At a glance
ARVR charges 0.7% a year, above the 0.41% average of the 8 funds most like it (the most expensive of 9). It has $2.8M in assets, the 9th largest of that group; it paid 0.64% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +11.6% with distributions reinvested (S&P 500: +11.5%), 5th of those 9 funds; over three years it returned +27.5% a year. Its ten largest positions make up 44.4% of the fund, out of 42 in all.
The short version
First Trust Indxx Metaverse ETF (ARVR) tracks the Indxx Metaverse Index, which gives roughly equal weight to up to 50 companies tied to virtual reality, gaming, digital platforms, chips and 5G. It may suit investors wanting chip-heavy exposure, led by Micron, AMD and Intel, without a few giants dominating. But its 0.70% expense ratio tops all eight similar funds compared, and its $2.8 million in assets as of June 30, 2026, trails them all.
Price history
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ARVR +11.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ARVR official prospectus, to Dec 31, 2025 | — | +28.65% | — | — | — | +14.32% |
| ARVR price data to Oct 27, 2026 | +18.0% | +11.6% | +27.5% | — | — | +26.7% |
- Over the year to Oct 27, 2026, ARVR returned +11.6%, 5th of 9 among similar funds.
- Its worst full calendar year was 2024 (+10.1%); its best was 2023 (+43.4%).
- The deepest fall in its price history was 21.5% (Feb 19, 2025 to Apr 8, 2025), recovered by May 13, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +18.0% | — |
| 2025 | +29.1% | +28.65% |
| 2024 | +10.1% | +10.47% |
| 2023 | +43.4% | +42.53% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1100 | |
| 2025 | $0.2600 | -13.3% |
| 2024 | $0.3000 | +650.0% |
| 2023 | $0.0400 |
What's inside
As of Jun 30, 2026, the fund held 42 securities; the ten largest made up 44.44% of assets.
| Holding | Weight | |
|---|---|---|
| MICRON TECHNOLOGY INC | 7.00% | |
| ADVANCED MICRO DEVICES INC | 6.29% | |
| INTEL CORP | 5.80% | |
| STMICROELECTRONICS NV | 4.94% | |
| QUALCOMM INC | 3.70% | |
| TEXAS INSTRUMENTS INC | 3.55% | |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 3.36% | |
| AMPHENOL CORP | 3.28% | |
| MICROCHIP TECHNOLOGY INC | 3.28% | |
| TAKE-TWO INTERACTIVE SOFTWARE INC | 3.24% | |
| NETEASE INC | 2.95% | |
| APPLE INC | 2.84% | |
| SYNOPSYS INC | 2.82% | |
| NVIDIA CORP | 2.79% | |
| ZOOM COMMUNICATIONS INC | 2.63% |
By country
United States 66.23%Japan 10.93%Cayman Islands 7.88%Taiwan 7.21%Netherlands 4.94%By asset type
Stocks 99.8%By sector
Sectors of the companies held, for the 61.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $2.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +17.31%, +9.99%, -0.81%.
How it works
ARVR aims to match the Indxx Metaverse Index, before fees, generally by holding every index stock at its index weight (full replication). Under normal conditions, the fund keeps at least 80% of net assets in index stocks. Indxx, Inc., which is not affiliated with First Trust, runs the index. It follows set rules, but Indxx can use judgment to add, drop or delay a stock.
Indxx starts with five sub-themes: games, design software and streaming; social, video and virtual-world platforms; payments and nonfungible tokens (NFTs, unique digital tokens); optics and displays; and chips, hardware and 5G. Companies qualify if these areas supply at least 50% of revenue, or if they are worth over $10 billion and have invested at least $5 billion in them. Their stock must also pass listing, price, size and trading tests, and depositary receipts (certificates representing foreign shares) of Chinese companies are excluded. The 50 largest eligible companies by market value are chosen.
Each company gets an equal weight, except those worth under $10 billion, which get half a weight; the leftover goes to larger names. The index resets weights quarterly and reviews membership twice a year. Weights drift in between: as of June 30, 2026, the fund held 42 stocks, with Micron at about 7% and the top 10 at about 44%.
What it really costs
- ARVR charges 0.7% a year, versus an average of 0.41% for the similar funds below (9th of 9, cheapest first).
In a retirement portfolio
It is a narrow, chip-heavy theme fund that has swung more than the market, with a high fee and a short record, so it fits as a small add-on rather than a core holding.
