Trackinsight: Metaverse ETF Universe expands with double Canadian launch

November 30, 2021 at 09:30 am EST

Metaverse ETFs global line up expands with the launch of Horizons Global Metaverse Index ETF (MTAV) and Evolve Metaverse ETF (MESH).

Metaverse ETFs global line up expands with the launch of Horizons Global Metaverse Index ETF (MTAV) and Evolve Metaverse ETF (MESH). MTAV and MESH are tied for first Canadian Metaverse ETFs and third globally after Roundhill Ball Metaverse ETF (META) and Fount Metaverse ETF (MTVR).

The Metaverse is a term used to describe a virtual space within digital spaces such as online games, social media, and virtual reality. It is a combination of the prefix "meta", meaning beyond, and stem "universe". It was first mentioned by Neal Stephenson in his 1992 "Snow Crash", a novel about a hacker and mafia pizza delivery man by day, VR superhero by night, who lives in an online universe called The Metaverse. The Metaverse is where people can hang out with friends, work, visit places, buy goods and services, and attend events among other things. Many believe it will one day change the internet as we know it. Facebook CEO well described it as an embodied Internet we?re inside of, rather than just looking at.

ETF providers are rushing to ride the Metaverse hype after Facebook changed its name to Meta, a testament of its strategy to become a Metaverse company first, rather than just a social media company. Find out more on key metaverse players and ETFs.

MTAV will track the Solactive Global Metaverse Index and will invest in companies operating in the fields of AR/VR, Creator Economy, Digital Infrastructure, Digital Marketplaces, Gaming, and Digital Payment. As of November 28th, 2021, the MTAV's top holdings include Nvidia Corp. (5.55%), Apple Inc. (5.52%), Amazon.com (5.22%), Meta Platforms (5.17%), Microsoft Corp. (5.16%), Alphabet (5.11%), KWEB ETF (4.97%), Visa Inc. (4.89%), Adobe Inc. (4.81%) and Walt Disney (4.55%).

MESH on the other hand will be actively managed and will invest in a diversified mix of North American companies, as well as other developed markets from around the world, that are involved in the development of the metaverse. As of November 26th, the fund's 25 holdings include Alphabet (4%), Matterport (3.96%), Netease (3.95%), Cloudflare (3.94%), Roblox Corp. (3.94%), Tencent Holdings (3.94%), Unity Software (3.93%), Intel Corp. (3.92%), Sony Group (3.92%) and Taiwan Semiconductors (3.92%).

MTAV and MESH will have an expense ratio of 0.55% and 0.6% respectively (plus applicable tax) and will trade primarily on the Toronto Stock Exchange.

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