When I compared $UFO vs $ARKX vs $ROKT, I was looking at the older generation of space funds. But in 2026 a whole new wave launched, and those are the names that keep showing up when people search for the best space ETFs this year.
Four of them matter most: $NASA, $MARS, $ORBX and $WARP. They all launched between March and May 2026, they all hold almost the same top names, and they all got hit hard in the space selloff. So which one, if any, actually makes sense? Here's how I'd break it down.
What's in this guide
$NASA vs $MARS vs $ORBX vs $WARP Side by Side
Here are the numbers that matter. The column I always look at first is the SpaceX weight, because that one line drives more of your return than the next five holdings combined.
| ETF | Fund | Expense Ratio | Assets | Holdings | Launched | SpaceX Weight | Top 10 Weight | Below 52-Wk High |
|---|---|---|---|---|---|---|---|---|
| $NASA | Tema Space Innovators ETF | 0.75% | ~$945M | 39 | Mar 30, 2026 | ~28.5%* | 67.9% | ~51% |
| $MARS | Roundhill Space & Technology ETF | 0.75% | ~$39M | 29 | Mar 5, 2026 | 27.0% | 69.1% | ~51% |
| $ORBX | Global X Space Tech ETF | 0.50% | ~$43M | 38 | Apr 14, 2026 | 24.6% | 74.2% | ~49% |
| $WARP | VanEck Space ETF | 0.50% | ~$37M | 22 | May 6, 2026 | 22.9% | 74.0% | ~58% |
Sources: StockAnalysis.com fund pages (holdings data via Finnhub), checked October 26, 2026. Prices used for the 52-week comparison: $NASA $20.85 (October 26 intraday), $MARS $22.37 and $WARP $17.63 (October 23 close), $ORBX $41.01 (October 9 close, the latest shown). *$NASA holds SpaceX two ways: about 18.87% through a special purpose vehicle and about 9.62% in listed $SPCX shares. Weights change every day.
Three things jump out. First, $NASA is about 20 times bigger than any of the other three. Second, the fee gap is real: 0.50% vs 0.75%. Third, these are concentrated funds. In every one of them, the top 10 holdings are two-thirds to three-quarters of the money.
$NASA: The Big One
$NASA Tema Space Innovators ETF
$NASA is actively managed and is the giant of the new space funds. Its top holdings are SpaceX through a special purpose vehicle (18.87%), listed SpaceX shares (9.62%), Rocket Lab (9.03%), AST SpaceMobile (5.35%), Filtronic (5.08%) and Universal Microwave Technology (5.06%), with Viasat, MDA Space, Firefly Aerospace and Intuitive Machines rounding out the top 10.
Two things make $NASA different. The first is that SPV position. Tema values it at transaction cost, so nearly a fifth of the fund doesn't move day to day the way listed $SPCX shares do. That smooths the ride on paper, but it also means the fund's price isn't telling you the full real-time story on its biggest bet.
The second is size. At nearly $1 billion, $NASA is the fund on this list least likely to close on you. That matters more than people think with thematic ETFs. Small funds get shut down all the time.
$MARS: The Satellite-Heavy One
$MARS Roundhill Space & Technology ETF
SpaceX first at 27.03%, then Rocket Lab (8.60%), Globalstar (5.72%), AST SpaceMobile (5.38%), Viasat (4.64%), Germany's OHB (4.18%), Iridium (3.63%), MDA Space (3.45%), Planet Labs (3.36%) and Japan's SKY Perfect JSAT (3.07%).
Look at that list again. Globalstar, AST, Viasat, Iridium, SKY Perfect JSAT. $MARS leans hard into satellite communications. It's also the most global of the four, with real weights in German and Japanese names. And it's the only one of the four with Planet Labs in its top 10, if earth imaging is your thing.
The downside: 0.75% for a fund with about $39 million in assets. That's the same fee as $NASA with a fraction of the staying power.
$ORBX: The Cheap Index Fund
$ORBX Global X Space Tech ETF
SpaceX at 24.62%, Rocket Lab 10.36%, AST SpaceMobile 9.44%, then Globalstar, Iridium, Viasat, MDA Space, Redwire, Firefly Aerospace and Intuitive Machines, each around 4% to 5%.
$ORBX is the "space tech" fund, and it tracks a rules-based index, the Global X Space Tech Index, instead of relying on a manager's picks. If you've been searching for a space technology ETF specifically, this is the closest match by name and by holdings.
What I like: it's 0.50%, and it has the biggest AST SpaceMobile weight of any diversified fund I've found. I covered that in detail in which ETFs hold AST SpaceMobile. What I don't love: SpaceX, Rocket Lab and AST alone are about 44% of the fund. That's not a space economy basket. That's three stocks with a supporting cast.
$WARP: The Concentrated One
$WARP VanEck Space ETF
SpaceX 22.92%, Rocket Lab 12.57%, EchoStar 5.59%, Globalstar 5.21%, AST SpaceMobile 5.01%, MDA Space 4.94%, Viasat 4.87%, Iridium 4.87%, Firefly Aerospace 4.02% and Redwire 4.02%.
$WARP tracks the MarketVector Space Index and holds just 22 names, the fewest of the four. It has the smallest SpaceX weight of the group, but the biggest Rocket Lab weight. If you think Rocket Lab is the best listed pure play in space, this is the fund that leans into it the most. My ETFs that hold Rocket Lab list has the full ranking.
