The point is investors will not find many of GAMR’s holdings in traditional technology sector ETFs. As Bloomberg notes, there is scant overlap between the video game ETF and the Technology Select Sector SPDR (NYSEArca: XLK).

“Publishers of video games, makers of related accessories and peripherals as well as “large conglomerates whose business models actively support the video game, interactive training, or simulation segments” are eligible for inclusion in GAMR and its underlying index,” reports Benzinga.

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The FANG stocks — Facebook (NasdaqGS: FB), Amazon (NasdaqGS: AMZN), Netflix (NasdaqGS: NFLX) and Google or Alphabet (NasdaqGS: GOOG) – among others, drove technology ETFs higher last year and then proceeded to weigh on the sector early this year. Not surprisingly, the FANG quartet has helped lead the recent tech rebound. Those stocks don’t mean much to GAMR and that could be a good thing or bad thing depending on how the market is treating richly valued tech and Internet names at a particular time.

GAMR’s index offers “a good strategy for a growing industry like gaming. On the downside, however, GAMR is more expensive than ETFs that passively track an index—by a lot. GAMR’s expense ratio of 0.75 percent is quadruple the average asset-weighted fee for an equity ETF,” adds Bloomberg.