The Horizon Kinetics Inflation Beneficiaries ETF is an actively managed ETF that seeks long-term growth of capital in real (inflation-adjusted) terms. It seeks to achieve its investment objective by investing primarily in domestic and foreign equity securities of companies that are expected to benefit, either directly or indirectly, from rising prices of real assets (i.e., assets whose value is mainly derived from physical properties such as commodities) such as those whose revenues are expected to increase with inflation without corresponding increases in expenses.
Data as of: 10/03/2023
-
Ticker
INFL
-
CUSIP
53656F623
-
ISIN
US53656F6236
-
Fund Type
Active Equity ETF
-
Exchange
NYSE
-
Inception Date
1/11/2021
-
Expense Ratio
0.85%
-
Typical Number of Holdings
20 to 60
-
Net Assets
$845,533,271
Data as of: 10/04/2023
Daily Holdings
-
% Net Assets
6.58%
-
Name
TEXAS PACIFIC LAND CORPORATION COM
-
Ticker
TPL
-
CUSIP
88262P102
-
Shares Held
31,221
-
Market Value
$55,667,980
-
% Net Assets
6.26%
-
Name
PRAIRIESKY ROYALTY LTD
-
Ticker
PSK CN
-
CUSIP
BN320L4
-
Shares Held
2,989,979
-
Market Value
$52,940,620
-
% Net Assets
4.84%
-
Name
VIPER ENERGY PARTNERS LP
-
Ticker
VNOM
-
CUSIP
92763M105
-
Shares Held
1,487,873
-
Market Value
$40,886,750
-
% Net Assets
4.62%
-
Name
ARCHER DANIELS MIDLAND CO
-
Ticker
ADM
-
CUSIP
039483102
-
Shares Held
529,082
-
Market Value
$39,051,542
-
% Net Assets
4.56%
-
Name
WHEATON PRECIOUS METALS CORP COM
-
Ticker
WPM
-
CUSIP
962879102
-
Shares Held
982,297
-
Market Value
$38,545,334
-
% Net Assets
4.05%
-
Name
FRANCO NEV CORP
-
Ticker
FNV
-
CUSIP
351858105
-
Shares Held
262,694
-
Market Value
$34,221,147
-
% Net Assets
4.02%
-
Name
INTERCONTINENTAL EXCHANGE INC COM
-
Ticker
ICE
-
CUSIP
45866F104
-
Shares Held
316,311
-
Market Value
$34,031,900
-
% Net Assets
3.88%
-
Name
MARSH & MCLENNAN COS INC
-
Ticker
MMC
-
CUSIP
571748102
-
Shares Held
173,656
-
Market Value
$32,774,097
-
% Net Assets
3.70%
-
Name
GLENCORE PLC
-
Ticker
GLEN LN
-
CUSIP
B4T3BW6
-
Shares Held
5,722,116
-
Market Value
$31,326,083
-
% Net Assets
3.64%
-
Name
BUNGE LIMITED
-
Ticker
BG
-
CUSIP
G16962105
-
Shares Held
290,955
-
Market Value
$30,762,672
-
% Net Assets
3.20%
-
Name
CHENIERE ENERGY INC
-
Ticker
LNG
-
CUSIP
16411R208
-
Shares Held
166,588
-
Market Value
$27,088,875
-
% Net Assets
3.07%
-
Name
SITIO ROYALTIES CORP
-
Ticker
STR
-
CUSIP
82983N108
-
Shares Held
1,111,835
-
Market Value
$25,961,347
-
% Net Assets
2.86%
-
Name
DEUTSCHE BOERSE AG
-
Ticker
DB1 GR
-
CUSIP
7021963
-
Shares Held
144,391
