ARK Invest unveiled its highly anticipated space exploration and innovation exchange-traded fund (ETF) last week, with the hot new fund quickly amassing more than $536 million assets under management (AUM). Funds usually take about three years to reach $100 million AUM, making ARK's latest actively managed ETF on track to break some records.
The new ARK Space Exploration & Innovation ETF
From that category list, the fund holds expected names like defense companies Kratos Defense & Security
One of the main reasons behind the significant sharing of holdings between ARKX and ARKQ is that the space exploration industry will eventually overlap with the robotics industry as more innovations are made to satellites and other orbital spacecrafts. Additionally, the 3D printing ETF is poised to benefit from the space industry as technologies improve.
Another reason is that there just aren't that many pure-play space stocks beyond names like Virgin Galactic
Beyond its recycled holdings, ARKX offers ARK's actively-managed advantage over passively managed competitor Procure Space ETF
ARKX is the eighth listed ETF offered by ARK Invest.