UFO vs. ITA

Last updated Jun 24, 2026

UFO (Procure Space ETF) and ITA (iShares U.S. Aerospace & Defense ETF) are both exchange-traded funds - UFO is a Global Equities fund tracking the S-Network Space Index, while ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past 5 years, UFO returned 11.11%/yr vs 17.14%/yr for ITA. A 0.65 correlation means they provide meaningful diversification when combined. UFO charges 0.75%/yr vs 0.38%/yr for ITA.

Performance

UFO vs. ITA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Procure Space ETF (UFO) and iShares U.S. Aerospace & Defense ETF (ITA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UFO achieves a 24.53% return, which is significantly higher than ITA's 10.04% return.

UFO

• 1D: -1.21%
• 1M: -22.25%
• YTD: 24.53%
• 6M: 20.15%
• 1Y: 76.34%
• 3Y*: 39.04%
• 5Y*: 11.11%
• 10Y*: —

ITA

• 1D: 0.18%
• 1M: 4.76%
• YTD: 10.04%
• 6M: 7.54%
• 1Y: 29.57%
• 3Y*: 28.50%
• 5Y*: 17.14%
• 10Y*: 15.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UFO vs. ITA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UFO Procure Space ETF	24.53%	67.36%	27.22%	-2.34%	-25.85%	7.17%	-2.15%	5.66%
ITA iShares U.S. Aerospace & Defense ETF	10.04%	48.64%	15.81%	14.33%	9.96%	9.39%	-13.57%	12.89%

Correlation

The correlation between UFO and ITA is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019	0.65

The correlation between UFO and ITA has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

UFO vs. ITA - Sectors Allocation Comparison

Sectors	UFO	ITA
Industrials	52.2%	99.6%
Communication Services	28.6%	-
Technology	19.3%	0.1%
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

UFO vs. ITA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UFO

UFO Risk / Return Rank: 54
UFO Sharpe Ratio Rank: 59
UFO Sortino Ratio Rank: 53
UFO Omega Ratio Rank: 48
UFO Calmar Ratio Rank: 56
UFO Martin Ratio Rank: 54

ITA

ITA Risk / Return Rank: 38
ITA Sharpe Ratio Rank: 40
ITA Sortino Ratio Rank: 41
ITA Omega Ratio Rank: 37
ITA Calmar Ratio Rank: 39
ITA Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UFO vs. ITA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Procure Space ETF (UFO) and iShares U.S. Aerospace & Defense ETF (ITA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	UFO	ITA	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.36	+0.53
Sortino ratio: Return per unit of downside risk	2.47	2.01	+0.46
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.06
Calmar ratio: Return relative to maximum drawdown	2.64	1.88	+0.77
Martin ratio: Return relative to average drawdown	9.06	4.93	+4.13

UFO vs. ITA - Sharpe Ratio Comparison

The current UFO Sharpe Ratio is 1.89, which is higher than the ITA Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of UFO and ITA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UFO vs. ITA - Drawdown Comparison

The maximum UFO drawdown since its inception was -50.33%, smaller than the maximum ITA drawdown of -59.72%. Use the drawdown chart below to compare losses from any high point for UFO and ITA.

Drawdown Indicators

	UFO	ITA	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-59.72%	+9.39%
Max Drawdown (1Y) Largest decline over 1 year	-29.02%	-15.82%	-13.20%
Max Drawdown (3Y) Largest decline over 3 years	-29.02%	-15.82%	-13.20%
Max Drawdown (5Y) Largest decline over 5 years	-50.33%	-18.72%	-31.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.00%	—
Current Drawdown Current decline from peak	-29.02%	-5.72%	-23.30%
Average Drawdown Average peak-to-trough decline	-21.81%	-9.45%	-12.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.46%	6.01%	+2.45%

Volatility

UFO vs. ITA - Volatility Comparison

Procure Space ETF (UFO) has a higher volatility of 19.63% compared to iShares U.S. Aerospace & Defense ETF (ITA) at 8.49%. This indicates that UFO's price experiences larger fluctuations and is considered to be riskier than ITA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UFO	ITA	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.63%	8.49%	+11.14%
Volatility (6M) Calculated over the trailing 6-month period	33.65%	18.48%	+15.17%
Volatility (1Y) Calculated over the trailing 1-year period	40.71%	21.90%	+18.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.64%	20.23%	+10.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.16%	23.23%	+7.93%

UFO vs. ITA - Expense Ratio Comparison

UFO has a 0.75% expense ratio, which is higher than ITA's 0.38% expense ratio.

Dividends

UFO vs. ITA - Dividend Comparison

UFO's dividend yield for the trailing twelve months is around 0.34%, less than ITA's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITA iShares U.S. Aerospace & Defense ETF	0.45%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%
UFO Procure Space ETF	0.34%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UFO and ITA in my portfolio?

UFO and ITA have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UFO or ITA?

UFO has higher volatility (19.63%) compared to ITA (8.49%). In terms of maximum drawdown, UFO dropped -50.33% vs ITA's -59.72%.

Which ETF is better, UFO or ITA?

On 5-year performance, ITA leads with 17.14% vs 11.11% for UFO. On fees, ITA is cheaper at 0.38% per year. On volatility, ITA has been the lower-risk option at 8.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFO or ITA?

Over the 5-year period, ITA has performed better with a 17.14% return vs 11.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFO or ITA?

ITA is cheaper with a 0.38% expense ratio, compared with 0.75% for UFO.

Which ETF pays a higher dividend yield, UFO or ITA?

ITA has the higher dividend yield at 0.45%, compared with 0.34% for UFO.

What is the main difference between UFO and ITA?

UFO is categorized as Global Equities, while ITA is Aerospace & Defense. UFO tracks S-Network Space Index, while ITA tracks Dow Jones U.S. Select Aerospace & Defense Index. They also come from different issuers: ProcureAM and iShares. Their fees differ too: 0.75% for UFO and 0.38% for ITA.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (1.89 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.