The Horizon Kinetics Full-Cycle Inflation Equity UCITS ETF is an actively managed UCITS 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: 04/24/2025

Ticker

INFBN NA

CUSIP

BN6QZP2

ISIN

IE000Z7ELYY2

Fund Type

Active Equity ETF

Exchange

EAM/XDUB

Inception Date

3/16/2023 (NAV) | 3/23/2023 (Trading)

Expense Ratio

0.85%

Typical Number of Holdings

20 to 60

Net Assets

$31,084,361

Shares Outstanding

900,000

Data as of: 04/25/2025
Daily Holdings
  • % Net Assets

    99.99%

  • Name

    Cash & Other

  • Ticker

    Cash&Other

  • CUSIP

    Cash&Other

  • Shares Held

    31,945,261

  • Market Value

    $31,945,261

Data as of: 04/25/2025
Daily Holdings
  • % Net Assets

    Name

    Ticker

    CUSIP

    Shares Held

    Market Value

  • 99.99%

    Cash & Other

    Cash&Other

    Cash&Other

    31,945,261

    $31,945,261

Data as of: 04/24/2025
  • Net Asset Value

    $34.54

  • NAV Change

    $-0.42

  • Median 30 Day Spread

    .000000%

  • Market Price

    $34.52

  • Market Price Change

    $0.30

  • Premium/Discount

    $-0.02 | -.052600%

Historical Data

Premium/Discount Range (%)

Date

  • Greatest Premium

    5.955400% 04/04/2025

  • Greatest Discount

    -5.828700% 04/09/2025

  • Number of Days At

  • Premium:

    8

  • NAV:

    0

  • Discount:

    8

  • Days Within Percent of NAV

  • Percent of Days +/- 0.5% of NAV:

    56%

  • Number of Days +/- 0.5% of NAV:

