Summary
Horizon Kinetics Medical ETF is an ETF - a fund traded on an exchange like a stock - run by Horizon Kinetics. Positions inside: 34. The ten largest make up 74% of the fund.
- Yearly costs
- 0.85%
- Fund size
- $17.7M
- Positions
- 34
- Dividend yield
- 1.07%
- Running since
- 2023
What speaks for it
- Average yearly growth over the last three years: 11%.
What to watch
- The ten largest positions make up 74% of the fund, so its result rests on a few names.
- 100% of the fund is in one sector (Healthcare).
- 80% of the fund is in one country (United States).
- Costs of 0.85% a year are above the middle of comparable funds (0.45%).
- A small fund with $17.7M under management; small funds get closed more often.
- It trades little: only about $71.8K 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
- +8.3%
- 3 months
- +6.1%
- This year
- +15%
- 1 year
- +20%
- 3 years
- +38%
- Avg. market cap
- $468.9B
- P/E
- 32.6x
- Forward P/E
- 20.2x
- P/S
- 5.6x
- P/B
- 5.5x
- P/FCF
- 27.0x
- EV/EBITDA
- 13.7x
- Dividend yield
- 1.55%
- ROIC
- -2.3%
- ROE
- 29.4%
- Gross margin
- 58.0%
- Operating margin
- -45.7%
- Net margin
- -44.5%
- Payout ratio
- 50.6%
- Net debt/EBITDA
- 2.1x
- Beta
- 0.52
Weighted average of the 30 largest companies, which make up 92% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 LLEli Lilly LLY 20%
- 2 ABAbbVie ABBV 10.0%
- 3 US BANK MMDA - USBGFS 7 06/01/2031 7.7%
- 4 NVNovartis NVS 7.0%
- 5 JNJohnson & Johnson JNJ 5.9%
- 6 AMAmgen AMGN 4.9%
- 7 AZAstraZeneca AZN 4.8%
- 8 ALAlkermes ALKS 4.7%
- 9 MRMerck & Co. MRK 4.4%
- 10 BMBristol-Myers Squibb BMY 4.2%
Positions in the fund: 34. The ten largest make up 74% of it.
Composition as of Nov 7, 2026.
Where is it spread?
One sector dominatesBy sector
- Healthcare 100%
By country
- United States 80%
- Switzerland 11%
- United Kingdom 8.9%
By company size
- Mega cap 62%
- Large cap 22%
- Mid cap 13%
- Small cap 1.4%
- Micro cap 1.6%
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 92% of the fund.
Largest sector: Healthcare (100%). Largest country: United States (80%). Largest size group: Mega cap (62%).
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
- +11%
- Deepest drop
- -25%
- Yearly volatility
- 19%
Average yearly growth over the last three years: 11%. Deepest drop in these years: 25% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 1.07%
- Payments a year
- 1
- Last payment
- $0.41
Over the last 12 months it paid $0.41 per share, which is 1.07% of today's price. The last payment was $0.41 on Dec 23, 2025.
Is it easy to buy and sell?
It trades little- Traded a day
- $71.8K
- Shares a day
- 1.9K
On an average day about $71.8K of the fund changes hands.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 32.6
- Average Bulios Score
- 58 out of 100
Weight by Bulios Fair Price
- Undervalued 6.8%
- Fairly valued 30%
- Overvalued 63%
On average the companies inside trade for 32.6 times their yearly profit. By Fair Price, 63% of the rated weight comes out as overvalued.
Counted from its largest companies (30), which make up 92% 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 | ||
|---|---|---|---|---|---|---|
PP PPH VanEck Pharmaceutical ETF | United States | 0.36% | $1.07B | +27% | Pays out | 50% |
ZP ZPDH.DE State Street SPDR S&P U.S. Health Care Select Sector UCITS ETF (Acc) | Ireland | 0.15% | $648.2M | +34% | Reinvests | 45% |
TR TRUH VanEck Healthcare TruSector ETF | United States | 0.10% | $645.8K | - | Pays out | 45% |
IU IUHE.AS iShares S&P 500 Health Care Sector UCITS ETF | Ireland | 0.18% | $149.5M | +25% | Pays out | 45% |
QD QDVG.DE iShares S&P 500 Health Care Sector UCITS ETF | Ireland | 0.15% | $3.60B | +34% | Reinvests | 45% |
XU XUHC.DE Xtrackers MSCI USA Health Care UCITS ETF 1D | Ireland | 0.12% | $1.16B | +29% | Pays out | 45% |