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On May 15th, the S-Network Space Index (NYSE: SPACE) will officially become the VettaFi Space Index (NYSE: SPACE). But there’s more than a moniker changing in this index. The rules have been updated to allow for the inclusion of newly listed industry leaders. This opens the door for the index to capitalize on the SpaceX IPO.
The VettaFi Space Index is a modified capitalization weight, float, and space revenue- percentage-adjusted equity index that serves as the premier benchmark for globally traded stocks that are engaged in any aspect of space-related business. Much like Apollo 11 blazed the trail to the moon, the VettaFi Space Index will be one of the first indices to target day-one exposure to mega-cap IPOs in this thematic space.
The rules change to index methodology expands the index’s “Fast-Track Inclusion” rule, allowing the bypass of traditional waiting periods for private companies that have recently transitioned to public markets. In practice, this means that the index will be able to capture exposure to some of the most important companies as they launch their IPOs.
Fast-Track Inclusions have been top of mind for many asset managers. Investors are eagerly anticipating potential IPOs from Anthropic, OpenAI, Daabricks, Stripe, and Canva, as well as SpaceX. What Anthropic is to AI, SpaceX is to space technology, and their coming IPO marks an incredible opportunity.
The VettaFi Space Index will be able to capture exposure to it on day one. VettaFi Head of Research Todd Rosenbluth said, “The SpaceX IPO is one of the most anticipated offerings in my lifetime. It has made the space economy one of the hottest investment themes of 2026 and is likely to persist for years to come.”
The Fast-Track Inclusion will allow the index to immediately capture megacap firms like SpaceX, but other rules changes will help the index to reach for the stars.
The index’s rules currently allow for 4.8% caps on pure play firms, which compose 80% of the index. Diversified play companies are capped at 2.4% and compose 20% of the index..
The new guidelines allow for exposure of up to 15% under a new mega-cap classification for pureplays that have a float market capitalization above $100 billion. This means, assuming there is enough free float availability, the fund can immediately have 15% of its holdings in SpaceX.
It is worth noting that IPOs can play out in a variety of ways. It might take some time for there to be enough free floating shares available to hit the 15% cap. It is also possible that the cap gets met right away.
SPACE will be keeping its ticker, but the index will now benefit from its full integration into VettaFi’s suite of thematic benchmarks. VettaFi’s enhanced data capabilities will help SPACE to be more aggressive in capturing market leadership.
Currently, the VettaFi Space Index serves as the underlying benchmark for the Procure Space ETF (NASDAQ: UFO). The rule changes will help that product continue to scale and offer investors exposure to interstellar innovation.
It is worth noting that SPACE’s previous Fast-Track Inclusion rule, introduced in 2019, allowed for firms with a market capitalization of $100 million USD to be eligible for inclusion upon reaching 22 consecutive trade days.
The new rule, effective May 15th, 2026, allows for pure play companies with a market cap greater than $500 billion USD to become immediately eligible, without having to wait for the previously required 22 trade days or a reconstitution. In this instance, share weights are determined at the close of the first day of trading.
Both rules are now applicable, as the old rule applied to pureplays and non-pureplays as long as the float market capitalization was large enough. The new rule specifically allows pureplays immediate inclusion and looks at full company market capitalization.
Key highlights of the methodology update:
Interested in learning more about VettaFi’s innovative approach to indexing? Reach out here.
On May 15th, the S-Network Space Index (NYSE: SPACE) will officially become the VettaFi Space Index (NYSE: SPACE). But there’s more than a moniker changing in this index. The rules have been updated to allow for the inclusion of newly listed industry leaders. This opens the door for the index to capitalize on the SpaceX IPO.
The VettaFi Space Index is a modified capitalization weight, float, and space revenue- percentage-adjusted equity index that serves as the premier benchmark for globally traded stocks that are engaged in any aspect of space-related business. Much like Apollo 11 blazed the trail to the moon, the VettaFi Space Index will be one of the first indices to target day-one exposure to mega-cap IPOs in this thematic space.
The rules change to index methodology expands the index’s “Fast-Track Inclusion” rule, allowing the bypass of traditional waiting periods for private companies that have recently transitioned to public markets. In practice, this means that the index will be able to capture exposure to some of the most important companies as they launch their IPOs.
Fast-Track Inclusions have been top of mind for many asset managers. Investors are eagerly anticipating potential IPOs from Anthropic, OpenAI, Daabricks, Stripe, and Canva, as well as SpaceX. What Anthropic is to AI, SpaceX is to space technology, and their coming IPO marks an incredible opportunity.
The VettaFi Space Index will be able to capture exposure to it on day one. VettaFi Head of Research Todd Rosenbluth said, “The SpaceX IPO is one of the most anticipated offerings in my lifetime. It has made the space economy one of the hottest investment themes of 2026 and is likely to persist for years to come.”
The Fast-Track Inclusion will allow the index to immediately capture megacap firms like SpaceX, but other rules changes will help the index to reach for the stars.
The index’s rules currently allow for 4.8% caps on pure play firms, which compose 80% of the index. Diversified play companies are capped at 2.4% and compose 20% of the index..
The new guidelines allow for exposure of up to 15% under a new mega-cap classification for pureplays that have a float market capitalization above $100 billion. This means, assuming there is enough free float availability, the fund can immediately have 15% of its holdings in SpaceX.
It is worth noting that IPOs can play out in a variety of ways. It might take some time for there to be enough free floating shares available to hit the 15% cap. It is also possible that the cap gets met right away.
SPACE will be keeping its ticker, but the index will now benefit from its full integration into VettaFi’s suite of thematic benchmarks. VettaFi’s enhanced data capabilities will help SPACE to be more aggressive in capturing market leadership.
Currently, the VettaFi Space Index serves as the underlying benchmark for the Procure Space ETF (NASDAQ: UFO). The rule changes will help that product continue to scale and offer investors exposure to interstellar innovation.
It is worth noting that SPACE’s previous Fast-Track Inclusion rule, introduced in 2019, allowed for firms with a market capitalization of $100 million USD to be eligible for inclusion upon reaching 22 consecutive trade days.
The new rule, effective May 15th, 2026, allows for pure play companies with a market cap greater than $500 billion USD to become immediately eligible, without having to wait for the previously required 22 trade days or a reconstitution. In this instance, share weights are determined at the close of the first day of trading.
Both rules are now applicable, as the old rule applied to pureplays and non-pureplays as long as the float market capitalization was large enough. The new rule specifically allows pureplays immediate inclusion and looks at full company market capitalization.
Key highlights of the methodology update:
Interested in learning more about VettaFi’s innovative approach to indexing? Reach out here.
