What are streaming & digital entertainment ETFs?
Streaming and digital entertainment ETFs own companies that make money from entertainment delivered online. That includes video games, streaming platforms, online betting and app-based services. Video game companies are what most of these funds have in common. Take-Two Interactive and Roblox appear in all three funds, at median weights of 4.68% and 4.42%. Electronic Arts and DraftKings each appear in two of the three.
All three are index funds, which means they follow a published list of stocks instead of a manager's picks. None uses leverage, inverse bets or options. What sets them apart is their index. BNGE, from First Trust, tracks the S-Network Streaming & Gaming Index across 46 stocks, led by Aristocrat Leisure, Take-Two, NetEase and Roku. ODDS, from Pacer, tracks the BlueStar Global Online Gambling, Video Gaming, and eSports Index, with Tencent, Evolution AB, Flutter Entertainment and DraftKings at the top. OND, from ProShares, tracks the FactSet On-Demand Index. It holds just 27 stocks and reaches beyond entertainment into DoorDash, Spotify, NVIDIA, Uber and Grab.
Expense ratios, the yearly fee taken from a fund's assets, run from 0.49% for ODDS to 0.70% for BNGE. OND sits at the group's median of 0.58%.
The group is tiny. With only three funds, 100% of its roughly $11.3 million in assets sits in BNGE (about $4.6 million), ODDS ($4.0 million) and OND ($2.6 million). Each fund keeps roughly half its money in its 10 largest positions, from 47.4% at BNGE to 53.94% at ODDS.
Streaming & digital entertainment ETF holdings: the stocks most funds own
The stocks that show up most often among the largest positions of the 3 biggest streaming & digital entertainment ETFs with holdings reports, from their latest N-PORT filings.
| Stock | Funds holding it | Typical weight |
|---|---|---|
| Take-two Interactive Software Inc | 3 of 3 | 4.68% |
| Roblox Corp | 3 of 3 | 4.42% |
| Electronic Arts Inc | 2 of 3 | 3.58% |
| Draftkings Inc | 2 of 3 | 3.21% |
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 streaming & digital entertainment ETFs, side by side
Swipe the table to see all 3 funds.
| BNGE | ODDS | OND | |
|---|---|---|---|
| Net assets | $4.6M | $4.0M | $2.6M |
| Expense ratio | 0.7% | 0.49% | 0.58% |
| Holdings | 46 | 41 | 27 |
| In the 10 largest | 47.4% | 53.94% | 49.5% |
| Biggest holding | Aristocrat Leisure Ltd (5.68%) | Tencent Holdings Ltd (8.22%) | DoorDash, Inc. (6.76%) |
| Yield | 0.38% | 0.8% | 0% |
| 1-year return | -20.8% | -25.8% | -28.8% |
| 3 years, a year | +17.2% | +12.7% | +17.4% |
| 5 years, a year | — | — | — |
| Worst drop, past year | -26.0% | -29.3% | -31.3% |
| Launched | 2022 | 2022 | 2021 |
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
BNGE vs ODDS
BNGE (First Trust) holds 46 stocks, with 47.4% in its top 10 and Aristocrat Leisure largest at 5.68%. ODDS (Pacer) holds 41 and is more concentrated: 53.94% in its top 10, led by Tencent at 8.22%. They share 23 holdings, about 42.3% of assets, the highest overlap of any pair. ODDS costs 0.49% a year, BNGE 0.70%. As of October 27, 2026, BNGE lost 20.8% over one year and ODDS 25.8%, with worst drops of 26% and 29.3%. ODDS may suit investors wanting more betting exposure; BNGE, those wanting game publishers and streaming together.
ODDS vs OND
They overlap least of any pair: 9 shared holdings, about 14.7% of assets. ODDS tracks a global index of online gambling, video gaming and eSports, with 53.94% in its top 10, led by Tencent at 8.22%. OND tracks on-demand companies like DoorDash, Spotify and Uber, with 49.5% in its top 10. ODDS costs 0.49% a year, OND 0.58%. As of October 27, 2026, ODDS lost 25.8% over one year and OND 28.8%, with worst drops of 29.3% and 31.3%. ODDS may suit those focused on betting and gaming; OND, those wanting a wider mix of app-based services.
