JAPN – Horizon Kinetics Japan Ownr Oprtr ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks long-term growth of capital. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in Japanese companies that are operated by individuals that have significant ownership in the company. Under normal circumstances, at least 80% of the fund’s net assets (plus any borrowings for investment purposes) will be invested in securities of companies located in Japan. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
JAPN	Horizon Kinetics Japan Owner Operator ETF	ETF	Open	—		May 12, 2025	$24.79M	0.850%	—	—	$6.07M

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