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Another sports betting ETF debut

Another sports betting etf debut

Posted: November 17, 2021, 11:23 NS.

Last updated: November 17, 2021, 11:54 NS.

Todd Shriber



A new exchange-traded fund (ETF) for this segment is here, especially as young retail investors continue to be enthusiastic about sports betting equities.

sports betting ETF
A new sports betting ETF listed on Nasdaq. It faces established competition. (image:Bloomberg)

iBET Sports Betting & Gaming ETF (NASDAQ: IBET) debuted on Tuesday, becoming the second ETF dedicated to iGaming and sports betting stocks. IBET is a San Francisco-based asset management company sponsored by the Inherent Wealth Fund LLC, the publisher of thematic and sector-specific ETFs. CEO Jeffrey Kamys has 15 years of experience in the fantasy sports, sports analytics and sports industries managing the new fund.

IBET is an actively managed ETF that aims to achieve its investment objectives. By investing at least 80 percent of the fund's net worth under normal circumstances, in addition, for investment purposes in securities of any market capitalization company, including foreign issuers, engaged in the fund's investment theme. Borrowing amount "According to the publisher.

The existing fund in this niche is the Roundhill Sports Betting & iGaming ETF (NYSEARCA: BETZ), which debuted in April 20. As of November 2011, it has $ 346 million assets under management16.

Competitive brewing between IBET and BETZ

It is not yet known if the market can sustain two sports betting funds. But while it is organized, there is potential competition between the established BETZ and the new IBET.

Few new theme funds in my memory these days are as timely as those enjoyed by BETZ. The Roundhill Foundation debuted when many land-based casinos were closed by a coronavirus pandemic. This is a scenario that enhances the investment dissertation of online casinos. In addition, BETZ was well-timed as several members of the fund's roster were released after the ETF's debut, attracting more attention to internet casinos and sports betting stocks.

The price for the new IBET is 0. 79% years, or $ 79$10000 investment. This is 4 basis points above the cost ratio of BETZ. This difference may be due to the fact that BETZ keeps track of the index, while IBET is actively managed.

Other differences between IBET and BETZ

There are other notable differences between IBET and BETZ. For example, DraftKings (NASDAQ: DKNG), the largest holding of new ETFs, occupies 3.89 percent of the fund's weight, and BETZ's largest component, Rush Street Interactive (NYSE: RSI), occupies 5. .. 75 Percentage of that fund.

IBET's top 10 holdings range from 2.84% to 3.Todd ShriberThe range of weights up to. Percentage, spread on BETZ is 3. 59 percent to 575 percent. New ETFs don't have tops Shares in common with pre-10 rivals.

IBET also has names that investors cannot easily associate with sports betting, such as Las Vegas Sands (NYSE: LVS), Melco Resorts & Entertainment (NASDAQ: MLCO), and VICI Properties (NYSE: VICI).

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