-
Market Value
$24,185,920
-
% Net Assets
2.76%
-
Name
CACI INTL INC
-
Ticker
CACI
-
CUSIP
127190304
-
Shares Held
75,313
-
Market Value
$23,338,746
-
% Net Assets
2.68%
-
Name
WEST FRASER TIMBER CO LTD
-
Ticker
WFG
-
CUSIP
952845105
-
Shares Held
326,327
-
Market Value
$22,676,463
-
% Net Assets
2.47%
-
Name
CHARLES RIV LABS INTL INC
-
Ticker
CRL
-
CUSIP
159864107
-
Shares Held
108,962
-
Market Value
$20,885,836
-
% Net Assets
2.44%
-
Name
CAMECO CORP
-
Ticker
CCJ
-
CUSIP
13321L108
-
Shares Held
556,811
-
Market Value
$20,646,552
-
% Net Assets
2.36%
-
Name
SINGAPORE EXCHANGE
-
Ticker
SGX SP
-
CUSIP
6303866
-
Shares Held
2,812,733
-
Market Value
$19,949,768
-
% Net Assets
2.29%
-
Name
CBRE GROUP INC
-
Ticker
CBRE
-
CUSIP
12504L109
-
Shares Held
271,102
-
Market Value
$19,337,706
-
% Net Assets
2.26%
-
Name
ASX LTD
-
Ticker
ASX AU
-
CUSIP
6129222
-
Shares Held
539,678
-
Market Value
$19,118,458
-
% Net Assets
2.22%
-
Name
PERMIAN BASIN RTY TR
-
Ticker
PBT
-
CUSIP
714236106
-
Shares Held
928,474
-
Market Value
$18,810,883
-
% Net Assets
2.11%
-
Name
NUTRIEN LTD
-
Ticker
NTR
-
CUSIP
67077M108
-
Shares Held
311,931
-
Market Value
$17,845,573
-
% Net Assets
2.11%
-
Name
TMX GROUP LTD
-
Ticker
X CN
-
CUSIP
B8KH5G7
-
Shares Held
850,455
-
Market Value
$17,823,072
-
% Net Assets
2.04%
-
Name
OSISKO GOLD ROYALTIES LTD
-
Ticker
OR
-
CUSIP
68827L101
-
Shares Held
1,506,804
-
Market Value
$17,283,042
-
% Net Assets
1.92%
-
Name
Cash & Other
-
Ticker
Cash&Other
-
CUSIP
Cash&Other
-
Shares Held
16,243,259
-
Market Value
$16,243,259
-
% Net Assets
1.86%
-
Name
DETERRA ROYALTIES
-
Ticker
DRR AU
-
CUSIP
BJP5T05
-
Shares Held
5,343,307
-
Market Value
$15,762,961
-
% Net Assets
1.72%
-
Name
CME GROUP INC
-
Ticker
CME
-
CUSIP
12572Q105
-
Shares Held
72,080
-
Market Value
$14,535,653
-
% Net Assets
1.69%
-
Name
ST JOE CO
-
Ticker
JOE
-
CUSIP
790148100
-
Shares Held
269,276
-
Market Value
$14,314,712
-
% Net Assets
1.66%
-
Name
AURUBIS AG
-
Ticker
NDA GR
-
CUSIP
5485527
-
Shares Held
198,045
-
Market Value
$14,003,664
-
% Net Assets
1.32%
-
Name
WILMAR INTERL LTD
-
Ticker
WIL SP
-
CUSIP
B17KC69
-
Shares Held
4,170,357
-
Market Value
$11,145,247
-
% Net Assets
1.11%
-
Name
MESABI TR
-
Ticker
MSB
-
CUSIP
590672101
-
Shares Held
464,406
-
Market Value
$9,408,866
-
% Net Assets
1.02%
-
Name
SANDSTORM GOLD LTD
-
Ticker
SAND
-
CUSIP
80013R206
-
Shares Held
1,883,794
-
Market Value
$8,590,101
-
% Net Assets
0.90%
-
Name
ROYALTY PHARMA PLC
-
Ticker
RPRX
-
CUSIP
G7709Q104
-
Shares Held
280,687
-
Market Value
$7,578,549
