Vanguard Communication Services ETF Has Higher SpaceX Weighting Than QQQ
SpaceX (SPCX) joined the Nasdaq-100 on July 7, just weeks after its IPO. Due to a limited float of about 5% of its market cap, its current weighting in index-based funds like Invesco QQQ is only around 1.1%. Vanguard recently updated several ETFs with SpaceX holdings but only the Vanguard Communication Services ETF (VOX) has a higher weighting than QQQ. Vanguard added SpaceX to its Communication Services ETF because of its significant revenue from Starlink and ownership of X, formerly Twitter. As of June 30, SpaceX is already the 13th-largest holding in VOX with a weight of 2.4%. The company's position within this sector could grow as more shares become available for trading starting August 6. Sector ETFs like VOX offer concentrated exposure to industry leaders due to their narrower focus and fewer components, allowing major players such as Alphabet and Meta Platforms to dominate holdings. With the full unlocking of SpaceX’s float expected in December, it may eventually rank among the top three holdings in this fund.
Tickers: $MGK $QQQ $SPCX $VOX $VTI
Topics: ETFs Nasdaq-100 SpaceX Vanguard