ETF Evaluator: First Trust S-Network Strmng & Gmng ETF () Follow This ETF

First Trust S-Network Strmng & Gmng ETF Overview

First Trust S-Network Strmng & Gmng ETF (BNGE) is a passively managed Sector Equity Communications exchange-traded fund (ETF). First Trust launched the ETF in 2022.

The investment seeks investment results that correspond to the price and yield of the S-Network Streaming & Gaming Index. The fund will normally invest at least 80% of its net assets in the securities that comprise the index. The index is composed of common stock and depositary receipts issued by U.S. and non-U.S. companies that enable remote users to access online content; publish online content; participate in prospective wagering; spectate or participate in competitive video gaming; and that provide the products, services and technology that are necessary for the streaming and gaming industries. The fund is non-diversified.

About First Trust S-Network Strmng & Gmng ETF (BNGE)

There are 7 members of the management team with an average tenure of 4.52 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: S-Network Streaming & Gaming USD index with a weighting of 100% and MSCI ACWI NR USD index with a weighting of 100%. First Trust S-Network Strmng & Gmng ETF has 49 securities in its portfolio. The top 10 holdings constitute 45.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

First Trust S-Network Strmng & Gmng ETF is part of the Equity global asset class and is within the Sector Equity ETF group. First Trust S-Network Strmng & Gmng ETF has 47.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 52.4% There is 47.3% 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 S-Network Strmng & Gmng ETF has 0.3% of the portfolio in cash.

Assets Under Management

The fund has $4 million in total assets, which is below the $1 billion average for the Communications 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.

BNGE 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 S-Network Strmng & Gmng ETF expense ratio is above average compared to funds in the Communications category. First Trust S-Network Strmng & Gmng ETF has an expense ratio of 0.70%, which is 68% higher than its category average, making the fund expense ratio grade a F. 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 S-Network Strmng & Gmng ETF has a portfolio turnover rate of 27%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 36% for the Communications category.

Recently, in the month of July 2026, First Trust S-Network Strmng & Gmng ETF returned 3.3%, which earned it a grade of B, as the Communications category had an average return of 0.8%. 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 S-Network Strmng & Gmng ETF has a trailing yield of 0.38%, which is below the 0.95% 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 S-Network Strmng & Gmng ETF Grades

Year to date, the ETF has returned -15.5%, 11.4 percentage points worse than the category, which translates into a grade of F. The fund has returned -15.3% over the past year (grade of F) and 11.6% over the past three years (grade of C).

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