-
% Net Assets
0.80%
-
Name
JAPAN EXCHANGE GP
-
Ticker
8697 JP
-
CUSIP
6743882
-
Shares Held
365,028
-
Market Value
$6,743,951
-
% Net Assets
0.80%
-
Name
TOPAZ ENERGY CORP
-
Ticker
TPZ CN
-
CUSIP
BMV3Y21
-
Shares Held
443,239
-
Market Value
$6,762,396
-
% Net Assets
0.76%
-
Name
ALTIUS MINERALS CORPORATION
-
Ticker
ALS CN
-
CUSIP
2122355
-
Shares Held
428,608
-
Market Value
$6,414,201
-
% Net Assets
0.72%
-
Name
DORCHESTER MINERALS LP
-
Ticker
DMLP
-
CUSIP
25820R105
-
Shares Held
209,949
-
Market Value
$6,117,914
-
% Net Assets
0.72%
-
Name
LABRADOR IRON ORE ROYALTY CO
-
Ticker
LIF CN
-
CUSIP
B8L02P3
-
Shares Held
271,750
-
Market Value
$6,071,464
-
% Net Assets
0.61%
-
Name
SPROTT INC
-
Ticker
SII
-
CUSIP
852066208
-
Shares Held
170,008
-
Market Value
$5,142,742
-
% Net Assets
0.49%
-
Name
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS
-
Ticker
BAM
-
CUSIP
113004105
-
Shares Held
133,499
-
Market Value
$4,181,189
-
% Net Assets
0.40%
-
Name
CLARKSON
-
Ticker
CKN LN
-
CUSIP
0201836
-
Shares Held
103,493
-
Market Value
$3,350,097
-
% Net Assets
0.17%
-
Name
SABINE RTY TR
-
Ticker
SBR
-
CUSIP
785688102
-
Shares Held
22,600
-
Market Value
$1,453,180
-
% Net Assets
0.14%
-
Name
METALLA RTY & STREAMING LTD
-
Ticker
MTA
-
CUSIP
59124U605
-
Shares Held
390,000
-
Market Value
$1,177,800
-
% Net Assets
0.09%
-
Name
Lithium Royalty Corp
-
Ticker
LIRC CN
-
CUSIP
BMF9CX2
-
Shares Held
100,000
-
Market Value
$746,437
-
% Net Assets
0.07%
-
Name
SAN JUAN BASIN RTY TR
-
Ticker
SJT
-
CUSIP
798241105
-
Shares Held
90,181
-
Market Value
$610,525
Data as of: 10/04/2023
Daily Holdings
-
% Net Assets
Name
Ticker
CUSIP
Shares Held
Market Value
-
6.58%
TEXAS PACIFIC LAND CORPORATION COM
TPL
88262P102
31,221
$55,667,980
-
6.26%
PRAIRIESKY ROYALTY LTD
PSK CN
BN320L4
2,989,979
$52,940,620
-
4.84%
VIPER ENERGY PARTNERS LP
VNOM
92763M105
1,487,873
$40,886,750
-
4.62%
ARCHER DANIELS MIDLAND CO
ADM
039483102
529,082
$39,051,542
-
4.56%
WHEATON PRECIOUS METALS CORP COM
WPM
962879102
982,297
$38,545,334
-
4.05%
FRANCO NEV CORP
FNV
351858105
262,694
$34,221,147
-
4.02%
INTERCONTINENTAL EXCHANGE INC COM
ICE
45866F104
316,311
$34,031,900
-
3.88%
MARSH & MCLENNAN COS INC
MMC
571748102
173,656
$32,774,097
-
3.70%
GLENCORE PLC
GLEN LN
B4T3BW6
5,722,116
$31,326,083
-
3.64%
BUNGE LIMITED
BG
G16962105
290,955
$30,762,672
-
3.20%
CHENIERE ENERGY INC
LNG
16411R208
166,588
$27,088,875
-
3.07%
SITIO ROYALTIES CORP
STR
82983N108
1,111,835
$25,961,347
-
2.86%
DEUTSCHE BOERSE AG
DB1 GR
7021963
144,391
$24,185,920
-
2.76%
