Corgi launched a plethora of new ETFs this week as the VC-funded startup looks to make a splash in the ETF space.

On Wednesday, the firm announced the launch of 28 actively managed thematic ETFs tied to everything from AI cybersecurity to quantum computing to the Mag 7. In addition, the firm launched six buffer ETFs on Wednesday, on top of the three it launched 
on May 1.

The firm previously launched the Corgi Founder-Led ETF (FDRS) and the Corgi Founder-Led 2x Daily ETF (FDRX) in late December and mid-January, which have $82 million and $18 million in AUM, respectively.

As Dave tweeted yesterday, many of these new ETFs are coming in with category-low fees. The Corgi Robots & Humanoids ETF (CBOT), for instance, has a 0.35% fee versus 0.68% for the Global X Robotics & AI ETF (BOTZ), while the Corgi Magnificent 7 ETF (CMAG) has an expense ratio of 0.2% versus 0.3% for the Roundhill Magnificent Seven ETF (MAGS).

 

Corgi ETF launch: fee check

34 planned ETFs vs. the closest live competitor by theme. AUM is for the comparator, not the new Corgi fund.

Comparator = largest close-live ETF/proxy; not always a perfect one-for-one theme match. Corgi fees from SEC advisory-fee exhibit; competitor AUM/fees from issuer/ETF data pages gathered May 5, 2026.

Each of Corgi's thematic funds has an expense ratio of between 0.2% and 0.35%, while the buffer ETFs have a 0.40% expense ratio with temporary fee waivers bringing that down to 0.30%.

The Spaghetti Cannon

Bloomberg senior ETF analyst Eric Balchunas has described ETF issuers as often launching a spaghetti cannon and seeing what sticks. This is the ultimate example of that. Corgi has hundreds more ETFs filed that it will be launching in the coming months.

But while the spaghetti cannon isn't new, Corgi is taking it to the next level using a playbook familiar to the tech industry but maybe not so much to the ETF industry: using VC funding to undercut competitors and take over a market.

On Wednesday, the same day it launched 34 ETFs, it announced that it raised $160 million of Series B funding at a $1.3 billion valuation. Previously, the company had raised $108 million across Series A and seed rounds. 

Most of that money likely isn't going toward the ETF business, though. Corgi describes itself as a "full-stack insurance platform built for technology companies" and offers coverage for general liability, cyber liability, and tech and AI liability, among others. The company said in its funding announcement that it's also expanding into trucking. 

Will It Work?

We'll see what happens and whether Corgi’s funds resonate with investors. While many of the ETFs overlap with existing offerings, some are genuinely new and interesting. 

The Corgi Lithography & Semiconductor Photonics ETF (EUV), for instance, offers exposure to a segment of the AI trade that's been ripping recently. 

Similar to how memory stocks have ripped and propelled Roundhill Memory ETF (DRAM) into a multibillion-dollar ETF, photonics is a subsegment of the AI trade that some are gravitating toward, and there hasn't been a clean way to invest in a diversified basket of these names. EUV is the kind of fund that could justify Corgi's approach if it hits.

Most ETFs, though, never gather meaningful assets. Corgi is betting that with 34 launches and potentially hundreds more on the way, enough of them will hit to create a profitable business. The venture money buys time most issuers don't get.