Trader Joe's incredible ability to pull this off in general, and inability to replicate Huy Fong (at least, last I tried) is a big part of what convinces me that Huy Fong must be doing something really special in how they make their sauce.
I haven't done a side by side with it, but the red dragon sauce is damn good.
Maybe a bit different than Huy Fong, but it checks the box for me.
Side note, the main mechanism TJs and other store brands use to pull off this trick is to have the original manufacturers produce the product for them as a white label product.