CACI INTL INC
CACI
127190304
75,313
$23,338,746
-
2.68%
WEST FRASER TIMBER CO LTD
WFG
952845105
326,327
$22,676,463
-
2.47%
CHARLES RIV LABS INTL INC
CRL
159864107
108,962
$20,885,836
-
2.44%
CAMECO CORP
CCJ
13321L108
556,811
$20,646,552
-
2.36%
SINGAPORE EXCHANGE
SGX SP
6303866
2,812,733
$19,949,768
-
2.29%
CBRE GROUP INC
CBRE
12504L109
271,102
$19,337,706
-
2.26%
ASX LTD
ASX AU
6129222
539,678
$19,118,458
-
2.22%
PERMIAN BASIN RTY TR
PBT
714236106
928,474
$18,810,883
-
2.11%
NUTRIEN LTD
NTR
67077M108
311,931
$17,845,573
-
2.11%
TMX GROUP LTD
X CN
B8KH5G7
850,455
$17,823,072
-
2.04%
OSISKO GOLD ROYALTIES LTD
OR
68827L101
1,506,804
$17,283,042
-
1.92%
Cash & Other
Cash&Other
Cash&Other
16,243,259
$16,243,259
-
1.86%
DETERRA ROYALTIES
DRR AU
BJP5T05
5,343,307
$15,762,961
-
1.72%
CME GROUP INC
CME
12572Q105
72,080
$14,535,653
-
1.69%
ST JOE CO
JOE
790148100
269,276
$14,314,712
-
1.66%
AURUBIS AG
NDA GR
5485527
198,045
$14,003,664
-
1.32%
WILMAR INTERL LTD
WIL SP
B17KC69
4,170,357
$11,145,247
-
1.11%
MESABI TR
MSB
590672101
464,406
$9,408,866
-
1.02%
SANDSTORM GOLD LTD
SAND
80013R206
1,883,794
$8,590,101
-
0.90%
ROYALTY PHARMA PLC
RPRX
G7709Q104
280,687
$7,578,549
-
0.80%
JAPAN EXCHANGE GP
8697 JP
6743882
365,028
$6,743,951
-
0.80%
TOPAZ ENERGY CORP
TPZ CN
BMV3Y21
443,239
$6,762,396
-
0.76%
ALTIUS MINERALS CORPORATION
ALS CN
2122355
428,608
$6,414,201
-
0.72%
DORCHESTER MINERALS LP
DMLP
25820R105
209,949
$6,117,914
-
0.72%
LABRADOR IRON ORE ROYALTY CO
LIF CN
B8L02P3
271,750
$6,071,464
-
0.61%
SPROTT INC
SII
852066208
170,008
$5,142,742
-
0.49%
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS
BAM
113004105
133,499
$4,181,189
-
0.40%
CLARKSON
CKN LN
0201836
103,493
$3,350,097
-
0.17%
SABINE RTY TR
SBR
785688102
22,600
$1,453,180
-
0.14%
METALLA RTY & STREAMING LTD
MTA
59124U605
390,000
$1,177,800
-
0.09%
Lithium Royalty Corp
LIRC CN
BMF9CX2
100,000
$746,437
-
0.07%
SAN JUAN BASIN RTY TR
SJT
798241105
90,181
$610,525
Data as of: 10/03/2023
-
Net Asset Value
$29.64
-
NAV Change
$-0.25
-
Median 30 Day Spread
%
-
Market Price
$29.60
-
Market Price Change
$-0.22
-
Premium/Discount
$-0.04 | -0.14%
Historical Data
Premium/Discount Range (%)
Date
-
Greatest Premium
N/A
-
Greatest Discount
-0.25% 10/02/2023
-
Number of Days At
-
Premium:
0
-
NAV:
0
-
Discount:
2
-
Days Within Percent of NAV
-
Percent of Days +/- 0.5% of NAV:
100%
-
Number of Days +/- 0.5% of NAV:
2
The Premium/Discount chart shows the difference between the daily market price of the Fund's shares and the Fund's net asset value ("NAV").
