The boom in space exploration and space companies led to the creation of Space ETFs, aiming to tap into the trend through a simple investment product. All ETFs that describe themselves as space funds are selecting a different basis for their investment. For a 0.75% fee, the funds advertise access to the space business, but the portfolios behind the identical labels are different. As a result, each Space ETF should be considered a different trade, and estimated on its own merit based on the selected companies and their weight. In this guide, we will aim for a balanced preview of the best space ETF in terms of portfolio exposure, the type of space companies selected, and the tracking of the latest trends in space businesses. Space ETFs differ by age and the type of companies, ranging from navigation to novel space rockets, all reflected in the ETF earnings potential.Quick ComparisonTop space ETFs are actively managed, with shifting weights for their equity selection and the concentration of top holdings. The data are based on a snapshot as of September 2026.Fund & tickerInceptionExpense ratioAUM (as-of date)Top holding & weightTop-2 concentrationSPCX weightWhat you’re actually buyingProcure Space ETF (UFO)Apr 20190.75%$551M as of September 2026Garmin (6.75%)13.5%5.45%Commercial satellite operators, hardware, & space launchTema Space Innovators ETF (NASA)May 20230.75%$1.07B as of September 2026SpaceX (18.12%)29.0%18.12%High-conviction pure-play space tech & Earth observationARK Space Exploration & Innovation ETF (ARKX)Mar 20210.75%$746M as of September 2026SpaceX (10.89%)16.83%10.89%Tech enablers, automation, & broad aerospace ecosystemRoundhill Space & Tech ETF (MARS)Dec 20220.75%$45.87MSpaceX (25.6%)34%25.62%Pure-play space exploration combined with satellite techVanEck Space Innovators UCITS ETF (JEDI / YODA)June 20220.55%$1.7BViasat Inc. (8.98%)16%0%European/UCITS-compliant satellite & space tech portfolio What Actually Counts as a “Space ETF”A space ETF can be any fund related to the aerospace industry and serving as a proxy for a stock portfolio of space companies. Investors, however, differentiate between funds and find several niches in the structure of funds. Some ETFs may also extend to investments in private space companies.A space ETF can be a pure-play fund of companies directly related to space activities, including launch and rocket providers, satellite production, or other space hardware. The company activities turn the ETF into a pure-play trade, which may also include satellite hardware, space station technology, communication, and general space components. The pre-SPCX generation – satellite, GPS, and defence in a space wrapperSome space ETFs also allow for the inclusion of defense verticals. Others add older navigation or satellite companies with established services. Those funds often include a greater weight for the stock of the top navigation companies, such as Garmin or Trimble. A broader ETF category may include aerospace, defense, and other infrastructure companies, NASA contractors or military technologies. In this trade, ETFs offer some overlap with the defense industry, including space missile interception systems and surveillance. Space ETFs may also focus on the communications side, including surveillance, connectivity and telecoms. Other categories include space-adjacent technologies, such as specialized robotics. Space-adjacent innovation is the target of multiple niche space ETFs. Some of the options include international companies, covering the EU and Southeast Asian aerospace industry. Understandably, an ETF can hold those companies in a mixed portfolio. The criteria may be thematic, or an ETF could have exposure to a broader number of space companies. The post-SPCX generation – concentrated bets on the listed space economyThe other major division is between the older list of space ETFs and the newly launched funds linked to the SpaceX (Nasdaq:SPCX) IPO. The launch of new space ETFs accelerated in late 2026 and 2026 to harness the increasing hype around space companies. ETFs launched to tap private market exposure for SpaceX and other companies, single-stock leveraged funds, and space ETFs based on EU space exploration. Several large funds linked to EU space exploration launched in the middle of 2026. The fund creation coincided with a wave of breakthroughs for private space companies, accelerating the demand for investments. From the vantage point of investors, a space ETF is also a trade. Some ETFs work as passive trackers for a portfolio. Others offer riskier leveraged strategies, even linked to a single stock. While on the surface the investment opportunities look similar, space ETFs require in-depth research to select the most suitable fund based on a personally preferred strategy.Why the label stopped being informative