NVIR
Horizon Kinetics Energy and Remediation ETF
NVIR is actively managed to provide concentrated exposure to firms that are engaged in producing hydrocarbon-based energy or related remediation companies. Companies may be domiciled anywhere around the globe and of any capitalization.
Global
EQUITY
Active
MANAGEMENT STYLE
$ 5.1 M
ASSETS UNDER MGMT
85 bp
EXPENSES
Fund Basics
| Inception date | Feb 22, 2023 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CES ENERGY SOLUTIONS CORP | 6.6 % |
| WILLIAMS COS INC | 5.3 % |
| PERMIAN BASIN ROYALTY TRUST | 5.2 % |
| TEXAS PACIFIC LAND CORPORATION | 4.9 % |
| WATERBRIDGE INFRASTRUCTURE LLC | 4.7 % |
| SUNCOR ENERGY INC | 4.5 % |
| CHENIERE ENERGY INC | 4.5 % |
| EQT CORP | 4.0 % |
| ENERFLEX LTD | 3.6 % |
| PRAIRIESKY ROYALTY LTD | 3.6 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 348 |
| Wgt avg mkt cap (mns) | $45,255 |
| Large cap (>$10bn) | 50.5% |
| Mid cap ($2-10bn) | 28.2% |
| Small cap (<$2bn) | 12.0% |
| Developed mkts. | 90.7% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 67.6 % |
 |
CANADA | 21.5 % |
 |
BRITAIN | 1.1 % |
Historical Performance
Standardized Performance (as of 08/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 23.9% | 30.0% | 17.3% | 13.8% | -- | -- | -- | 15.2% |
| Dividend Yield | 0.0% | 1.2% | 1.4% | 1.4% | -- | -- | -- | 1.2% |
| Total Returns | 23.9% | 31.2% | 18.7% | 15.2% | -- | -- | -- | 16.5% | Ann. Volatility | 17.7% | 17.1% | 20.4% | 19.1% | -- | -- | -- | 19.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.26 | 4% |
| MSCI EAFE | 0.17 | 2% |
| MSCI Emg Mkts | 0.13 | 4% |
Liquidity Measures
| Avg. volume (000) | 0 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.43% |
Technical Indicators
| 30d moving avg. (EMA) | $39.30 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.38/0.24 |
| Bollinger Bands (Upper/Lower) | $40.67/$38.11 |
| Short interest (% of AUM) | 0.1% |
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. NVIR |
Expenses vs. NVIR |
ALTAR Score™ vs. NVIR |
|---|---|---|---|---|
| TEXX | Horizon Kinetics Texas ETF | 28.6% | 0 bp | +1.5% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 27.0% | -25 bp | +2.3% |
| GXPE | Global X PureCap MSCI Energy ETF | 24.2% | -60 bp | +0.7% |
| FENY | Fidelity MSCI Energy Index ETF | 23.9% | -77 bp | +0.9% |
| XLE | Energy Select Sector SPDR | 23.8% | -77 bp | +0.9% |
| IYE | iShares U.S. Energy ETF | 23.6% | -45 bp | +0.8% |
| FXN | First Trust Energy AlphaDEX Fund | 23.2% | -23 bp | +3.8% |
| LNGX | Global X U.S. Natural Gas ETF | 23.2% | -40 bp | +4.0% |
| VDE | Vanguard Energy ETF | 22.7% | -76 bp | +0.9% |
| WR | Corgi U.S. War Machine ETF | 21.5% | -50 bp | +0.2% |
Risk and Returns: NVIR 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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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 9/6/2026
Peer Group Comparison
Sample data. Subscribe for access.
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.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Rating
5.6%
ALTAR SCORE™
70th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 734 funds in the Global Equity category with an average
ALTAR Score™ of 4.3% and a standard deviation
of 2.6%. NVIR's ALTAR Score™ is approximately 0.5 standard
deviations above the category average. This places NVIR in the 70th percentile
among funds in the category.
Sell-Side Consensus
$41.87
PRICE TARGET
+3.1%
UPSIDE
Bid/Ask Spreads
43 bp
AVG SPREAD
29 —
129 bp
RANGE