Data as of: 09/30/2023
-
NAV
-
1 Month
-3.32%
-
YTD
-2.07%
-
1 Year
11.07%
-
3 Year
--
-
5 Year
--
-
Since Inception Annualized
9.10%
-
Market Value
-
1 Month
-3.11%
-
YTD
-1.78%
-
1 Year
10.95%
-
3 Year
--
-
5 Year
--
-
Since Inception Annualized
9.19%
Data as of: 09/30/2023
-
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception Annualized
-
NAV
-3.11%
-1.78%
10.95%
--
--
9.19%
-
Market Value
-3.32%
-2.07%
11.07%
--
--
9.10%
Latest Distribution History
-
Ex-Dividend Date
September 27, 2023
-
Record Date
September 29, 2023
-
Payable Date
September 29, 2023
-
Income
$0.14963458
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.14963458
-
Ex-Dividend Date
June 28, 2023
-
Record Date
June 30, 2023
-
Payable Date
June 30, 2023
-
Income
$0.15777420
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.15777420
-
Ex-Dividend Date
March 29, 2023
-
Record Date
March 30, 2023
-
Payable Date
March 30, 2023
-
Income
$0.08044201
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.08044201
-
Ex-Dividend Date
December 28, 2022
-
Record Date
December 29, 2022
-
Payable Date
December 30, 2022
-
Income
$0.08365290
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.08365290
-
Ex-Dividend Date
Sept 28, 2022
-
Record Date
Sept 29, 2022
-
Payable Date
Sept 30, 2022
-
Income
$0.17040667
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.17040667
-
Ex-Dividend Date
June 28, 2022
-
Record Date
June 29, 2022
-
Payable Date
June 30, 2022
-
Income
$0.1788
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.1788
-
Ex-Dividend Date
March 29, 2022
-
Record Date
March 30, 2022
-
Payable Date
March 31, 2022
-
Income
$0.087
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.000
-
Return of Capital
$0.000
-
Total
$0.087
-
Ex-Dividend Date
Dec 28, 2021
-
Record Date
Dec 29, 2021
-
Payable Date
Dec 30, 2021
-
Income
$0.114
-
Short Term Capital Gain
$0.000
-
Long Term Capital Gain
$0.013
-
Return of Capital
$0.000
-
Total
$0.128
-
Ex-Dividend Date
Sept 28, 2021
-
Record Date
Sept 29, 2021
-
Payable Date
Sept 30, 2021
-
Income
$0.058
-
Short Term Capital Gain
0.000
-
Long Term Capital Gain
0.000
-
Return of Capital
0.000
-
Total
$0.058
-
Ex-Dividend Date
June 28, 2021
-
Record Date
June 29, 2021
-
Payable Date
June 30, 2021
-
Income
$0.062
-
Short Term Capital Gain
0.000
-
Long Term Capital Gain
0.000
-
Return of Capital
0.000
-
Total
$0.062
-
Ex-Dividend Date
March 29, 2021
-
Record Date
March 30, 2021
-
Payable Date
March 31, 2021
-
Income
$0.037
-
Short Term Capital Gain
0.000
-
Long Term Capital Gain
0.000
-
Return of Capital
0.000
-
Total
$0.037
Latest Distribution History
-
Ex-Dividend
DateRecord Date
Payable Date
Income
Short Term
Capital GainLong Term
Capital GainReturn of
CapitalTotal
-
September 27, 2023
September 29, 2023
September 29, 2023
$0.14963458
$0.000
$0.000
$0.000
$0.14963458
-
June 28, 2023
June 30, 2023
June 30, 2023
$0.15777420
$0.000
$0.000
$0.000
$0.15777420
-
March 29, 2023
March 30, 2023
March 30, 2023
$0.08044201
$0.000
$0.000
$0.000
$0.08044201
-
December 28, 2022
December 29, 2022
December 30, 2022
$0.08365290
$0.000
$0.000
$0.000
$0.08365290
-
Sept 28, 2022
Sept 29, 2022
Sept 30, 2022
$0.17040667
$0.000
$0.000
$0.000
$0.17040667
-
June 28, 2022
June 29, 2022
June 30, 2022
$0.1788
$0.000
$0.000
$0.000
$0.1788
-
March 29, 2022
March 30, 2022
March 31, 2022
$0.087
$0.000
$0.000
$0.000
$0.087
-
Dec 28, 2021
Dec 29, 2021
Dec 30, 2021
$0.114
$0.000
$0.013
$0.000
