LEVITTOWN, Pa.--(BUSINESS WIRE)--
Firm’s inaugural ETF aims to offer investors pure-play exposure to multibillion-dollar space industry
Exchange-traded product (ETP) issuer ProcureAM, a wholly owned subsidiary of Procure Holdings, LLC, is boldly going where no one has gone before with the launch of the Procure Space ETF (NYSE Arca: UFO) – the world’s first global ETF to give investors pure-play access to the expanding space industry.
UFO tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services. Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy.
UFO is the first product launched by ProcureAM, a new ETP issuer founded by innovative ETF entrepreneur Andrew Chanin and ETF industry luminary and veteran Robert “Bob” Tull, who has helped build and launch over 400 ETFs.
“I am honored to bring UFO to market alongside Bob, a trusted mentor with one of the most respected names in the ETF industry,” said Chanin, co-founder and CEO of ProcureAM. “Whether we realize it or not, the space industry touches virtually every aspect of our daily lives – from weather forecasts to GPS systems. The industry is already valued at $384 billion, and estimates project that number to eclipse $1.1 trillion by 2040. Through UFO, investors can now potentially capitalize on this increasingly significant and transformational industry.”
UFO’s underlying index, the S-Network Space Index, was developed by experienced space industry analyst Micah Walter-Range, former director of research and analysis for the non-profit Space Foundation. The index is carefully constructed using a defined rules-based methodology overseen by an impartial Index Committee.
“The exploration of space and the utilization of space assets has become a worldwide effort as a growing number of corporate participants look to meet the future needs of a proliferating global population,” said Tull, co-founder and president of ProcureAM. “We firmly believe the next era of space exploration is upon us, and we believe we are uniquely positioned to help investors access this space like never before.”
UFO comes at an expense ratio of 0.75 percent and trades on the New York Stock Exchange Arca. For additional information, please visit www.ProcureETFs.com.
ProcureAM, LLC (ProcureAM) is an innovative exchange-traded product (ETP) issuer based in Levittown, PA. Established by renowned industry veterans Robert Tull and Andrew Chanin, ProcureAM offers a unique platform for the creation of both proprietary and partnered ETPs. ProcureAM listens to clients and endeavors to provide investors with access to distinct investment opportunities. Whether you are looking to invest in ETPs or create one, contact ProcureAM to explore your performance potential: www.ProcureETFs.com.
The S-Network Space Index is designed to serve as fair, impartial, rules-based and transparent measures of the performance of global space industry equities. It is not possible to invest directly in an index.
Please consider the Funds investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund’s summary prospectus and prospectus, which can be obtained by visiting procureetfs.com. Read carefully before you invest.
Investing involves risk. Principal loss is possible. The Fund is also subject to the following risks: Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Aerospace and defense companies can be significantly affected by government aerospace and defense regulation and spending policies. The exploration of space by private industry and the harvesting of space assets is a business based in future and is witnessing new entrants into the market. Investments in the Fund will be riskier than traditional investments in established industry sectors. The Fund is considered to be concentrated in securities of companies that operate or utilize satellites which are subject to manufacturing delays, launch delays or failures, and operational and environmental risks that could limit their ability to utilize the satellites needed to deliver services to customers. Investing in foreign securities are volatile, harder to price, and less liquid than U.S. securities. Securities of small- and mid-capitalization companies may experience much more price volatility, greater spreads between their bid and ask prices and significantly lower trading volumes than securities issued by large, more established companies. The Fund is not actively managed so it would not take defensive positions in declining markets unless such positions are reflected in the underlying index. Please refer to the summary prospectus for a more detailed explanation of the Funds’ principal risks. It is not possible to invest in an index.
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