WARP vs. UFO

Last updated Jun 24, 2026

WARP (VanEck Space ETF) and UFO (Procure Space ETF) are both exchange-traded funds - WARP is a Industrials Equities fund tracking the MarketVector Space Index, while UFO is a Global Equities fund tracking the S-Network Space Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. WARP charges 0.50%/yr vs 0.75%/yr for UFO.

Performance

WARP vs. UFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Space ETF (WARP) and Procure Space ETF (UFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WARP

• 1D: -1.83%
• 1M: -30.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UFO

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

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

WARP vs. UFO - Yearly Performance Comparison

	2026 (YTD)
WARP VanEck Space ETF	-9.45%
UFO Procure Space ETF	-8.67%

Correlation

The correlation between WARP and UFO is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 7, 2026	0.98

Return for Risk

WARP vs. UFO — Risk / Return Rank

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

WARP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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

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.

WARP vs. UFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Space ETF (WARP) and Procure Space ETF (UFO). 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.

	WARP	UFO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.89	—
Sortino ratio: Return per unit of downside risk	—	2.47	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.64	—
Martin ratio: Return relative to average drawdown	—	9.06	—

Drawdowns

WARP vs. UFO - Drawdown Comparison

The maximum WARP drawdown since its inception was -38.58%, smaller than the maximum UFO drawdown of -50.33%. Use the drawdown chart below to compare losses from any high point for WARP and UFO.

Drawdown Indicators

	WARP	UFO	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-50.33%	+11.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-29.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.33%	—
Current Drawdown Current decline from peak	-38.58%	-29.02%	-9.56%
Average Drawdown Average peak-to-trough decline	-13.50%	-21.81%	+8.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.46%	—

Volatility

Volatility by Period

	WARP	UFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	89.18%	40.71%	+48.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.18%	30.64%	+58.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.18%	31.16%	+58.02%

WARP vs. UFO - Expense Ratio Comparison

WARP has a 0.50% expense ratio, which is lower than UFO's 0.75% expense ratio.

Dividends

WARP vs. UFO - Dividend Comparison

WARP has not paid dividends to shareholders, while UFO's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
UFO Procure Space ETF	0.34%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%
WARP VanEck Space ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WARP and UFO in my portfolio?

With a correlation of 0.98, WARP and UFO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, WARP or UFO?

On fees, WARP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WARP or UFO?

WARP is cheaper with a 0.50% expense ratio, compared with 0.75% for UFO.

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

UFO has the higher dividend yield at 0.34%, compared with 0.00% for WARP.

What is the main difference between WARP and UFO?

WARP is categorized as Industrials Equities, while UFO is Global Equities. WARP tracks MarketVector Space Index, while UFO tracks S-Network Space Index. They also come from different issuers: VanEck and ProcureAM. Their fees differ too: 0.50% for WARP and 0.75% for UFO.