Procure Trust is set to launch the Procure Space ETF (UFO), which awaits confirmation from the Securities and Exchange Commission. Tracking the S-Network Space Index, the fund is comprised of companies which receive at least 50% of revenue from space-related business.
Over two-thirds of the constituents work with satellite technology, with 60% of the companies based in the US. The remaining companies come from global exchanges, ranging from small to large cap.
UFO will charge 0.75%.
Source: S-network
Similar to previous analysis of equity markets in the last few months, the S-Network Space Index shows a similar trend of a difficult Q4 in 2018. Nullifying any gains made from June to October, the index dipped 25% over the last three months of 2018. However, the UFO's benchmark bounced back after Christmas, jumping over 18% throughout January and February.
