The Amplify Video Game Leaders ETF (GAMR) hit the reset button this March. With 22 constituent adjustments, the rebalance goes beyond just routine maintenance. It’s a tactical recalibration designed to capture a shifting global landscape and lean back into core gaming fundamentals.
A Shift to Local Listings
One of the most notable moves in the rebalance is the swapping out the U.S.-listed shares of NetEase, Inc. (NTES) in favor of the Hong Kong-listed line of NetEase, Inc. (9999) at a 2.5% weight. The shift points to a broader preference for primary or local listings, particularly for international companies where liquidity and price discovery may more closely tie to home markets.
See More: Navigating Themes With a Disciplined Rotation
Joining the fray is a new position in Bilibili Inc (9626), also at 2.5%. The inclusion expands the fund’s exposure to digital entertainment platforms with strong ties to gaming and streaming ecosystems.
Weight Increases Favor Gaming and Software Names
While AI has stolen the headlines lately, we’re seeing a significant rotation back into the architects of the gaming world.
Electronic Arts (EA) saw a 2.16% bump, bringing it to a 5.0% total weight, while the engine-builder Unity Software (U) climbed 1.32% to reach a 2.5% stake. These aren’t random tweaks. Rather, they suggest a renewed conviction in the companies providing the tools and the titles that define the industry.
Mobile and monetization platforms are also getting their due. AppLovin (APP) and Sea Ltd (SE) were both moved up to 5.0% allocations, signaling that the “anywhere, anytime” gaming model remains a primary growth engine for the portfolio.
Megacap Tech Holdings Trimmed to Target Caps
The rebalance also includes notable trims across several top-performing holdings, a move consistent with maintaining position limits and locking in gains.
Nvidia (NVDA) was reduced by 1.89% to a capped weight of 10.0%, while Meta Platforms (META) was cut by 1.60% to the same level. Elsewhere, Roblox (RBLX) was trimmed by 1.20% to 2.5%. Advanced Micro Devices (AMD) and Tencent Holdings (TCEHY) were also reduced modestly to align with portfolio caps.
These adjustments reflect a normalization phase following outsized gains in AI-driven and platform-centric names, particularly Nvidia and Meta, which have significantly outperformed over the past year.
The rebalance removed Nexon from the index, eliminating its prior 2.26% weight.
The index also dropped U.S.-listed shares of NetEase, as part of the previously noted listing transition.
Rebalance Signals Broader Industry Trends
Taken together, the March rebalance underscores a strategic rotation within the gaming ETF landscape. Gains from megacap technology leaders are being partially harvested and reallocated toward a more diversified mix of gaming publishers, development platforms, and mobile-first companies. At the same time, the shift toward local listings highlights the growing importance of global market structure in index construction.
Originally published on ETF Trends
For more news, information, and analysis visit the Thematic Investing Content Hub.
VettaFi LLC (“VettaFi”) is the index provider for GAMR, for which it receives an index licensing fee. However, GAMR is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of GAMR.
A message from Advisor Perspectives and VettaFi: Discover something new! Click here to register for our upcoming webcasts.
Read more commentaries by VettaFi
