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WARP

GradeCNASDAQ Global Market

VanEck Space ETF

Themes · VanEck · Inception 2026-05-06

$20.61−0.72 (−3.38%)

As of Sep 23, 2026, 3:09 PM EDT

History starts May 7, 2026.History starts May 7, 2026.History starts May 7, 2026.
Intraday session: down, 55 prints from 21.33 to 20.61. Range 20.61 to 21.21. Use the arrow keys to read each point.$20.80$21.00$21.2010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$45M
1Y return
—
Yield · Last 12 months
—
Holdings
21
Volume · 30D
0.1M sh
NAV per share
$21.13
52W range
low $17.84high $41.77

The ETF.net WARP Grade

C

47/ 100

Rank 6 of 15 in Space⁠

Confidence Medium

Six-pillar profile for WARP. Scores out of 100: Cost 71, Risk 19, Mission not scored, Tradability 40, Holdings 28, Durability 58. Strongest: Cost (71). Weakest: Risk (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 71
    Category rank5/15 · top 33%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 19
    Category rank11/11 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 40
    Category rank9/15 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 28
    Category rank14/14 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 58
    Category rank8/15 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on WARP

ETF.net Research

CSpace as a rulebook, not a hype trade. VanEck's 2026 entrant tracks the MarketVector Space Index, whose fast-track rule let SpaceX in at the 20% single-name ceiling days after it went public, alongside rockets, satellites and Earth-observation data.

Stated mandate

The fund seeks to track, before fees and expenses, the price and yield performance of the MarketVectorTM Space Index, which represents companies involved in the space industry.

Why people hold it

  1. 010.50% a year, well under the typical space-fund fee, though UFOX (0.30%) and ROKT (0.45%) charge less.
  2. 02The index caps any one stock at 20%, so no single name can swallow the fund. Its large-IPO fast-track rule is how SpaceX got in on methodology, not enthusiasm.vaneck.com
  3. 03Definition of "space" runs wide: exploration, rockets and propulsion, satellite equipment and communications.vaneck.com

Worth knowing

  1. 01Non-diversified and passively run by design, so concentration risk is a feature of the structure, not a surprise.vaneck.com
  2. 02Launched in May 2026, so the live record is short and the asset base is still modest for the category.vaneck.com
  3. 03The theme carries its own weather: government budgets, regulation, supply chains, geopolitics and financing needs.vaneck.com

WARP Holdings

As of Sep 20, 2026, 6:07 AM
Asset class
Stocks
Holdings
21
Top-10 weight
76%
Largest holding
SPCX23.9%

Geography

  • United States83.11%
  • Japan6.05%
  • Canada4.51%
  • Luxembourg2.16%
  • Italy1.90%
  • France1.44%
  • Israel0.83%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SPCXSpace Exploration Technologies Corp23.87%67,822$10M268
002RKLBRocket Lab Corp10.99%71,298$5M237
003VSATViasat Inc6.65%40,033$3M159
004IRDMIridium Communications Inc5.83%53,968$3M168
005GSATGlobalstar Inc5.75%30,649$3M92
006ASTSAst Spacemobile Inc5.64%39,528$2M152
007ECHOEchostar Corp5.08%23,736$2M98
008MDAMda Space Ltd4.51%65,220$2M14
009RDWRedwire Corp4.06%154,735$2M81
0109412.TSky Perfect Jsat Holdings Inc3.52%115,900$2M63
011PLPlanet Labs Pbc3.44%89,035$2M98
012FLYFirefly Aerospace Inc3.40%68,782$1M79
013LUNRIntuitive Machines Inc3.12%92,766$1M84
014VOYGVoyager Technologies Inc2.92%35,074$1M72
015NNNextnav Inc2.36%69,490$1M64

Showing 1–15 of 24 holdings

WARP Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

WARP$8,883
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. WARP $8,883. SPY $10,415. Use the arrow keys to read each point.$7,167$9,073$10,979Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for WARP. Periods over one year show the average yearly return.
PeriodWARP
Year to dateFund launched this year—
1 month+0.6%
3 months−11.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for WARP
YearReturn barWARP
2026 YTD−15.6%

History from May 7, 2026

WARP in the news

ETF.net Research hasn’t filed on WARP yet — coverage lands here as it’s written.

WARP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed May 2026. No distributions yet.

WARP Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

WARP Cost

Expense ratio0.50%
  • The middle half of Space funds
  • Median 0.75%

4 of the 15 Space funds charge less.

WARP costs $50.00 a year on $10,000. The median Space fund costs $75.00.