What are space ETFs?
Space ETFs own companies that build rockets and satellites, run satellite networks or make products that rely on them. Several also hold defense contractors. Four funds make up this group, with about $1.76 billion in combined net assets. Rocket Lab is the most widely held stock and appears in three of the four funds. Stocks held by two funds include Space Exploration Technologies Corp (SpaceX), Iridium Communications, Trimble, Planet Labs, RTX, Viasat and Lockheed Martin.
ARKX, from ARK Invest, is actively managed. Its managers pick stocks with a goal of long-term growth of capital rather than tracking an index. Its prospectus calls it the ARK Space & Defense Innovation ETF. Its largest holdings mix SpaceX (7.67%) with L3Harris, Kratos Defense, Deere and AMD. UFO, from ProcureAM, tracks the S-Network Space Index across 64 holdings, led by Garmin and Trimble. ROKT, from State Street's SPDR family, tracks the S&P Kensho Final Frontiers Index and is the least concentrated. It holds 34.37% of its assets in its top ten holdings, against 54.23% for ARKX and 48.35% for UFO.
RKLX, a Defiance fund issued through Tidal Financial Group, is a leveraged ETF. It seeks twice the daily percentage change in one stock, Rocket Lab, and resets every day. Treasury bills, which are short-term US government debt, make up 86.91% of its reported holdings. That is typical of funds that get their exposure through derivatives.
Costs vary widely. The median expense ratio, the yearly fee taken from fund assets, is 0.75%, and both ARKX and UFO charge that. ROKT is the lowest at 0.45% and RKLX the highest at 1.63%. Because there are only four funds, the five largest hold 100% of the group's assets. ARKX and UFO alone hold most of that money.
Space ETF holdings: the stocks most funds own
The stocks that show up most often among the largest positions of the 4 biggest space ETFs with holdings reports, from their latest N-PORT filings.
| Stock | Funds holding it | Typical weight |
|---|---|---|
| Rocket Lab Corp | 3 of 4 | 3.58% |
| Space Exploration Technologies Corp | 2 of 4 | 3.8% |
| Iridium Communications Inc | 2 of 4 | 3.65% |
| Trimble Inc | 2 of 4 | 3.34% |
| Planet Labs PBC | 2 of 4 | 3.29% |
| RTX Corp | 2 of 4 | 3.26% |
| Viasat Inc | 2 of 4 | 3.13% |
| Lockheed Martin Corp | 2 of 4 | 2.96% |
Typical weight is the median share of each fund’s assets in the stock, among the funds that hold it in their 25 largest positions.
The largest space ETFs, side by side
Swipe the table to see all 3 funds.
| ARKX | UFO | ROKT | |
|---|---|---|---|
| Net assets | $759.5M | $587.2M | $248.4M |
| Expense ratio | 0.75% | 0.75% | 0.45% |
| Holdings | 35 | 64 | 37 |
| In the 10 largest | 54.23% | 48.35% | 34.37% |
| Biggest holding | Space Exploration Technologies Corp (7.67%) | Garmin Ltd (6.97%) | Ducommun Inc (3.68%) |
| Yield | — | 0.37% | 0.2% |
| 1-year return | -0.7% | +6.8% | +28.0% |
| 3 years, a year | +34.5% | +41.1% | +40.5% |
| 5 years, a year | +9.1% | +8.3% | +21.5% |
| Worst drop, past year | -21.8% | -41.9% | -27.6% |
| Launched | 2021 | 2019 | 2018 |
The largest ordinary funds by net assets (leveraged and inverse funds are listed further down). Holdings from each fund’s latest N-PORT report; returns include reinvested distributions, as of Oct 27, 2026.
Head to head
ARKX vs UFO
ARKX and UFO are the two largest space ETFs, and both charge 0.75%. ARKX is actively managed, with 35 holdings and 54.23% in its top ten, led by SpaceX at 7.67%. UFO tracks the S-Network Space Index, with 64 holdings and 48.35% in its top ten, led by Garmin at 6.97%. Only 21.4% of their assets overlap. As of June 26, 2025, their one-year returns were close: 58.4% for ARKX and 56.9% for UFO. Each fell as much as 25.5% during that year. ARKX may suit investors who accept a manager's concentrated picks. UFO may suit those who prefer a broader index.
