Summary
Horizon Kinetics Blockchain Development ETF is an ETF - a fund traded on an exchange like a stock - run by Horizon Kinetics. Positions inside: 36. The ten largest make up 59% of the fund.
- Yearly costs
- 0.85%
- Fund size
- $23.5M
- Positions
- 36
- Dividend yield
- 2.29%
- Running since
- 2022
What speaks for it
- Average yearly growth over the last three years: 17%.
What to watch
- The ten largest positions make up 59% of the fund, so its result rests on a few names.
- 80% of the fund is in one sector (Financials).
- Costs of 0.85% a year are above the middle of comparable funds (0.44%).
- A small fund with $23.5M under management; small funds get closed more often.
- It trades little: only about $35.5K changes hands a day.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- +3.0%
- 3 months
- +6.4%
- This year
- +11%
- 1 year
- +4.8%
- 3 years
- +60%
- Avg. market cap
- $25.7B
- P/E
- 15.2x
- Forward P/E
- 21.3x
- P/S
- 1.6x
- P/B
- 2.7x
- P/FCF
- 18.7x
- EV/EBITDA
- -
- Dividend yield
- 1.06%
- ROIC
- -
- ROE
- 18.3%
- Gross margin
- -
- Operating margin
- 45.4%
- Net margin
- 33.0%
- Payout ratio
- 16.1%
- Net debt/EBITDA
- -
- Beta
- 0.76
Weighted average of the 29 largest companies, which make up 83% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 CBCboe Global Markets, Inc. CBOE 7.8%
- 2 US BANK MMDA - USBGFS 7 06/01/2031 7.8%
- 3 URUrbana Corporation URB-A.TO 6.5%
- 4 Singapore Exchange Ltd 5.6%
- 5 DBDeutsche Börse AG DB1.DE 5.6%
- 6 X.TMX Group Limited X.TO 5.6%
- 7 CACACI CACI 5.3%
- 8 NDNasdaq, Inc. NDAQ 5.0%
- 9 ICIntercontinental Exchange, Inc. ICE 4.9%
- 10 86Japan Exchange Group, Inc. 8697.T 4.6%
Positions in the fund: 36. The ten largest make up 59% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One sector dominatesBy sector
- Financials 80%
- Technology 11%
- Energy 4.2%
- Utilities 2.9%
- Communication services 1.4%
- Other 0.4%
By country
- United States 54%
- Canada 12%
- Japan 5.8%
- Singapore 5.6%
- Other countries 22%
By company size
- Large cap 58%
- Mid cap 27%
- Small cap 5.6%
- Micro cap 9.1%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M. Counted from the companies that make up 83% of the fund.
Largest sector: Financials (80%). Largest country: United States (54%). Largest size group: Large cap (58%).
What does it cost me?
Expensive- A year from $10,000
- $85.00
- Over 20 years
- $3,981
From every $10,000 invested the fund takes $85.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $3,981.
How has it done?
Growing over the long run- A year on average, 3 years
- +17%
- Deepest drop
- -28%
- Yearly volatility
- 15%
Average yearly growth over the last three years: 17%. Deepest drop in these years: 28% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 2.29%
- Payments a year
- 1
- Last payment
- $0.76
Over the last 12 months it paid $0.76 per share, which is 2.29% of today's price. The last payment was $0.76 on Dec 23, 2025.
Is it easy to buy and sell?
It trades little- Traded a day
- $35.5K
- Shares a day
- 1.1K
On an average day about $35.5K of the fund changes hands.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 15.2
- Average Bulios Score
- 69 out of 100
Weight by Bulios Fair Price
- Undervalued 17%
- Fairly valued 23%
- Overvalued 60%
On average the companies inside trade for 15.2 times their yearly profit. By Fair Price, 60% of the rated weight comes out as overvalued.
Counted from its largest companies (29), which make up 83% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Similar funds
Funds that hold much of the same. The overlap says how much of their weight they share with this fund.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
FD FDIQ Invesco Bloomberg Financial Data Providers ETF | United States | 0.35% | $43.2M | - | Pays out | 38% |
IN INFL Horizon Kinetics Inflation Beneficiaries ETF | United States | 0.85% | $1.54B | +16% | Pays out | 24% |