SPAX ETF — T-Rex 2X Long Spacex Daily Target ETF (SPAX)

T-Rex 2X Long Spacex Daily Target ETF (SPAX) (SPAX)

SPAX is an ETF that tracks the SpaceX (SPCX). As of August 19, 2026, its trailing-12-month yield is 4.11%, its expense ratio is 1.50%. Dividend Vision Distribution Safety Score™ is 14/100 (High risk). Fund total return is -46.4% over the past 5.2 years, 140.5 points behind SPY at 94.1%.

This ETF seeks to provide 2x leveraged daily returns tracking a SpaceX-focused SPAC basket by investing at least 80% of its assets in equity securities of U.S.-listed special purpose acquisition companies. The fund does not currently distribute income to shareholders and carries an expense ratio of 1.50%. It appeals to traders and those seeking leveraged equity exposure to SpaceX-related investment vehicles rather than traditional income-focused investors.

SPAX performance versus SPY

Data as of August 19, 2026.

Fund total return is -46.4% over the past 5.2 years, 140.5 points behind SPY at 94.1%.

SPAX key facts

Data as of August 19, 2026.

Distribution Safety Score™

14 · High risk

Issuer

REX Shares

Asset type

ETF

Asset class

Equity

Inception date

06/22/2021

Expense ratio

1.50%

Distribution frequency

Quarterly

Trailing yield

4.11%

Last close

$9.54

AUM

$4,593,438

Average volume

1771323.0

Ex-dividend date

12/27/2024

Payment date

12/31/2024

P/E ratio

15.9726

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (4.11%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: REX Shares; Index: SpaceX (SPCX); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SPAX risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window.

Who may consider SPAX — and who may not

It is a weaker fit for investors who need monthly cash flow (SPAX pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare SPAX

SPAX vs similar funds:

• SPAX vs XSPC

Frequently asked questions

More funds from REX Shares.