Exchange-traded product (ETP) issuer ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC, is boldly going where no one has gone before with the launch of the Procure Space ETF (NYSE Arca: UFO)–the world’s first global ETF to give investors pure-play access to the expanding space industry.
UFO tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services.
Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy. The Commerce Department is already throwing its support behind the American space industry with ambitious goals for regulatory reform and promotional efforts.
UFO is the first product launched by ProcureAM, a new ETP issuer founded by innovative ETF entrepreneur Andrew Chanin and ETF industry luminary and veteran Robert “Bob” Tull, who has helped build and launch over 400 ETFs.
“I am honored to bring UFO to market alongside Bob, a trusted mentor with one of the most respected names in the ETF industry,” said Chanin, co-founder and CEO of ProcureAM. “Whether we realize it or not, the space industry touches virtually every aspect of our daily lives – from weather forecasts to GPS systems. The industry is already valued at $384 billion, and estimates project that number to eclipse $1.1 trillion by 2040. Through UFO, investors can now potentially capitalize on this increasingly significant and transformational industry.”
UFO’s underlying index, the S-Network Space Index, was developed by experienced space industry analyst Micah Walter-Range, former director of research and analysis for the non-profit Space Foundation. The index is carefully constructed using a defined rules-based methodology overseen by an impartial Index Committee.
“The exploration of space and the utilization of space assets has become a worldwide effort as a growing number of corporate participants look to meet the future needs of a proliferating global population,” said Tull, co-founder and president of ProcureAM. “We firmly believe the next era of space exploration is upon us, and we believe we are uniquely positioned to help investors access this space like never before.”
UFO comes at an expense ratio of 0.75 percent and trades on the New York Stock Exchange Arca.
For additional information, visit www.ProcureETFs.com.