State Street SPDR S&P Kensho Final Frontiers ETF

ROKT

시가총액 US$1.65억

Space data centers promise long-term growth, but profitability is years away due to high launch costs and operational uncertainties. The SPDR S&P Kensho Final Frontiers ETF offers the most efficient, diversified exposure, benefiting from current revenue streams in aerospace and defense.

For three years, clients have asked the same question: “How do I get into SpaceX or OpenAI before the IPO?” That question just changed tense.

Following last week's macroeconomic developments — such as the July jobs report — it's worth taking a look at near-term ETF performance. Tracking top-performing funds allows advisors and investors to see what thematic strategies are resonating in the market.

Launched on October 22, 2018, the State Street SPDR S&P Kensho Final Frontiers ETF (ROKT) is a passively managed exchange traded fund designed to provide a broad exposure to the Industrials - Aerospace & Defense segment of the equity market.

Space stopped being a government-only game years ago. It's now a real, investable industry – satellites beaming broadband to ships and planes, earth-imaging companies selling data to farms and defense contractors, and launch providers racing to put more payloads into orbit than ever before.

SpaceX's anticipated $1.75T+ IPO will add over 50% to the aerospace and defense industry's enterprise value, creating substantial rerating potential for space names. SPCX's valuation leans increasingly on AI and connectivity, with space operations becoming a smaller portion of the premium versus aerospace and defense peers.

As commercial applications in space multiply, investors may find opportunities that extend well beyond a potential SpaceX IPO. Here are some ETFs worth considering.

The commercial space sector now sits above $500 billion in market value, per NOAA's Office of Space Commerce, with order books for satellite operators, launch providers, and earth-observation companies stretching years into the future.

The State Street SPDR S&P Kensho Final Frontiers ETF delivers a 124% 1Y performance, driven by defense, industrial momentum, and space/deep-sea exposure. ROKT's diversified, AI-driven, equally-weighted portfolio leans heavily on top holdings, with over 40% in the top 10 and 53% in Aerospace & Defense. The forward P/E of 27.65x and EPS growth expectations (21.45% annualized) justify current valuations if growth materializes, but EPS revisions are not robust.

The rise of dedicated space ETFs is a relatively recent development. For years, investors seeking exposure to the space economy were largely limited to broad aerospace and defense funds.