What this ETF is trying to do

The FIRST TRUST INDXX METAVERSE ETF (ARVR) is an exchange-traded fund designed to track the metaverse theme. It invests in companies involved in this technology sector. As of October 6, 2026, the ETF's current price is $59.05.

What the numbers show

The data shows that this ETF has experienced significant share-price growth over different time periods.

• Year-to-Date (YTD): The price return is approximately 20.66%. When including distributions, the YTD total return is approximately 20.89%.

• One-Year: The one-year price return is approximately 14.09%. The one-year total return is approximately 14.92%.

• Three-Year: The three-year price return is approximately 101.20%. The three-year total return is approximately 104.43%.

To help visualize the one-year change, the estimated price from roughly one year ago was approximately $51.76.

Income and distribution explanation

This ETF provides some level of cash income through distributions, but it is not a primary income fund. The distribution yield is approximately 0.62%. Over the last 12 months, there were 2 distributions. The frequency of these payments is described as "irregular" or "less frequent."

It is important to remember that a distribution yield tells you how much cash was paid out relative to the price, but it is not the same as total return.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the fund's underlying assets). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, looking at price-based evidence, the fund has an erosion score of 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Top Holdings

The following are the top holdings in the portfolio (note that this is a partial list):

• NEXON CO LTD: 4.34%

• UNITY SOFTWARE INC ORDINARY SHARES: 4.20%

• MICROSOFT CORP: 4.04%

• ADOBE INC: 4.03%

• NINTENDO CO LTD: 3.93%

• SONY GROUP CORP: 3.66%

• XIAOMI CORP CLASS B: 3.38%

• NVIDIA CORP: 3.34%

• NETFLIX INC: 3.29%

• ZOOM COMMUNICATIONS INC: 3.29%

Holdings can change over time. This data was updated on October 7, 2026.

Pros

• Strong historical price returns over the one-year and three-year periods.

• No detected price erosion based on the current erosion score.

Cons

• The distribution frequency is irregular and less frequent.

• The distribution yield is relatively low at 0.62%.

Beginner takeaway

ARVR focuses on the metaverse sector and has shown strong price growth over the last three years. While it does pay distributions, they are infrequent and the yield is low, meaning this fund is focused more on price movement than providing regular cash income.