ESPO ETF

ESPO (VanEck Video Gaming and eSports ETF) is an exchange-traded fund that provides access to the world's leading video gaming and esports companies included in the MVIS Global Video Gaming and eSports Index, in a single investment.

The fund aims to track the performance of companies that develop, publish and support video games, grow esports and related technologies: game developers and publishers, gaming hardware makers, distribution platforms and online services, as well as game engine and infrastructure providers. A growing global player base, the rise of esports, cloud gaming and the adoption of AI in games make the video game industry one of the key areas of the digital economy.

ESPO launched in 2018 and is among the notable thematic ETFs in the video gaming and esports segment.

Sponsor of the Trust: Van Eck Associates Corporation (the VanEck brand) – one of the leading independent ETF providers in the US, managing a broad range of thematic and sector funds.

The fund is designed for investors who see the video gaming and esports industry as a long-term trend and prefer to access it in an exchange-traded, transparent and regulated format, without having to research and select individual companies themselves.

The fund trades on NASDAQ and is available to investors as a standard ETF.

What are you actually investing in?

By investing in ESPO, you invest in shares of leading public companies in the video gaming and esports industry included in the MVIS Global Video Gaming and eSports Index. The fund replicates the index, following its composition and weights.

An investor's return comes from two sources:

• growth in the market value of the shares held by the fund;
• dividends paid by these companies (small in the case of ESPO).

If the shares decline, the value of your holding falls and the result may be negative.

By buying ESPO, you are effectively investing in the business of the leading gaming companies – game developers and publishers, gaming platforms, online services and hardware makers that shape the global video gaming and esports market.

Index composition

The MVIS Global Video Gaming and eSports Index includes 30 companies worldwide, each generating at least 50% of its revenue from video gaming and esports.

• Game developers and publishers – companies that create and release video games for consoles, PC and mobile.
  Take-Two Interactive, Electronic Arts, Nintendo, NetEase, Capcom, Konami
• Gaming platforms and ecosystems – online platforms, distribution services and gaming ecosystems.
  Tencent, Roblox
• Game engines and technology – developers of game engines and creation tools.
  Unity Software
• Online games and esports – online game publishers and companies tied to esports.
  Nexon

Вес компаний в индексе определяется по рыночной капитализации с ограничением максимальной доли, что обеспечивает сбалансированную диверсификацию и снижает зависимость результата от отдельных компаний.

How the fund is structured

ESPO uses a classic ETF structure:

• the underlying shares are held within the fund's custodial infrastructure through licensed custodians;
• the fund's structure is fully transparent and disclosed regularly;
• the fund is overseen by US regulators and auditors.

ESPO is one of the well-known thematic ETFs in the video gaming and esports segment. The fund has around $228M in assets (as of June 2026), and regular trading on NASDAQ supports the liquidity of the position.

Fees and payouts

An investor's return comes from changes in the fund's market value and small dividend payouts. You buy a share of ESPO at the current price and sell it on exit – your return is determined by how the asset's value moves over the holding period.

Fund cost model:

• Total Expense Ratio (TER): 0.55% per year – the fee covers fund management and administration;
• ESPO's dividends are small; an investor's return comes mainly from changes in the market value of the shares held by the fund.

When buying ESPO through the Regolith platform, an entry fee of 2% of the transaction amount applies. Performance fee: 0%.

ESPO's role in an investment portfolio

ESPO is typically used as a thematic tool for adding video gaming and esports exposure to a portfolio. The fund can serve the following purposes:

• Participation in the growth of the gaming industry – the rise of esports, cloud gaming, mobile games and the adoption of AI support the sector's long-term growth.
• Thematic diversification – access to the world's leading video gaming and esports companies in a single instrument (Take-Two, Nintendo, Tencent, NetEase and others).
• An alternative to individual stocks – instead of buying Take-Two, Nintendo or Roblox shares separately, an investor gets a basket of industry leaders.
• A play on the GTA VI event – the release of Grand Theft Auto VI on November 19, 2026, according to analysts, could be the biggest game launch of the decade and a driver for the entire industry (Take-Two is one of the fund's largest holdings).
• Strengthening the technology allocation – combined with broad index ETFs (for example, SPY), it allows targeted exposure to the gaming segment.

Video gaming and esports: current context

The video game industry is one of the largest segments of the global entertainment market, yet it is cyclical and dependent on the release calendar. After a strong 2023 and 2024 (+33.6% and +47.6%), ESPO gained about +25.8% in 2025, while in the first half of 2026 it corrected by roughly −17% amid a weak game cycle and anticipation of major releases.

The main awaited event in the sector is the release of Grand Theft Auto VI on November 19, 2026. According to analysts, it could be the biggest game launch of the decade and give momentum to the entire industry, and Take-Two is among the fund's largest holdings.

An additional driver is the adoption of artificial intelligence in games. AI speeds up development, makes game worlds more interactive and opens up new formats. Together with the growth of cloud gaming, mobile games and esports, this shapes the sector's long-term potential.

At the same time, the industry remains volatile and sensitive to the success of individual releases, consumer spending and overall market conditions.

Risks

Investing in ESPO involves a number of factors typical of the gaming industry and the technology sector:

• High volatility – gaming stocks swing sharply; the fund itself has seen deep drawdowns (for example, −34.7% in 2022 and about −17% since the start of 2026).
• Dependence on releases – companies' results are largely driven by the success of individual games; delays or failures of major projects hit share prices.
• Valuation risk – amid interest in AI and GTA VI, some companies trade at elevated multiples, which increases the risk of a correction.
• Geographic concentration – a notable share of the fund is in Asian companies (China, Japan, South Korea), adding currency and regulatory risks, including the regulation of the gaming industry in China.
• Single-theme concentration – ESPO invests only in video gaming and esports, and top holdings account for a significant share of assets, which rules out diversification across sectors of the economy.

