NVPS offers focused, relatively modestly valued exposure to the AI hardware bottlenecks that could compound through TSMC, HBM, networking, and liquid-cooling growth.
Overview
PurePlay Nvidia Ecosystem Picks & Shovels Index ETF (NASDAQ: NVPS) launched on June 17, 2026, and began trading June 18 as a passive, rules-based ETF tracking physical suppliers across Nvidia's global value chain. It charges a 0.75% management fee, held approximately $4.90 million to $5.98 million in assets, and had an NAV of $22.27 in late July 2026. The portfolio is geographically diversified across the United States at 55.7%, Taiwan at 14.6%, South Korea at 13.4%, Japan at 9.6%, and Europe at 6.5%. **The core investment case is focused exposure to AI hardware bottlenecks without direct Nvidia or leveraged single-stock exposure.** Major holdings include TSMC, Micron, SK Hynix, Vertiv, ASML, and Marvell. Underlying results were generally strong: TSMC raised 2026 revenue growth guidance to slightly above 40%, Micron secured approximately $100 billion of minimum revenue through 2030 agreements, and Vertiv raised 2026 sales guidance to $14.0 billion. The portfolio trades at 18.45x P/E versus a 23.49x index average, while projected earnings growth is 28.38%.