What are gaming ETFs?
Gaming ETFs own companies that make and publish video games, run game platforms or supply the technology behind them. Four US-listed funds cover the theme, and they share many stocks. Take-Two Interactive, Electronic Arts, Unity Software and Roblox appear in all four. NetEase is in three, and Nintendo and International Games System are each in two. Every fund also holds large stakes in Asian game companies such as Tencent, NetEase, Nintendo or Krafton, so none of them is a US-only fund.
None of the four uses leverage, inverse bets or options. ESPO from VanEck, HERO from Global X and GAMR from Amplify each track an index. These are the MVIS Global Video Gaming & eSports Index, the Solactive Video Games & Esports Index and the VettaFi Video Game Leaders Index. Roundhill's NERD gives its goal as total return, and its objective names no index. GAMR stands apart from the rest. Its largest holdings are Advanced Micro Devices (11.58%), Meta Platforms (9.65%) and Nvidia (9.51%), not game publishers. It is also the most concentrated, with 21 stocks and 67.29% in its top 10. HERO and NERD are broader, with 43 and 40 holdings.
Fees fall in a narrow band. HERO and NERD charge 0.50% a year, ESPO 0.55% and GAMR 0.59%, so the median is 0.50%. The expense ratio is the yearly fee taken from a fund's assets. It cuts into returns whether the fund rises or falls.
The money in these funds is small and unevenly spread. The four funds held about $356 million in total. ESPO alone had about $239 million, more than the other three combined. NERD, the smallest, had about $14 million.
Gaming ETF holdings: the stocks most funds own
The stocks that show up most often among the largest positions of the 4 biggest gaming ETFs with holdings reports, from their latest N-PORT filings.
| Stock | Funds holding it | Typical weight |
|---|---|---|
| Take-Two Interactive Software Inc | 4 of 4 | 6.82% |
| Electronic Arts Inc | 4 of 4 | 6.38% |
| Unity Software Inc | 4 of 4 | 4.02% |
| ROBLOX Corp | 4 of 4 | 3.95% |
| NetEase Inc | 3 of 4 | 7.95% |
| Nintendo Co Ltd | 2 of 4 | 4.59% |
| International Games System Co | 2 of 4 | 2.54% |
Typical weight is the median share of each fund’s assets in the stock, among the funds that hold it in their 25 largest positions.
The largest gaming ETFs, side by side
Swipe the table to see all 4 funds.
| ESPO | HERO | GAMR | NERD | |
|---|---|---|---|---|
| Net assets | $238.8M | $64.6M | $39.0M | $14.1M |
| Expense ratio | 0.55% | 0.5% | 0.59% | 0.5% |
| Holdings | 25 | 43 | 21 | 40 |
| In the 10 largest | 60.68% | 59.2% | 67.29% | 64.67% |
| Biggest holding | NetEase Inc (7.95%) | Bnyrepos (7.73%) | Advanced Micro Devices Inc (11.58%) | NetEase Inc (12.26%) |
| Yield | 1.31% | 1.68% | 0.49% | 0.66% |
| 1-year return | -14.1% | -15.4% | -4.8% | -15.9% |
| 3 years, a year | +27.0% | +16.8% | +24.8% | +20.7% |
| 5 years, a year | +8.9% | -0.6% | +2.0% | -2.5% |
| Worst drop, past year | -25.7% | -27.0% | -29.4% | -29.2% |
| Launched | 2017 | 2019 | 2016 | 2019 |
The largest ordinary funds by net assets (leveraged and inverse funds are listed further down). Holdings from each fund’s latest N-PORT report; returns include reinvested distributions, as of Oct 27, 2026.
Head to head
ESPO vs HERO
ESPO holds 25 stocks with 60.68% in its top 10, and NetEase is its largest at 7.95%. HERO spreads across 43 holdings with 59.2% in its top 10. Its biggest position, at 7.73%, is a cash-like repurchase agreement. The two share 68.9% of their assets. HERO charges 0.50% a year, ESPO 0.55%. As of October 27, 2026, ESPO lost 14.1% over one year and gained 27% over three years. HERO lost 15.4% and gained 16.8%. ESPO's worst one-year drop was 25.7%, HERO's 27%. ESPO may suit those wanting the largest fund; HERO, those wanting more names at a lower fee.
