Meet the Vanguard ETF That Increased Its SpaceX Holding by 39% in 1 Month and Shows No Signs of Slowing Down

Several exchange-traded funds (ETFs) have gradually increased their positions in Space Exploration Technologies (NASDAQ: SPCX) as additional shares have been unlocked. But the Vanguard Communication Services ETF (NYSEMKT: VOX) has been one of the most aggressive buyers.

When SpaceX held its initial public offering on June 12, 2026, only about 5% of shares were available for trading on the Nasdaq . As more shares are unlocked and sold , the number of shares available for trading by the public -- known as the float -- increases. So does SpaceX's weighting in indexes like the Nasdaq-100 , which weights SpaceX based on a multiple of its float rather than its market cap until the float is big enough.

Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we're only at the end of "Act 1", the R&D phase. "Act 2" is the global rollout. Continue »

Because of SpaceX's gradual unlocking, many ETFs have continued to buy SpaceX regardless of its share price, although some ETFs have slowed their purchases of SpaceX in recent months.

Here's why the Vanguard Communications Services ETF will likely continue loading up on SpaceX stock and why it's one of the best ETFs to buy for exposure to SpaceX.

Several major Vanguard ETFs have been buying SpaceX, including the Vanguard Morningstar Total Stock Market ETF , the Vanguard Total World Stock ETF , and the Vanguard Morningstar Growth ETF . As of Aug. 31, SpaceX hasn't even cracked the top 50 holdings in the Vanguard Growth ETF, the top 100 in the Vanguard Total Stock Market ETF, or the top 200 in the Vanguard World Stock ETF.

That's even though SpaceX's market cap is $2 trillion at the time of this writing -- making it one of the 10 most valuable companies in the world. SpaceX will make up a larger share of these ETFs as its float increases. But for now, it remains a small holding.

The pace of buying in the Vanguard Communication Services ETF has been much faster. As of June 30, the ETF held 632,077 shares, which jumped to 842,835 as of July 31 and to 1,170,398 as of Aug. 31. That's a 38.9% month-over-month increase and an 85.2% increase in two months. SpaceX is now the eighth-largest holding in the fund. As more shares are unlocked, SpaceX could easily become a top-three holding.

Sector funds like the Vanguard Communication Services ETF offer investors one of the best ways to build a portfolio around a handful of stocks. Major players can dominate a sector ETF in ways that simply aren't possible when all sectors are lumped together, like in the Vanguard Growth ETF, which includes top growth stocks from all the sectors.

As you can see in the table, every Vanguard sector ETF except for industrials has a higher concentration in just two companies than the Vanguard S&P 500 ETF . And the Vanguard Communication Services ETF has the highest combined weighting in just two stocks.

Vanguard classifies SpaceX exclusively in the communications sector, which means it isn't in the other 10 sector ETFs. And because Alphabet, Meta Platforms, and SpaceX are so large compared to other communication services stocks -- such as streaming, legacy media, and telecommunications companies -- SpaceX will probably make up around 15% to 20% of the ETF once it is weighted by its full market cap. That's a far larger weighting than SpaceX will have in the Nasdaq-100, S&P 500 (when it likely joins in summer 2027), or growth ETFs that include all sectors.

SpaceX will evolve the Vanguard Communications Services ETF from a dynamic duo of Alphabet and Meta Platforms to a big three that includes SpaceX. It also makes the ETF appealing to both growth and value investors, as the communication sector offers exposure to new markets like artificial intelligence and robotics, while also including many cash-cow businesses that pay growing dividends.

All told, the Vanguard Communication Services ETF stands out as the best ETF to buy for investors looking to build a position around Alphabet, Meta Platforms, and SpaceX. It's an especially good buy for investors who want to see the ETF's SpaceX weighting increase rapidly, rather than buy an ETF that is acquiring SpaceX shares at a much slower pace.

Before you buy stock in Vanguard World Fund - Vanguard Communication Services ETF, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard World Fund - Vanguard Communication Services ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $387,158 !* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,365,749 !*

Now, it's worth noting Stock Advisor's total average return is 932%, a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor , and join an investing community built by individual investors for individual investors.