BNGE vs. CHAT

Last updated Jun 4, 2026

BNGE (First Trust S-Network Streaming and Gaming ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both Technology Equities funds. BNGE is passively managed, while CHAT is actively managed. Over the past 3 years, BNGE returned 13.39%/yr vs 55.51%/yr for CHAT. A 0.71 correlation means they provide meaningful diversification when combined. BNGE charges 0.70%/yr vs 0.75%/yr for CHAT.

Performance

BNGE vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S-Network Streaming and Gaming ETF (BNGE) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNGE achieves a -18.00% return, which is significantly lower than CHAT's 74.30% return.

BNGE

• 1D: -1.95%
• 1M: 0.12%
• YTD: -18.00%
• 6M: -18.35%
• 1Y: -6.57%
• 3Y*: 13.39%
• 5Y*: —
• 10Y*: —

CHAT

• 1D: -0.66%
• 1M: 27.78%
• YTD: 74.30%
• 6M: 73.13%
• 1Y: 144.01%
• 3Y*: 55.51%
• 5Y*: —
• 10Y*: —

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

BNGE vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BNGE First Trust S-Network Streaming and Gaming ETF	-18.00%	35.18%	19.23%	12.41%
CHAT Roundhill Generative AI & Technology ETF	74.30%	49.85%	30.98%	19.23%

Correlation

The correlation between BNGE and CHAT is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 19, 2023	0.71

The correlation between BNGE and CHAT shifts across timeframes, from 0.55 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

BNGE vs. CHAT - Sectors Allocation Comparison

Sectors	BNGE	CHAT
Communication Services	66.2%	16.6%
Consumer Cyclical	26.7%	5.6%
Technology	7.1%	76.5%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Healthcare	-	-
Industrials	-	0.8%
Real Estate	-	-
Utilities	-	-

Return for Risk

BNGE vs. CHAT — Risk / Return Rank

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

BNGE

BNGE Risk / Return Rank: 6
BNGE Sharpe Ratio Rank: 5
BNGE Sortino Ratio Rank: 5
BNGE Omega Ratio Rank: 5
BNGE Calmar Ratio Rank: 7
BNGE Martin Ratio Rank: 7

CHAT

CHAT Risk / Return Rank: 94
CHAT Sharpe Ratio Rank: 97
CHAT Sortino Ratio Rank: 94
CHAT Omega Ratio Rank: 93
CHAT Calmar Ratio Rank: 96
CHAT Martin Ratio Rank: 94

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.

BNGE vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Streaming and Gaming ETF (BNGE) and Roundhill Generative AI & Technology ETF (CHAT). 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.

	BNGE	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	4.72	-5.09
Sortino ratio: Return per unit of downside risk	-0.40	4.86	-5.26
Omega ratio: Gain probability vs. loss probability	0.95	1.65	-0.70
Calmar ratio: Return relative to maximum drawdown	-0.24	8.90	-9.13
Martin ratio: Return relative to average drawdown	-0.47	26.26	-26.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNGE vs. CHAT - Sharpe Ratio Comparison

The current BNGE Sharpe Ratio is -0.37, which is lower than the CHAT Sharpe Ratio of 4.72. The chart below compares the historical Sharpe Ratios of BNGE and CHAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BNGE	CHAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	4.72	-5.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.98	-1.74

Drawdowns

BNGE vs. CHAT - Drawdown Comparison

The maximum BNGE drawdown since its inception was -40.54%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for BNGE and CHAT.

Drawdown Indicators

	BNGE	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-40.54%	-31.34%	-9.20%
Max Drawdown (1Y) Largest decline over 1 year	-27.88%	-16.28%	-11.60%
Max Drawdown (3Y) Largest decline over 3 years	-27.88%	-31.34%	+3.46%
Current Drawdown Current decline from peak	-24.44%	-0.66%	-23.78%
Average Drawdown Average peak-to-trough decline	-13.82%	-5.35%	-8.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.00%	5.51%	+8.49%

Volatility

BNGE vs. CHAT - Volatility Comparison

The current volatility for First Trust S-Network Streaming and Gaming ETF (BNGE) is 4.26%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 11.70%. This indicates that BNGE experiences smaller price fluctuations and is considered to be less risky than CHAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNGE	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	11.70%	-7.44%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	24.62%	-11.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	30.74%	-12.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	29.90%	-4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.18%	29.90%	-4.72%

BNGE vs. CHAT - Expense Ratio Comparison

BNGE has a 0.70% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

BNGE vs. CHAT - Dividend Comparison

BNGE's dividend yield for the trailing twelve months is around 1.08%, less than CHAT's 1.64% yield.

Position	TTM	2025	2024	2023	2022
BNGE First Trust S-Network Streaming and Gaming ETF	1.08%	0.89%	0.01%	0.81%	0.59%
CHAT Roundhill Generative AI & Technology ETF	1.64%	2.85%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNGE and CHAT in my portfolio?

BNGE and CHAT have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNGE or CHAT?

CHAT has higher volatility (11.70%) compared to BNGE (4.26%). In terms of maximum drawdown, BNGE dropped -40.54% vs CHAT's -31.34%.

Which ETF is better, BNGE or CHAT?

On 3-year performance, CHAT leads with 55.51% vs 13.39% for BNGE. On fees, BNGE is cheaper at 0.70% per year. On volatility, BNGE has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNGE or CHAT?

Over the 3-year period, CHAT has performed better with a 55.51% return vs 13.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNGE or CHAT?

BNGE is cheaper with a 0.70% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, BNGE or CHAT?

CHAT has the higher dividend yield at 1.64%, compared with 1.08% for BNGE.

What is the main difference between BNGE and CHAT?

They also come from different issuers: First Trust and Roundhill. Their fees differ too: 0.70% for BNGE and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (4.72 vs -0.37), 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.