ARVR vs FMET

ARVRDFirst Trust Indxx Metaverse ETF

FMETBFidelity Metaverse ETF

In short

ARVR A literal bet on the metaverse: roughly 50 global companies tied to virtual worlds, tracked by index rather than a manager's hunch. First Trust launched it in 2022, right as the theme crested.

FMET Fidelity's in-house take on the metaverse trade: a passive, global basket of roughly 60 companies building the plumbing, priced well under the typical thematic fund. A big-brand ETF in a corner usually run by boutiques.

Stated mandate

ARVR The Fund seeks investment results that generally track the price and yield performance of the Indxx Metaverse Index, before fees and expenses.

FMET The fund seeks investment returns that generally track the Fidelity Metaverse Index before fees and expenses.

Why people hold it

• ARVR Pure single-theme exposure. It tracks the Indxx Metaverse Index, about 50 global stocks, with no broad-tech filler diluting the idea you came for.
• Global by mandate, not US-only, so the basket can reach the Asian hardware and chip names that build the plumbing for virtual worlds.
• Plain-vanilla plumbing from a large, long-established issuer: a standard 1940 Act stock fund. No leverage, no swaps, no K-1 at tax time.
• Live since 2022, so it carries a multi-year track record through the theme's hype cycle rather than a backtest.

• FMET Charges 0.39% a year, comfortably under the 0.56% median for its global thematic peer group.
• Rules first, hunches never: it tracks the Fidelity Metaverse Index, holding roughly 60 companies worldwide rather than a manager's shifting shortlist.
• Sits in the stronger half of a crowded global thematic field of about 50 funds, with a 2022 launch and quarterly distributions behind it.

Worth knowing

• ARVR The 0.70% expense ratio sits above the median for global thematic funds, and cheaper broad-theme rivals like UFOX charge 0.30%.
• It is a small fund that trades lightly. Spreads can run wider than a mainstream ETF's, and sizable orders can nudge the price.
• Roughly 50 names in one narrow theme means individual stocks and sentiment swings drive the ride, and payouts come once or twice a year at most.

• FMET A small fund that trades thinly, which can mean wider bid-ask spreads. Limit orders are standard practice in names like this.
• One theme, roughly 60 stocks: moves can be sharper in both directions than a broad global index.
• "Metaverse" has no standard industry definition. Fidelity's own index draws the boundaries, so the lineup can look different from similarly named funds.

Full ARVR profile⁠

Full FMET profile⁠