Satellite communications, navigation, spectrum, and connectivity are becoming increasingly important drivers of the space economy. Among the top holdings of the Procure Space ETF (UFO), EchoStar (ECHO), Iridium Communications (IRDM), and Sirius XM Holdings (SIRI) have delivered particularly strong gains in 2026. The trio represents roughly 14% of UFO’s portfolio as of mid-August, with Sirius XM (SIRI) carrying the largest weighting of the three.

Key Takeaways

• Sirius XM, EchoStar, and Iridium together represent roughly 14% of UFO as of August 11.
• Iridium’s 164% YTD gain is closely tied to Rocket Lab’s agreement to acquire the company for approximately $8 billion.
• Sirius XM represents UFO’s fourth-largest holding at 5.17%, generating a 43.9% YTD gain through mid-August.

Breaking Down UFO’s Satellite Communications Exposure

UFO seeks to track the VettaFi Space Index (SPACE) and provides exposure to companies involved in the space industry. As of August 11, the ETF’s largest holdings included several companies involved in satellite communications, navigation, and related infrastructure. The fund has an expense ratio of 0.75%

Sirius XM Holdings (SIRI) — 5.17%

Sirius XM is UFO’s fourth-largest holding, behind Garmin (GRMN), Viasat (VSAT), and Trimble (TRMB). The stock has gained approximately 43.9% year to date, according to Yahoo Finance.

Sirius XM is primarily an audio entertainment company rather than a conventional aerospace business. Its flagship SiriusXM service uses satellite infrastructure to deliver programming across North America, reaching approximately 255 million listeners and 33 million subscribers. That makes SIRI an example of how UFO’s mandate extends beyond pure-play hardware builders to businesses whose operations depend on space-based communications infrastructure. Its relatively large portfolio weighting makes the stock’s performance particularly relevant to UFO.

See More: Top Investment Themes for Q2 2026: AI, Semis, South Korea, & Space

EchoStar (ECHO) — 4.04%

EchoStar gained approximately 229% over the past year, making it one of the stronger-performing holdings in UFO. The stock represents 4.04% of the ETF. One of the company’s key developments has been the monetization of its wireless spectrum assets. On July 28, AT&T completed its approximately $23 billion acquisition of spectrum licenses from EchoStar, adding about 50 MHz of low- and mid-band spectrum to AT&T’s holdings.

EchoStar has also agreed to sell 65 MHz of spectrum to SpaceX for $19.6 billion. SpaceX plans to use the spectrum as it expands Starlink into mobile connectivity, including satellite-to-phone services. For UFO, EchoStar provides exposure to satellite communications, wireless spectrum, and the broader development of satellite-based connectivity.

Iridium Communications (IRDM) — 3.48%

Iridium gained approximately 164% YTD through July 28. Rocket Lab’s agreement to acquire the satellite communications company for approximately $8 billion drove much of the stock’s strong gain.

The deal combines Rocket Lab’s launch and satellite manufacturing capabilities with Iridium’s global satellite network and spectrum assets, giving Rocket Lab a larger presence across the satellite communications market.

The acquisition also adds another dimension to UFO’s exposure to the space economy. Rather than relying solely on launch providers, the ETF also holds companies operating the communications infrastructure that supports commercial and government activity in space.

Investing Across the Broader Space Economy

For UFO, the key takeaway is that its exposure extends well beyond SpaceX. The ETF provides broader exposure to the space economy, including satellite communications, connectivity, navigation, and space infrastructure. Companies such as Iridium, EchoStar, and Sirius XM illustrate this broader approach, offering exposure to established communications businesses alongside higher-growth space companies. This diversification could reduce UFO’s dependence on any single company and make the ETF a broader way to participate in the continued commercialization of space.

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VettaFi LLC (“VettaFi”) is the index provider for UFO , for which it receives an index licensing fee. However, UFO is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of UFO.