UFO vs ROKT
UFO and ROKT overlap the most of any pair: 34.9% of assets, across 15 shared holdings. Both track indexes, but ROKT is spread more evenly. It has 34.37% in its top ten, led by Ducommun at 3.68%, against 48.35% for UFO, led by Garmin at 6.97%. ROKT costs 0.45% and UFO 0.75%. As of June 26, 2025, UFO returned 56.9% over one year to ROKT's 29.2%. ROKT led over five years, 18.2% to 9.7%. Their worst one-year drops were similar: 25.5% for UFO and 23.5% for ROKT. UFO may suit those who want more holdings and yield, and ROKT cost-conscious investors.
ARKX vs ROKT
ARKX and ROKT overlap the least: 17.5% of assets, across 10 shared holdings. ARKX is actively managed, with 54.23% in its top ten, and SpaceX is its largest position at 7.67%. ROKT tracks the S&P Kensho Final Frontiers Index, with 34.37% in its top ten. ROKT costs 0.45% and ARKX 0.75%. As of June 26, 2025, ARKX returned 58.4% over one year and ROKT 29.2%. In the 2022 bear market, though, ARKX fell 35.9% and ROKT only 14.5%. ARKX may suit investors comfortable with a manager's bets. ROKT may suit those who want a cheaper, more evenly spread index.
How much do the largest space ETFs overlap?
Owning two funds that hold the same stocks adds little diversification. Overlap here is the share of assets two funds have in common: for each stock both own, the smaller of its two weights, added up.
From each fund’s full holdings in its latest N-PORT report.
How have space ETFs performed?
The five largest ordinary funds: growth from the start of the range, distributions reinvested. The dashed gray line is the S&P 500 (SPY).
Best-performing space ETFs over the past year
| # | Fund | Net assets | Cost | 1 mo | YTD | 1 yr | 3 yr |
|---|---|---|---|---|---|---|---|
| 1 | ROKT SPDR S&P Kensho Final Frontiers ETF | $248.4M | 0.45% | -3.2% | +22.1% | +28.0% | +40.5% |
| 2 | UFO Procure Space ETF | $587.2M | 0.75% | -5.5% | +6.6% | +6.8% | +41.1% |
| 3 | ARKX ARK Space Exploration & Innovation ETF | $759.5M | 0.75% | -5.7% | +6.4% | -0.7% | +34.5% |
Funds with at least $25 million in net assets; leveraged and inverse funds left out. Past returns don’t predict future returns.
How space ETFs did in past market crashes
| Fund | 2008 crash | 2020 crash | 2022 drop |
|---|---|---|---|
| ARKX | not yet launched | not yet launched | -35.9% |
| UFO | not yet launched | -47.6% | -32.2% |
| ROKT | not yet launched | -42.6% | -14.5% |
| S&P 500 (SPY) | -55.2% | -33.7% | -24.5% |
Total return from the stock market’s peak to its low in each fall, distributions reinvested.
What drives space ETFs?
Space companies make money in different ways, and each responds to different forces. Defense contractors and launch providers rely heavily on government budgets and contract awards, so spending decisions matter. Companies that provide satellite services and GPS-linked equipment serve consumers and businesses, which ties them to the wider economy. Younger space companies often spend heavily for years before they earn steady profits. That makes their shares sensitive to interest rates, because higher rates reduce the value investors place on profits expected far in the future. A single launch failure or lost contract can move a smaller stock sharply.
These traits have shown up in downturns. None of these funds existed during the 2008 financial crisis, when the S&P 500 fell 55.2%. In the 2020 COVID crash, UFO fell 47.6% and ROKT 42.6%, both deeper than the S&P 500's 33.7% drop. In the 2022 bear market, a long slide in stock prices, ARKX fell 35.9% and UFO 32.2%, against 24.5% for the S&P 500. ROKT, the least concentrated fund, fell a smaller 14.5%. RKLX launched in March 2025 and has no downturn record.