BNGE vs OND
BNGE holds 46 stocks centered on games and streaming, with 47.4% in its top 10 and Aristocrat Leisure largest at 5.68%. OND holds 27 and reaches beyond entertainment; DoorDash leads at 6.76%, and its top 10 hold 49.5%. They share 10 holdings, about 26.1% of assets. OND costs 0.58% a year, BNGE 0.70%. As of October 27, 2026, OND lost 28.8% over one year and BNGE 20.8%, with worst drops of 31.3% and 26%. Three-year returns were close: 17.4% and 17.2%. OND may suit investors wanting app-based services broadly; BNGE stays nearer entertainment.
How much do the largest streaming & digital entertainment 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.
From each fund’s full holdings in its latest N-PORT report.
How have streaming & digital entertainment 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).
How streaming & digital entertainment ETFs did in past market crashes
| Fund | 2008 crash | 2020 crash | 2022 drop |
|---|---|---|---|
| BNGE | not yet launched | not yet launched | not yet launched |
| ODDS | not yet launched | not yet launched | not yet launched |
| OND | not yet launched | not yet launched | -49.4% |
| 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 streaming & digital entertainment ETFs?
These companies depend on discretionary spending. That is the money people put toward games, in-app purchases, subscriptions and bets after essentials are paid for. When household budgets tighten, that spending can shrink quickly. Game publishers such as Take-Two and Electronic Arts also depend on hit releases, so a delayed or weak title can move the stock sharply. Betting companies held by ODDS, such as Flutter Entertainment and DraftKings, depend on regulation: where online betting is legal and how it is taxed. Many of these are also growth stocks, priced on profits expected years ahead. Rising interest rates tend to lower what investors will pay for that kind of stock.
These forces show up in the funds' results. OND is the only one with a figure for the full 2022 bear market. It fell 49.4%, far more than the S&P 500's 24.5% decline. BNGE and ODDS launched during 2022. None of the three existed in the 2008 financial crisis or the 2020 COVID crash, when the S&P 500 fell 55.2% and 33.7%. In the year to October 27, 2026, the three funds lost between 20.8% (BNGE) and 28.8% (OND).
Do streaming & digital entertainment ETFs pay dividends?
2 of the 3 ordinary streaming & digital entertainment ETFs with a page here paid distributions over the last 12 months, with a median yield of 0.38%.
How to choose a streaming & digital entertainment ETF
- Yearly cost: 0.49% to 0.70%. ODDS charges 0.49% a year, OND 0.58% and BNGE 0.70%. The fee comes out of fund assets every year. Over a long holding period, a lower fee leaves the investor with more of the stocks' return.
- What each index actually targets. BNGE's index blends streaming and gaming, with Roku and Take-Two near the top. ODDS's global index centers on online gambling, video games and eSports. OND's on-demand index adds DoorDash, Uber and NVIDIA.
- Number of holdings and concentration. OND holds 27 stocks, ODDS 41 and BNGE 46. ODDS is the most concentrated, with 53.94% in its top 10 and 8.22% in Tencent alone. BNGE is the most spread out, at 47.4%.
- Overlap if owning more than one. BNGE and ODDS share 23 holdings, about 42.3% of assets, so owning both repeats many of the same bets. ODDS and OND overlap by only 14.7%, and BNGE and OND by 26.1%.
- Fund size and trading costs. All three are small: BNGE has about $4.6 million in net assets, ODDS $4.0 million and OND $2.6 million. Funds this size can have wider bid-ask spreads (a bigger gap between quoted trading prices) and a higher chance of closing.
- All plain index funds, no leverage. None of the three uses leverage, inverse bets or options for income. Each simply tracks its index. Differences in results come down to which stocks each index holds and how much of each.
What are the risks of streaming & digital entertainment ETFs?
- Steep swings and deep drops. As of October 27, 2026, one-year volatility (how widely prices swing) ran from 18.2% to 22.3%, and the funds' worst drops were 26% to 31.3%. OND lost 49.4% in the 2022 bear market, versus 24.5% for the S&P 500.
- Half the money in ten stocks. Each fund's 10 largest holdings make up 47.4% to 53.94% of assets. ODDS alone has 8.22% in Tencent and 8.06% in Evolution AB, so trouble at one or two companies can move the whole fund.