HERO vs NERD
HERO and NERD are the most alike. They share 32 holdings and 70.3% of their assets, and both charge 0.50% a year. HERO has 43 holdings with 59.2% in its top 10. NERD has 40, with 64.67% in its top 10 and NetEase alone at 12.26%. As of October 27, 2026, HERO lost 15.4% over one year and NERD 15.9%. Over three years they gained 16.8% and 20.7%. Their worst one-year drops were 27% and 29.2%. HERO yielded 1.68%, NERD 0.66%. HERO may suit those wanting a wider spread and more income; NERD, those accepting a bigger bet on its top names.
ESPO vs GAMR
These two share just 11 holdings and 37.1% of assets. ESPO holds 25 stocks with 60.68% in its top 10, led by game companies such as NetEase at 7.95%. GAMR holds 21 stocks with 67.29% in its top 10. Advanced Micro Devices leads at 11.58%, followed by Meta Platforms and Nvidia. GAMR costs 0.59% a year, ESPO 0.55%. As of October 27, 2026, GAMR lost 4.8% over one year and ESPO 14.1%. Over three years ESPO gained 27% and GAMR 24.8%. GAMR's worst one-year drop was 29.4%, ESPO's 25.7%. GAMR may suit those who also want chip and tech stocks; ESPO, those focused on game makers.
How much do the largest gaming ETFs overlap?
Owning two funds that hold the same stocks adds little diversification. Overlap here is the share of assets two funds have in common: for each stock both own, the smaller of its two weights, added up.
| Funds | Assets in common | Shared holdings | |
|---|---|---|---|
| HERO and NERD | 70.3% | 32 | |
| ESPO and HERO | 68.9% | 20 | |
| ESPO and NERD | 68.4% | 19 | |
| ESPO and GAMR | 37.1% | 11 | |
| GAMR and NERD | 27.2% | 9 | |
| HERO and GAMR | 24.8% | 8 |
From each fund’s full holdings in its latest N-PORT report.
How have gaming ETFs performed?
The five largest ordinary funds: growth from the start of the range, distributions reinvested. The dashed gray line is the S&P 500 (SPY).
Best-performing gaming ETFs over the past year
| # | Fund | Net assets | Cost | 1 mo | YTD | 1 yr | 3 yr |
|---|---|---|---|---|---|---|---|
| 1 | GAMR Amplify Video Game Leaders ETF | $39.0M | 0.59% | -4.5% | +6.2% | -4.8% | +24.8% |
| 2 | ESPO VanEck Video Gaming and eSports ETF | $238.8M | 0.55% | +2.0% | -4.9% | -14.1% | +27.0% |
| 3 | HERO Global X Video Games & Esports ETF | $64.6M | 0.5% | +1.4% | -7.6% | -15.4% | +16.8% |
Funds with at least $25 million in net assets; leveraged and inverse funds left out. Past returns don’t predict future returns.
How gaming ETFs did in past market crashes
| Fund | 2008 crash | 2020 crash | 2022 drop |
|---|---|---|---|
| ESPO | not yet launched | -18.7% | -40.4% |
| HERO | not yet launched | -19.6% | -39.2% |
| GAMR | not yet launched | -21.8% | -44.0% |
| NERD | not yet launched | -24.0% | -46.4% |
| S&P 500 (SPY) | -55.2% | -33.7% | -24.5% |
Total return from the stock market’s peak to its low in each fall, distributions reinvested.
What drives gaming ETFs?
Game companies earn money when people buy games, consoles and in-game items. Their profits follow consumer spending and the hit-or-miss success of big releases. A delayed or weak title can weigh on publishers such as Take-Two Interactive or Electronic Arts. Government rules matter too, including how some countries approve new games. Many holdings are based outside the US, so currency moves also affect returns. GAMR has other drivers because it owns Advanced Micro Devices, Nvidia and Meta Platforms, whose results depend on chip demand and advertising. Investors often price these stocks on the growth they expect, so interest rates can move them as well.
That mix has made the funds behave very differently from the broad market. In the 2020 COVID sell-off they fell between 18.7% (ESPO) and 24% (NERD), less than the S&P 500's 33.7% drop. In the 2022 bear market (a fall of 20% or more) the pattern reversed. The funds lost between 39.2% (HERO) and 46.4% (NERD), against 24.5% for the S&P 500. GAMR fell 44% and ESPO 40.4%. None of the four existed during the 2008 financial crisis, when the S&P 500 fell 55.2%.
