Horizon Kinetics Inflation Beneficiaries ETF
$51.81+0.04 (+0.08%)
- 0.85%
- $1.6B
- +20.7%
- 0.78%
- 0.2M sh
- $51.76
- low $42.22high $56.28
The ETF.net INFL Grade
C
Score 42 out of 100
- 25 of 44
Score 42 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D28 out of 100Rank 31 of 44Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C42 out of 100Rank 29 of 42Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 11 of 44Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D36 out of 100Rank 35 of 44Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 6 of 44
Our read on INFL
CMost equity funds chase an index. INFL chases purchasing power: a hand-picked book of roughly 50 stocks built around one question, what holds up when prices rise. Active since 2021, with no benchmark to hide behind.
The Fund targets long-term capital appreciation after accounting for inflation.
Why people hold it
- The mandate is unusually specific: long-term capital appreciation after accounting for inflation, not simply beating a stock index. That framing drives value-led, bottom-up stock picking.
- About 50 names across US and developed international markets. Concentrated enough that individual picks actually move the portfolio, which is the point of hiring an active manager.
- Trades well for a niche active fund. Liquidity and spreads sit near the top of its global active equity peer group, so getting in and out is rarely the expensive part.
- Launched in 2021 and since grown past the billion-dollar mark, giving it an operating history and a scale most thematic launches never reach. Pays quarterly.
Worth knowing
- At 0.85% a year, it costs more than the typical global active equity fund. Broad index peers like GSWO and DFAW charge a fraction of that.
- No index to grade it against. This is a manager's book of inflation beneficiaries, so the process and the holdings, not tracking error, are what you are judging.
- A concentrated, theme-driven portfolio moves on its own schedule. It can look nothing like the broad market for long stretches, in either direction.
INFL Holdings
- Stocks
- 50
- 49%
- LB
Sectors
- Energy41.3%
- Financials26.3%
- Materials22.4%
- Consumer Staples2.7%
- Industrials2.3%
- Utilities2.1%
- Health Care1.3%
- Real Estate1.3%
- Communication0.4%
Geography
- United States53.46%
- Canada34.42%
- Singapore4.16%
- Germany3.22%
- Switzerland2.13%
- Japan1.96%
- United Kingdom0.52%
- Australia0.13%
INFL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
INFL$12,074
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | INFL |
|---|---|
| Year to date | +17.1% |
| 1 month | −5.3% |
| 3 months | +3.7% |
| 1 year | +20.7% |
| 3 years | +21.3% |
| 5 years | +12.9% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | INFL |
|---|---|---|
| 2026 YTD | +17.1% | |
| 2025 | +18.3% | |
| 2024 | +23.3% | |
| 2023 | +1.6% | |
| 2022 | +2.6% | |
| 2021 | +24.8% |
INFL in the news
INFL Dividends
- 0.78%
- $0.40
- $0.09 per share
- Quarterly
Distribution history
INFL Risk
- 17.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.89
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −21.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.53
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
INFL Cost
0.85%
INFL0.85%
- The middle half of Global Active Equity funds
- Median 0.69%
30 of the 44 Global Active Equity funds charge less.
Other funds in Global Active Equity
- CJSTCAdasina Social Justice All Cap Global ETFExpense ratio 0.89%1 year return +15.5%
- CACTSFIS Tactical Equity ETFExpense ratio 0.69%1 year return —
- CFGSMThe Advisors' Inner Circle Fund II - Frontier Asset Global Small Cap Equity ETFExpense ratio 0.82%1 year return +22.0%
- DTOGATremblant Global ETFExpense ratio 0.69%1 year return −10.3%
- DAGQIFirst Trust Active Global Quality Income ETFExpense ratio 0.85%1 year return +17.1%