Space ETFs with the lowest expense ratios
| # | Fund | Expense ratio | On $10,000 | Net assets |
|---|---|---|---|---|
| 1 | ROKT SPDR S&P Kensho Final Frontiers ETF | 0.45% | $45 a year | $248.4M |
| 2 | ARKX ARK Space Exploration & Innovation ETF | 0.75% | $75 a year | $759.5M |
| 3 | UFO Procure Space ETF | 0.75% | $75 a year | $587.2M |
Ordinary funds with at least $10 million in net assets. The median ordinary space ETF charges 0.75% a year; leveraged and inverse funds usually charge more.
Do space ETFs pay dividends?
2 of the 3 ordinary space ETFs with a page here paid distributions over the last 12 months, with a median yield of 0.2%.
| Highest yields | Yield | Net assets |
|---|---|---|
| UFO Procure Space ETF | 0.37% | $587.2M |
| ROKT SPDR S&P Kensho Final Frontiers ETF | 0.2% | $248.4M |
Distributions over the last 12 months divided by the price; funds with at least $25 million in net assets.
How to choose a space ETF
- Yearly cost: 0.45% to 1.63%. ROKT charges 0.45% a year, the lowest of the group. ARKX and UFO each charge 0.75%, and the leveraged RKLX charges 1.63%. Over long holding periods, even small gaps in fees add up.
- Active stock picking or an index. ARKX is actively managed by ARK Invest, so its holdings reflect the managers' judgment and can shift as their views change. UFO tracks the S-Network Space Index and ROKT the S&P Kensho Final Frontiers Index, following published rules.
- How much rides on the top ten. ARKX holds 54.23% of its assets in its top ten and UFO 48.35%. ROKT's top ten make up 34.37%, and its largest holding, Ducommun, is 3.68%. More concentration raises the stakes on a few companies.
- How each fund defines space. ARKX's top holdings include the defense names L3Harris and Kratos, plus Deere and AMD. UFO leans on Garmin, Trimble, Viasat and Sirius XM. ROKT's leaders include Ducommun, Iridium, ESCO and Spire Global. Overlap between pairs runs from 17.5% to 34.9%.
- Size and length of track record. ARKX is the largest at about $759 million but launched only in March 2021. ROKT, from October 2018, and UFO, from April 2019, are smaller but have five-year return records.
- RKLX is a one-stock leveraged trading tool. RKLX seeks twice Rocket Lab's daily move and resets each day. Over weeks or months its results can drift far from twice the stock's return, and it does not spread money across space companies.
What are the risks of space ETFs?
- Large price swings, even in baskets. As of June 26, 2025, one-year volatility, a measure of how widely prices swing, was 34.1% for UFO, 31% for ARKX and 25.4% for ROKT. ARKX and UFO each fell up to 25.5% within that year.
- Heavy weight in a handful of stocks. ARKX keeps 54.23% of its assets in its top ten holdings, led by SpaceX at 7.67% and L3Harris at 7.52%. UFO's top ten make up 48.35%. Trouble at one or two companies can hit the whole fund.
- Deeper losses than the market in downturns. In the 2020 COVID crash, UFO fell 47.6% and ROKT 42.6%, against 33.7% for the S&P 500. In the 2022 bear market, ARKX lost 35.9% and UFO 32.2%, versus 24.5% for the index.
- Owning two funds may add little variety. Rocket Lab appears in three of the four funds, and UFO and ROKT share 34.9% of their assets. Pairing space ETFs can repeat the same bets rather than spread risk.
- Daily 2x leverage on one stock. RKLX seeks twice Rocket Lab's daily move, so a bad day for the stock means roughly double the loss. Daily resetting can wear away value when prices swing back and forth, even if Rocket Lab ends where it started.
Leveraged and inverse space ETFs (2x)
These funds aim for a multiple, or the opposite, of one day’s return, and reset every day. Held for longer than a day, their results can drift far from that multiple, especially when prices swing. They are trading tools, not long-term holdings. Why leveraged ETFs decay →
| Fund | Daily aim | Net assets | 1-year return |
|---|---|---|---|
| RKLX Defiance Daily Target 2X Long RKLB ETF | 2× | $164.3M | -74.1% |
List of all space ETFs, by size
| # | Fund | Net assets | Cost | Yield | YTD | 1 yr | 5 yr |
|---|---|---|---|---|---|---|---|
| 1 | ARKX ARK Space Exploration & Innovation ETF | $759.5M | 0.75% | — | +6.4% | -0.7% | +9.1% |
| 2 | UFO Procure Space ETF | $587.2M | 0.75% | 0.37% | +6.6% | +6.8% | +8.3% |
| 3 | ROKT SPDR S&P Kensho Final Frontiers ETF | $248.4M | 0.45% | 0.2% | +22.1% | +28.0% | +21.5% |
| 4 | RKLX Defiance Daily Target 2X Long RKLB ETF Leveraged | $164.3M | 1.63% | 52.75% | -71.7% | -74.1% | — |
Questions investors ask about space ETFs
What is the largest space ETF?
