Meet the Vanguard ETF That Just Bought SpaceX for the 4th Consecutive Month

Since its public debut on June 12, 2026, shares of Space Exploration Technologies (SPCX) have been aggressively purchased by several exchange-traded funds (ETFs). However, the Vanguard Communication Services ETF (VOX) has stood out from the crowd by consistently adding SpaceX shares every month. As of September 30, VOX now owns 1,209,387 SpaceX shares, a significant increase from 1,170,398 shares in August and 632,077 shares in June.

Despite having a market cap of $1.93 trillion, SpaceX remains an under-represented holding in many growth-focused and general market ETFs due to the limited float of shares available for trading. SpaceX sold 639 million shares during its IPO and has unlocked about 2.3 billion shares in total, representing only 17.5% of its outstanding share count.

As more shares become unlocked, SpaceX's float will increase, leading to a higher float-adjusted weighting in the Nasdaq-100 index and ultimately in ETFs that use float-adjusted weighting systems.

VOX, being a sector-based fund, only invests in communication stocks, making it the only Vanguard sector ETF that includes SpaceX. Because SpaceX's market cap is so large, it would become a top-three holding in the ETF if weighted by market cap rather than float-adjusted. This factor has contributed to SpaceX's rapid ascension to the seventh-largest holding in VOX.

The Vanguard Communication Services ETF offers an attractive investment opportunity for those looking to build a portfolio centered around Alphabet, Meta Platforms, and SpaceX. Currently, Alphabet and Meta Platforms account for 47% of the fund. However, adding the full weight of SpaceX's market cap will further increase the fund's growth-oriented nature.

Despite the high-risk, high-reward nature of investing in SpaceX, the communications sector's strong focus on value-focused industries such as telecommunications and legacy media positions VOX well to capitalize on the potential growth of SpaceX.