$0.128
-
Sept 28, 2021
Sept 29, 2021
Sept 30, 2021
$0.058
0.000
0.000
0.000
$0.058
-
June 28, 2021
June 29, 2021
June 30, 2021
$0.062
0.000
0.000
0.000
$0.062
-
March 29, 2021
March 30, 2021
March 31, 2021
$0.037
0.000
0.000
0.000
$0.037
PERFORMANCE RISK DISCLOSURES
Inception Date: 1/11/2021. Expense Ratio: 0.85%.
Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For performance current to most recent month end please call 646-495-7333.
Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.
Short term performance, in particular is not a good indication of future performance and an investment should not be made based solely on returns.
Resources
-
Q3 2023 INFL Distribution
View PDF -
INFL Semi-Annual Report June 30 2023 (Unaudited)
View PDF -
INFL 2023 Semi-Annual Letter
View PDF -
Q2 2023 INFL Distribution
View PDF -
INFL 3/31/23 Quarterly Schedule of Portfolio Holdings
View PDF -
INFL Prospectus
View PDF -
INFL Summary Prospectus
View PDF -
INFL Statement of Additional Information
View PDF -
Q1 2023 INFL Distribution
View PDF -
2022 Annual Report
View PDF -
2022 INFL Distribution
View PDF -
INFL 2022 Annual Letter
View PDF -
INFL Overview Presentation
View PDF -
INFL Factsheet
View PDF -
INFL Fundamentals
View PDF -
9/30/22 Quarterly Schedule of Portfolio Holdings
View PDF -
Q3 2022 INFL Distribution
View PDF -
INFL Semi-Annual Report June 30 2022 (Unaudited)
View PDF -
INFL 2022 Semi-Annual Letter
View PDF -
INFL 2021 Annual Letter
View PDF -
INFL Q&A
View PDF -
Press Release on the launch of INFL
View PDF
-
Q3 2023 INFL Distribution
View PDF -
INFL Semi-Annual Report June 30 2023 (Unaudited)
View PDF -
INFL 2023 Semi-Annual Letter
View PDF -
Q2 2023 INFL Distribution
View PDF -
INFL 3/31/23 Quarterly Schedule of Portfolio Holdings
View PDF -
INFL Prospectus
View PDF -
INFL Summary Prospectus
View PDF -
INFL Statement of Additional Information
View PDF -
Q1 2023 INFL Distribution
View PDF -
2022 Annual Report
View PDF -
2022 INFL Distribution
View PDF -
INFL 2022 Annual Letter
View PDF -
INFL Overview Presentation
View PDF -
INFL Factsheet
View PDF -
INFL Fundamentals
View PDF -
9/30/22 Quarterly Schedule of Portfolio Holdings
View PDF -
Q3 2022 INFL Distribution
View PDF -
INFL Semi-Annual Report June 30 2022 (Unaudited)
View PDF -
INFL 2022 Semi-Annual Letter
View PDF -
INFL 2021 Annual Letter
View PDF -
INFL Q&A
View PDF -
Press Release on the launch of INFL
View PDF
Press
-
Value Investor Insight - Fertile Ground? (July 2023)
View PDF -
Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
Watch -
James Davolos on Real Vision Daily Briefing - Should We Still Ride The Inflation Winners? (Aired on 3/9/2023)
Watch -
James Davolos on Swan Signal “Bitcoin, Inflation, and Hard Assets” (Aired on Feb 22, 2023)
Watch -
INFL Annual Letter and Webinar Replay with James Davolos (Event Date: 2/15/23)
View PDF -
James Davolos on On the Margin Podcast "All Eyes on Inflation, A Pause Is Not A Pivot" (Jan 2023)
Watch -
James Davolos on ETF Rundown with Vince Molinari (December 2022)
Watch -
James Davolos on TD Ameritrade Network - Horizon Kinetics Inflation Beneficiaries ETF (INFL): Stocks That Do Well During Inflation (Recorded on 12/15/2022)
Watch -
Murray Stahl on Grant’s Interest Rate Observer: Inflation’s got legs (Originally Published 8/5/2022)
View PDF -
Value Investor Insight - Right Place, Right Time
View PDF -
INFL in Grant’s Interest Rate Observer: Inflation Repellent Review (Originally Published 1/21/2022)