ARKX is the largest space ETF, with about $759 million in net assets. UFO is next with about $587 million, then ROKT with about $248 million and the leveraged RKLX with about $164 million. ARK Invest manages ARKX actively. Its prospectus names it the ARK Space & Defense Innovation ETF, though some data sources list it as the ARK Space Exploration & Innovation ETF.
What is the cheapest space ETF?
ROKT, the SPDR S&P Kensho Final Frontiers ETF, has the lowest expense ratio at 0.45% a year. ARKX and UFO each charge 0.75%, which is the group median, and the leveraged RKLX charges 1.63%. ROKT is also the least concentrated fund, with 34.37% of its assets in its top ten holdings. It is smaller than ARKX and UFO, with about $248 million in net assets.
ARKX vs UFO: what's the difference?
The main difference is approach: ARKX is actively managed, while UFO tracks the S-Network Space Index. ARKX has 35 holdings with 54.23% in its top ten, led by SpaceX. UFO has 64, with 48.35% in its top ten, led by Garmin. Only 21.4% of their assets overlap, and both charge 0.75%. As of June 26, 2025, one-year returns were 58.4% for ARKX and 56.9% for UFO. UFO yields about 1.91%, and ARKX shows no yield.
Do space ETFs pay dividends?
Yes, two of the three standard space ETFs do, but the amounts are small. UFO yields about 1.91% and ROKT about 0.58%, while ARKX shows no yield. Many space and technology companies keep their profits to fund growth instead of paying dividends. As a result, these funds produce little income for retirees who draw on their portfolios.
Do space ETFs own SpaceX?
Yes, two of the four do. Space Exploration Technologies Corp, better known as SpaceX, is the largest holding in ARKX at 7.67% of assets, just ahead of L3Harris at 7.52%. That is a bigger stake in one company than any position in ROKT, whose largest holding, Ducommun, is 3.68% of the fund.
How many space ETFs are there?
This guide covers four space ETFs with about $1.76 billion in combined net assets: ARKX, UFO, ROKT and RKLX. Three are ordinary stock funds holding between 35 and 64 companies. The fourth, RKLX, is a leveraged fund tied to one stock, Rocket Lab, rather than a basket of space companies. ARKX and UFO hold most of the money.
What is RKLX and how does a 2x Rocket Lab ETF work?
RKLX, the Defiance Daily Target 2X Long RKLB ETF, seeks twice the daily percentage change in Rocket Lab's share price. Its prospectus says it does not seek that target over any period longer than one trading day. Because it resets daily, its returns over weeks or months can differ widely from twice Rocket Lab's, especially when the stock swings. That makes it a short-term trading tool. It charges 1.63% and launched on March 12, 2025. As of June 26, 2025, its year-to-date gain was 78.4%.
How have space ETFs performed?
As of June 26, 2025, the three standard space ETFs had large one-year gains: 58.4% for ARKX, 56.9% for UFO and 29.2% for ROKT. Over five years, ROKT returned 18.2% and UFO 9.7%. ARKX is too young to have a five-year figure. Losses have been steep too. In the 2022 bear market, ARKX fell 35.9% and UFO 32.2%, against 24.5% for the S&P 500. These figures are based on share prices.
Is there a Vanguard, Fidelity or Schwab space ETF?
No. None of the three offers a space ETF. The largest space ETFs come from ARK Invest (ARKX), ProcureAM (UFO) and SPDR (State Street) (ROKT), and customers of all three firms can buy other companies’ ETFs in their brokerage accounts. For a broader fund, VGT (Vanguard Information Technology ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are covered in our technology ETF guide.
