ETF Education Report: ROKT

The STATE STREET(R) SPDR(R) S&P KENSHO FINAL FRONTIERS ETF (ROKT) is designed to invest in companies operating in "final frontier" industries. Based on the data, this ETF is characterized by strong price growth over the last few years and a very low distribution yield.

What this ETF is trying to do

ROKT invests in a portfolio of 38 companies. Its strategy focuses on specialized industries, including aerospace, defense, and energy technology. Because it focuses on these specific sectors, it provides investors with exposure to companies that operate in challenging or advanced environments.

What the numbers show

The ETF has seen significant growth in its share price. As of October 9, 2026, the current price is $103.48.

• Price Return: This measures only the change in the share price. The one-year price return is 28.55%, and the three-year price return is 159.85%.

• Total Return: This reflects the overall return, including distributions. The one-year total return is 28.81%, and the three-year total return is 164.00%.

• Estimated Starting Price: The estimated price from roughly one year ago was $80.50.

Income and Distribution Explanation

ROKT provides a small amount of cash income to investors. It usually pays distributions quarterly, with four payments made in the last 12 months.

The distribution yield is 0.20%. For new investors, it is important to know that a low yield means this fund is not designed for high current income. Instead, the data shows that the majority of the returns have come from the increase in the share price rather than cash payments.

NAV Erosion Explanation

"NAV erosion" happens when the net asset value of a fund's holdings declines over time. The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, looking at price-based evidence, the erosion score is 100, and the label states "No price erosion detected." The severe erosion-risk flag is false, meaning the price trend has remained healthy.

Top Holdings

The portfolio is diversified across several companies. As of October 12, 2026, the top holdings include:

• Oceaneering International Inc (4.35%)

• Forum Energy Technologies Inc (4.27%)

• RTX Corp (3.87%)

• Ducommun Inc (3.69%)

• Lockheed Martin Corp (3.55%)

Pros

• Strong historical price growth over one, three, and five years.

• No price erosion detected according to the erosion score.

• High income rating grade (A+).

Cons

• Very low distribution yield for those seeking regular cash income.

• Concentrated in specific sectors like defense and aerospace.

Beginner Takeaway

ROKT is a fund focused on growth in specialized industries. While it pays a small quarterly distribution, its primary value has historically come from the increase in its share price. It is not a high-income fund, but it has shown strong total returns over the last few years.