Corgi Invest Launches MANGOS ETF Targeting Private AI Giants

The fund, which began trading on the Cboe BZX Exchange on October 2, tracks the "MANGOS" portfolio: Meta Platforms, Anthropic, NVIDIA, Google (Alphabet), OpenAI, and SpaceX. By utilizing cash-settled total return swaps, the fund provides retail investors a way to track the performance of private entities without requiring accreditation or enduring long-term capital lockups. According to Jeff Weniger, Chief Investment Strategist at Corgi Invest, the goal is to democratize access to high-conviction themes previously reserved for industry insiders.

While the fund offers a unique entry point, it operates with specific guardrails. Exposure to OpenAI and Anthropic is capped at 15% of net assets to manage liquidity risks, and the underlying swap valuations rely on perpetual futures contracts rather than direct share ownership. The fund carries an annual operating expense ratio of 0.20% and remains non-diversified, concentrating its assets across just six companies. Investors should note that because the fund is newly launched and relies on derivative instruments for private company exposure, it carries heightened risks compared to traditional, broad-market index funds.