ARVR could add a chip-heavy slice of tech and gaming stocks. Launched April 19, 2022, it missed the 2008 and 2020 crashes, and its price record starts October 18, 2022, after the 2022 bear market's low. Its weakest full calendar year, 2024, still gained 10.47%. Its deepest drop, 21.5% from February 19 to April 8, 2025, recovered within about a month. Its one-year beta of 1.44 shows it has swung harder than the market; a retiree drawing cash in a longer slump could lock in losses.
Income is minor: a 0.64% yield as of October 27, 2026, paid twice a year. The 0.70% annual fee tops the 0.41% average for similar funds, and tiny funds like this one ($2.8 million in assets as of June 30, 2026) are sometimes closed. Past results don't predict the future; a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting equal-weighted exposure to chipmakers, game publishers and platforms such as Micron, AMD, Intel and Take-Two, without a few giants dominating.
- Those wanting a small side holding who can live with swings like the 21.5% drop from February to April 2025.
- Growth-minded investors who don't need income from it; the yield was just 0.64% as of October 27, 2026, paid twice a year.
Look elsewhere if
- Cost-focused investors: the 0.70% expense ratio is the highest among similar funds compared, versus 0.40% for Fidelity Metaverse ETF (FMET) and a 0.41% average.
- Anyone wary of tiny funds: assets were $2.8 million as of June 30, 2026, after investors pulled a net $2.7 million over three months.
- Investors seeking broad diversification: ARVR held 42 stocks as of June 30, 2026, leaning heavily on chipmakers, with the top 10 at about 44%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ARVR this fund | — | 0.7% | $2.8M | +11.6% | +27.5% |
| XNTK SPDR NYSE Technology ETF | 40% | 0.35% | $2.35B | +23.1% | +40.6% |
| FMET Fidelity Metaverse ETF | 40% | 0.4% | $44.0M | -1.2% | +19.6% |
| GGME Invesco Next Gen Media and Gaming ETF | 38% | 0.61% | $44.0M | -2.7% | +26.7% |
| METV Roundhill Ball Metaverse ETF | 35% | 0.59% | $210.6M | -1.0% | +31.8% |
| SOXX iShares Semiconductor ETF | 34% | 0.35% | $47.82B | +48.5% | +44.1% |
| SMH VanEck Semiconductor ETF | 33% | 0.35% | $77.20B | +40.5% | +52.2% |
| IGM iShares Expanded Tech Sector ETF | 29% | 0.41% | $10.71B | +21.3% | +38.6% |
Questions investors ask
What stocks are in the ARVR ETF?
ARVR holds metaverse-related stocks, and its largest positions are chipmakers. As of June 30, 2026, it owned 42 stocks. The largest were Micron (about 7.0%), AMD (6.3%), Intel (5.8%), STMicroelectronics (4.9%) and Qualcomm (3.7%), followed by Texas Instruments, Taiwan Semiconductor, Amphenol, Microchip Technology and game publisher Take-Two Interactive. The top 10 made up about 44% of assets. About 66% was in US companies, with Japan (about 11%), the Cayman Islands (8%) and Taiwan (7%) next.
How has ARVR performed since it launched?
ARVR gained in each of its full calendar years: 42.53% in 2023, 10.47% in 2024 and 28.65% in 2025, according to its prospectus. As of December 31, 2025, its average annual return since its April 19, 2022 launch was 14.32%. As of October 27, 2026, it was up 18% year to date and 11.6% over one year. Its strongest quarter gained 23.72% (ended June 30, 2025); its weakest lost 7.3% (ended September 30, 2023).
Is ARVR a good ETF for retirement?
ARVR is better suited to a small, higher-risk side position than a core retirement holding. It tracks a narrow theme that leans on chipmakers, and its one-year beta of 1.44 shows it has swung more than the market. Its yield was just 0.64% as of October 27, 2026, paid twice a year. Its price record starts October 18, 2022, so it doesn't cover a full bear market, and its deepest drop was 21.5% in early 2025.
What's the difference between ARVR and FMET?
Both are metaverse-themed stock ETFs with about 40% of holdings in common, but they differ in cost, size and results. Fidelity Metaverse ETF (FMET) charges 0.40% a year versus ARVR's 0.70%, and held about $44 million as of June 30, 2026, against ARVR's $2.8 million. ARVR's returns have been stronger: as of October 27, 2026, it returned 11.6% over one year and 27.5% a year over three years, versus -1.2% and 19.6% for FMET. Past results don't predict future ones.
Does ARVR pay dividends?
Yes, but the payout is small. ARVR pays distributions twice a year, and its yield over the prior 12 months was 0.64% as of October 27, 2026, or about $0.37 per share. Distributions come from dividends paid by the stocks it holds, after fund expenses. Its 0.70% expense ratio is higher than that yield, and the fund is designed to track a metaverse theme rather than to produce income.