BETZ vs. ESPO

Last updated Jun 24, 2026

BETZ (Roundhill Sports Betting & iGaming ETF) and ESPO (VanEck Video Gaming and eSports ETF) are both exchange-traded funds - BETZ is a Consumer Discretionary Equities fund tracking the Roundhill Sports Betting & iGaming Index, while ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, BETZ returned -8.72%/yr vs 5.31%/yr for ESPO. A 0.64 correlation means they provide meaningful diversification when combined. BETZ charges 0.75%/yr vs 0.55%/yr for ESPO.

Performance

BETZ vs. ESPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Sports Betting & iGaming ETF (BETZ) and VanEck Video Gaming and eSports ETF (ESPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETZ achieves a -10.44% return, which is significantly higher than ESPO's -16.33% return.

BETZ

• 1D: -2.39%
• 1M: 1.93%
• YTD: -10.44%
• 6M: -10.50%
• 1Y: -12.49%
• 3Y*: 5.42%
• 5Y*: -8.72%
• 10Y*: —

ESPO

• 1D: -0.79%
• 1M: -2.71%
• YTD: -16.33%
• 6M: -16.76%
• 1Y: -16.63%
• 3Y*: 17.97%
• 5Y*: 5.31%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BETZ vs. ESPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BETZ Roundhill Sports Betting & iGaming ETF	-10.44%	15.75%	10.22%	21.17%	-42.02%	-3.91%	65.99%
ESPO VanEck Video Gaming and eSports ETF	-16.33%	25.79%	47.61%	33.64%	-34.71%	-2.13%	45.58%

Correlation

The correlation between BETZ and ESPO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.64

The correlation between BETZ and ESPO shifts across timeframes, from 0.49 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

BETZ vs. ESPO - Sectors Allocation Comparison

Sectors	BETZ	ESPO
Consumer Cyclical	96.0%	14.3%
Technology	2.9%	55.8%
Communication Services	1.1%	29.7%
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BETZ vs. ESPO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETZ

BETZ Risk / Return Rank: 5
BETZ Sharpe Ratio Rank: 4
BETZ Sortino Ratio Rank: 4
BETZ Omega Ratio Rank: 4
BETZ Calmar Ratio Rank: 5
BETZ Martin Ratio Rank: 6

ESPO

ESPO Risk / Return Rank: 3
ESPO Sharpe Ratio Rank: 2
ESPO Sortino Ratio Rank: 2
ESPO Omega Ratio Rank: 2
ESPO Calmar Ratio Rank: 4
ESPO Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BETZ vs. ESPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Sports Betting & iGaming ETF (BETZ) and VanEck Video Gaming and eSports ETF (ESPO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BETZ	ESPO	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.90	+0.29
Sortino ratio: Return per unit of downside risk	-0.74	-1.17	+0.43
Omega ratio: Gain probability vs. loss probability	0.92	0.86	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.43	-0.59	+0.16
Martin ratio: Return relative to average drawdown	-0.71	-1.01	+0.30

BETZ vs. ESPO - Sharpe Ratio Comparison

The current BETZ Sharpe Ratio is -0.60, which is higher than the ESPO Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of BETZ and ESPO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETZ vs. ESPO - Drawdown Comparison

The maximum BETZ drawdown since its inception was -60.82%, which is greater than ESPO's maximum drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for BETZ and ESPO.

Drawdown Indicators

	BETZ	ESPO	Difference
Max Drawdown Largest peak-to-trough decline	-60.82%	-50.99%	-9.83%
Max Drawdown (1Y) Largest decline over 1 year	-29.20%	-28.25%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-29.20%	-28.25%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-59.79%	-48.33%	-11.46%
Current Drawdown Current decline from peak	-39.41%	-28.25%	-11.16%
Average Drawdown Average peak-to-trough decline	-33.82%	-15.10%	-18.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.59%	16.49%	+1.10%

Volatility

BETZ vs. ESPO - Volatility Comparison

Roundhill Sports Betting & iGaming ETF (BETZ) has a higher volatility of 6.83% compared to VanEck Video Gaming and eSports ETF (ESPO) at 4.23%. This indicates that BETZ's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETZ	ESPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	4.23%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	16.62%	14.64%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	20.78%	18.65%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.00%	25.09%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.95%	25.68%	+2.27%

BETZ vs. ESPO - Expense Ratio Comparison

BETZ has a 0.75% expense ratio, which is higher than ESPO's 0.55% expense ratio.

Dividends

BETZ vs. ESPO - Dividend Comparison

BETZ's dividend yield for the trailing twelve months is around 5.11%, more than ESPO's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BETZ Roundhill Sports Betting & iGaming ETF	5.11%	4.57%	0.86%	0.00%	0.66%	0.00%	0.28%	0.00%	0.00%
ESPO VanEck Video Gaming and eSports ETF	1.49%	1.24%	0.44%	0.96%	0.91%	3.36%	0.12%	0.22%	0.04%

Frequently Asked Questions

Can I hold both BETZ and ESPO in my portfolio?

BETZ and ESPO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETZ or ESPO?

BETZ has higher volatility (6.83%) compared to ESPO (4.23%). In terms of maximum drawdown, BETZ dropped -60.82% vs ESPO's -50.99%.

Which ETF is better, BETZ or ESPO?

On 5-year performance, ESPO leads with 5.31% vs -8.72% for BETZ. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETZ or ESPO?

Over the 5-year period, ESPO has performed better with a 5.31% return vs -8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETZ or ESPO?

ESPO is cheaper with a 0.55% expense ratio, compared with 0.75% for BETZ.

Which ETF pays a higher dividend yield, BETZ or ESPO?

BETZ has the higher dividend yield at 5.11%, compared with 1.49% for ESPO.

What is the main difference between BETZ and ESPO?

BETZ is categorized as Consumer Discretionary Equities, while ESPO is Gaming. BETZ tracks Roundhill Sports Betting & iGaming Index, while ESPO tracks MVIS Global Video Gaming and eSports Index. They also come from different issuers: Roundhill Investments and VanEck. Their fees differ too: 0.75% for BETZ and 0.55% for ESPO.

Which has better risk-adjusted returns?

BETZ currently has the higher Sharpe Ratio (-0.60 vs -0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.