Skip to content
etf.net

Launched · SEC filings

Horizon Kinetics Texas ETF

TEXXNasdaqHorizon KineticsD

$29.51−0.70 (−2.33%)

At close: Nov 2, 2026, 4:00 PM ET

D33/ 100

Rank 102 of 126 in US Active Equity

D33/100Rank 102 of 126inUS Active Equity
Intraday session: down, 79 prints from 30.22 to 29.51. Range 29.51 to 30.07. Use the arrow keys to read each point.29.6029.8030.0010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$3M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
36
Avg volume · 30D
742 sh
52W range
low $25.35high $31.13
Launched
Filings
SEC EDGAR

The ETF.net TEXX Grade

Based on 5 of 6 pillars

D

Score 33 out of 100

Category
US Active Equity⁠
Rank
102 of 126
Six-pillar profile for TEXX. Scores out of 100: Cost 28, Risk 68, Mission not scored, Tradability 4, Holdings 43, Durability 34. Strongest: Risk (68). Weakest: Tradability (4). Based on 5 of 6 pillars.

Score 33 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
34
This cap took
0
Published Score
33 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D28 out of 100
    Rank 89 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B68 out of 100
    Rank 24 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F4 out of 100
    Rank 126 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C43 out of 100
    Rank 88 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D34 out of 100
    Rank 109 of 126

Our read on TEXX

ETF.net Research

In short

DTexas, hand-picked. Horizon Kinetics runs its state fund actively and non-diversified, leaning on its own value and real-asset research across oil, gas and land instead of screening for a headquarters address.

Stated mandate

The Fund seeks long-term growth of capital.

Why people hold it

  • Stock-picked, not screened: at least 80% of net assets go to Texas companies chosen by Horizon Kinetics, with position sizes set by conviction rather than index weights.horizonkinetics.comyahoo.com
  • A house style you can read in advance: the seventh active ETF Horizon Kinetics has launched since 2021, from a shop that describes its process as long-term, fundamentals-based and value-oriented.yahoo.com
  • The portfolio's center of gravity is oil and gas exploration and production, so it tracks the Permian engine more closely than a broad slice of the Texas economy.

Worth knowing

  • Costs 0.85% a year against a 0.65% median for active US equity ETFs in its peer group. The stock picking carries that gap.
  • Non-diversified and single-state, with an energy lean, so moves can run sharper in both directions than a broad US equity fund.yahoo.comusnews.com
  • Launched in 2026: short track record, small asset base, light trading that can widen bid-ask spreads, and a growth-of-capital mandate rather than an income one.

TEXX Performance

Launched Jan 21, 2026

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.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
TEXX$9,950
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. TEXX $9,950. SPY $10,093. Use the arrow keys to read each point.$9,500$10,000$10,500Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 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 TEXX. Periods over one year show the average yearly return.
PeriodTEXX
Year to dateFund launched this yearNo data
1 month+2.6%
3 months−0.5%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 TEXX
YearReturn barTEXX
2026 YTD+15.6%

History from Jan 22, 2026

TEXX in the news

TEXX 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 Nov 2, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Jan 2026. No distributions yet.

TEXX Risk

Risk pillarB68 out of 100Rank 24 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
−0.03
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.

FMP measures it over up to five years of monthly returns.

TEXX Cost

Compare TEXX and TACU

Overpaying vs TACU, cheapest in US Active Equity

$16,199

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TEXX 0.85%

    $16,199

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • TEXX 0.85%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TEXX $16,199TACU $0

Year by year

YearTEXXTACUOverpaying
10$1,508$0$1,508
20$5,706$0$5,706
30$16,199$0$16,199

Other funds in US Active Equity

See others