DYNF vs TEXX

DYNFAiShares U.S. Equity Factor Rotation Active ETF

TEXXDHorizon Kinetics Texas ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

TEXX Texas, 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

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

TEXX The Fund seeks long-term growth of capital.

Why people hold it

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• TEXX 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

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• TEXX 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.

Full DYNF profile⁠

Full TEXX profile⁠