ROKT vs WARP: Grades, Fees and Holdings Compared

State Street SPDR S&P Kensho Final Frontiers ETF

ROKTANYSE Arca

VanEck Space ETF

WARPCNasdaq

Overlap

18.0%by weight

Expense ratio

ROKT −0.05pt a year

ROKT0.45%WARP0.50%

Avg volume · 30D

WARP 2.1×the volume

ROKT21.1KWARP43.6K

ROKT vs WARP Performance

Jul 31, 2026 – Oct 30, 2026

−6.2%ROKT−4.8%WARP

Expense ratio: ROKT 0.45%, better; WARP 0.50%
Fund size: ROKT $156M; WARP $38M
1Y total return: ROKT +27.9%; WARP No data
Yield (12M): ROKT 0.20%; WARP No data
Holdings: ROKT 38; WARP 23
Avg volume (30D): ROKT 21.1K sh; WARP 43.6K sh, better
NAV per share: ROKT $106.01; WARP $17.85
52W range

ETF.net Grade

Pillar letters and Scores for ROKT, WARP, with each pillar’s weight
Pillar	ROKT	WARP
Cost30% weight	A86Higher	A71
Mission25% weight	C44	Not scored
Risk15% weight	A74Higher	F18
Tradability15% weight	A74Higher	C51
Holdings10% weight	A84Higher	D35
Durability5% weight	A87Higher	B60

Rank among Space funds

How we build Categories ›

Same Category. ROKT and WARP are both graded against the same 15 Space funds, so their Grades compare head to head.

Space⁠

Category · 15 funds

See all 15 ›

ROKT ranks 2nd and WARP 4th of 15 funds in the Space Category.

Rank 1AUFOXDefiance Space and Connective Tech ETFScore 84
Rank 2AROKTState Street SPDR S&P Kensho Final Frontiers ETFScore 80
Rank 3CARKXARK Space & Defense Innovation ETFScore 54
Rank 4CORBXGlobal X Space Tech ETFScore 51
Rank 4CWARPVanEck Space ETFScore 51
Rank 6CUFOProcure Space ETFScore 49

Our read on each fund

ETF.net Research

ROKTAState Street SPDR S&P Kensho Final Frontiers ETF

WARPCVanEck Space ETF

In short

ROKT Most space funds stop at the atmosphere. ROKT plays both frontiers: rockets and satellites plus the hardware that explores the deep sea, wrapped in an AI-informed S&P Kensho index running since 2018.

WARP Space 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

ROKT The fund seeks to track the S&P Kensho Final Frontiers Index, targeting companies whose products and services support innovation in outer-space and deep-sea exploration through an AI-informed, quantitative index methodology.

WARP 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

ROKT 0.45% a year, the cheapest sticker in this cohort: ORBX runs 0.50%, while UFO, ARKX and NASA each charge 0.75%.
The index bolts the S&P Kensho Space Index onto the deep-sea exploration names from the Kensho Drones Index, so orbit and ocean floor arrive in one ticker.ssga.com
Trading since 2018 under the SPDR roof, and one of the strongest implementations in the space-theme group on cost, portfolio and staying power.
Roughly 40 stocks, refreshed on the index's annual reconstitution, with cash paid quarterly.ssga.com

WARP 0.50% a year, well under the typical space-fund fee, though UFOX (0.30%) and ROKT (0.45%) charge less.
The 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
Definition of "space" runs wide: exploration, rockets and propulsion, satellite equipment and communications.vaneck.com

Worth knowing

ROKT Trades lightly next to mainstream ETFs and carries a modest asset base; wider bid-ask spreads are the usual trade-off at that size.
Two frontiers in roughly 40 names is a concentrated slice of the market that can move very differently from a broad index.
The deep-sea sleeve means this is not a pure space bet: part of the portfolio never leaves the water.ssga.com

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

Full ROKT profile⁠

Full WARP profile⁠

ROKT vs WARP Holdings

How ROKT and WARP differ

Overlap by weight

18.0%

Shared holdings make up 41.6% of WARP and 18.0% of ROKT.

Level by level

Holdings8 in both18.0%
Countryby domicile85.0%
Asset classEquity100%

Sector

No Sector split for WARP.