- The same game stocks everywhere. Take-Two and Roblox sit in all three funds, and Electronic Arts and DraftKings in two. A weak game release or a slowdown in player spending at these companies can hit every fund in the group at once.
- Betting rules can change fast. ODDS's largest holdings include Evolution AB, Flutter Entertainment and DraftKings. Changes to where online betting is legal, or how heavily it is taxed, can cut these companies' profits quickly. DraftKings also appears in a second fund.
- Very small funds can close. The three funds hold about $11.3 million combined, and OND has about $2.6 million. Issuers sometimes close funds this small and return cash to shareholders. That can create an unplanned taxable gain in a regular brokerage account.
List of all streaming & digital entertainment ETFs, by size
Questions investors ask about streaming & digital entertainment ETFs
What is the largest streaming ETF?
BNGE, the First Trust S-Network Streaming and Gaming ETF, is the largest, with about $4.6 million in net assets. ODDS from Pacer follows with about $4.0 million, and OND from ProShares has about $2.6 million. All three are very small by ETF standards. That can mean wider bid-ask spreads and a higher chance that the issuer closes the fund.
What is the cheapest streaming ETF?
ODDS has the lowest expense ratio, at 0.49% a year. An expense ratio is the annual fee taken from a fund's assets. OND charges 0.58% and BNGE 0.70%. Cost is only one difference. ODDS leans toward online betting and gaming, while OND reaches into on-demand services, so the cheapest fund is not a like-for-like swap for the others.
BNGE vs ODDS: what's the difference?
The main difference is focus: ODDS leans more toward online gambling. BNGE tracks the S-Network Streaming & Gaming Index and holds 46 stocks, led by Aristocrat Leisure, Take-Two and NetEase. ODDS tracks the BlueStar Global Online Gambling, Video Gaming, and eSports Index and holds 41, led by Tencent, Evolution AB and Flutter Entertainment. About 42.3% of their assets overlap. ODDS costs 0.49% a year versus 0.70% for BNGE. As of October 27, 2026, BNGE lost 20.8% over one year and ODDS 25.8%.
Do streaming ETFs pay dividends?
Two of the three do, but the payouts are small. As of October 27, 2026, ODDS yielded 0.8% and BNGE 0.38%, while OND paid nothing. Game, streaming and app companies often reinvest their profits instead of paying large dividends. Returns from these funds therefore depend mostly on share prices rather than income.
Which ETFs hold Roblox and Take-Two?
All three do. Take-Two Interactive and Roblox appear in BNGE, ODDS and OND, at median weights of 4.68% and 4.42%. Take-Two is BNGE's second-largest holding at 5.66%. Electronic Arts and DraftKings each show up in two of the three funds. Because these names repeat, owning more than one of these ETFs adds less variety than it might seem.
How many streaming ETFs are there?
There are three US-listed ETFs in this group: BNGE from First Trust, ODDS from Pacer and OND from ProShares. All launched between October 2021 and April 2022, and all track an index. None is leveraged or inverse, and none uses options. Together they hold about $11.3 million, so each fund is small by ETF standards.
How to invest in online gambling with an ETF?
Of these three funds, ODDS focuses most directly on online gambling. It tracks the BlueStar Global Online Gambling, Video Gaming, and eSports Index. Its largest holdings include Evolution AB at 8.06%, Flutter Entertainment at 7.45% and DraftKings at 6.57%, alongside game companies such as Tencent and NetEase. DraftKings also appears in one other fund here. Gambling stocks can react sharply to changes in betting laws and taxes.
How have streaming ETFs performed?
All three lost money in the year to October 27, 2026, but were up over three years. One-year returns were -20.8% for BNGE, -25.8% for ODDS and -28.8% for OND. Three-year returns were 17.2%, 12.7% and 17.4%. In the 2022 bear market, OND fell 49.4% while the S&P 500 fell 24.5%. Past returns don't predict future results.
Is there a Vanguard, Fidelity or Schwab streaming & digital entertainment ETF?
No. None of the three offers a streaming & digital entertainment ETF. The largest streaming & digital entertainment ETFs come from First Trust (BNGE), Pacer (ODDS) and ProShares (OND), and customers of all three firms can buy other companies’ ETFs in their brokerage accounts.
