At a glance
BETZ charges 0.75% a year, above the 0.62% average of the 3 funds most like it (the most expensive of 4). It has $52.6M in assets, the 2nd largest of that group; it paid 5.8% of its price in distributions over the past 12 months, annual. Over the past year it returned −22.9% with distributions reinvested (S&P 500: +11.5%), 3rd of those 4 funds; over three years it returned +6.8% a year. At its worst it fell 48.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 35 months after the low. Its ten largest positions make up 58.7% of the fund, out of 23 in all.
The short version
Roundhill Sports Betting & iGaming ETF (BETZ) tracks the Morningstar Sports Betting & iGaming Select Index. The index holds online sportsbooks, casino-game developers, lottery operators and betting-data firms such as Flutter Entertainment, DraftKings and Evolution. It is a narrow, global bet on one industry: only about 29% of assets were in US companies as of June 30, 2026. Its 0.75% expense ratio is the highest among its closest peers, which average 0.62%.
Price history
The interactive chart needs JavaScript.
BETZ -22.9% 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 | |
|---|---|---|---|---|---|---|
| BETZ official prospectus, to Dec 31, 2025 | — | +16.02% | — | -2.84% | — | +6.99% |
| BETZ price data to Oct 27, 2026 | -21.1% | -22.9% | +6.8% | -10.4% | — | -9.7% |
- Over the year to Oct 27, 2026, BETZ returned -22.9%, 3rd of 4 among similar funds.
- Its 5-year annualized return was -10.4%.
- Its worst full calendar year was 2022 (-42.0%); its best was 2023 (+21.2%).
- The deepest fall in its price history was 60.8% (Apr 27, 2021 to Sep 26, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -21.1% | — |
| 2025 | +15.7% | +16.02% |
| 2024 | +10.2% | +10.24% |
| 2023 | +21.2% | +21.30% |
| 2022 | -42.0% | -41.99% |
| 2021 | — | -3.78% |
| 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 | Lost 47% over that stretch · deepest drop along the way 48.5%, back to its old high 34.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.9600 | +500.0% |
| 2024 | $0.1600 | +77.8% |
| 2022 | $0.0900 |
What's inside
As of Jun 30, 2026, the fund held 23 securities; the ten largest made up 58.73% of assets. It also reported 4.12% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Flutter Entertainment PLC | 7.54% | |
| Allwyn AG | 6.74% | |
| DraftKings Inc | 6.60% | |
| Evolution AB | 6.55% | |
| Rush Street Interactive Inc | 5.80% | |
| Super Group SGHC Ltd | 5.53% | |
| Lottomatica Group Spa | 5.32% | |
| Sportradar Group AG | 4.98% | |
| Entain PLC | 4.97% | |
| Light & Wonder Inc | 4.70% | |
| FDJ UNITED | 4.68% | |
| Penn Entertainment Inc | 4.28% | |
| Ballys Intralot SA | 4.02% | |
| Genius Sports Ltd | 3.62% | |
| Playtech Plc | 3.32% |
By country
United States 28.91%Switzerland 11.72%Sweden 9.8%United Kingdom 8.6%Guernsey 5.53%By asset type
Stocks 99.6%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $1.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.71%, -2.91%, +0.16%.
How it works
BETZ, from Roundhill Investments, aims to track the Morningstar Sports Betting & iGaming Select Index before fees, rather than picking stocks. Morningstar scores companies 0 to 4 by the share of revenue it expects each to earn from sports betting or iGaming (online poker, slots and lottery) five years out. A stock needs a score of at least 1 (10% or more of revenue), a free-float market value (the value of publicly tradable shares) of at least $100 million, and average daily trading of at least $250,000 over three months.
Weights blend each company's theme score with its free-float market value, so higher-scoring companies get more weight. No stock may exceed 10%, and stocks weighing 5% or more cannot total over 40%. The index resets its members and weights once a year, on the Monday after the third Friday in December. It had 28 members as of March 31, 2026.
