ETF Evaluator:
First Trust Indxx Metaverse ETF ()
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(as of Aug 24)
Best Performing in Technology Over the Last Year
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ETF Details
First Trust Indxx Metaverse ETF Overview
First Trust Indxx Metaverse ETF (ARVR) is a passively managed Sector Equity Technology exchange-traded fund (ETF). First Trust launched the ETF in 2022.
The investment seeks results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Indxx Metaverse Index (the “Index”).
Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the securities that comprise the index. The index is comprised of companies that provide services and products that support the infrastructure and applications of the Metaverse.
About First Trust Indxx Metaverse ETF (ARVR)
There are 7 members of the management team with an average tenure of 4.28 years: Daniel Lindquist (2022), Jon Erickson (2022), David McGarel (2022), Stan Ueland (2022), Chris Peterson (2022), Erik Russo (2022) and Roger Testin (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Indxx Metaverse USD index with a weighting of 100%. First Trust Indxx Metaverse ETF has 44 securities in its portfolio. The top 10 holdings constitute 34.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
First Trust Indxx Metaverse ETF is part of the Equity global asset class and is within the Sector Equity ETF group. First Trust Indxx Metaverse ETF has 40.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 59.4% There is 40.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). First Trust Indxx Metaverse ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $5 million in total assets, which is below the $3 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ARVR Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The First Trust Indxx Metaverse ETF expense ratio is above average compared to funds in the Technology category. First Trust Indxx Metaverse ETF has an expense ratio of 0.70%, which is 30% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. First Trust Indxx Metaverse ETF has a portfolio turnover rate of 51%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 39% for the Technology category.
Recently, in the month of July 2026, First Trust Indxx Metaverse ETF returned -5.1%, which earned it a grade of B, as the Technology category had an average return of -9.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
First Trust Indxx Metaverse ETF has a trailing yield of 0.69%, which is above the 0.45% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
First Trust Indxx Metaverse ETF Grades
Year to date, the ETF has returned 9.9%, 11.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.8% over the past year (grade of D) and 18.1% over the past three years (grade of D).
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ARVR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ARVR Return (NAV) | -5.1% | 3.5% | 16.8% | 18.1% | na | na |
| ARVR Return (Price) | -5.9% | 4.0% | 14.0% | 18.4% | na | na |
| NAV +/- Price Return | 0.746% | -0.479% | 2.793% | -0.243% | na | na |
| Technology Avg | -9.8% | 7.3% | 33.6% | 22.3% | 10.5% | 19.0% |
| ARVR Grade (NAV) | B | D | D | D | na | na |
| +/- Category (NAV) | 4.7% | -3.8% | -16.8% | -4.2% | na | na |
| ARVR Tax-Cost Ratio | na | na | 0.2% | 0.2% | na | na |
ARVR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ARVR Return (NAV) | 9.9% | 28.7% | 10.5% | 42.5% | na | na | na | na | na | na | na |
| ARVR Return (Price) | 9.9% | 29.8% | 10.1% | 43.4% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.006% | 0.041% | -0.034% | 0.020% | na | na | na | na | na | na | na |
| Technology Avg | 21.3% | 23.2% | 19.9% | 43.8% | -35.8% | 16.7% | 53.3% | 37.8% | -3.2% | 33.7% | 15.0% |
| ARVR Grade (NAV) | D | B | D | C | na | na | na | na | na | na | na |
| +/- Category | -11.4% | 5.4% | -9.5% | -1.2% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.35 |
| R-Squared: | 75% |
| Standard Deviation: | 19.7% |
| Category Risk Index: | 0.74 |
| Category Risk Rating: | Low |
| Total Risk Index: | 1.60 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.7% |
| Total Assets: | $ 5 Mil |
| Share Class Assets: | $ 5 Mil |
| Turnover: | 51.0% |
| Expense Ratio: | 0.70% |
| Index Fund: | Yes |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 7 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Lindquist Daniel (2022), Erickson Jon (2022), McGarel David (2022), Ueland Stan (2022), Peterson Chris (2022), Russo Erik (2022), Testin Roger (2022) | |||
Portfolio Composition (as of 7/30/26)
| # of Holdings: | 44 |
| % in Top 10 Holdings: | 34.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 40.4% |
Portfolio Allocation |
|
| Domestic Stock: | 59.4% |
| Foreign Stock: | 40.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | First Trust |
| Phone Number: | 800-621-1675 |
| Website: | www.ftportfolios.com |
| Inception Date: | April 19, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.70% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.54% |