Country, concentration and asset class

Country by domicile

Country weights in ROKT and WARP, widest gap first
Country	More in ROKTMore in WARP	ROKT	WARP
United States	ROKT +12.6 points	97.6%	85.0%
Japan	WARP +5.4 points	0.0%	5.4%
Canada	WARP +5.0 points	0.0%	5.0%
Italy	WARP +2.7 points	0.0%	2.7%
Israel	ROKT +2.4 points	2.4%	0.0%
France	WARP +1.9 points	0.0%	1.9%

Concentration

Weight in the 10 largest Holdings

ROKT38.0%
WARP73.5%

Securities held

ROKT37
WARP20

Asset class

ROKT: Equity
WARP: Equity

Holdings

Only in ROKT29
In both8
Only in WARP12

Only in ROKT

29 securities, 81.9% of ROKT by weight

Forum Energy Technologies In4.82%
Lockheed Martin Corp4.23%
Teledyne Technologies Inc3.87%
Rtx Corp3.87%
Ducommun Inc3.76%
Oceaneering Intl Inc3.64%
Northrop Grumman Corp3.56%
Heico Corp3.50%
Moog Inc Class A3.27%
L3HARRIS Technologies Inc3.17%
Hexcel Corp2.99%
Boeing Co/The2.84%
Leidos Holdings Inc2.81%
Esco Technologies Inc2.76%
Kbr Inc2.70%
Analog Devices Inc2.68%
Amphenol Corp Class A2.65%
Huntington Ingalls Industrie2.65%
General Dynamics Corp2.63%
Elbit Systems Ltd2.40%
Transdigm Group Inc2.35%
Technipfmc PLC2.32%
Parsons Corp2.11%
Standex International Corp2.06%
Spire Global Inc2.03%
Honeywell International Inc1.85%
Bwx Technologies Inc1.82%
Honeywell Aerospace Inc1.33%
Ttm Technologies1.23%

Only in WARP

12 securities, 58.2% of WARP by weight

Space Exploration Technologies Corp20.92%
Echostar Corp5.74%
Ast Spacemobile Inc5.07%
Globalstar Inc4.94%
Mda Space Ltd4.88%
Sky Perfect Jsat Holdings Inc3.46%
Ses Sa2.86%
Avio Spa2.64%
Nextnav Inc2.12%
Hawkeye 360 Inc2.03%
Eutelsat Communications Sa1.82%
Astroscale Holdings Inc1.73%

Weight gaps

All 8 Holdings in both funds, largest gap first.

Holding weights in ROKT and WARP, widest gap first
Holding	More in ROKTMore in WARP	ROKT	WARP
Rocket Lab CorpRKLB	WARP +11.29 points	1.93%	13.22%
Viasat IncVSAT	WARP +2.71 points	3.07%	5.78%
Planet Labs PbcPL	WARP +2.41 points	1.60%	4.01%
Firefly Aerospace IncFLY	WARP +2.06 points	2.04%	4.10%
Redwire CorpRDW	WARP +2.01 points	2.11%	4.12%
Intuitive Machines IncLUNR	WARP +1.52 points	1.51%	3.03%
Iridium Communications IncIRDM	WARP +1.25 points	3.47%	4.72%
Voyager Technologies Inc AVOYG	WARP +0.27 points	2.31%	2.58%

All 37 ROKT holdings⁠All 21 WARP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ROKT vs WARP Cost

Overpaying WARP vs ROKT

$938

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ROKT 0.45%
$9,041
WARP 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

ROKT 0.45%
WARP 0.50%
Overpaying

Year by year

Year	ROKT	WARP	Overpaying
10	$812	$900	$88
20	$3,128	$3,460	$332
30	$9,041	$9,979	$938

Expense ratio

0.45%ROKT, cheaper
0.50%WARP

ROKT0.45%WARP0.50%

0.30%1.29%

Middle half of Space funds
Median 0.75%

ROKT 3rd cheapest of 15 funds

WARP 5th cheapest of 15 funds

ROKT vs WARP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ROKT 0.20%; WARP No data
Payout (12M): ROKT $0.21; WARP None
Last payment: ROKT $0.05; WARP No data
Ex-dividend: ROKT Sep 21, 2026; WARP No data
Paid on: ROKT Sep 23, 2026; WARP No data
Frequency: ROKT Quarterly; WARP No data

Distribution history

Per share, 2018 to 2026, same scale for both

ROKTQuarterly · 32 paymentsAll ROKT payments⁠

WARPAll WARP payments⁠

No distribution history available.

ROKT vs WARP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ROKT 26.4%WARP No data
Return per unit of riskSharpe ratio, 3 years: ROKT 1.23WARP No data
Worst fallMax drawdown, 5 years: ROKT −27.6%WARP No data
Market sensitivityBeta, 5 years: ROKT 1.43WARP 3.00; Market = 1

ROKT and WARP in the news

All news⁠

Deep Dive
The largest space ETF publishes two SpaceX figures for the same day
Oct 30, 2026ROKT
News
Rocket Lab funds Iridium cash consideration with $1.94 billion share sale, cancels $3.6 billion bridge
Sep 15, 2026ROKT

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ROKT vs WARP

In short

Stated mandate

Why people hold it

Worth knowing

How ROKT and WARP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ROKT

Only in WARP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The largest space ETF publishes two SpaceX figures for the same day

Rocket Lab funds Iridium cash consideration with $1.94 billion share sale, cancels $3.6 billion bridge

How ROKT and WARP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ROKT

Only in WARP

Weight gaps