- Business
- Procure Space ETF (UFO), issued by ProcureAM, LLC and managed in collaboration with Penserra Capital Management LLC, is an exchange-traded fund that tracks the performance of the S-Network Space Index (TICKER: SPACE), comprising a tier-weighted portfolio of global companies deriving at least 50% of their revenue from space-related activities including satellite communications, spacecraft manufacturing, launch services, Earth observation, and space infrastructure development; the fund holds approximately 49 securities across diversified market capitalizations, with top holdings such as Viasat Inc. (satellite communications), AST SpaceMobile Inc. (space-based cellular broadband), Planet Labs PBC (Earth imaging satellites), Globalstar Inc. (satellite IoT connectivity), and Rocket Lab Corp. (launch vehicles and spacecraft). Founded on April 11, 2019, and listed on Nasdaq, UFO operates with a 0.75% expense ratio and maintains net assets of around $121 million, targeting investors seeking exposure to the burgeoning global space economy that spans aerospace, defense, and advanced satellite technologies. Headquartered in Levittown, Pennsylvania, the fund invests in companies across multiple regions including North America, Europe, and Asia.
In its most recent semi-annual rebalancing on September 19, 2025, Procure Space ETF added several newly public companies to enhance its portfolio, including U.S.-based Firefly Aerospace (launch systems and spacecraft), Voyager Technologies (NASA-backed Starlab space station development), South Korean Intellian Technologies (satellite antennas and maritime communications terminals), Lumir Inc. (synthetic aperture radar satellite systems for all-weather Earth observation), and Sweden's Ovzon (satellite communications); these additions, comprising up to 4.07% weightings in Firefly Aerospace and 2.99% in Voyager Technologies as of late September 2025, reflect ongoing strategic updates to capture emerging leaders in the space sector amid accelerating commercialization and IPO activity. No major funding rounds, acquisitions, or reorganizations for the issuer ProcureAM have been reported in the past 1-2 years, though the fund continues to evolve its holdings to align with index methodology emphasizing revenue from space activities above the Kármán line.