I have had horses for 20+ yrs. I have always fed hay based pellet. For the last 4 yrs I have gotten into the mini horses as well. I give them the same pellet as my full size horses ( 14 percent ). I am lucky because all my horses are very easy keepers. Except the 1 I rescued, he requires more of everything, he only goes out at nite because he can't take the heat and he runs the fence line literally all day and screams where the mares pasture is, and he just drops the weight!! They also get a mix of berm & alf with every feeding. What do you prefer??