GAMR rises 10.23% in April as AMD, Nvidia boost tech holdings

The Amplify Video Game Leaders ETF (GAMR) returned 10.23% in April as gains in AI-capable chipmakers and platform providers lifted the fund’s technology holdings, index data from VettaFi show. Advanced Micro Devices led the move, contributing 7.23 percentage points after a 74.3% gain and a month-end close of $360.54. Nvidia added 1.38 points following a 13.6% rise.

Microsoft, which owns the Xbox platform, climbed 10.4% and contributed about one percentage point after reporting fiscal third-quarter EPS of $4.27 and citing a $37 billion annual run rate for cloud and AI revenue. Unity rose 20.3% and added 0.57 points. AppLovin gained 15.1% and contributed 0.70 points. Meta added 5.6%, contributing 0.68 points. Electronic Arts slipped 0.6% and subtracted a modest 0.03 points.

On a sector basis, the fund’s technology holdings accounted for a 10.39 percentage-point contribution to April’s return, while consumer discretionary holdings subtracted 0.80 points. Technology stocks in the fund returned 28.4% for the month, while the consumer discretionary group fell 4.4%, reflecting investor flows into companies that supply chips, cloud services and development platforms rather than publishers and console makers.

Hardware and publisher stocks weighed on results. Nintendo fell 13.7% and subtracted 0.64 points. Sony declined 6.6%, dragging returns by 0.32 points. Tencent dropped 5.8% and subtracted 0.47 points.

Market participants cited rising demand for AI-capable chips and greater emphasis on cloud and platform services that support game development and distribution. AMD announced a multi-year collaboration with the French government on April 16 to accelerate local AI research and supercomputing capacity. Several analyst upgrades referenced longer-term growth prospects for AI-driven mobile advertising, which supported gains for mobile-adtech and platform companies.

The ETF completed a quarterly rebalance in March that raised Electronic Arts to a 5.0% weight and Unity to 2.5% while trimming Nvidia and Meta to keep their positions below 10% caps. The rebalance also replaced U.S.-listed NetEase shares with the Hong Kong-listed version to align listings with primary home-market trading.

GAMR held about $37.5 million in assets, listed 20 positions and carries a 0.59% expense ratio. VettaFi is the index provider and supplied the contribution and weighting data used in the April reporting.