Space is the place, and Ark Invest is transferring in.

The funding agency led by Cathie Wood has seen over half a billion {dollars} circulation into the Space Exploration and Innovation ETF (ARKX) it launched on March 30, with some analysts suggesting it might cross $1 billion in belongings in a matter of days.

Some of the fund’s investors might not absolutely notice what they’re getting themselves into, nonetheless, mentioned Todd Rosenbluth, senior director of ETF and mutual fund analysis at CFRA Research.

The fund’s spectacular inflows could also be “an indication that investors have curiosity in one thing Cathie Wood and workforce are going to handle, however I’m unsure they absolutely appreciated what they had been getting,” Rosenbluth advised CNBC’s “ETF Edge” this week.

Though ARKX is invested in purer performs on the house race equivalent to satellite tv for pc inventory Iridium Communications, its different holdings are a mosaic of old-line industrials, web firms and agriculture names, Rosenbluth mentioned.

As of Friday, its prime holdings had been geolocation firm Trimble, Ark’s personal 3D Printing ETF (PRNT), Kratos Defense and Security Solutions, L3Harris Technologies and JD.com. The ETF additionally owns shares of Netflix and agricultural firm Deere.

“Thematic ETF investing is commonly open to interpretation, and so, the best way that Ark describes its house ETF contains firms that can profit from aerospace actions or applied sciences used to help aerospace,” Rosenbluth mentioned.

That might embody Netflix and Deere, which Rosenbluth acknowledged would doubtless be long-term beneficiaries of the house race, however these come on the value of some probably vital exclusions, he mentioned.

“It’s not proudly owning firms that you just’d discover inside UFO, for instance, like Loral Space and Communications,” Rosenbluth mentioned, referring to Procure’s competing Space ETF.

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