{
 "ticker": "NVIR",
 "name": "Horizon Kinetics Energy and Remediation ETF",
 "issuer": "not established",
 "desk": "themes",
 "url": "https://etfiq.com/funds/NVIR",
 "html": "https://etfiq.com/funds/NVIR",
 "markdown": "https://etfiq.com/funds/NVIR.md",
 "as_of": "2026-09-11",
 "verdict": "NVIR holds 39 stocks, and 58% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "41.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NVIR, already in the S&P 500: 41.9%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "98.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NVIR, active share vs the S&P 500: 98.0%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "46.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NVIR, top ten holdings: 46.7%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+31.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NVIR, total return, 1 year: +31.4%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "NVIR, net assets: $6m (SEC filing, whole fund, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.85%",
   "source": "485BPOS XBRL, Apr 27, 2026",
   "as_of": "2026-09-11",
   "sentence": "NVIR, expense ratio: 0.85% (485BPOS XBRL, Apr 27, 2026)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Energy transition and decarbonisation",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Feb 22, 2023",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "41.9%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "98.0%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "4.2%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "99.6%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "46.7%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "39",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "Jun 30, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "Texas Pacific Land Corp 6.2%, CES Energy Solutions Corp 6.0%, Williams Cos Inc/The 5.6%, WaterBridge Infrastructure LLC 5.3%, Enerflex Ltd 4.2%, EQT Corp 4.1%, Permian Basin Royalty Trust 4.0%, Cheniere Energy Inc 3.9%, Suncor Energy Inc 3.9%, Select Water Solutions Inc 3.5%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u22121.4%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.85%",
   "source": "485BPOS XBRL, Apr 27, 2026"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.87%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "NBET 20%, TSES 16%, FIW 15%, PHO 14%, CGW 13%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+3.8%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "+0.5 pts",
   "Gap to Nasdaq-100": "+4.6 pts"
  },
  {
   "window": "6 months",
   "Total return": "+4.0%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "\u221212.0 pts",
   "Gap to Nasdaq-100": "\u221216.7 pts"
  },
  {
   "window": "1 year",
   "Total return": "+31.4%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "+13.9 pts",
   "Gap to Nasdaq-100": "+8.5 pts"
  },
  {
   "window": "3 years",
   "Total return": "+51.2%",
   "S&P 500": "+77.9%",
   "Gap to S&P 500": "\u221226.6 pts",
   "Gap to Nasdaq-100": "\u221243.9 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+71.5%",
   "S&P 500": "+100.6%",
   "Gap to S&P 500": "\u221229.1 pts",
   "Gap to Nasdaq-100": "\u221276.4 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of NVIR is in S&P 500 companies?",
   "a": "By its holdings filed for Jun 30, 2026, 42% of NVIR by weight is stocks the S&P 500 already holds. Its active share against the index is 98%, so that share is the part doing something different."
  },
  {
   "q": "What does NVIR hold?",
   "a": "39 positions as filed for Jun 30, 2026, with the top ten at 47% of the fund. The largest are Texas Pacific Land Corp at 6.2%, CES Energy Solutions Corp at 6.0%, Williams Cos Inc/The at 5.6%."
  },
  {
   "q": "Has NVIR beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 NVIR returned +31.4% with distributions reinvested, against +17.5% for the S&P 500, so it finished ahead of the index by 13.9 points."
  },
  {
   "q": "What does NVIR cost?",
   "a": "The prospectus expense ratio is 0.85% a year. Because 98% of the fund differs from the S&P 500, the fee on that differing part works out at 0.87%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}