Gaming ETFs with the lowest expense ratios
| # | Fund | Expense ratio | On $10,000 | Net assets |
|---|---|---|---|---|
| 1 | HERO Global X Video Games & Esports ETF | 0.5% | $50 a year | $64.6M |
| 2 | NERD Roundhill Video Games ETF | 0.5% | $50 a year | $14.1M |
| 3 | ESPO VanEck Video Gaming and eSports ETF | 0.55% | $55 a year | $238.8M |
| 4 | GAMR Amplify Video Game Leaders ETF | 0.59% | $59 a year | $39.0M |
Ordinary funds with at least $10 million in net assets. The median ordinary gaming ETF charges 0.5% a year; leveraged and inverse funds usually charge more.
Do gaming ETFs pay dividends?
4 of the 4 ordinary gaming ETFs with a page here paid distributions over the last 12 months, with a median yield of 0.66%.
| Highest yields | Yield | Net assets |
|---|---|---|
| HERO Global X Video Games & Esports ETF | 1.68% | $64.6M |
| ESPO VanEck Video Gaming and eSports ETF | 1.31% | $238.8M |
| GAMR Amplify Video Game Leaders ETF | 0.49% | $39.0M |
Distributions over the last 12 months divided by the price; funds with at least $25 million in net assets.
How to choose a gaming ETF
- Fees sit in a narrow range. HERO and NERD charge 0.50% a year, ESPO 0.55% and GAMR 0.59%. All four are plain stock funds with no leveraged, inverse or option-income versions. That makes holdings and size the bigger differences.
- Game publishers or chip and tech stocks. ESPO, HERO and NERD lean on game publishers such as NetEase, Electronic Arts and Take-Two. GAMR's largest holdings are AMD, Meta Platforms and Nvidia, so it shares only 24.8% to 37.1% of assets with each of the others.
- How concentrated each fund is. GAMR holds 21 stocks with 67.29% in its top 10, and NERD puts 12.26% in NetEase alone. HERO has the widest spread, with 43 holdings and 59.2% in its top 10. ESPO holds 25 stocks with 60.68%.
- Index rules versus a stated goal. ESPO, HERO and GAMR track named indexes from MVIS, Solactive and VettaFi. Each index has its own rules for picking and weighting stocks. NERD's objective names no index, only total return, and its prospectus describes how it chooses holdings.
- Fund size and trading costs. ESPO had about $239 million in assets, HERO about $65 million, GAMR about $39 million and NERD about $14 million. Smaller funds may have wider gaps between buying and selling prices and a higher risk of closing.
- Dividend yields differ but stay small. As of October 27, 2026, HERO yielded 1.68% and ESPO 1.31%, against 0.66% for NERD and 0.49% for GAMR. None of the four names income as its goal. Each aims to track an index or seek total return.
What are the risks of gaming ETFs?
- A few stocks drive results. The top 10 holdings make up 59.2% (HERO) to 67.29% (GAMR) of each fund. Take-Two, Electronic Arts, Unity Software and Roblox are in all four funds, so trouble at one of them affects every fund.
- Sharp swings within a single year. As of October 27, 2026, one-year volatility, a measure of how widely prices swing, ranged from 19.1% (HERO) to 23.4% (GAMR). During that year each fund fell 25.7% to 29.4% from its peak.
- Deep losses in the 2022 sell-off. In the 2022 bear market the funds lost 39.2% to 46.4%, against 24.5% for the S&P 500. Retirees drawing income must sell more shares after a drop that size to fund the same withdrawal.
- Foreign companies and government rules. Large holdings such as NetEase, Tencent, Nintendo and Krafton are based outside the US. That adds currency swings and exposure to foreign rules on games, such as how new titles get approved.
- Small funds can close. These funds are small: GAMR held about $39 million and NERD about $14 million. Small ETFs are more likely to shut down. Closing returns cash to shareholders and can trigger a taxable gain at an unplanned time.
