First Trust Launches First Trust Bloomberg Space Economy ETF
An index-tracking thematic ETF that provides exposure to companies within the space economy
First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has launched a new ETF, the First Trust Bloomberg Space Economy ETF (NYSE Arca: FSPC) (the “fund”). The fund seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the Bloomberg Space Economy Index (the “index”).
Space has quietly become one of the most consequential infrastructure layers of the modern world. What was once the domain of a small number of national space programs has grown into a commercial and government ecosystem that forms the invisible backbone of global navigation, weather forecasting, financial transactions, military communications, and broadband connectivity for populations far beyond the reach of traditional networks.
"As the space economy matures into a dynamic commercial marketplace, investors need benchmarks built on credible, data-driven methodologies," said Mike Pruzinsky, Equity Index Product Manager at Bloomberg Index Services Limited. "The Bloomberg Space Economy Index delivers exactly that, combining sector knowledge with index construction designed to reflect how this industry actually operates. We are pleased that First Trust has selected the Bloomberg Space Economy Index for its investable product.”
