NASA Space ETF’s Gains Have Surpassed Broader US Indices Since Its Recent Listing

• Tema Space Innovators ETF listed on Mar 31, 2026. 
• Rocket Lab Corporation, Planet Labs PBC and Intuitive Machines form NASA ETF’s top three holdings. 
• Procure Space ETF a retail investor favorite, according to Vanda.

The Tema Space Innovators ETF (NASA) jumped nearly 10% on Tuesday to hit record highs and have significantly outperformed the benchmark U.S. stock indices since listing in March, owing to the surge in retail as well as institutional interest in the space-related stocks ahead of the SpaceX initial public offering (IPO). 

The public filing for SpaceX’s market debut has triggered a broad wave of euphoria across the commercial space sector, prompting market analysts to draw parallels to historical market booms. Wall Street observers note that the enthusiasm mirrors previous market frenzies, as investors rush to gain exposure to space-related equities ahead of what could be the largest stock market listing in history. 

“The SpaceX IPO is drawing more investors and attention to other well positioned companies in the space industry,” Andres Sheppard, an analyst at Cantor Fitzgerald, wrote in a note, accessed by Bloomberg.

The sector-wide surge has lifted a diverse group of aerospace companies. Shares of launch providers and satellite communication networks have posted substantial gains over consecutive trading sessions, driven by expectations that a successful SpaceX listing will validate and elevate valuations across the entire industry.  

Shares of space infrastructure company Redwire (RDW), satellite broadband firm AST Spacemobile (ASTS) and spacecraft maker Firefly Aerospace (FLY) all jumped between 20% and 30% on Tuesday. 

Among space ETFs, the Tema Space Innovators ETF has hit consecutive record highs over the past week, is on-track to gain for the fourth consecutive week and has significantly outperformed the S&P 500, Nasdaq and Dow Jones since its listing late March this year. 

While TEMA has gained around 69% since its March 31, listing, the S&P 500 gained 15%, the Nasdaq rose 25% and the Dow jumped 9%, as per data from Koyfin. 

The SpaceX IPO 

SpaceX is reportedly targeting a valuation of nearly $2 trillion for its mid-June debut, aiming to raise tens of billions of dollars. The capital is expected to fund the company's long-term deep-space exploration goals and the expansion of its Starlink satellite internet constellation.

The upcoming roadshow, scheduled to begin in early June, is anticipated to serve as a major catalyst for the broader aerospace market as institutional investors reallocate capital into the rapidly maturing sector.

Top Holdings of US Space ETFs

Vanda View on Space ETFs 

“Retail investors are looking to get ahead of the widely anticipated SpaceX IPO,” Vanda wrote in a note on Friday, accessed by CNBC. But, they’re doing so “in a selective way.” 

According to Vanda, the Procure Space ETF (UFO) was the “standout favorite” for retail investors looking to get exposure to the space sector ahead of SpaceX IPO. 

Vanda also noted that investors have rushed into infrastructure stock Redwire (RDW), net buying a record of more than $25 million this week. 

Redwire is a space infrastructure company that designs and builds critical space hardware, including solar arrays, deployable structures, and sensors utilized by government and commercial space stations.

NASA Retail View

Retail sentiment was ‘extremely bullish’ with ‘extremely high’ message volumes. 

One user highlighted that the ETF’s value wasn’t high enough and expected it to go high further. 

Another user highlighted that the NASA ETF was being viewed as one of “the only pure-play space vehicles with pre-IPO SpaceX sensitivity.” 

The ETF has surged 44% over the past month and 69% since listing. 

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