SPCF: Leveraged SpaceX ETF

ProShares Ultra SpaceX ETF (SPCF) is an exchange-traded fund that targets 2x the daily returns of SpaceX (SPCX).

SPCF provides investors with a way to access leveraged exposure to SpaceX performance through a single ETF traded on an exchange.

The "best" leveraged SpaceX ETF depends on an investor's objectives.

ProShares Ultra SpaceX ETF (SPCF) is a leveraged ETF that targets 2x or 200% the daily returns of SpaceX stock (SPCX). SPCF is the largest leveraged SpaceX ETF as measured by assets under management.

Source: Bloomberg, as of 6/16/2026.

Investors may use SPCF to seek magnified exposure to SpaceX through a single ETF. Investors can use SPCF to magnify the impact of their investment in SpaceX. This means putting less money at risk for a desired level of daily exposure. For example, a $10 investment in a 2x leveraged ETF achieves $20 of daily exposure to SPCX’s upside, but with no risk of loss beyond the initial $10 investment. Investors seeking similar leverage outside of an ETF structure might resort to borrowing on margin from their brokerage account, which often incurs higher fees and the risk of losing more than your initial investment.

SPCF seeks to provide 2x the daily performance of SpaceX. The fund primarily gains exposure through investments in swap agreements and shares of SPCX.

SPCX is the common stock of SpaceX. SPCF is a 2x leveraged ETF that targets two times (2x) the daily performance of SPCX. Both SPCX and SPCF can be bought and sold with a single ticker in a brokerage account.

A fund seeking 2x daily exposure aims to deliver two times or 200% the performance of its underlying stock (in this case SPCX) for a single trading day, before fees and expenses.

The fund's exposure is reset daily. As a result, returns over periods longer than one day may differ from two times the cumulative return of the underlying exposure due to the effects of compounding and market volatility.

Investors should monitor leveraged investments regularly and understand the risks associated with daily leveraged exposure.

Some investors seeking leveraged exposure may prefer an ETF structure rather than borrowing on margin. SPCF delivers 2x daily exposure to SpaceX through a single ticker—accessible in a standard brokerage account without the need to establish a margin account, borrow funds directly, or meet margin requirements. Unlike margin borrowing, investors in SPCF are not subject to margin calls, and the maximum loss is generally limited to the amount invested in the fund.

Yes, options trading is available for SPCF.

Space Exploration Technologies Corp. (SpaceX) operates across multiple business segments, including space transportation, connectivity, and artificial intelligence.

Its space business designs, manufactures, and launches rockets and spacecraft for commercial, civil, international, and government customers.

Its connectivity business operates the Starlink satellite network, which provides broadband internet services to consumers, businesses, and governments around the world.

Its AI-related activities include artificial intelligence technologies, data infrastructure, and platforms designed to support AI development and deployment.

Leveraged single-stock ETFs seek a daily investment objective and can be significantly more volatile than traditional diversified ETFs.

Because these funds provide exposure to a single company, they are subject to company-specific risks and may experience larger price movements than broader market funds.

In addition, the effects of daily compounding can cause returns over periods longer than one day to differ significantly from the stated leverage multiple.

Investors should carefully review a fund's prospectus and understand its investment objective, risks, charges, and expenses before investing.