View PDF -
Horizon Kinetics Inflation Beneficiaries ETF (INFL) Webinar Replay (Event Date: 2/2/2022)
Watch -
Horizon Kinetics Closing Bell January 7, 2022
Watch -
Diamonds Are An Investor's Best Friend: Contrarian Investing Ideas (Recorded on 11/2/2021)
Watch -
How to Potentially Benefit from Rising Inflation through Equities – CFRA Research
Watch -
ETF.com features INFL with discussion by Portfolio Manager James Davolos By Todd Rosenbluth
Read More -
James Davolos, co-portfolio manager for INFL, appeared on CNBC to discuss his outlooks for inflation (originally aired on July 19, 2021)
Watch -
James Davolos discusses INFL, businesses that (we believe) will profit from inflation, and how this time is different (than 2007/8 GFC) @ETFPrime
Listen -
James Davolos Interview on ETF Strategies to Hedge Against Inflation (Originally published @ZacksResearch - ETF Spotlight Podcast on March 11, 2021)
Listen -
James Davolos On Protecting Yourself Against A Paradigm Shift In Inflation (Originally Published on The Felder Report dated February 24, 2021)
Listen -
Barron's Article: Inflation Is Looming. A Pair of New ETFs May Offer Protection.
Read More -
Value Investor Insight - Trading Up
View PDF
-
Value Investor Insight - Fertile Ground? (July 2023)
View PDF -
Horizon Kinetics Active ETF Webinar (Event Date: 5/17/2023)
Watch -
James Davolos on Real Vision Daily Briefing - Should We Still Ride The Inflation Winners? (Aired on 3/9/2023)
Watch -
James Davolos on Swan Signal “Bitcoin, Inflation, and Hard Assets” (Aired on Feb 22, 2023)
Watch -
INFL Annual Letter and Webinar Replay with James Davolos (Event Date: 2/15/23)
View PDF -
James Davolos on On the Margin Podcast "All Eyes on Inflation, A Pause Is Not A Pivot" (Jan 2023)
Watch -
James Davolos on ETF Rundown with Vince Molinari (December 2022)
Watch -
James Davolos on TD Ameritrade Network - Horizon Kinetics Inflation Beneficiaries ETF (INFL): Stocks That Do Well During Inflation (Recorded on 12/15/2022)
Watch -
Murray Stahl on Grant’s Interest Rate Observer: Inflation’s got legs (Originally Published 8/5/2022)
View PDF -
Value Investor Insight - Right Place, Right Time
View PDF -
INFL in Grant’s Interest Rate Observer: Inflation Repellent Review (Originally Published 1/21/2022)
View PDF -
Horizon Kinetics Inflation Beneficiaries ETF (INFL) Webinar Replay (Event Date: 2/2/2022)
Watch -
Horizon Kinetics Closing Bell January 7, 2022
Watch -
Diamonds Are An Investor's Best Friend: Contrarian Investing Ideas (Recorded on 11/2/2021)
Watch -
How to Potentially Benefit from Rising Inflation through Equities – CFRA Research
Watch -
ETF.com features INFL with discussion by Portfolio Manager James Davolos By Todd Rosenbluth
Read More -
James Davolos, co-portfolio manager for INFL, appeared on CNBC to discuss his outlooks for inflation (originally aired on July 19, 2021)
Watch -
James Davolos discusses INFL, businesses that (we believe) will profit from inflation, and how this time is different (than 2007/8 GFC) @ETFPrime
Listen -
James Davolos Interview on ETF Strategies to Hedge Against Inflation (Originally published @ZacksResearch - ETF Spotlight Podcast on March 11, 2021)
Listen -
James Davolos On Protecting Yourself Against A Paradigm Shift In Inflation (Originally Published on The Felder Report dated February 24, 2021)
Listen -
Barron's Article: Inflation Is Looming. A Pair of New ETFs May Offer Protection.
