BNGE vs. NERD

Last updated Jun 4, 2026

BNGE (First Trust S-Network Streaming and Gaming ETF) and NERD (Roundhill Video Games ETF) are both exchange-traded funds - BNGE is a Technology Equities fund tracking the S-Network Streaming & Gaming Index, while NERD is a Gaming fund actively managed by Roundhill Investments. BNGE is passively managed, while NERD is actively managed. Over the past 3 years, BNGE returned 13.39%/yr vs 10.64%/yr for NERD. Their correlation of 0.83 suggests significant overlap in exposure. BNGE charges 0.70%/yr vs 0.50%/yr for NERD.

Performance

BNGE vs. NERD - 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 Video Games ETF (NERD). 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 NERD's -16.00% return.

BNGE

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

NERD

• 1D: -2.22%
• 1M: -3.36%
• YTD: -16.00%
• 6M: -19.58%
• 1Y: -17.66%
• 3Y*: 10.64%
• 5Y*: -7.79%
• 10Y*: —

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

BNGE vs. NERD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BNGE First Trust S-Network Streaming and Gaming ETF	-18.00%	35.18%	19.23%	37.21%	-28.77%
NERD Roundhill Video Games ETF	-16.00%	23.14%	28.52%	12.94%	-37.41%

Correlation

The correlation between BNGE and NERD is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022	0.83

The correlation between BNGE and NERD has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

BNGE vs. NERD - Sectors Allocation Comparison

Sectors	BNGE	NERD
Communication Services	66.2%	91.1%
Consumer Cyclical	26.7%	3.9%
Technology	7.1%	3.9%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Healthcare	-	-
Industrials	-	1.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

BNGE vs. NERD — 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

NERD

NERD Risk / Return Rank: 3
NERD Sharpe Ratio Rank: 2
NERD Sortino Ratio Rank: 2
NERD Omega Ratio Rank: 2
NERD Calmar Ratio Rank: 4
NERD 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.

BNGE vs. NERD - 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 Video Games ETF (NERD). 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	NERD	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	-0.89	+0.53
Sortino ratio: Return per unit of downside risk	-0.40	-1.18	+0.78
Omega ratio: Gain probability vs. loss probability	0.95	0.86	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.24	-0.60	+0.36
Martin ratio: Return relative to average drawdown	-0.47	-1.06	+0.59
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. NERD - Sharpe Ratio Comparison

The current BNGE Sharpe Ratio is -0.37, which is higher than the NERD Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of BNGE and NERD, 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	NERD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	-0.89	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.20	+0.04

Drawdowns

BNGE vs. NERD - Drawdown Comparison

The maximum BNGE drawdown since its inception was -40.54%, smaller than the maximum NERD drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for BNGE and NERD.

Drawdown Indicators

	BNGE	NERD	Difference
Max Drawdown Largest peak-to-trough decline	-40.54%	-65.58%	+25.04%
Max Drawdown (1Y) Largest decline over 1 year	-27.88%	-29.67%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-27.88%	-29.67%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-58.92%	—
Current Drawdown Current decline from peak	-24.44%	-45.51%	+21.07%
Average Drawdown Average peak-to-trough decline	-13.82%	-35.89%	+22.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.00%	16.75%	-2.75%

Volatility

BNGE vs. NERD - Volatility Comparison

First Trust S-Network Streaming and Gaming ETF (BNGE) has a higher volatility of 4.26% compared to Roundhill Video Games ETF (NERD) at 3.89%. This indicates that BNGE's price experiences larger fluctuations and is considered to be riskier than NERD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNGE	NERD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	3.89%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	14.85%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	19.81%	-1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	24.51%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.18%	25.53%	-0.35%

BNGE vs. NERD - Expense Ratio Comparison

BNGE has a 0.70% expense ratio, which is higher than NERD's 0.50% expense ratio.

Dividends

BNGE vs. NERD - Dividend Comparison

BNGE's dividend yield for the trailing twelve months is around 1.08%, more than NERD's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BNGE First Trust S-Network Streaming and Gaming ETF	1.08%	0.89%	0.01%	0.81%	0.59%	0.00%	0.00%	0.00%
NERD Roundhill Video Games ETF	0.75%	0.63%	1.74%	1.07%	0.69%	0.02%	1.05%	0.31%

Frequently Asked Questions

Can I hold both BNGE and NERD in my portfolio?

BNGE and NERD have a correlation of 0.79, 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 NERD?

BNGE has higher volatility (4.26%) compared to NERD (3.89%). In terms of maximum drawdown, BNGE dropped -40.54% vs NERD's -65.58%.

Which ETF is better, BNGE or NERD?

On 3-year performance, BNGE leads with 13.39% vs 10.64% for NERD. On fees, NERD is cheaper at 0.50% per year. On volatility, NERD has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNGE or NERD?

Over the 3-year period, BNGE has performed better with a 13.39% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNGE or NERD?

NERD is cheaper with a 0.50% expense ratio, compared with 0.70% for BNGE.

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

BNGE has the higher dividend yield at 1.08%, compared with 0.75% for NERD.

What is the main difference between BNGE and NERD?

BNGE is categorized as Technology Equities, while NERD is Gaming. They also come from different issuers: First Trust and Roundhill Investments. Their fees differ too: 0.70% for BNGE and 0.50% for NERD.

Which has better risk-adjusted returns?

BNGE currently has the higher Sharpe Ratio (-0.37 vs -0.89), 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.