HERO vs. ESPO

Last updated Jun 14, 2026

HERO (Global X Video Games & Esports ETF) and ESPO (VanEck Vectors Video Gaming and eSports ETF) are both Large Cap Growth Equities funds - HERO tracks the Solactive Video Games & Esports Index while ESPO tracks the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, HERO returned -4.76%/yr vs 5.49%/yr for ESPO. Their correlation of 0.88 suggests significant overlap in exposure. HERO charges 0.50%/yr vs 0.55%/yr for ESPO.

Performance

HERO vs. ESPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Video Games & Esports ETF (HERO) and VanEck Vectors 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, HERO achieves a -17.16% return, which is significantly lower than ESPO's -15.10% return.

HERO

• 1D: 0.30%
• 1M: -5.24%
• YTD: -17.16%
• 6M: -17.60%
• 1Y: -19.33%
• 3Y*: 7.42%
• 5Y*: -4.76%
• 10Y*: —

ESPO

• 1D: -0.29%
• 1M: -2.74%
• YTD: -15.10%
• 6M: -16.17%
• 1Y: -14.01%
• 3Y*: 16.96%
• 5Y*: 5.49%
• 10Y*: —

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

HERO vs. ESPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HERO Global X Video Games & Esports ETF	-17.16%	28.74%	17.65%	8.36%	-33.42%	-8.37%	91.02%	9.12%
ESPO VanEck Vectors Video Gaming and eSports ETF	-15.10%	25.79%	47.61%	33.64%	-34.71%	-2.13%	83.93%	11.29%

Correlation

The correlation between HERO and ESPO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.88

The correlation between HERO and ESPO has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

HERO vs. ESPO - Sectors Allocation Comparison

Sectors	HERO	ESPO
Communication Services	91.6%	29.4%
Technology	7.0%	56.2%
Industrials	1.5%	-
Basic Materials	-	-
Consumer Cyclical	-	14.2%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

HERO vs. ESPO — Risk / Return Rank

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

HERO

HERO Risk / Return Rank: 2
HERO Sharpe Ratio Rank: 1
HERO Sortino Ratio Rank: 2
HERO Omega Ratio Rank: 2
HERO Calmar Ratio Rank: 4
HERO Martin Ratio Rank: 3

ESPO

ESPO Risk / Return Rank: 4
ESPO Sharpe Ratio Rank: 3
ESPO Sortino Ratio Rank: 4
ESPO Omega Ratio Rank: 4
ESPO Calmar Ratio Rank: 5
ESPO Martin Ratio Rank: 5

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.

HERO vs. ESPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) and VanEck Vectors 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.

	HERO	ESPO	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	-0.80	-0.22
Sortino ratio: Return per unit of downside risk	-1.34	-1.02	-0.31
Omega ratio: Gain probability vs. loss probability	0.84	0.88	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.70	-0.54	-0.16
Martin ratio: Return relative to average drawdown	-1.33	-0.94	-0.39

HERO vs. ESPO - Sharpe Ratio Comparison

The current HERO Sharpe Ratio is -1.01, which is comparable to the ESPO Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of HERO 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

HERO vs. ESPO - Drawdown Comparison

The maximum HERO drawdown since its inception was -54.02%, which is greater than ESPO's maximum drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for HERO and ESPO.

Drawdown Indicators

	HERO	ESPO	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-50.99%	-3.03%
Max Drawdown (1Y) Largest decline over 1 year	-28.08%	-27.81%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-28.08%	-27.81%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-48.06%	-48.33%	+0.27%
Current Drawdown Current decline from peak	-30.29%	-27.19%	-3.10%
Average Drawdown Average peak-to-trough decline	-25.97%	-15.06%	-10.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.82%	15.95%	-1.13%

Volatility

HERO vs. ESPO - Volatility Comparison

Global X Video Games & Esports ETF (HERO) and VanEck Vectors Video Gaming and eSports ETF (ESPO) have volatilities of 4.45% and 4.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERO	ESPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	4.42%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	14.67%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	18.83%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.36%	25.10%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	25.71%	-1.25%

HERO vs. ESPO - Expense Ratio Comparison

HERO has a 0.50% expense ratio, which is lower than ESPO's 0.55% expense ratio.

Dividends

HERO vs. ESPO - Dividend Comparison

HERO's dividend yield for the trailing twelve months is around 1.96%, more than ESPO's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESPO VanEck Vectors Video Gaming and eSports ETF	1.47%	1.24%	0.44%	0.96%	0.91%	3.36%	0.12%	0.22%	0.04%
HERO Global X Video Games & Esports ETF	1.96%	1.62%	1.06%	0.73%	0.28%	0.79%	0.71%	0.17%	0.00%

Frequently Asked Questions

Can I hold both HERO and ESPO in my portfolio?

With a correlation of 0.90, HERO and ESPO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HERO or ESPO?

HERO has higher volatility (4.45%) compared to ESPO (4.42%). In terms of maximum drawdown, HERO dropped -54.02% vs ESPO's -50.99%.

Which ETF is better, HERO or ESPO?

On 5-year performance, ESPO leads with 5.49% vs -4.76% for HERO. On fees, HERO is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HERO or ESPO?

Over the 5-year period, ESPO has performed better with a 5.49% return vs -4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HERO or ESPO?

HERO is cheaper with a 0.50% expense ratio, compared with 0.55% for ESPO.

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

HERO has the higher dividend yield at 1.96%, compared with 1.47% for ESPO.

What is the main difference between HERO and ESPO?

HERO tracks Solactive Video Games & Esports Index, while ESPO tracks MVIS Global Video Gaming and eSports Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.50% for HERO and 0.55% for ESPO.

Which has better risk-adjusted returns?

ESPO currently has the higher Sharpe Ratio (-0.80 vs -1.01), 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.