Read More -
Value Investor Insight - Trading Up
View PDF
RESOURCES RISK DISCLOSURES
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For performance current to most recent month end please call 646-495-7333.
IMPORTANT RISK DISCLOSURES
Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory prospectus and summary prospectus by contacting 646-495-7333. Read it carefully before investing.
The Horizon Kinetics Inflation Beneficiaries ETF (Symbol: INFL) is an exchange traded fund managed by Horizon Kinetics Asset Management LLC (“HKAM”).
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund’s investments in securities linked to real assets involve significant risks, including financial, operating, and competitive risks. Investments in securities linked to real assets expose the Fund to potentially adverse macroeconomic conditions, such as a rise in interest rates or a downturn in the economy in which the asset is located.
The Fund is non‐diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.
Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.
The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.
The Fund may invest in the securities of smaller and mid‐capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The fund is actively managed and may be affected by the investment adviser’s security selections.
Diversification does not assure a profit or protect against a loss in a declining market.
HKAM does not provide tax or legal advice, all investors are encouraged to consult their tax and legal advisors regarding an investment in the Fund. You may obtain additional information about HKAM at our website at www.horizonkinetics.com.
No part of this material may be copied, photocopied, or duplicated in any form, by any means, or redistributed without the express written consent of HKAM.
The Horizon Kinetics Inflation Beneficiaries ETF (INFL) is distributed by Foreside Fund Services, LLC (“Foreside”). Foreside is not affiliated with INFL or Horizon Kinetics LLC or its subsidiaries.
Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
CPI: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Dividend yield: Dividend yield equals the annual dividend per share divided by the stock’s price per share.
Stagflation: Persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.
Duration: Bond duration is a measure of how much bond prices are likely to change if and when interest rates move.
Bloomberg Barclays US Aggregate Bond Index: The Bloomberg Barclays US Aggregate Bond Index is a broad-based benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency). An investor cannot invest directly in an index.
Basis points: Basis points are a common unit of measure for percentages in finance. One basis point is equal to 1/100th of 1%.
Yield to worst: The yield to worst is the minimum yield that can be received on a bond, assuming the issuer doesn’t default.
S&P 500 Index: The S&P 500® Index represents an unmanaged, broad-based basket of stocks. It is typically used as a proxy for overall market performance.
Beta: The beta of a security is a measurement of its volatility of returns relative to the entire market. It is used as a measure of risk.
EV/EBITDA: also known as the Enterprise multiple, is a ratio used to determine the value of a company. is enterprise value divided by earnings before interest, taxes, depreciation, and amortization (EBITDA), looks at a company the way a potential acquirer would by considering the company’s debt.
Free cash flow: Free cash flow is the money that the company has available to repay its creditors or pay dividends and interest to investors.
TTM P/E: The P/E ratio stands for Share Price divided by Earnings Per Share (EPS). The (ttm) reference stands for Trailing Twelve Months, which means the last 12 months of EPS are used in the calculation.
Forward P/E: Forward P/E is a version of the ratio of price-to-earnings that uses forecasted earnings for the P/E calculation.