The fund generally holds every index stock in roughly the same proportions. Sub-adviser Exchange Traded Concepts may instead hold a smaller sample with similar traits when owning every stock is impractical or costly. As of June 30, 2026, the largest holdings were Flutter Entertainment (7.5%), Allwyn (6.7%) and DraftKings (6.6%). The fund held no derivatives.
What it really costs
- BETZ charges 0.75% a year, versus an average of 0.62% for the similar funds below (4th of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $930 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BETZ | $77 | $240 | $417 | $930 |
In a retirement portfolio
It is a single-industry, mostly foreign stock fund that lost about 42% in 2022, so it can play a small supporting role but not be the core of a portfolio.
BETZ launched in June 2020, so it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 48.5% between January 3 and September 26, 2022. It took about 35 months to regain that level, in August 2025. Its worst calendar year was 2022, at about -42%. Its deepest drop, 60.8% from April 2021 to September 2022, had not been fully recovered as of October 27, 2026. Anyone drawing on savings in a year like 2022 would have been cashing out shares at steep losses.
The trailing 12-month yield was 5.8% as of October 27, 2026. It comes as a single payment once a year, so the amount can change a lot from one year to the next. Under the SEC's standard example, a $10,000 investment would cost about $930 in fees over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, targeted stake in sports betting and iGaming firms like Flutter, DraftKings and Evolution, alongside a diversified core.
- Those comfortable with a mostly foreign portfolio, about 29% US as of June 30, 2026, and the currency swings that come with it.
- People able to hold through deep drops, such as the 48.5% fall in 2022 that took about 35 months to recover.
Look elsewhere if
- Cost-focused investors: the 0.75% expense ratio is the highest among comparable funds, which average 0.62%.
- Retirees needing steady income: the 5.8% trailing yield came as one annual payment and can vary widely year to year.
- Anyone seeking broad diversification: about 59% of assets sat in the top 10 holdings, all in one heavily regulated industry.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is BETZ a good investment for retirement?
BETZ is a high-risk, single-industry fund, so for retirement savers it works at most as a small slice of a broader portfolio. It lost about 42% in 2022. Its deepest drop, 60.8%, had not been recovered as of October 27, 2026, and it was down 21.1% in 2026 through that date. Swings this large matter most for money that may be needed during a downturn.
What's the difference between BETZ and ODDS?
Both funds focus on betting and gaming stocks and share about 43% of their holdings. Pacer BlueStar Digital Entertainment ETF (ODDS) is cheaper, at 0.62% a year compared with 0.75% for BETZ. It is also much smaller, with about $4 million in assets as of July 31, 2026, against about $52.6 million for BETZ as of June 30, 2026. As of October 27, 2026, ODDS returned -25.8% over one year (BETZ: -22.9%) and 12.7% a year over three years (BETZ: 6.8%).
Does BETZ pay a dividend?
Yes, but only once a year. Over the 12 months to October 27, 2026, BETZ paid $0.96 per share, a trailing yield of 5.8%. The payout comes from dividends paid by the betting and gaming companies it holds, so it depends on their profits and policies. Because it arrives in a single annual payment, the amount can change sharply from one year to the next and may not suit anyone who needs regular income.
What is the BETZ expense ratio?
BETZ charges 0.75% a year, according to its prospectus filed April 30, 2026. Under the SEC's standard example, $10,000 invested with a 5% annual return would cost about $77 in the first year, $417 over five years and $930 over 10 years. Similar funds charge less: Invesco Leisure and Entertainment ETF charges 0.57%, Pacer BlueStar Digital Entertainment ETF 0.62% and VanEck Digital Native Economy ETF 0.67%.
What stocks are in the BETZ ETF?
As of June 30, 2026, the largest holdings were Flutter Entertainment (7.5%), Allwyn (6.7%), DraftKings (6.6%), Evolution (6.6%) and Rush Street Interactive (5.8%). Super Group, Lottomatica, Sportradar and Entain came next. The fund held 23 issuers, and the top 10 made up about 59% of assets. US companies were about 29% of the fund. Switzerland, Sweden, the UK, Guernsey and Italy made up much of the rest.