INFL vs. FYLD

Last updated Aug 4, 2026

INFL (Horizon Kinetics Inflation Beneficiaries ETF) and FYLD (Cambria Foreign Shareholder Yield ETF) are both Global Equities funds. Both are actively managed. Over the past 5 years, INFL returned 13.02%/yr vs 12.70%/yr for FYLD. Their 0.72 correlation means they have sometimes moved together and sometimes differently. INFL charges 0.85%/yr vs 0.59%/yr for FYLD.

Performance

INFL vs. FYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Inflation Beneficiaries ETF (INFL) and Cambria Foreign Shareholder Yield ETF (FYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INFL achieves a 15.98% return, which is significantly lower than FYLD's 21.79% return.

INFL

• 1D: 0.10%
• 1M: 3.15%
• 6M: 6.21%
• YTD: 15.98%
• 1Y: 25.96%
• 3Y*: 18.77%
• 5Y*: 13.02%
• 10Y*: —
• ALL TIME*: 15.35%

FYLD

• 1D: -0.56%
• 1M: 5.85%
• 6M: 11.81%
• YTD: 21.79%
• 1Y: 37.25%
• 3Y*: 21.87%
• 5Y*: 12.70%
• 10Y*: 11.59%
• ALL TIME*: 8.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FYLD Cambria Foreign Shareholder Yield ETF	$1.76M	$1.82M	$3.05M
INFL Horizon Kinetics Inflation Beneficiaries ETF	$4.89M	$4.96M	$13.18M

INFL vs. FYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
INFL Horizon Kinetics Inflation Beneficiaries ETF	15.98%	18.30%	23.34%	1.62%	2.65%	25.22%
FYLD Cambria Foreign Shareholder Yield ETF	21.79%	34.53%	3.00%	13.18%	-5.53%	14.20%

Correlation

The correlation between INFL and FYLD is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (All Time) Calculated using the full available price history since Jan 12, 2021	0.72

The correlation between INFL and FYLD shifts across timeframes, from 0.55 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

INFL vs. FYLD - Sectors Allocation Comparison

Sectors	INFL	FYLD
Energy	43.4%	25.1%
Financial Services	20.6%	22.2%
Basic Materials	19.1%	7.6%
Utilities	3.0%	3.9%
Consumer Defensive	1.9%	7.5%
Industrials	1.8%	13.7%
Healthcare	1.3%	-
Real Estate	1.2%	-
Communication Services	0.3%	4.9%
Consumer Cyclical	-	11.4%
Technology	-	2.7%

Return for Risk

INFL vs. FYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INFL

INFL Risk / Return Rank: 59
INFL Sharpe Ratio Rank: 67
INFL Sortino Ratio Rank: 59
INFL Omega Ratio Rank: 62
INFL Calmar Ratio Rank: 58
INFL Martin Ratio Rank: 48

FYLD

FYLD Risk / Return Rank: 95
FYLD Sharpe Ratio Rank: 96
FYLD Sortino Ratio Rank: 95
FYLD Omega Ratio Rank: 95
FYLD Calmar Ratio Rank: 96
FYLD Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INFL vs. FYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Inflation Beneficiaries ETF (INFL) and Cambria Foreign Shareholder Yield ETF (FYLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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	FYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.10	-1.50
Sortino ratio: Return per unit of downside risk	2.08	4.25	-2.17
Omega ratio: Gain probability vs. loss probability	1.28	1.55	-0.27
Calmar ratio: Return relative to maximum drawdown	2.14	6.60	-4.46
Martin ratio: Return relative to average drawdown	5.70	20.10	-14.40

INFL vs. FYLD - Sharpe Ratio Comparison

The current INFL Sharpe Ratio is 1.59, which is lower than the FYLD Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of INFL and FYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INFL vs. FYLD - Drawdown Comparison

The maximum INFL drawdown since its inception was -21.30%, smaller than the maximum FYLD drawdown of -44.55%. Use the drawdown chart below to compare losses from any high point for INFL and FYLD.

Drawdown Indicators

	INFL	FYLD	Difference
Max Drawdown Largest peak-to-trough decline	-21.30%	-44.55%	+23.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-5.67%	-6.53%
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	-15.15%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	-25.12%	+3.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.55%	—
Current Drawdown Current decline from peak	-6.50%	-0.66%	-5.84%
Average Drawdown Average peak-to-trough decline	-5.20%	-8.74%	+3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	1.86%	+2.70%

Volatility

INFL vs. FYLD - Volatility Comparison

Horizon Kinetics Inflation Beneficiaries ETF (INFL) and Cambria Foreign Shareholder Yield ETF (FYLD) have volatilities of 2.86% and 2.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INFL	FYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.93%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.01%	9.37%	+2.64%
Volatility (1Y) Calculated over the trailing 1-year period	16.38%	12.10%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.17%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	17.75%	-0.16%

INFL vs. FYLD - Expense Ratio Comparison

INFL has a 0.85% expense ratio, which is higher than FYLD's 0.59% expense ratio.

Dividends

INFL vs. FYLD - Dividend Comparison

INFL's dividend yield for the trailing twelve months is around 0.80%, less than FYLD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYLD Cambria Foreign Shareholder Yield ETF	3.31%	4.07%	5.41%	6.06%	6.13%	4.74%	3.94%	3.73%	5.17%	2.85%	2.72%	3.98%
INFL Horizon Kinetics Inflation Beneficiaries ETF	0.80%	1.26%	1.77%	1.60%	1.65%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INFL and FYLD in my portfolio?

INFL and FYLD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INFL or FYLD?

FYLD has higher volatility (2.93%) compared to INFL (2.86%). In terms of maximum drawdown, INFL dropped -21.30% vs FYLD's -44.55%.

Which ETF is better, INFL or FYLD?

On 5-year performance, INFL leads with 13.02% vs 12.70% for FYLD. On fees, FYLD is cheaper at 0.59% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INFL or FYLD?

Over the 5-year period, INFL has performed better with a 13.02% return vs 12.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INFL or FYLD?

FYLD is cheaper with a 0.59% expense ratio, compared with 0.85% for INFL.

Which ETF pays a higher dividend yield, INFL or FYLD?

FYLD has the higher dividend yield at 3.31%, compared with 0.80% for INFL.

What is the main difference between INFL and FYLD?

They also come from different issuers: Horizon Kinetics and Cambria. Their fees differ too: 0.85% for INFL and 0.59% for FYLD.

Which has better risk-adjusted returns?

FYLD currently has the higher Sharpe Ratio (3.10 vs 1.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.