As an equity instrument, the fund is subject to market fluctuations and does not guarantee a positive result. An investor may lose part or all of the invested amount.

Instrument parameters

• Ticker: ESPO
• Type: video gaming and esports ETF
• Exchange: NASDAQ
• Index: MVIS Global Video Gaming and eSports Index
• Number of companies: fewer than 30
• AUM: ~$228M (as of June 2026)
• Expense Ratio: 0.55%
• ISIN: US92189F1140
• Launch date: October 16, 2018

ESPO pays small dividends (typically once a year). An investor's return comes mainly from changes in the fund's market value.

Deposits and withdrawals via Regolith

Buying ESPO through the Regolith platform is done on a working basis and is not tied to a fixed date. Trades are executed 1–3 times a week depending on market conditions and the platform's operating schedule.

• Minimum investment term – 1 week
• Minimum amount – $50
• Entry fee – 2%
• Performance fee – 0%

Withdrawals follow the platform's standard procedure once the minimum investment term is complete.

1. What is ESPO?

ESPO is an exchange-traded fund (ETF) that gives investors exposure to approximately 30 companies in the video gaming and esports industry through a single purchase. The fund provides access to one of the largest segments of the global entertainment market, supported by the growth of esports, cloud gaming and the integration of AI into game development.

2. Who manages the fund?

The fund is issued by VanEck (Van Eck Associates Corporation), one of the leading independent ETF providers in the United States, founded in 1955. VanEck is known for its thematic and sector ETFs, including funds focused on semiconductors (SMH) and gold miners (GDX).

3. What exactly am I investing in when I buy ESPO?

By purchasing ESPO, you invest in shares of companies across the gaming industry value chain: game developers and publishers, gaming platforms and online services, as well as companies involved in game engines and gaming hardware. This gives investors exposure to the combined performance of the global video gaming and esports sector.

4. Is this an actively managed fund?

No. ESPO is a passive index fund. It tracks the MVIS Global Video Gaming and eSports Index. The fund’s composition is reviewed according to the index methodology.

5. Which companies are included in the fund?

• Developers and publishers: NetEase (8.05%), Take-Two Interactive (6.89%), Nintendo (6.52%), Electronic Arts (6.41%), Capcom (4.52%), Bandai Namco (4.48%)
• Platforms and ecosystems: Roblox (7.04%), Tencent (6.93%)
• Technology and game engines: Unity (4.67%)
• Hardware and retail: Aristocrat Leisure (5.40%), GameStop (4.32%)

6. Does the fund’s composition change?

Yes. The fund’s composition is updated when the MVIS Global Video Gaming and eSports Index is rebalanced. Companies are added or removed based on the share of revenue they generate from video gaming and esports, which must be at least 50%, as well as market capitalization and liquidity.

7. What are the fund’s fees?

When purchasing ESPO through the Regolith platform:

• entry fee - 2%
• performance fee - 0%

The fund’s Total Expense Ratio (TER) is 0.55% per year.

8. What role does ESPO play in an investment portfolio?

ESPO is used as a thematic instrument for participating in the growth of the video gaming and esports industry. The fund allows investors to replace a single-stock bet with a diversified basket of leading sector players and add exposure to a technology-driven segment of the entertainment market.

9. Why is the video gaming industry considered a long-term trend?

Video gaming is one of the largest segments of the global entertainment industry, with a multibillion-user audience. The number of players continues to grow worldwide, while esports, cloud gaming and mobile gaming continue to develop. AI is accelerating game development and making virtual worlds more interactive. Major releases, such as Grand Theft Auto VI on November 19, 2026, can provide an additional catalyst for the broader industry.

10. What are the risks of investing in ESPO?

ESPO is highly volatile: the fund has experienced significant drawdowns, including -34.7% in 2022 and around -17% year-to-date in 2026. Company results often depend on the success of individual game releases. A meaningful share of the portfolio is allocated to Asian companies, including China, Japan and South Korea, which adds currency and regulatory risks, including gaming industry regulation in China. Some companies also trade at elevated multiples amid investor interest in AI and GTA VI.

11. How is ESPO different from HERO?

ESPO and HERO (Global X Video Games & Esports ETF) are two of the main ETFs focused on the gaming industry. ESPO is more concentrated in the largest developers and publishers, such as NetEase, Tencent, Take-Two and Nintendo. HERO typically includes more niche and pure-play gaming companies and is generally more evenly distributed. ESPO is a bet on the industry leaders, while HERO offers broader exposure to the gaming sector.

12. Where is ESPO traded?

The fund trades on NASDAQ in the United States. Assets under management (AUM) are approximately $228 million. ESPO is one of the most recognized ETFs focused on video gaming and esports.

13. How does the process of buying ESPO through Regolith work?

Purchases of ESPO through the Regolith platform are carried out in regular operating mode and are not tied to a fixed date. Transactions are formed 1-3 times per week. After an order is submitted, the funds are reserved, and the purchase is executed in the nearest available trading window at the actual transaction price.

14. What is the minimum investment period?

The minimum investment period is 1 week. After that, the investor may continue holding the position or exit the instrument without any platform-side fee.