Summary
Listed Funds Trust - Horizon Kinetics Texas ETF is an ETF - a fund traded on an exchange like a stock - run by Horizon Kinetics. Positions inside: 35. The ten largest make up 50% of the fund.
- Yearly costs
- 0.85%
- Fund size
- $2.97M
- Positions
- 35
- Running since
- 2026
What speaks for it
Nothing stands out in its favour.
What to watch
- The ten largest positions make up 50% of the fund, so its result rests on a few names.
- 93% of the fund is in one country (United States).
- Costs of 0.85% a year are above the middle of comparable funds (0.44%).
- A young fund: it has been running only since 2026.
- A small fund with $2.97M under management; small funds get closed more often.
- It trades little: only about $22.1K 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
- +2.2%
- 3 months
- -0.6%
- Avg. market cap
- $83.7B
- P/E
- 20.6x
- Forward P/E
- 14.8x
- P/S
- 1.7x
- P/B
- 2.8x
- P/FCF
- 15.5x
- EV/EBITDA
- 12.1x
- Dividend yield
- 2.06%
- ROIC
- 1,060.6%
- ROE
- 1,048.6%
- Gross margin
- 48.0%
- Operating margin
- 32.6%
- Net margin
- 24.4%
- Payout ratio
- 42.4%
- Net debt/EBITDA
- 2.2x
- Beta
- -0.03
Weighted average of the 32 largest companies, which make up 90% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 PBPermian Basin Royalty Trust PBT 8.9%
- 2 LBBath & Body Works LB 7.2%
- 3 US BANK MMDA - USBGFS 7 06/01/2031 7.0%
- 4 FADiamondback Energy, Inc. FANG 4.6%
- 5 TPTexas Pacific Land Corporation TPL 4.1%
- 6 COConocoPhillips COP 3.9%
- 7 EOEOG Resources EOG 3.8%
- 8 OXOccidental Petroleum OXY 3.7%
- 9 XOExxon Mobil XOM 3.6%
- 10 SLSchlumberger Limited SLB 3.6%
Positions in the fund: 35. The ten largest make up 50% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One countryBy country
- United States 93%
- Other countries 7.0%
By company size
- Mega cap 8.0%
- Large cap 56%
- Mid cap 16%
- Small cap 20%
- Micro cap 0.08%
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 90% of the fund.
Largest country: United States (93%). Largest size group: Large cap (56%).
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?
- Deepest drop
- -8.3%
It has traded for less than a year, too short to judge.
Does it pay dividends?
We have no record of payments from this fund.
Is it easy to buy and sell?
It trades little- Traded a day
- $22.1K
- Shares a day
- 742
On an average day about $22.1K of the fund changes hands.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 20.6
- Average Bulios Score
- 61 out of 100
Weight by Bulios Fair Price
- Undervalued 28%
- Fairly valued 22%
- Overvalued 50%
On average the companies inside trade for 20.6 times their yearly profit. By Fair Price, 50% of the rated weight comes out as overvalued.
Counted from its largest companies (32), which make up 90% 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 | ||
|---|---|---|---|---|---|---|
RS RSPG Invesco S&P 500 Equal Weight Energy ETF | United States | 0.40% | $670.1M | +55% | Pays out | 34% |
NV NVIR Horizon Kinetics Energy Remediation ETF | United States | 0.85% | $4.93M | +24% | Pays out | 34% |
FT FTXN First Trust Nasdaq Oil & Gas ETF | United States | 0.60% | $136.7M | +56% | Pays out | 28% |
EM EMAX.TO Hamilton Energy YIELD MAXIMIZER ETF | Canada | 0.65% | $371.7M | +35% | Pays out | 27% |
XL XLE Energy Select Sector SPDR Fund | United States | 0.08% | $44.6B | +57% | Pays out | 27% |
WE WEEI Westwood Salient Enhanced Energy Income ETF | United States | 0.85% | $24.2M | +25% | Pays out | 26% |
