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NVIR

GradeDNew York Stock Exchange Arca

Horizon Kinetics Energy Remediation ETF

Sectors · Horizon Kinetics · Inception 2023-02-21

$39.02+0.17 (+0.44%)

As of Sep 23, 2026, 1:43 PM EDT

History starts Feb 22, 2023.
Intraday session: up, 3 prints from 38.85 to 39.02. Range 38.85 to 39.02. Use the arrow keys to read each point.$38.85$38.90$38.9510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$5M
1Y return
+25.2%
Yield · Last 12 months
0.77%
Holdings
43
Volume · 30D
0M sh
NAV per share
$39.13
52W range
low $31.26high $41.31

The ETF.net NVIR Grade

D

27/ 100

Rank 23 of 25 in Energy (Broad)⁠

Confidence Medium

Six-pillar profile for NVIR. Scores out of 100: Cost 8, Risk 52, Mission not scored, Tradability 10, Holdings 78, Durability 16. Strongest: Holdings (78). Weakest: Cost (8). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 27 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 8
    Category rank22/25 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank11/23 · top 48%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 10
    Category rank24/25 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 78
    Category rank4/25 · top 16%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 16
    Category rank24/25 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NVIR

ETF.net Research

DMost energy ETFs buy the oil patch by index weight. NVIR is Horizon Kinetics hand-picking roughly 40 companies across the US, Canada and Australia that it expects to benefit as attention turns to cleaner carbon-based energy production.

Stated mandate

The Fund seeks long-term capital growth. It is actively managed and invests primarily in companies expected to benefit from increasing attention to climate and environmentally sensitive carbon-based energy production.

Why people hold it

  1. 01Actively managed with a value-driven, bottom-up process. Nobody is tracking a benchmark here; the portfolio is a stock-by-stock set of picks, roughly 40 names deep.
  2. 02A slice of energy that broad sector funds blend away: companies positioned to gain as climate and environmental pressure reshapes how carbon-based energy gets produced.
  3. 03The mandate reaches past the US into Canada and Australia, two resource-heavy markets, rather than fishing only in the domestic energy pond.

Worth knowing

  1. 01You pay 0.85% for the stock-picking. Index-tracking energy peers run far cheaper, with XES at 0.35% and MLPX at 0.45%.
  2. 02Small fund, light trading. Spreads can be wider than on the big sector ETFs, so the price you get depends on how you place the order.
  3. 03Launched in 2023, with roughly 40 holdings and distributions once or twice a year. Short track record, concentrated portfolio, no monthly income rhythm.

NVIR Holdings

As of Sep 20, 2026, 9:12 AM
Asset class
Stocks
Holdings
43
Top-10 weight
48%
Largest holding
CEU.TO6.8%

Geography

  • United States76.78%
  • Canada22.15%
  • United Kingdom1.07%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001CEU.TOCES Energy Solutions Corp6.78%24,705$335K42
002PBTPermian Basin Royalty Trust5.55%7,760$274K5
003WMBWilliams Cos Inc/The5.33%3,655$263K361
004TPLTexas Pacific Land Corp4.93%690$243K249
005SUSuncor Energy Inc4.87%3,465$241K43
006WBIWaterBridge Infrastructure LLC4.69%7,500$231K19
007LNGCheniere Energy Inc4.26%785$211K270
008EFXTEnerflex Ltd3.83%8,325$189K10
009EQTEQT Corp3.75%3,705$185K320
010PSK.TOPrairieSky Royalty Ltd3.59%6,955$177K34
011WTTRSelect Water Solutions Inc3.51%8,334$173K100
012FANGDiamondback Energy Inc3.31%850$164K352
013XOMExxonMobil Holdings Corp3.21%969$158K501
014COPConocoPhillips2.94%1,100$145K425
015EOGEOG Resources Inc2.83%970$140K397

Showing 1–15 of 41 holdings

NVIR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NVIR$12,517
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. NVIR $12,517. SPY $11,723. Use the arrow keys to read each point.$9,236$11,375$13,513Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for NVIR. Periods over one year show the average yearly return.
PeriodNVIR
Year to date+19.1%
1 month−4.0%
3 months+2.4%
1 year+25.2%
3 years+14.4%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NVIR
YearReturn barNVIR
2026 YTD+19.1%
2025+9.9%
2024+17.5%
2023+6.9%

History from Feb 22, 2023

NVIR in the news

ETF.net Research hasn’t filed on NVIR yet — coverage lands here as it’s written.

NVIR Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.77%Last 12 months
Payout per share
$0.30Last 12 months
Last payment
$0.30 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 27, 2023 $0.35; Dec 24, 2024 $0.45; Dec 23, 2025 $0.30. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 24, 2025$0.30
Dec 24, 2024Dec 26, 2024$0.45
Dec 27, 2023Dec 29, 2023$0.35

NVIR Risk

How much the fund’s monthly returns vary, scaled to a year.
14.1%
Annualised · 36 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.75
vs 3-month T-bills · to Aug 2026
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.

The largest fall from a peak to the low that followed.
−22.5%
43 months · trough Apr 2025
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.

How strongly the fund’s returns move with its asset-class index.
0.31
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NVIR Cost

Expense ratio0.85%
  • The middle half of Energy (Broad) funds
  • Median 0.46%

20 of the 24 Energy (Broad) funds charge less.

NVIR costs $85.00 a year on $10,000. The median Energy (Broad) fund costs $45.50.