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: 36. The ten largest make up 49% of the fund.
- Yearly costs
- 0.85%
- Fund size
- $3.02M
- Positions
- 36
- Running since
- 2026
What speaks for it
Nothing stands out in its favour.
What to watch
- 100% 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 $3.02M under management; small funds get closed more often.
- It trades little: only about $20.5K 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
- -7.2%
- 3 months
- -5.8%
- Avg. market cap
- $78.2B
- P/E
- 17.0x
- Forward P/E
- 13.8x
- P/S
- 1.5x
- P/B
- 2.5x
- P/FCF
- 14.1x
- EV/EBITDA
- 9.2x
- Dividend yield
- 2.27%
- ROIC
- 1,039.7%
- ROE
- 1,002.5%
- Gross margin
- 43.6%
- Operating margin
- 31.3%
- Net margin
- 25.0%
- Payout ratio
- 38.7%
- Net debt/EBITDA
- 1.3x
- Beta
- -0.03
Weighted average of the 32 largest companies, which make up 89% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Moderately concentrated- 1 PBPermian Basin Royalty Trust PBT 8.4%
- 2 US BANK MMDA - USBGFS 7 06/01/2031 7.5%
- 3 LBBath & Body Works LB 6.2%
- 4 FADiamondback Energy, Inc. FANG 4.4%
- 5 SLSchlumberger Limited SLB 3.9%
- 6 COConocoPhillips COP 3.9%
- 7 EOEOG Resources EOG 3.8%
- 8 CVChevron CVX 3.6%
- 9 OXOccidental Petroleum OXY 3.6%
- 10 XOExxon Mobil XOM 3.6%
Positions in the fund: 36. The ten largest make up 49% of it.
Composition as of Nov 7, 2026.
Where is it spread?
One countryBy country
- United States 100%
By company size
- Mega cap 8.1%
- Large cap 57%
- Mid cap 17%
- Small cap 18%
- 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 89% of the fund.
Largest country: United States (100%). Largest size group: Large cap (57%).
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
- -12%
- Yearly volatility
- 16%
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
- $20.5K
- Shares a day
- 742
On an average day about $20.5K of the fund changes hands.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 17.0
- Average Bulios Score
- 64 out of 100
Weight by Bulios Fair Price
- Undervalued 26%
- Fairly valued 21%
- Overvalued 53%
On average the companies inside trade for 17.0 times their yearly profit. By Fair Price, 53% of the rated weight comes out as overvalued.
Counted from its largest companies (32), which make up 89% 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% | $594.3M | +32% | Pays out | 33% |
NV NVIR Horizon Kinetics Energy Remediation ETF | United States | 0.85% | $4.68M | +14% | Pays out | 32% |
EM EMAX.TO Hamilton Energy YIELD MAXIMIZER ETF | Canada | 0.65% | $328.8M | +18% | Pays out | 30% |
FT FTXN First Trust Nasdaq Oil & Gas ETF | United States | 0.60% | $121.1M | +35% | Pays out | 28% |
XL XLE Energy Select Sector SPDR Fund | United States | 0.08% | $40.4B | +38% | Pays out | 27% |
WE WEEI Westwood Salient Enhanced Energy Income ETF | United States | 0.85% | $22.5M | +14% | Pays out | 26% |