List of all gaming ETFs, by size
| # | Fund | Net assets | Cost | Yield | YTD | 1 yr | 5 yr |
|---|---|---|---|---|---|---|---|
| 1 | ESPO VanEck Video Gaming and eSports ETF | $238.8M | 0.55% | 1.31% | -4.9% | -14.1% | +8.9% |
| 2 | HERO Global X Video Games & Esports ETF | $64.6M | 0.5% | 1.68% | -7.6% | -15.4% | -0.6% |
| 3 | GAMR Amplify Video Game Leaders ETF | $39.0M | 0.59% | 0.49% | +6.2% | -4.8% | +2.0% |
| 4 | NERD Roundhill Video Games ETF | $14.1M | 0.5% | 0.66% | -6.3% | -15.9% | -2.5% |
Questions investors ask about gaming ETFs
What is the largest gaming ETF?
ESPO, the VanEck Video Gaming and eSports ETF, is the largest, with about $239 million in net assets. That is more than HERO, GAMR and NERD combined. It tracks the MVIS Global Video Gaming & eSports Index, holds 25 stocks and charges 0.55% a year. Its largest holdings include NetEase (7.95%), Tencent (7.09%), Roblox (7.01%), Take-Two Interactive (6.94%) and Electronic Arts (6.38%).
What is the cheapest gaming ETF?
HERO from Global X and NERD from Roundhill cost the least, at 0.50% a year each. ESPO charges 0.55% and GAMR 0.59%. The expense ratio is the yearly fee taken out of a fund's assets. The gap between the cheapest and the most expensive is small, so holdings, size and concentration may set these funds apart more than cost does.
ESPO vs HERO: what's the difference?
ESPO is bigger and holds fewer stocks, while HERO holds more and costs a little less. ESPO, from VanEck, has about $239 million, 25 holdings and a 0.55% fee. HERO, from Global X, has about $65 million, 43 holdings and a 0.50% fee. They share 68.9% of their assets. As of October 27, 2026, ESPO lost 14.1% over one year and gained 27% over three years. HERO lost 15.4% and gained 16.8%. HERO yielded 1.68%, ESPO 1.31%.
Do gaming ETFs pay dividends?
Yes, all four pay dividends, but the yields are small. As of October 27, 2026, HERO yielded 1.68%, ESPO 1.31%, NERD 0.66% and GAMR 0.49%, for a median of 0.66%. A yield is a fund's yearly dividends divided by its share price. These funds aim to track gaming stocks or seek total return, not to produce income. They may suit growth-focused investors more than those who need steady cash.
Do gaming ETFs own Take-Two and EA?
Yes. All four gaming ETFs hold Take-Two Interactive and Electronic Arts, and all four also hold Unity Software and Roblox. The median weight is 6.82% for Take-Two and 6.38% for Electronic Arts. NERD holds the most of both, with Electronic Arts at 8.84% and Take-Two at 8.31%. ESPO holds 6.94% in Take-Two, and HERO holds 7.16% in Electronic Arts. In GAMR, chip and tech stocks carry more weight than either.
How many gaming ETFs are there?
Four US-listed ETFs focus on video games: ESPO from VanEck, HERO from Global X, GAMR from Amplify and NERD from Roundhill. Together they held about $356 million. GAMR is the oldest, launched in March 2016. ESPO followed in March 2017, NERD in June 2019 and HERO in October 2019. None is leveraged, inverse or options-based; all four are plain stock funds.
Is there a Vanguard gaming ETF?
No. None of the four US-listed gaming ETFs comes from Vanguard. VanEck runs ESPO, Global X runs HERO, Amplify runs GAMR and Roundhill runs NERD, and their fees range from 0.50% to 0.59% a year. Despite the similar name, VanEck is a separate company from Vanguard.
How have gaming ETFs performed?
Gaming ETFs lost money over the year to October 27, 2026, but gained over three years. One-year returns ranged from a 4.8% loss for GAMR to a 15.9% loss for NERD. ESPO was down 14.1% and HERO 15.4%. Over three years they gained between 16.8% (HERO) and 27% (ESPO). Over five years ESPO was up 8.9% and GAMR 2%, while HERO and NERD were down 0.6% and 2.5%. Past returns do not predict future ones.
Is there a Vanguard, Fidelity or Schwab gaming ETF?
No. None of the three offers a gaming ETF. The largest gaming ETFs come from VanEck (ESPO), Global X (HERO) and Amplify (GAMR), and customers of all three firms can buy other companies’ ETFs in their brokerage accounts. For a broader fund, VGT (Vanguard Information Technology ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are covered in our technology ETF guide.