in 2026A space ETF label was a clear-cut category, linked to established companies with easily readable financials. From 2026 onward, the space ETF model turned into an entirely different trade, with novel levels of risk. The label of a space ETF now includes novel models, startups, and leverage, going beyond the established technologies and moving beyond the general aerospace and communications model. The Generational Split in HoldingsAs of September 2026, the available top space company ETFs clearly show a generational split in their holdings. The difference means each investor must check the asset composition of funds, as newer ones lean much more heavily on owning SPCX shares. A comparison of three funds shows that the holdings weight of SPCX reveals a generational split and diverging risk profiles. MetricsProcure Space ETF (UFO)Tema Space Innovators ETF (NASA)Roundhill Space & Technology ETF (MARS)Full NameProcure Space ETFTema Space Innovators ETFRoundhill Space & Technology ETFInception DateApril 2019March 30, 2026March 5, 2026Expense Ratio0.75%0.75%0.75%AUM$557M$1.01B$47MLargest HoldingGarmin, 6.65% (as of 2026-08-17)SpaceX, 20.12% (as of 2026-08-14)SpaceX SpaceX Weight4.44%20.12%25.5%Strategy / FocusSatellite services, GPS, navigationConcentrated listed-space bet+ select pre-IPOConcentrated listed-space betThe FundsThe new generation of space ETFs requires a per-case preview to be certain of their stock weights and what the major trade underlying the fund is. Procure Space ETF (UFO)Procure Space is a relatively older space ETF, though it gained exposure during the SpaceX IPO in 2026. Source: Yahoo FinanceProcure Space ETF (UFO) was established in 2019 and is based on companies that derive their revenues from the space-related economy. The fund covers 52 companies across all branches of space tech, including satellites, software, launches, and general space tech. UFO predates the recent space economy boom and demand for listed companies. UFO rebalances quarterly and, over time, has shifted from the old-school fund era into a new portfolio of space companies. The fund has an expense ratio of 0.75%, while assets under management are at $557.15M as of September 2026. The ETF’s top 5 holdings include Garmin (GRMN) – 6.78%, Trimble Inc. (TRMB) – 6.75%, Sirius XM Holdings Inc. – 5.55%, Viasat Inc. (VSAT) – 5.44%, and Space Exploration Technologies Corp. (SPCX) – 5.07%. Buying UFO means exposure to a portfolio of leading space companies. The top 10 holdings of the ETF cover over 48% of the portfolio value, with the rest spread among niche stocks. As the UFO fund rebalances, more exposure to new companies is expected. The main risk is to miss out on an SPCX rally, or to shift the fund toward over-hyped companies, abandoning established stocks. Tema Space Innovators ETF (NASA)Tema Space Innovators ETF (NASA)The Tema Space Innovators ETF (NASA) launched on March 30, 2026, on the New York Stock Exchange. The fund offers active management for direct public companies and pre-IPO exposure for the space industry. As with other space ETFs, the expense ratio is 0.75%. The fund carries $1.01B in assets under management as of September 2026. The fund is open-ended and does not track a particular index. NASA carries 36 total stocks as of September 2026, actively managing new opportunities and shedding old holdings. The biggest weight is for SPCX (25.5%), followed by Rocket Lab Corp (9.94%), AST Spacemobile Inc. (6.86%), Viasat Inc. (5.62%), and Universal Microwave Technology Inc. (4.81%). NASA arrived roughly seven years after the launch of UFO, but already managed to accrue double the assets under management. The rapid growth also includes a risk factor — for NASA, the two leading assets make up over 31% of the fund value, turning the space ETF into a highly concentrated trade. Roundhill Space & Technology ETF (MARS)Roundhill Space & Technology ETF (MARS)Roundhill Space & Technology ETF (MARS) was founded in March 2026, making it one of the new wave of space ETFs. As with other funds, its expense ratio is 0.75%. The fund’s issuer is Roundhill Investments, and the ETF trades on the CBOE BZX exchange. MARS is an actively managed, exchange-traded ETF, seeking returns from space and technology equities. At least 80% of the fund’s assets are allocated to the sector, and the ETF is not diversified. As of September 2026, the fund holds 25.54% of its investments in SPCX stocks. Rocket Lab Corporation (RKLB) makes up 9.26% of the fund, AST SpaceMobile Inc. (ASTS) carries a 6.94% weight, Viasat Inc. (VSAT) at 5.06%, and Globalstar, Inc. (GSAT) at 5.04%. The equity weights are based on Stock Analysis data. MARS combines the old wave of space tech companies, including communications. The fund allocates nearly a quarter of its value to SpaceX, exposing its main risk to SPCX price