ranging from 0.02% to 0.08%.
Seven of the new ETFs carry an annual expense ratio of 0.02%, equivalent to approximately $2 in annual fund operating expenses for every $10,000 invested, assuming the investment value remains constant. Six funds are priced at 0.05%, while one carries a 0.08% expense ratio.
The lineup is designed to provide both core fixed income allocations and more targeted maturity and credit exposures. Each ETF seeks to track a corresponding FTSE index before fees and expenses.
Among the lowest-priced products are the Corgi FTSE U.S. Treasury Bond ETF (UB), Corgi FTSE U.S. TIPS Bond ETF (TTTT), Corgi FTSE U.S. Aggregate Bond ETF (AGGB), and Corgi FTSE U.S. IG Corporate Bond ETF (IGB), each with a 0.02% annual expense ratio.
The 0.02% group also includes the Corgi FTSE 10-20 Year U.S. Treasury Bond ETF (TNTW), Corgi FTSE 5-10 Year IG Corporate Bond ETF (FTN), and Corgi FTSE 10+ Year IG Corporate Bond ETF (LIGB).
At 0.05%, the lineup includes the Corgi FTSE 7-10 Year U.S. Treasury Bond ETF (SVTN), Corgi FTSE 20+ Year U.S. Treasury Bond ETF (LTB), Corgi FTSE Aaa-A Intermediate Corporate Bond ETF (AAAB), Corgi FTSE BBB Rated Corporate Bond ETF (BBBB), Corgi FTSE High Yield Corporate Bond ETF (HH), and Corgi FTSE Intermediate Government/Credit Bond ETF (GCB).
The Corgi FTSE Fallen Angels Bond ETF (ANG) carries the lineup’s highest expense ratio at 0.08%.
Corgi highlighted fee differences between several of its funds and established ETFs. TTTT carries a 0.02% expense ratio compared with 0.18% for the iShares TIPS Bond ETF and 0.03% for the Schwab U.S. TIPS ETF. ANG is priced at 0.08%, compared with 0.25% for both the iShares Fallen Angels USD Bond ETF and VanEck Fallen Angel High Yield Bond ETF.
The company also noted that its Corgi FTSE High Yield Corporate Bond ETF charges 0.05%, compared with 0.49% for the iShares iBoxx $ High Yield Corporate Bond ETF. However, some competing products carry equal or lower fees, including the State Street SPDR Portfolio High Yield Bond ETF at 0.05% and Schwab High Yield Bond ETF at 0.03%.
Corgi emphasized that expense ratios alone do not determine investment performance. The funds and comparison ETFs can track different indexes and vary materially in duration, credit quality, maturity exposure, holdings, liquidity, and trading costs.
Corgi Invest offers ETFs across fixed income, equity, and structured strategies, with Corgi Strategies serving as investment adviser to the funds.
