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ETF Comparison

SPAX vs XSPC: Which Is the Better Pick in 2026?

A head-to-head comparison of T-Rex 2X Long Spacex Daily Target ETF (SPAX) and VegaShares SpaceX & Beyond Earth ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

No track record yet. XSPC launched within the last six months. The forward distribution rate is left blank until a payout is published.

How these figures are calculated: methodology.

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SPAX has lagged XSPC over the shared window since Jun 2026, posting a -55.56% total return against -17.58%. XSPC has been the steadier holding, though — annualized volatility of 51.4% against 157.9% for SPAX. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolSince Jun 2026Volatility Sharpe Sortino Max drawdown
SPAX-55.56%157.9%-1.80-2.25-75.3%
XSPC-17.58%51.4%-1.40-1.96-30.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2026” measures every fund from June 16, 2026 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Jun 2026. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Jun 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSPAXXSPC
Full nameT-Rex 2X Long Spacex Daily Target ETF (SPAX)VegaShares SpaceX & Beyond Earth ETF
IssuerREX SharesVegaShares
Last Close$10.20 as of September 30, 2026$20.75 as of September 30, 2026
Distribution rate——
Trailing 12-month yield4.11%—
Distribution Safety Score™ ——
Expense ratio1.50%0.75%
AUM$4.59M$2.13M
Distribution frequencyNoneNone
Underlying indexSpaceX (SPCX)—
Objective—Provide exposure to the fund's underlying index or strategy per issuer materials.
Asset classEquityEquity
Inception date06/22/202106/15/2026
Ex-dividend date12/27/2024—

— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because XSPC launched June 2026; these fields will populate after the first distribution.

Bottom lineWe won't call this one: XSPC launched June 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional. What is already clear from the numbers above: the two do not cost the same — XSPC charges 0.75% against 1.50% for SPAX, and on funds tracking the same thing that gap compounds every year you hold.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Daily leverage reset. SPAX targets a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Why daily-reset leverage decays

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

REX Shares
ETFs74
Total AUM$17.1B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

REX Shares is known for specializing in options-based and thematic ETF strategies, offering 23 funds organized across distinct families including Covered Call, IncomeMax Option Strategy, and MicroSectors products. The fund lineup emphasizes income generation through option strategies and sector-specific exposure, with holdings spanning technology, commodities, and alternative assets. REX Shares targets investors seeking non-traditional income approaches and concentrated sector bets, positioning itself in a niche segment focused on structured strategies rather than broad market indexing.

See our curated list of related YouTube videos on SPAX.

See all REX Shares ETFs
VegaShares
ETFs6
Total AUM$64.4M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.

See our curated list of related YouTube videos on XSPC.

See all VegaShares ETFs

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Quick verdict

SPAX (T-Rex 2X Long Spacex Daily Target ETF (SPAX)) and XSPC (VegaShares SpaceX & Beyond Earth ETF) are both ETFs, but they take different approaches.

XSPC is cheaper with an expense ratio of 0.75% compared to 1.50%.

SPAX has $4.59M in assets vs $2.13M for XSPC, but XSPC only launched June 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, SPAX has no reported distribution yield yet, so a cash estimate is not available, while XSPC has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates.

SPAX yield—
XSPC yield—

Cost & efficiency

Over 10 years on $10,000, SPAX would cost approximately $1,500 in fees vs $750 for XSPC (simplified, not compounded). The $750.00 difference may be offset by yield or performance.

SPAX ER1.50%
XSPC ER0.75%

Strategy & risk

SPAX tracks SpaceX (SPCX) with a leverage approach, while XSPC is an ETF built around a thematic strategy.

Fund details

SPAX is managed by REX Shares (launched 06/22/2021) with $4.59M in assets. XSPC is managed by VegaShares (launched 06/15/2026) with $2.13M in assets.

