It's been called, the greatest accomplishment of the 20th century. Today marks the anniversary of Apollo 11 moon landing.
50 years ago today, Neil Armstrong became the first man to step on the moon. Buzz Aldrin was next, while Michael Collins circled the moon in the Columbia spacecraft, waiting for their return.
Here's the deal - There's no need to fly to space to invest in it!
But how? A big portion of the $400 billion 'space industry' is captured in indirect ways, meaning that many companies whose revenues are part of that $400 billion pie are merely exposed to space. Not all of these companies are necessarily 'space companies.'
Newly launched Procure AM space ETF, under the ticker (UFO) - Get Report , holds many companies more directly tied to space, but also holds very diversified names such as Honeywell (HON) - Get Report , Boeing (BA) - Get Report , AT&T (T) - Get Report , Dish (DISH) - Get Report and Sirius (SIRI) - Get Report .
Founder and CEO of the ETF, Andrew Chanin, explained that figuring out which companies will take the most market share in space related activities may be a fools errand. The thing to do is to get broad exposure to a total business that is growing at 8% per year.
"What is the biggest risk for investors to get exposure to space? It may actually be company risk," Chanin said. "When you look at what every company is doing and where they are today and where they're going in the future, there's a huge gap between getting from point a to point B and if you pick just one company, they may be successful, they may not, which is actually why we created UFO as a diversified way for individuals to get global exposure to this growing space economy."