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
$ 5.9 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 | 6.4 % |
| TEXAS PACIFIC LAND CORPORATION | 5.6 % |
| WILLIAMS COS INC | 5.4 % |
| WATERBRIDGE INFRASTRUCTURE LLC | 4.5 % |
| PERMIAN BASIN ROYALTY TRUST | 4.5 % |
| SUNCOR ENERGY INC | 4.5 % |
| ENERFLEX LTD | 4.3 % |
| EQT CORP | 4.2 % |
| CHENIERE ENERGY INC | 3.6 % |
| PRAIRIESKY ROYALTY LTD | 3.4 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 354 |
| Wgt avg mkt cap (mns) | $52,120 |
| Large cap (>$10bn) | 48.0% |
| Mid cap ($2-10bn) | 30.9% |
| Small cap (<$2bn) | 15.9% |
| Developed mkts. | 93.7% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 68.3 % |
 |
CANADA | 22.2 % |
 |
BRITAIN | 1.4 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 18.5% | 33.0% | 16.1% | 18.7% | -- | -- | -- | 14.9% |
| Dividend Yield | 0.0% | 1.2% | 1.4% | 1.5% | -- | -- | -- | 1.3% |
| Total Returns | 18.5% | 34.2% | 17.5% | 20.2% | -- | -- | -- | 16.2% | Ann. Volatility | 17.7% | 16.1% | 20.4% | 19.0% | -- | -- | -- | 19.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.34 | 6% |
| MSCI EAFE | 0.18 | 3% |
| MSCI Emg Mkts | 0.14 | 3% |
Liquidity Measures
| Avg. volume (000) | 1 |
| ADV traded (mns) | $0 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.44% |
Technical Indicators
| 30d moving avg. (EMA) | $39.77 |
| Relative strength (RSI) | 47 |
| MACD/Signal | -0.01/0.15 |
| Bollinger Bands (Upper/Lower) | $41.43/$38.38 |
| Short interest (% of AUM) | 2.2% |
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 |
|---|---|---|---|---|
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 32.9% | -45 bp | +2.7% |
| TEXX | Horizon Kinetics Texas ETF | 28.0% | 0 bp | +1.7% |
| FXN | First Trust Energy AlphaDEX Fund | 27.8% | -23 bp | +4.4% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 27.6% | -25 bp | +3.1% |
| IYE | iShares U.S. Energy ETF | 24.7% | -45 bp | +1.3% |
| XLE | Energy Select Sector SPDR | 24.3% | -77 bp | +1.5% |
| FENY | Fidelity MSCI Energy Index ETF | 23.9% | -77 bp | +1.5% |
| LNGX | Global X U.S. Natural Gas ETF | 22.7% | -40 bp | +4.4% |
| DRLL | Strive U.S. Energy ETF | 21.8% | -44 bp | +2.2% |
| BESF | Bastion Energy ETF | 21.7% | -5 bp | +0.5% |
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.
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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 6/3/2026
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
5.6%
ALTAR SCORE™
70th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 727 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
$41.52
PRICE TARGET
+4.7%
UPSIDE
Bid/Ask Spreads
44 bp
AVG SPREAD
26 —
104 bp
RANGE