This new ETF lets you invest in the rapidly growing, $400 billion space industry

The flood of young companies into the $400 billion space industry is sparking investor interest but there's a common issue: A lack of public U.S. companies that generate the majority of revenue from space business.

"Although there might be private companies that are working on new technologies, it's really difficult to get access unless you're an extremely affluent investor," Chanin said. UFO is not limited to U.S. companies, Chanin noted. He said he believes that investors need to"access this industry by investing in global companies," so UFO"opens up the universe, pun intended, of companies that can be included." The ETF includes everything from satellite communications companies – such as Iridium, Inmarsat, SES – to industrial manufacturers – Harris, Airbus – and more.

The index is also"now the official benchmark of the space industry by the Space Foundation," Chanin said. The Space Foundation is a nonprofit organization, which also hosts one of the world's most widely attended space conferences in Colorado. UFO's index is also the first ever"Space Foundation certified space data product," Chanin added.

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