First Trust S-Network Streaming & Gaming ETF (BNGE) is an exchange-traded fund that seeks investment results tracking the S-Network Streaming & Gaming Index, which comprises companies deriving significant revenue from streaming media, video gaming, and related technologies. The fund invests in equity securities of U.S.-listed companies across various market capitalizations that meet the index's criteria, including streaming content providers, gaming software developers, hardware manufacturers, esports organizations, and ancillary services such as cloud gaming platforms and virtual reality technologies; it employs a modified market-capitalization weighting methodology with sector and liquidity screens to ensure diversification. Headquartered in Wheaton, Illinois, and managed by First Trust Advisors LP since its inception in 2021, BNGE operates primarily in the U.S. financial markets, targeting investors seeking exposure to the high-growth digital entertainment and interactive media sectors. Recent portfolio adjustments include increased allocations to leading gaming titles and streaming giants amid the 2024-2025 surge in cloud-based gaming adoption and metaverse initiatives; the fund also benefited from strategic index reconstitutions in late 2024, incorporating emerging esports and live-streaming pure-plays following major industry mergers like those in mobile gaming. As of December 2025, BNGE maintains a focus on North American and global firms with substantial U.S. revenue exposure, with no reported parent company changes or reorganizations in the past two years.