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 CO LLC | 5.5 % |
| PRAIRIESKY ROYALTY LTD | 5.1 % |
| TEXAS PACIFIC LAND CORPORATION | 5.0 % |
| VIPER ENERGY PARTNERS LP | 5.0 % |
| SILVER WHEATON CORP | 4.9 % |
| WATERBRIDGE INFRASTRUCTURE LLC | 4.8 % |
| FRANCO-NEVADA CORP | 4.7 % |
| CAMECO CORP | 4.5 % |
| CASH & OTHER | 4.3 % |
| OSISKO GOLD ROYALTIES LTD | 3.7 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 336 |
| Wgt avg mkt cap (mns) | $21,114 |
| Large cap (>$10bn) | 39.1% |
| Mid cap ($2-10bn) | 33.4% |
| Small cap (<$2bn) | 8.2% |
| Developed mkts. | 84.2% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 36.9 % |
 |
CANADA | 32.8 % |
 |
SINGAPORE | 4.0 % |
 |
AUSTRALIA | 2.8 % |
 |
GERMANY | 2.7 % |
 |
SWITZERLAND | 2.1 % |
 |
JAPAN | 1.4 % |
 |
BRITAIN | 0.9 % |
Historical Performance
Standardized Performance (as of 04/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 19.7% | 29.8% | 29.2% | 19.9% | 12.8% | -- | -- | 15.1% |
| Dividend Yield | 0.2% | 1.4% | 1.9% | 1.9% | 1.7% | -- | -- | 1.7% |
| Total Returns | 19.9% | 31.2% | 31.1% | 21.8% | 14.6% | -- | -- | 16.8% | Ann. Volatility | 19.4% | 15.7% | 18.0% | 16.5% | 17.7% | -- | -- | 17.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.54 | 19% |
| MSCI EAFE | 0.56 | 27% |
| MSCI Emg Mkts | 0.42 | 24% |
Liquidity Measures
| Avg. volume (000) | 233 |
| ADV traded (mns) | $12 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.14% |
Technical Indicators
| 30d moving avg. (EMA) | $52.68 |
| Relative strength (RSI) | 54 |
| MACD/Signal | 0.21/0.29 |
| Bollinger Bands (Upper/Lower) | $53.79/$52.24 |
| Short interest (% of AUM) | 0.6% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. INFL |
Expenses vs. INFL |
ALTAR Score™ vs. INFL |
|---|---|---|---|---|
| BCDF | Horizon Kinetics Blockchain Development ETF | 23.3% | 0 bp | +1.0% |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 14.5% | 0 bp | +2.6% |
| GOAU | U.S. Global GO GOLD and Precious Metal Miners ETF | 10.6% | -25 bp | -0.1% |
| SILJ | ETFMG Prime Junior Silver Miners ETF | 10.3% | -16 bp | -1.9% |
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 5/8/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
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
3.1%
ALTAR SCORE™
14th
PERCENTILE
AVOID
ETFRC RATING
There are 1,206 funds in the US Equity category with an average
ALTAR Score™ of 5.4% 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
$59.44
PRICE TARGET
+13.6%
UPSIDE