Key insights
- Tema ETFs launched the NASA ETF, offering exposure to the space economy, including a 10% allocation to SpaceX via a special purpose vehicle. The fund's launch reflects growing investor interest in the space sector and could signal increased capital allocation towards related companies. However, the overall impact on the broader US equity market is likely limited.
NEW YORK - Tema ETFs launched the Tema Space Innovators ETF (NYSE Arca:NASA) today, marking what the company describes as the first pure-play exchange-traded fund focused on the space economy to include direct exposure to SpaceX.
The fund allocates 10% of its portfolio to SpaceX through a special purpose vehicle provided by Forge, a Charles Schwab subsidiary. SpaceX, which remains privately held, has been among the most anticipated potential initial public offerings.
NASA carries a gross expense ratio of 0.75%. According to a press release statement, Tema absorbs all transaction costs, fees and commissions associated with acquiring and holding SpaceX exposure.
The fund’s top holdings as of today include SpaceX at 10.03%, AST SpaceMobile Inc. at 7.13%, Rocket Lab Corp. at 6.82%, and Planet Labs PBC at 6.16%. Other holdings include Echostar Corp., Filtronic PLC, 5N Plus Inc., OHB SE, Firefly Aerospace Inc., and Intuitive Machines Inc.
Tema cited McKinsey & Company research projecting the global space economy to nearly triple by 2035, driven by declining launch costs, expanding satellite broadband connectivity, defense applications, and commercial space exploration.
"NASA offers investors something that hasn’t existed before: A transparent, actively managed vehicle to access SpaceX alongside the full ecosystem of companies building the space economy of the future," said Yuri Khodjamirian, Tema’s Chief Investment Officer.
Founded in 2022, Tema ETFs is backed by Index Ventures, Accel Partners, Zinal Growth, and financial services executives. The fund is actively managed and trades on NYSE Arca.
The National Aeronautics and Space Administration has no affiliation with the fund and has not endorsed it.
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