It's also the youngest fund here, launched in May 2026, and it's had the roughest ride. More on that below.
How Much They Overlap
This is the part most people miss. These four funds have different names, different issuers and different fees. But they're built on almost the same core.
So owning two of these isn't diversification. It's the same bet twice, with two expense ratios. If you want one, pick one. If you want something that actually behaves differently, the older funds are more spread out: $UFO had 66 holdings and about 17% in SpaceX in the latest data, and $ARKX mixes space with defense and industrial names. I covered the full category in 10 top space ETFs to buy in 2026 and how SpaceX ownership spreads across all of them in ETFs that hold SpaceX.
The Drawdown Nobody Puts in the Headline
Here's the honest part. Using each fund's latest price on StockAnalysis.com against its 52-week high, which for these young funds is basically their high since launch:
- $NASA: about $20.85 vs a high of $42.68, roughly 51% below.
- $MARS: about $22.37 vs a high of $45.92, roughly 51% below.
- $ORBX: about $41.01 vs a high of $79.72, roughly 49% below.
- $WARP: about $17.63 vs a high of $41.77, roughly 58% below.
Cut in half. All of them. That's what happens when your top holding is a single hyped stock and the next few are high-volatility small caps. I wrote about what happened to SpaceX shares in 13 space ETFs to look at instead of $SPCX, and these funds rode that same wave down.
None of that means they're bad funds. It means they're volatile funds, and anyone buying one needs to be OK with that kind of swing happening again, in either direction.
Which One Fits You
- "I want the fund most likely to be around in five years." $NASA. It has the assets. You pay 0.75% for that.
- "I want the cheapest way into the new space names." $ORBX or $WARP at 0.50%.
- "I want the most Rocket Lab." $WARP.
- "I want the most AST SpaceMobile and satellite-to-phone exposure." $ORBX, or $MARS for the broader satellite communications angle.
- "I want space without a giant SpaceX bet." None of these. Look at $UFO or $ROKT instead.
- "I already own one of these." Don't add a second. Check the overlap first.
My Take
I'm a dividend investor first. I reached financial freedom by building income that shows up every month, not by betting on moonshots. None of these four funds pays a dividend, and I'd only ever own something like this as a small slice of a portfolio.
If I had to pick one, I'd lean toward the cheaper index funds, $ORBX or $WARP. Over ten years, the 0.25 point fee gap adds up, and the holdings are close enough that I don't see what the extra fee buys me. The one real argument for $NASA is size. If fund closure risk keeps you up at night, that's a fair reason to pay up.
What I wouldn't do is buy any of these because the name says "space" without looking at the top five lines. You're buying SpaceX, Rocket Lab and AST SpaceMobile first. Everything else is a rounding error by comparison.
Meanwhile, the rest of my portfolio is built to pay me. That's what I cover at TopDividendETFs.com and MonthlyETFs.com. If you want to see how growth themes like space stack up once everything is counted, check GrowthETFs.com and ETFTotalReturns.com. And for live yields and price decay on 130+ income ETFs, TopDividendETFsPRO does the filtering for you.
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Frequently Asked Questions
What is the best space ETF in 2026?
It depends on what you want. Among the new 2026 space ETFs, Tema's $NASA is the largest at about $945 million with a 0.75% fee, while Global X's $ORBX and VanEck's $WARP are the cheapest at 0.50%. Roundhill's $MARS also charges 0.75%. All four hold about 23% to 28% in SpaceX, so they behave similarly.
What is the difference between $NASA and $ORBX?
$NASA is actively managed, holds about $945 million and charges 0.75%, with part of its SpaceX stake held through a special purpose vehicle. $ORBX tracks the Global X Space Tech Index, holds about $43 million and charges 0.50%. $ORBX has a bigger AST SpaceMobile weight, about 9.4% vs about 5.4% in $NASA.
Is there a space technology ETF?
Yes. The Global X Space Tech ETF ($ORBX) tracks the Global X Space Tech Index and launched April 14, 2026. Its largest holdings were SpaceX, Rocket Lab and AST SpaceMobile, about 44% of the fund combined, in StockAnalysis.com data checked October 26, 2026.
Do space ETFs pay dividends?
Not these four. StockAnalysis.com lists no dividend for $NASA, $MARS, $ORBX or $WARP. They are growth funds, and their holdings are mostly companies that reinvest everything into the business.
Which space ETF has the least SpaceX?
Among the four new 2026 funds, VanEck's $WARP has the smallest SpaceX weight at about 22.9%. If you want much less SpaceX, older funds like $UFO (about 17% in the latest data) or defense-heavy funds are more spread out.
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Disclaimer: This article is for educational and entertainment purposes only and is not financial advice or a buy or sell signal on any security. Fund holdings, weights, expense ratios, assets, launch dates and prices come from StockAnalysis.com (Finnhub holdings data) and issuer information, checked October 26, 2026, with prices from October 9 to October 26, 2026 as noted above (data as of October 26, 2026). They change every day and may be inaccurate or outdated. Always do your own research, verify current figures with each fund provider, read the prospectus and consult a licensed financial advisor before making any investment decision. Past performance does not guarantee future results.