ETF’s Q2 Soars 27.45% with $135M SpaceX Gains, Caps $1B Inflows
XOVR•The ERShares Private-Public Crossover ETF returned 27.45% in Q2 2026, led by $135 million in unrealized gains from its $387 million SpaceX stake, 18% of its $2.2 billion AUM. In June, SpaceX added $84 million—75% of the 5.30% monthly return—and the fund limited about $1 billion of inflows to curb dilution.
1. Q2 Performance Highlights
The ETF generated a 27.45% return in Q2 2026, fueled by $135 million of unrealized appreciation on its SpaceX position. This marks one of the largest quarterly gains since inception, showcasing the impact of integrating private equity exposure into an ETF structure.
2. June Performance Attribution
In June, the fund delivered a 5.30% return, with SpaceX contributing $84 million—approximately 75% of the monthly gain—despite major large-cap growth benchmarks falling as much as 2.68%. This divergence highlights the differentiated valuation cycle of its private holdings versus public equities.
3. AUM Growth and SpaceX Exposure
Assets under management surged from $400 million to $2.2 billion over the quarter as investor demand accelerated. SpaceX exposure stood at $387 million, or 18% of AUM, maintained through targeted additional purchases to offset potential dilution from rapid asset growth.
4. Shareholder Protection Plan Details
A shareholder protection plan was enacted to limit roughly $1 billion of new inflows ahead of the SpaceX IPO, preserving a 14% pre-IPO exposure. This measure aimed to safeguard existing investors by managing dilution risk associated with significant private company holdings.
