Bet on These Space ETFs as Ukraine Dominates Russia in Orbital War

Beyond the Ukraine theater, defense agencies worldwide are rapidly accelerating spending to build resilient space infrastructure, which has resulted in a massive surge in space industry investment over the past few years. With space commercialization reaching an inflection point, this is an opportune moment to consider space-focused exchange-traded funds (ETFs) as a strategic investment option.

But before we dive straight into the specifics of those funds, we must analyze in detail how key space stocks are influencing the conflict and the broader trends driving the entire sector's growth, making a compelling case for diversified space ETF investment.

Key Space Stocks Bolstering Ukraine's Defense

Modern warfare has evolved dramatically, with commercial space companies becoming integral to national security. In the Russia-Ukraine conflict, technologies from key space stocks have played a critical role on the battlefield, and this demand has translated to strong financial performance for these firms.

•    Space Exploration Technologies SPCX: Satellite internet from SpaceX’s Starlink has been a game-changer for Ukraine, enabling secure communications and drone control. SPCX has been winning contracts from the Pentagon to supply its Starlink satellite services to Ukraine since June 2023. Impressively, revenues from SpaceX’s Connectivity segment, which houses Starlink, surged a solid 66% year over year in the second quarter of 2026, driven by strong Starlink subscriber growth.

•    Rocket Lab RKLB: This company, known for designing the world's most frequently launched small orbital rocket, made a deal with a European company last year aiming to give Ukraine more satellite support in the war with Russia. Per the terms of the deal, RKLB will supply solar panels for 100 OneWeb Low Earth Orbit satellites for Eutelsat Group, according to a report by Business Insider.

•    Planet Labs PL: As a leader in Earth observation, Planet Labs provides critical geospatial intelligence. Although its technology is not directly used in combat, its high-frequency Earth-observation satellite imagery has been utilized to monitor infrastructure damage, crop shifts and frontline activities in Ukraine.

In January 2026, Planet Labs secured a multi-year contract with the Swedish Armed Forces explicitly designated to boost national security while helping supply timely regional ally support and critical data sharing to Ukraine. This follows a landmark €240-million multi-year satellite deal funded by the German government to use PL’s Pelican constellation to support Ukraine.

Space Stocks’ Future & the Case for ETF Investment

Beyond immediate defense applications, like those being observed in the Ukraine-Russia conflict, several structural factors, including declining launch costs unlocking commercial viability for large-scale Low Earth Orbit constellations, along with increasing use of satellite constellations in areas like precision agriculture, maritime tracking and global broadband connectivity, support long-term expansion across the space economy. 

According to joint research by McKinsey and the World Economic Forum, the global space economy is projected to reach $1.8 trillion by 2035, up from $630 billion in 2023.

Given this backdrop, investing in a single space stock can be risky due to the sector's inherent volatility. This is where Space ETFs shine. They offer diversified exposure to the entire space ecosystem, which includes launch providers, satellite manufacturers and data service providers, spreading risk and capturing growth across the value chain.

Space ETFs to Bet On

Considering the aforementioned discussion, the following ETFs provide a strategic entry point into the high-growth theme offered by the global space economy:

Tema Space Innovators ETF NASA

This fund, with net assets worth $1.15 billion, offers exposure to 38 space exploration, rockets and propulsion systems, and satellite technology companies. Of these, SpaceX holds the first spot in this fund, with a 20.89% weight. RKLB holds the second spot in this fund, with a 10.56% weight. 

NASA charges 75 basis points (bps) in fees and traded at a good volume of 1.08 million shares in the last trading session.

ARK Space & Defense Innovation ETF ARKX

This fund, with net assets worth $759.5 million, offers exposure to 35-55 companies that are engaged in space exploration and defense innovation. Of these, SPCX holds the first spot in this fund, with a 9.07% weight, while RKLB holds the fourth spot, with a 5.49% weight. 

ARKX charges 75 bps in fees and traded at a volume of 0.63 million shares in the last trading session.

Procure Space ETF UFO

This fund, with net assets worth $610.7 million, offers exposure to 67 companies engaged in space-related industries. Of these, Garmin holds the first spot in this fund, with a 6.58% weight. SpaceX holds the fifth spot in this fund, with a 4.60% weight. RKLB holds the eighth spot in this fund, with a 3.93% weight. PL holds the ninth spot in this fund, with a 3.85% weight.

UFO charges 75 bps in fees and traded at a volume of 0.29 million shares in the last trading session.

VanEck Space ETF WARP

This fund, with net assets worth $37.3 million, offers exposure to 23 companies involved in the space industry. Of these, SpaceX holds the first spot in this fund, with a 20.77% weight. RKLB holds the second spot in this fund, with a 11.86% weight. PL holds the ninth spot in this fund, with a 4.42% weight.

WARP charges 50 bps in fees and traded at a volume of 0.06 million shares in the last trading session.

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