    9

Historical NAV

Data as of: 03/31/2025
(** YTD as of 04/24/2025)
  • INFBN

    NAV

  • 1 Month

    1.03%

  • YTD **

    7.53%

  • 1 Year

    24.14%

  • 3 Year

    --

  • 5 Year

    --

  • Since Inception Annualized

    17.01%

  • INFBN

    Market Value

  • 1 Month

    1.69%

  • YTD **

    7.14%

  • 1 Year

    23.48%

  • 3 Year

    --

  • 5 Year

    --

  • Since Inception Annualized

    17.55%

Data as of: 03/31/2025
(** YTD as of 04/24/2025)
  • INFBN

    1 Month

    YTD **

    1 Year

    3 Year

    5 Year

    Since Inception Annualized

  • NAV

    1.03%

    7.53%

    24.14%

    --

    --

    17.01%

  • Market Value

    1.69%

    7.14%

    23.48%

    --

    --

    17.55%

Latest Distribution History
  • Ex-Dividend Date

    Mar 27, 2025

  • Record Date

    Mar 28, 2025

  • Payable Date

    Mar 31, 2025

  • Income

    $0.1295

  • Short Term Capital Gain

    $0.00

  • Long Term Capital Gain

    $0.00

  • Return of Capital

    $0.00

  • Total

    $0.1295

  • Ex-Dividend Date

    Dec 27, 2024

  • Record Date

    Dec 30, 2024

  • Payable Date

    Dec 31, 2024

  • Income

    $0.0631

  • Short Term Capital Gain

    $0.00

  • Long Term Capital Gain

    $0.00

  • Return of Capital

    $0.00

  • Total

    $0.0631

  • Ex-Dividend Date

    Sept 26, 2024

  • Record Date

    Sept 27, 2024

  • Payable Date

    Sept 30, 2024

  • Income

    $0.1013

  • Short Term Capital Gain

    $0.00

  • Long Term Capital Gain

    $0.00

  • Return of Capital

    $0.00

  • Total

    $0.1013

  • Ex-Dividend Date

    Jun 27, 2024

  • Record Date

    Jun 28, 2024

  • Payable Date

    Jul 1, 2024

  • Income

    $0.0769

  • Short Term Capital Gain

    $0.00

  • Long Term Capital Gain

    $0.00

  • Return of Capital

    $0.00

  • Total

    $0.0769

  • Ex-Dividend Date

    Apr 3, 2024

  • Record Date

    Apr 4, 2024

  • Payable Date

    Apr 5, 2024

  • Income

    $0.2167

  • Short Term Capital Gain

    $0.00

  • Long Term Capital Gain

    $0.00

  • Return of Capital

    $0.00

  • Total

    $0.2167

Latest Distribution History
  • Ex-Dividend
    Date

    Record Date

    Payable Date

    Income

    Short Term
    Capital Gain

    Long Term
    Capital Gain

    Return of
    Capital

    Total

  • Mar 27, 2025

    Mar 28, 2025

    Mar 31, 2025

    $0.1295

    $0.00

    $0.00

    $0.00

    $0.1295

  • Dec 27, 2024

    Dec 30, 2024

    Dec 31, 2024

    $0.0631

    $0.00

    $0.00

    $0.00

    $0.0631

  • Sept 26, 2024

    Sept 27, 2024

    Sept 30, 2024

    $0.1013

    $0.00

    $0.00

    $0.00

    $0.1013

  • Jun 27, 2024

    Jun 28, 2024

    Jul 1, 2024

    $0.0769

    $0.00

    $0.00

    $0.00

    $0.0769

  • Apr 3, 2024

    Apr 4, 2024

    Apr 5, 2024

    $0.2167

    $0.00

    $0.00

    $0.00

    $0.2167

Resources

  • Annual Report and Audited Financial Statements as of December 31, 2024
    View PDF
  • INFBN Factsheet
    View PDF
  • INFBN NA Presentation
    View PDF
  • Unaudited Interim Financial Statements as of June 30, 2024
    View PDF
  • Q1 2025 INFBN Distribution
    View PDF
  • Q4 2024 INFBN Distribution
    View PDF
  • Q3 2024 INFBN Distribution
    View PDF
  • Q2 2024 INFBN Distribution
    View PDF
  • Q1 2024 INFBN Distribution
    View PDF
  • Annual Report and Audited Financial Statements as of December 31, 2023
    View PDF
  • Horizon Kinetics ICAV - Fund Name Change Notice
    View PDF
  • INFBN 2023 Mid-Year Letter
    View PDF
  • Unaudited Interim Financial Statements as of June 30, 2023
    View PDF
  • Horizon Kinetics ICAV Supplement
    View PDF
  • Horizon Kinetics ICAV Prospectus
    View PDF
  • Horizon Kinetics ICAV Privacy Notice
    View PDF
  • Key Information Document (English)
    View PDF
  • Key Information Document (Italian)
    View PDF
  • Key Information Document (Dutch)
    View PDF
  • Key Investor Information Document (UK)
    View PDF
  • Sustainable Finance Disclosures Regulation Details
    View PDF
  • Country of Registrations
    View PDF
  • Annual Report and Audited Financial Statements as of December 31, 2024
    View PDF
  • INFBN Factsheet
    View PDF
  • INFBN NA Presentation
    View PDF
  • Unaudited Interim Financial Statements as of June 30, 2024
    View PDF
  • Q1 2025 INFBN Distribution
    View PDF
  • Q4 2024 INFBN Distribution
    View PDF
  • Q3 2024 INFBN Distribution
    View PDF
  • Q2 2024 INFBN Distribution
    View PDF
  • Q1 2024 INFBN Distribution
    View PDF
  • Annual Report and Audited Financial Statements as of December 31, 2023
    View PDF
  • Horizon Kinetics ICAV - Fund Name Change Notice
    View PDF
  • INFBN 2023 Mid-Year Letter
    View PDF
  • Unaudited Interim Financial Statements as of June 30, 2023
    View PDF
  • Horizon Kinetics ICAV Supplement
    View PDF
  • Horizon Kinetics ICAV Prospectus
    View PDF
  • Horizon Kinetics ICAV Privacy Notice
    View PDF
  • Key Information Document (English)
    View PDF
  • Key Information Document (Italian)
    View PDF
  • Key Information Document (Dutch)
    View PDF
  • Key Investor Information Document (UK)
    View PDF
  • Sustainable Finance Disclosures Regulation Details
    View PDF
  • Country of Registrations
    View PDF

Press

  • Horizon Kinetics on Money Tree Investing Podcast – Challenging Conventional Wisdom: Alternative Insights From James Davolos (May 2024)
    Watch
  • Interview with Markets Media (06/07/2023)
    Read
  • Horizon Kinetics Launches Inflation Beneficiaries UCITS ETF (INFBN)
    Read
  • Horizon Kinetics enters Europe race with active inflation ETF (ETF Stream 3/16/23)
    Read
  • Horizon Kinetics on Money Tree Investing Podcast – Challenging Conventional Wisdom: Alternative Insights From James Davolos (May 2024)
    Watch
  • Interview with Markets Media (06/07/2023)
    Read
  • Horizon Kinetics Launches Inflation Beneficiaries UCITS ETF (INFBN)
    Read
  • Horizon Kinetics enters Europe race with active inflation ETF (ETF Stream 3/16/23)
    Read
IMPORTANT RISK DISCLOSURES

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, you may obtain the Fund’s Prospectus by clicking HERE, the Fund’s Prospectus Supplement by clicking HERE, or by contacting 646-495-7333. Read them carefully before investing.

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Since Inception returns are calculated from the first available trading date of 3/23/2023.

The Horizon Kinetics Full-Cycle Inflation Equity Fund UCITS ETF (the “Fund”) is an actively managed UCITS ETF that seeks long-term growth of capital in excess of inflation. 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.

On May 20, 2024, the Fund changed its name from the Horizon Kinetics Inflation Beneficiaries to the Horizon Kinetics Full-Cycle Inflation Equity Fund UCITS ETF.

The Fund’s Ticker is INFBN and is traded on the Euronext Amsterdam Stock Exchange (EAM) and Euronext Dublin Stock Exchange (XDUB).

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.

Sustainable Finance Disclosures Regulation Details: CLICK HERE