Global X Management Company has rolled out a new thematic fund aimed at capturing the fast-evolving space economy, launching the Global X Space Tech ETF (NASDAQ:ORBX).
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The passively managed fund seeks to offer more targeted exposure to space-focused companies at a time when commercialization, from satellite data to reusable rockets, is accelerating.
The firm said the global space economy could approach $1 trillion in annual revenue over the next decade, driven by advancements in launch systems, satellite miniaturization and data analytics.
The ETF tracks the Global X Space Tech Index, focusing on "pure-play" companies that derive at least 50% of their revenue from space-related activities across both upstream and downstream segments.
Key features of ORBX:
- Tracks the Global X Space Tech Index, targeting pure-play space companies.
- Requires at least 50% revenue exposure to space-related segments.
- Covers rocket systems, satellite tech, data services and space exploration.
- Includes both upstream (launch, components) and downstream (telecom, data) activities.
- New listings are reviewed semi-monthly, with quarterly reconstitution cycles.
- Expense ratio is set at 0.50%.
According to Pedro Palandrani, the firm's head of product research and development, ORBX is designed to avoid the dilution seen in broader tech or aerospace ETFs by zeroing in on revenue-linked exposure to the space value chain.
The launch also comes as new space-related IPOs, including that of the much-hyped SpaceX, are expected to hit the market, potentially expanding the ETF's investable universe.
As of March 31, Global X managed $86.58 billion in assets.
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