fluctuations. ARK Space Exploration & Innovation ETF (ARKX)ARK Space Exploration & Innovation ETF (ARKX)ARK Space Exploration & Innovation ETF (ARKX) was founded in early 2021, before the generational shift in space ETF creation. The fund is actively managed and has a long-term growth outlook. At least 80% of the fund’s value is invested in US and global equities of space exploration and defense companies. The fund’s expense ratio is 0.75%, the usual rate for a space ETF. The fund carries $759.5M in assets as of September 2026, with significant growth for the past year from around $230M in March. While ARK is an old-wave fund, the arrival of SpaceX boosted investment in ARKX. SPCX makes up 10.165 of the fund’s value, with 6.83% for L3Harris Technologies Inc. (LHX), Krator Defense and Security Solutions, Inc. (KTOS) at 6.42%, and Deere & Company (DE) at 5.37%. Rocket Lab Corporation is the fifth-largest holding with a 4.89% weight. The fund is diversified with tech stocks, also including Amazon (AMZN), Nvidia (NVDA) and other leading tech equities. While ARKX has a smaller allocation to SPCX, it still faces risk if the space tech hype subsides. ARKX is also partially exposed to risk from the AI sector, as any slowdown could affect its total value. VanEck Space Innovators UCITS ETF (JEDI)VanEck Space Innovators UCITS ETF (JEDI)The VanEck Space Innovators ETF (JEDI) was founded in June 2022, at a time of active onboarding for the aerospace industry, but before the SpaceX IPO hype. The fund operates with a relatively low expense ratio of 0.55%. The VanEck brand drew in up to $1.7B in AUM as of September 2026, boosted by the recent rush to space ETFs in general. The fund returned around 17% in 2026 to date, though peaking much higher in May, just ahead of the SpaceX IPO. The fund was affected by the hype, raising demand significantly, and later saw demand and returns return to average levels. Despite the effect of the SpaceX IPO, the JEDI space ETF focuses on other aerospace companies. Viasat Inc. is the leading holding with a 9.56% weight, followed by Echostar Corp. (ECHO) at 7.28%, Globalstar Inc. (GSAT) with 6.52%, and Rocket Lab Corp. (RKLB) with a 6.31% share. Most of the JEDI fund value is locked in the top 10 stock holdings. The fund has high exposure to a volatile industry and has double the risk of volatility compared to the broader market. JEDI is not an SPCX trade, but tracks the effect of SpaceX on aerospace narratives and general demand for investments. Non-US and UCITS optionsThe growth of the aerospace industry is not limited to US companies and NASA partnerships. The EU space market revenues are growing, and local companies are adopting the new models of private launchers while expanding general aerospace technology. The EU is also running its own block-wide space program, combining research, oversight, and user application of space technologies.As a result, EU space companies also offer a new source of potential gains for space ETFs. Europe has stricter regulations, especially for UCITS-compliant space ETFs. The VanEck Space Innovators is such an ETF, as well as other funds, signifying their UCITS status next to their name. UCITS (Undertakings for Collective Investment in Transferable Securities) funds have stricter requirements for diversification and aim for a lower risk profile. UCITS is a risk framework specifically created in the European Union, ensuring more conservative safety investment standards for retail investors.UCITS space ETFs include iShares Space Technologies UCITS ETF (STRR), with a broad portfolio including satellite systems, orbital technology, and autonomous launch systems. The ETF holds SPCS from before the IPO as a vehicle, in addition to established aerospace companies. The fund has a 0.50% expense ratio, similar to other UCITS ETFs. Other funds include the WisdomTree Space Economy UCITS ETF (SPACE), Global X Space Tech UCITS ETF (ORBX), and ARK Space & Defense UCITS ETF (ARKX), already discussed in detail above. The funds offer different portfolios of space companies, but most of them are more diversified compared to US-based funds or newly created ETFs heavily invested in SpaceX.The third biggest source of space ETFs is the Asia Pacific region. The funds include Global X Space Tech ETF, based in Australia, tied to the Mirae space index. This ETF includes older communication and space tech, as well as launch and space exploration services.Another Australian fund, Global X Defence Tech ETF, tracks the defense side of space tech, including satellite cybersecurity and surveillance.The TIGER Space Tech ETF in South Korea invests mostly in South Korean space tech companies. The fund has a US variant, allowing South Korean investors to gain exposure to US space tech companies. South Korea is also a space tech hub, but its