INFL
Horizon Kinetics Inflation Beneficiaries ETF
INFL is an actively-managed fund seeking long-term capital growth in inflation-adjusted terms from companies expected to benefit, directly or indirectly, from inflation.
US
EQUITY
Active
MANAGEMENT STYLE
$ 1.5 B
ASSETS UNDER MGMT
85 bp
EXPENSES
Fund Basics
| Inception date | Jan 11, 2021 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| LANDBRIDGE CORP | 7.0 % |
| PRAIRIESKY ROYALTY LTD | 5.5 % |
| SILVER WHEATON CORP | 5.4 % |
| WATERBRIDGE INFRASTRUCTURE LLC | 5.0 % |
| FRANCO-NEVADA CORP | 4.9 % |
| INTERCONTINENTALEXCHANGE INC | 4.9 % |
| TEXAS PACIFIC LAND CORPORATION | 3.9 % |
| CASH & OTHER | 3.8 % |
| DEUTSCHE BOERSE AG | 3.5 % |
| PERMIAN BASIN ROYALTY TRUST | 3.5 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 351 |
| Wgt avg mkt cap (mns) | $26,041 |
| Large cap (>$10bn) | 50.3% |
| Mid cap ($2-10bn) | 21.0% |
| Small cap (<$2bn) | 8.7% |
| Developed mkts. | 82.4% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 38.2 % |
 |
CANADA | 32.5 % |
 |
SINGAPORE | 3.8 % |
 |
GERMANY | 3.5 % |
 |
SWITZERLAND | 1.9 % |
 |
JAPAN | 1.6 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 12.8% | 12.2% | 15.5% | 18.1% | 11.4% | -- | -- | 12.8% |
| Dividend Yield | 0.7% | 0.9% | 1.4% | 1.7% | 1.7% | -- | -- | 1.6% |
| Total Returns | 13.4% | 13.1% | 16.9% | 19.8% | 13.1% | -- | -- | 14.4% | Ann. Volatility | 17.1% | 17.0% | 17.9% | 16.7% | 17.8% | -- | -- | 17.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 21% |
| MSCI EAFE | 0.55 | 26% |
| MSCI Emg Mkts | 0.30 | 20% |
Liquidity Measures
| Avg. volume (000) | 96 |
| ADV traded (mns) | $5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| 30d moving avg. (EMA) | $51.36 |
| Relative strength (RSI) | 42 |
| MACD/Signal | -0.34/-0.35 |
| Bollinger Bands (Upper/Lower) | $51.91/$50.24 |
| Short interest (% of AUM) | 0.3% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. INFL |
Expenses vs. INFL |
ALTAR Score™ vs. INFL |
|---|---|---|---|---|
| BCDF | Horizon Kinetics Blockchain Development ETF | 23.9% | 0 bp | +1.0% |
| FDIQ | Invesco Bloomberg Financial Data Providers ETF | 20.2% | -50 bp | +1.2% |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 17.0% | 0 bp | +2.5% |
| GOAU | U.S. Global GO GOLD and Precious Metal Miners ETF | 14.5% | -25 bp | +0.1% |
| SILJ | ETFMG Prime Junior Silver Miners ETF | 11.7% | -16 bp | -2.7% |
Risk and Returns: INFL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/5/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
3.5%
ALTAR SCORE™
14th
PERCENTILE
AVOID
ETFRC RATING
There are 1,388 funds in the US Equity category with an average
ALTAR Score™ of 5.7% and a standard deviation
of 2.1%. INFL's ALTAR Score™ is approximately -1.1 standard
deviations above the category average. This places INFL in the 14th percentile
among funds in the category.
Sell-Side Consensus
$61.28
PRICE TARGET
+24.7%
UPSIDE