How investors can buy aerospace stocks like SpaceX, RKLB, etc.? A breakdown of NASA ETF constituent stocks and fees

As space economics gradually shifts from government-led efforts to commercialization, Elon Musk’s SpaceX is preparing to go public, and an ETF that directly bets on the “space industry chain” has officially launched as well. Developed by Tema, the Tema Space Innovators ETF (ticker: NASA) was established on March 30, 2026, and is listed for trading on the New York Stock Exchange. It is designed to capture overall investment opportunities spanning rockets, satellites, communications, and space infrastructure.

Focusing on the NASA ETF centered on the space economy, in addition to directly holding 10% exposure to SpaceX through an SPV, it also includes EchoStar via equity swaps with SpaceX—effectively equivalent to indirectly holding SpaceX. It also allocates to aerospace up-and-comers such as Rocket Lab (RKLB) and AST SpaceMobile.

A basket of space-related exposures; the NASA ETF expense ratio is 0.75%

This ETF uses active management, with an expense ratio of 0.75% (currently with a fee cap through 2027). Assets under management are about $17.8 million, with roughly 30 holdings. The biggest difference from traditional index ETFs is that NASA not only invests in public companies, but also includes certain private (pre-IPO) companies, aiming to let investors participate early in the early growth premium of the space industry.

From an investment logic perspective, Tema views the space economy as a long-term structural growth theme. Based on its cited data, the global space economy is expected to grow from $630 billion in 2023 to $1.79 trillion by 2035, spanning areas such as communications, defense, data infrastructure, and even future space manufacturing and mining.

NASA ETF holdings revealed—SpaceX exposure

In terms of portfolio allocation, one of the key features of the NASA ETF is that it directly holds exposure to private companies. The top weight is SpaceX (10.03%, indirectly held through an SPV), allowing ordinary investors to indirectly participate in this globally most representative space company in ETF form.

The top ten holdings also include AST SpaceMobile (7%), Rocket Lab (about 6.8%), Planet Labs (about 6%), EchoStar (about 5%), Filtronic (about 4.7%), 5N Plus (about 4.7%), OHB (about 4.3%), Firefly Aerospace (about 4%), and Intuitive Machines (about 3.8%). The combined weight of the top ten is about 57%.

It is worth noting that EchoStar is also included among the components of the Tema Space Innovators ETF. The reason this company has recently drawn market attention is closely tied to SpaceX’s potential IPO. In the past, SpaceX obtained key satellite spectrum assets from EchoStar through equity transactions, forming a share-swap relationship, meaning that holding EchoStar is, to some extent, equivalent to indirectly holding SpaceX exposure.

(SpaceX could have the largest IPO in history—how can investors get in early?)

Aerospace stars: RKLB and ASTS in satellite communications

In addition to SpaceX and EchoStar, the Tema Space Innovators ETF also includes several companies that the market views as representatives of the “next-generation space infrastructure.” Among them, Rocket Lab is regarded as one of the most representative commercial aerospace companies. It focuses on small rocket launches and space mission services. For the long term, the market has used it to benchmark SpaceX, and it is also set to benefit from the growth in low-Earth orbit satellites and demand for commercial launches, making it seen as a star stock in the aerospace industry chain.

Another key company is AST SpaceMobile (NASDAQ: ASTS). Founded in 2017 and headquartered in Texas, United States, the company’s core goal is to build the world’s first “standard smartphone direct-to-satellite” space mobile broadband network. It aims to provide satellite communications to users without requiring them to replace devices. The company targets approximately 3 billion people globally who do not yet have stable mobile network service.

(Taiwan Mobile teams up with AST SpaceMobile to drive smartphone direct-to-low-Earth-orbit satellite connectivity, strengthening resilience in space-and-ground integrated communications)

As of now, AST SpaceMobile has signed cooperation agreements or memoranda of understanding with more than 45 global telecom operators, including AT&T, Verizon, Vodafone, and Rakuten, with potential coverage for about 2.8 billion users. For the telecom industry, these satellite networks can help fill areas where deploying base stations is difficult or not economically feasible—especially in remote areas, at sea, or during disaster scenarios—significantly improving connectivity coverage and resilience.

In Taiwan, Taiwan Mobile has also signed a memorandum of understanding (MoU) with AST SpaceMobile for a strategy partnership on low-Earth orbit satellite communication services. The two sides will promote integration between “space base stations” and existing mobile networks, build a communications architecture with space-and-ground coordination, and strengthen the capability to stay connected everywhere, all the time.

This article on how investors can buy space stocks such as SpaceX and RKLB—the NASA ETF holdings and fee breakdown—first appeared on Lian News ABMedia.