April has been one of the most volatile months in history for the stock market, amid tariffs

and trade-induced uncertainty.

Aerospace and defense stocks have not been immune, but those boasting big backlogs of business

have proven to be safe havens for investors as government spending continues to grow for space

initiatives, and not just in the U.S.

So historically for space companies, government spending, defense spending, has been extremely helpful

and has provided some kind of baseline revenues for a lot of space companies in your larger,

more diversified aerospace of defense names.

But it's also really important to see that the commercial side of space is also expanding.

So companies now have the ability to be able to be a solely commercially fit focused,

solely government focus, or a hybrid.

And companies that are able to weather the storms better may be those that are positioned

to not just be reliant on any one spending group.

Andrew Chanon is the co-founder and CEO of Procure AM.

The firm stood up the first ever exchange-traded fund fully dedicated to space stocks back in 2019.

Top holdings in the UFO procure space ETF include rocket lab, intuitive machines,

Sirius XM, and defense contractors like L3 Harris and Lockheed Martin.

The fund rebalances every quarter.

On this episode, the father of space ETFs discusses the investing landscape, the space economy, and

where he sees opportunity in all the tumult right now. I'm Morgan Brennan, and this is

Manifest Space. You look across the markets and you look at sectors like space and defense.

What are you thinking right now? You know, there's been so much news,

...