SPAX AUM$4.59M
XSPC AUM$2.13M
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Frequently asked questions

Which of SPAX or XSPC pays more dividend income?

XSPC currently reports a distribution yield, while SPAX has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between SPAX and XSPC?

SPAX (T-Rex 2X Long Spacex Daily Target ETF (SPAX)) tracks SpaceX (SPCX) with a leverage approach, while XSPC (VegaShares SpaceX & Beyond Earth ETF) is an ETF built around a thematic strategy. They are issued by REX Shares and VegaShares respectively.

Can I hold both SPAX and XSPC?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which has lower fees, SPAX or XSPC?

SPAX has an expense ratio of 1.50% while XSPC charges 0.75%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SPAX vs XSPC generate?

At current rates, SPAX has not established a distribution history yet, so a cash estimate is not available. XSPC has not established a distribution history yet, so a cash estimate is not available.

Which has performed better historically, SPAX or XSPC?

SPAX has lagged XSPC over the shared window since Jun 2026, posting a -55.56% total return against -17.58%. XSPC has been the steadier holding, though — annualized volatility of 51.4% against 157.9% for SPAX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SPAX vs XSPC — at a glance

Generated September 26, 2026.

Overview

SPAX and XSPC are both single-asset ETFs focused on SpaceX exposure, but they use fundamentally different structures. SPAX is a 2x leveraged daily reset fund designed to amplify SpaceX price moves on a short-term trading basis, while XSPC is a thematic equity ETF that tracks an index of space and beyond-Earth companies with SpaceX as a core holding. Neither pays distributions; both are meant for capital appreciation, not income.

How they differ

The defining difference is leverage versus diversification. XSPC holds a basket of space-economy companies, so it captures broader sector exposure while maintaining a SpaceX anchor. This structural choice shapes fees and costs: SPAX charges 1.50% with $4.59M in assets, while XSPC costs 0.75% and manages $2.13M. SPAX trades at $10.20 and XSPC at $20.75, reflecting their different underlying exposure and design. Both launched recently (SPAX on 06/22/2021, XSPC on 06/15/2026), so neither has a long track record. Neither pays distributions.

Who each is best for

SPAX: Fits traders seeking concentrated, leveraged upside or downside hedging on SpaceX's daily price swings over short holding periods—weeks to months at most.

XSPC: Fits investors who want thematic exposure to the broader space-economy sector without the leverage risk, suitable for longer holding periods and portfolio-level space-tech allocation.

Key risks to know

  • Leverage decay in SPAX: Daily rebalancing means SPAX can lag or lead the underlying SpaceX holding depending on volatility direction. In choppy markets, compounding losses multiply faster than gains, eroding NAV over weeks or months even if SpaceX's price ends flat.
  • Concentration risk in both funds: SPAX holds only SpaceX; XSPC centers on SpaceX within a space-themed basket. If SpaceX regulatory approval stalls, valuation shifts, or operational risk materializes, both funds lack diversification to cushion the blow.
  • Illiquidity and small asset bases: SPAX holds $4.59M and XSPC holds $2.13M, making both thinly capitalized.
  • Single-company tracking in SPAX: Because SpaceX is privately held and not exchange-listed, SPAX's tracking mechanism (likely through derivatives or a structured product) introduces counterparty and structural risk absent from direct equity ownership.
  • Valuation opacity: SpaceX trades infrequently and outside public markets. Both funds' pricing depends on valuation updates tied to secondary-market transactions, which may lag real-time market moves.

Bottom line

SPAX is a leveraged, short-term trading tool for SpaceX volatility; XSPC is a diversified thematic play on the space sector that happens to be anchored in SpaceX. If you want concentrated 2x daily amplification and plan to trade actively, SPAX offers that exposure; if you prefer sector-level space-economy exposure with lower cost and no leverage decay, XSPC fits differently. Both are early-stage, thinly capitalized funds with illiquid underlying assets, so position sizing and holding periods matter significantly. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.