funds track the global industry. The Samsung KODEX US Aerospace ETF tracks international space tech companies, giving local exposure to investors. Each one of those funds operates on different terms and represents a varying risk level, ranging from retail-safe conservative funds to riskier concentrated trades, even with using leverage. To pick the best space ETF, the right approach is to vet each fund for its top equities exposure. ETFs are also often a vehicle for pre-IPO companies. An ETF can be a vehicle to invest in private space companies, in which case it would have a different risk profile compared to established funds with a diversified portfolio in all aspects of space tech. Fees: Identical Headline, Different ProductIn the past decade, space ETFs were a relatively ‘boring’ investment, spanning similar business models in telecoms, satellites and infrastructure. The past decade shifted space tech into commercial flight and launch services, culminating in the SpaceX IPO. As a result, most ETFs, whether US-based or international, applied similar expense ratios. For passive funds, expense ratios range between 0.50% and 0.55%, while actively managed funds have an expense ratio of around 0.75%. The fees depend on operational costs, competition, and the general structure of space tech and equities. Usually, a space ETF will coordinate its fee structure with competitors before launching. Space tech is a relatively small field, meaning the ETF must rely on curated indices (for instance, Solactive or Mirae Asset). The space ETF fees are relatively high due to the need for filtering and maintaining the niche portfolio. In comparison, large index funds can afford to charge as low as 0.03% in fees, due to the economies of scale and a much higher AUM number. For space ETFs, the costs are spread across a much smaller pool of investors, who must shoulder administrative and other fees.Space tech is constrained to a few dozen truly liquid equities, meaning most space ETFs hold similar names in their investment baskets. ETF managers cannot justify higher fees, since the selection is mostly clear-cut. This is where the big difference in funds comes in— the ETF selects how much weight to give to each separate equity. The Pre-IPO WrinkleOne aspect of space ETFs is their ability to serve as vehicles for private space companies. Tema is one of the leading ETFs to offer pre-IPO positions, most notably its exposure to SpaceX. For now, Tema has not included new pre-IPO shares. The ability to buy pre-IPO stocks is a high-conviction trade, which may have high but risky returns. The pre-IPO allocations rely on special investment vehicles and do not guarantee immediate liquidity or price discovery. Investors are also caught in their position until the IPO and trading set up a liquid price for the company. The Risks Nobody Puts in the ListicleSpace ETFs may hold niche risks, which are not visible when looking at the industry as a whole. While space tech is growing, not all equities have the same risk profile. The biggest risk is single-name concentration, either in SPCX or other leading legacy space companies. For some ETFs, the correlation with SPCX may be excessive, turning into a highly concentrated trade. Newer funds arrived at a time of increased hype for aerospace, but this also does not translate into liquidity. Newer ETFs may trade with relatively thin volumes and large daily price fluctuations. Space tech is also relatively slow to develop and apply. The sector may have periods of no new development and hype, or even drawdowns and slower growth. The ‘space’ label itself is no guarantee of growth and liquidity, outside specific demand conditions. Final Verdict: Decide Which Space You’re Actually BuyingThe space label has turned into a shorthand for a booming sector with significant growth promises. Buying into a space ETF, however, may turn into a very different trade. The best approach is to research each ETF and decide what type of risk it represents. Two similar-sounding ETFs may have different portfolio weights and even leverage, leading to vastly different risk profiles. In this listicle, we presented a method to evaluate each ETF and avoid the biggest risks, such as concentration in one equity or reliance on legacy companies. The choice of an actively managed or passive ETF should also be taken into account, as well as the divide between older ETFs and the newly created ones with the goal of buying SpaceX at its IPO. While space ETFs may still have significant upside, each fund’s volatility depends on its holdings concentration and asset curation. Space ETFs are more volatile and have higher fees compared to broad market indexes, offering both concentrated exposure and a riskier profile for higher potential returns, or steeper losses if the space narrative slows down.