At a glance
FDGR charges 0.79% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $2.6M in assets, the 8th largest of that group. Over the past year it returned +0.0% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +14.1% a year.
The short version
Foundations Dynamic Growth ETF (FDGR) is an actively managed fund of funds holding US growth-stock ETFs, mostly from Vanguard. What sets it apart is a volatility model: in choppy markets it can shift up to 100% into Treasury bills and other cash-like holdings; in calm ones it can use Nasdaq-100 futures to lift stock exposure to 150%. It charges 0.79% yearly and had just $2.6 million in assets as of April 30, 2025.
Price history
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FDGR 0.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FDGR price data to Oct 27, 2026 | 0.0% | 0.0% | +14.1% | — | — | +12.7% |
- Over the year to Oct 27, 2026, FDGR returned 0.0%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+2.6%); its best was 2024 (+24.2%).
- The deepest fall in its price history was 20.2% (Dec 16, 2024 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +2.6% |
| 2024 | +24.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Apr 30, 2025, the fund held 5 securities; the ten largest made up 89.25% of assets.
| Fund held | Weight | |
|---|---|---|
| VANGUARD GRW ETF | 45.80% | |
| VANGUARD MEGA CA | 13.79% | |
| ISHARES CORE S&P | 13.67% | |
| VANGUARD M/C GRW | 8.40% | |
| VANGUARD S/C G E | 7.60% |
By country
United States 89.25%By asset type
Stocks 89.25%What changed recently
- Over the three months to Apr 30, 2025, investors added a net $930K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.25%, -6.65%, +1.49%.
How it works
FDGR, from Anfield Group, is actively managed: a sub-adviser picks its holdings rather than copying one index. It owns mainly passively managed ETFs that track US growth-stock indexes, mostly large-company funds. Growth stocks belong to companies expected to grow profits or revenues faster than average. As of April 30, 2025, it held five funds: Vanguard Growth ETF (about 46%), a Vanguard mega-cap fund (14%), an iShares Core S&P fund (14%), Vanguard Mid-Cap Growth (8%) and Vanguard Small-Cap Growth (8%).
Stock exposure moves with market volatility. Each day a third-party model called V-Mod measures intraday volatility, meaning how widely prices swing within the day, against a target of about 10%. When swings run above target, the sub-adviser may cut stock exposure and move up to 100% of assets into cash-like holdings such as Treasury bills and inflation-protected securities. When swings fall below target, it may add Nasdaq-100 index futures, contracts tied to the index's price, to raise stock exposure to as much as 150%.
Futures create leverage, magnifying gains and losses. The sub-adviser decides trade size and timing, rebalancing at least quarterly and possibly more often. Actual volatility may run materially higher than the target, which the prospectus says offers no assurance about maximum losses. The April 30, 2025 holdings report showed no futures positions.
What it really costs
- FDGR charges 0.79% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $81 in the first year and $978 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FDGR | $81 | $252 | $439 | $978 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It is a small, actively managed growth-stock fund that can use futures to reach 150% stock exposure and has only about three years of history.
FDGR could add growth-stock exposure with a model-guided attempt to pull back when markets turn rough. It launched October 2, 2023, so it missed the 2008 financial crisis, the 2020 COVID crash and the 2022 bear market. Its weakest calendar year, 2025, was still a 2.6% gain, after 24.2% in 2024. But it fell 20.2% from December 16, 2024 to April 8, 2025, and had not regained that peak as of October 27, 2026. Its three-year volatility of 16.4% ran well above the roughly 10% target. Anyone needing money during that slump could have had to cash out shares at a loss.
It paid no income in the year to October 27, 2026. Costs are 0.79% a year, or $978 over 10 years in the SEC's standard $10,000 example. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking US growth-stock exposure with a manager able to move up to 100% into Treasury bills and similar holdings when swings spike.
- Those comfortable with futures-based leverage, since FDGR can lift stock exposure to 150% through Nasdaq-100 futures when markets are calm.
- Investors wanting one fund spread across large-, mid- and small-company stock ETFs with a growth tilt, mostly Vanguard's, for a 0.79% expense ratio.
Look elsewhere if
- Investors seeking regular income: FDGR made no distributions in the year to October 27, 2026.
- Those wanting a defined loss cushion like buffer ETFs aim for; FDGR has none and fell 20.2% from December 2024 to April 2025.
- Those wary of tiny funds: FDGR held about $2.6 million as of April 30, 2025, raising closure risk and possibly wider trading spreads.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| FDGR this fund | 0.79% | $2.6M | 0.0% | +14.1% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does FDGR invest in?
FDGR invests mainly in other ETFs that track US growth-stock indexes. As of April 30, 2025, it held five: Vanguard Growth ETF at about 46% of assets, a Vanguard mega-cap fund and an iShares Core S&P fund at about 14% each, and Vanguard's mid-cap and small-cap growth ETFs at about 8% each. Together they made up about 89% of assets. The sub-adviser reviews the lineup at least quarterly, and can also add Nasdaq-100 futures or shift into Treasury bills.
How does FDGR's volatility target work?
A third-party model called V-Mod measures intraday market volatility daily against a target of about 10%. When swings run above target, the sub-adviser may cut stock exposure and move up to 100% into Treasury bills and other cash-like holdings. When swings fall below target, it may use Nasdaq-100 futures to raise exposure to 150% of assets, which adds leverage. The target is not a guarantee: FDGR's three-year volatility was 16.4% as of October 27, 2026, and the prospectus says the target gives no assurance about maximum losses.
How much has FDGR fallen in a market downturn?
Its deepest drop was 20.2%, from December 16, 2024 to April 8, 2025, and the fund had not regained that peak as of October 27, 2026. Even so, it finished 2025 with a 2.6% gain, after rising 24.2% in 2024. Because it launched October 2, 2023, it has no record through the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market, so its volatility controls have not faced those tests.
What's the difference between FDGR and BUFR?
They manage risk differently. Buffer, or defined-outcome, ETFs such as FT Vest Laddered Buffer ETF (BUFR) are built around options that cushion a set range of losses over fixed periods, in exchange for capped gains. FDGR has no buffer or cap; it raises or cuts stock exposure based on a volatility model. FDGR costs less, 0.79% a year versus 0.95%, but is far smaller. Over the three years to October 27, 2026, BUFR returned 16.8% a year and FDGR 14.1%.
Does FDGR pay dividends?
No. FDGR made no distributions in the year to October 27, 2026, so its yield over that period was 0%. Its objective is capital appreciation, meaning growth in share value, not income. Anyone wanting spending money from it would have to cash out shares. Costs still apply: its 0.79% expense ratio, the yearly fee as a percentage of assets, works out to $81 in the first year and $978 over 10 years on $10,000 in the SEC's standard example, which assumes a 5% annual return.