Global X became the third issuer behind Fidelity and First Trust in just over a week to launch a metaverse ETF, adding another competitor in an already packaged theme.

He Global X Metaverse ETF (VR) debuted on the Nasdaq on Thursday with an expense ratio of 0.50%.

VR uses an internal index containing companies that are considered to generate half of their revenue from augmented reality computing, social media platforms, or the hardware that underpins the metaverse’s digital infrastructure.

Companies that are diversified or non-revenue technology companies that are considered to have a significant amount of revenue from metaverse activities may also be included in the index.

The fund’s top holdings skew significantly towards video game companies, with Nintendo, South Korean game publisher Nexon, Take-Two Interactive and Zynga among its top 10 holdings. It owns 9.48% of its weight in Nintendo, giving the fund the largest company-weighted exposure among US-listed ETFs.

(Use our stock search tool to find an ETF’s allocation to a certain stock.)

VR released days after the First Trust Indxx Metaverse ETF (ARVR) and the Fidelity Metaverse ETF (FMET) debuted and is the seventh metaverse ETF to list in the US.

He Roundhill Ball Metaverse ETF (METV) it remains the largest ETF on the theme by assets, at nearly $640 million, due in part to its first-mover advantage in the space.

Contact Dan Mika at dan.mika@etf.comand follow him on Twitter

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