- ISIN
- US53656F6236
- CUSIP
- 53656F623
- Issuer
- Horizon Kinetics LLC
- Inception Date
- Jan 11, 2021
- Region
- Global ex-U.S. (Broad)
- Category
- Global Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $2B
Share Price Chart
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Performance
INFL Performance Chart
Horizon Kinetics Inflation Beneficiaries ETF (INFL) is up 15.5% since the beginning of the year. INFL is currently trading at $51 per share. Investors who bought $1,000 worth of INFL shares 5 years ago would now be looking at an investment worth $1,861.
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Returns By Period
Horizon Kinetics Inflation Beneficiaries ETF (INFL) has returned 15.45% so far this year and 21.30% over the past 12 months.
Horizon Kinetics Inflation Beneficiaries ETF
- 1D
- -0.14%
- 1M
- -2.83%
- YTD
- 15.45%
- 6M
- 17.48%
- 1Y
- 21.30%
- 3Y*
- 20.25%
- 5Y*
- 13.23%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
INFL Monthly Returns History
Based on dividend-adjusted daily data since Jan 12, 2021, INFL's average daily return is +0.06%, while the average monthly return is +1.32%. At this rate, an investment would double in approximately 4.4 years.
Historically, 65% of months were positive and 35% were negative. The best month was Feb 2026 with a return of +11.3%, while the worst month was Jun 2022 at -10.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, INFL closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +7.1%, while the worst single day was Apr 4, 2025 at -7.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.08% | 11.34% | -4.31% | 2.27% | -2.24% | -1.54% | 15.45% | ||||||
| 2025 | 2.65% | 3.26% | 1.12% | 0.89% | 1.88% | 1.39% | -1.97% | 4.48% | 3.72% | -2.73% | 1.55% | 0.93% | 18.30% |
| 2024 | -4.29% | 2.03% | 6.48% | -2.06% | 4.39% | -1.42% | 10.80% | 2.07% | 2.15% | 5.69% | 7.37% | -10.24% | 23.34% |
| 2023 | 3.78% | -6.67% | 1.42% | 0.26% | -4.95% | 4.56% | 5.30% | -1.71% | -3.32% | -2.33% | 4.10% | 2.05% | 1.62% |
| 2022 | -2.31% | 3.80% | 5.52% | -4.62% | 1.35% | -10.82% | 8.86% | -2.54% | -7.51% | 9.56% | 8.33% | -4.44% | 2.65% |
| 2021 | -3.64% | 5.84% | 5.79% | 7.34% | 2.61% | 0.84% | 0.63% | 0.10% | -3.35% | 7.57% | -5.00% | 5.02% | 25.22% |
Benchmark Metrics
Horizon Kinetics Inflation Beneficiaries ETF has an annualized alpha of 6.04%, beta of 0.73, and R2 of 0.48 versus S&P 500 Index. Calculated based on daily prices since January 12, 2021.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (80.31%) than losses (64.33%) - typical of diversified or defensive assets.
- R2 of 0.48 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 6.04%
- Beta
- 0.73
- R²
- 0.48
- Upside Capture
- 80.31%
- Downside Capture
- 64.33%
Expense Ratio
INFL has an expense ratio of 0.85%, placing it in the medium range.
Return for Risk
Risk / Return Rank
INFL ranks 39 for risk / return — below 39% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Horizon Kinetics Inflation Beneficiaries ETF (INFL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| INFL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.36 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.71 | -0.51 |
| Martin ratioReturn relative to average drawdown | 6.37 | 12.15 | -5.78 |
Dividends
Dividend History
Horizon Kinetics Inflation Beneficiaries ETF provided a 0.92% dividend yield over the last twelve months, with an annual payout of $0.47 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.47 | $0.56 | $0.68 | $0.50 | $0.52 | $0.28 |
Dividend yield | 0.92% | 1.26% | 1.77% | 1.60% | 1.65% | 0.91% |
Monthly Dividends
The table displays the monthly dividend distributions for Horizon Kinetics Inflation Beneficiaries ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.08 | ||||||
| 2025 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.10 | $0.56 |
| 2024 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.21 | $0.68 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.11 | $0.50 |
| 2022 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.08 | $0.52 |
| 2021 | $0.04 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.13 | $0.28 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Horizon Kinetics Inflation Beneficiaries ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Horizon Kinetics Inflation Beneficiaries ETF was 21.30%, occurring on Sep 26, 2022. Recovery took 443 trading sessions.
The current Horizon Kinetics Inflation Beneficiaries ETF drawdown is 6.93%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -21.30%Sep 2022 | 5mo 8d | 1y 9mo | 2y 2moApr 2022 - Jul 2024 |
2025 selloff2025 | -15.56%Apr 2025 | 4mo 14d | 1mo 12d | 5mo 26dNov 2024 - May 2025 |
2026 pullback2026 | -9.76%Jun 2026 | 3mo 9d | — | 3mo 16dMar 2026 - now |
2021 pullback2021 | -8.15%Dec 2021 | 21d | 3mo 1d | 3mo 22dNov 2021 - Mar 2022 |
2025 pullback2025 | -7.17%Nov 2025 | 8d | 1mo 19d | 1mo 27dNov 2025 - Jan 2026 |
Drawdown Indicators
| INFL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.30% | -56.78% | +35.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.76% | -9.10% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -18.90% | +3.34% |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | -25.43% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -6.93% | -1.29% | -5.64% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -10.72% | +5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 2.02% | +1.34% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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