Harvest High Income Shares ETFs are nearing their two-year anniversary in August. Since launching the original four single stock ETFs, High Income Shares has expanded to offer exposure to more than 25 companies, including 10 Canadian High Income Shares.
On Monday, we launched the Harvest SpaceX Enhanced High Income Shares ETF (TSX: SPXE). SPXE provides access to the growth story of SpaceX, and is designed to generate monthly cash distributions through an active covered call writing strategy. It employs modest leverage of approximately 25% to bolster its monthly income and growth potential.
SpaceX the Company
SpaceX was founded by Elon Musk in 2002 with a mission to make humanity multiplanetary. Establishing a self-sustaining human civilization on more than one planet is one of many lofty goals that has powered the company to become a dominant commercial and cultural force. SpaceX accounted for 50% of global orbital launches in 2025. It has driven rocket launch costs down dramatically. It also operates Starlink, a satellite internet constellation serving more than 12 million customers across 100+ countries.
This exciting company sits at the intersection of defence, telecommunications, and deep space exploration. These are three of the largest and fastest-growing markets on earth. SpaceX boasts a Starship program designed to carry humans to Mars, a Pentagon partnership that spans national security launches, and an impressive valuation trajectory.
SpaceX Next-Generation Rockets
SpaceX’s rocket portfolio is built around a simple but powerful principle: reusability.
The Falcon 9 is the company’s most frequently flown orbital rocket. Its first-stage boosters are now flying upward of 20+ missions each. That feat has greatly shrank the cost of getting to orbit. Its triple-core sibling, the Falcon Heavy, handles the heaviest government and defence payloads. The Falcon Heavy is used for classified national security missions too large or sensitive for the Falcon 9.
Beyond the Falcon fleet, there is the Dragon spacecraft. This vehicle sits alongside the Falcon stable as SpaceX’s human and cargo delivery system. The Dragon is now on its tenth crewed mission under NASA’s Commercial Crew Program.
Then, there is the Starship, where the investor story gets generational. The most recent version of the Starship flies on dozens of next-generation Raptor 3 engines with upgraded avionics, test ports for an orbital refuelling system, and the capability to one day reach the Moon and even Mars.
SpaceX Human Mission to Mars
SpaceX has stated its ambitions plainly and pursued them just as relentlessly when it comes to Mars. The plan calls for five uncrewed Starships to lift off during the next Earth-Mars transfer window, touching down on the red planet carrying Tesla’s Optimus robots to being surveying resources and laying ground infrastructure.
If these landings go well, SpaceX aims for human missions to follow, likely in the early 2030s. Elon Musk’s long-term vision calls for an exponentially growing fleet dispatched every two years until Mars becomes self-sustaining.
From an investment perspective, the Mars program acts as a forcing function. The technology the mission demands has potential commercial value here on Earth. These include the advances made in orbital refueling, resource utilization, and robotics.
Musk has described a vision of eventually launching 1,000 to 2,000 ships to Mars every two years. Even if partially realized, this would represent the largest expansion of human industrial capacity since the Industrial Revolution.
SpaceX Starlink Revolution
Starlink has grown into the financial core of SpaceX. The connectivity business generated US$11.4 billion in revenue in 2025. That accounts for 50% revenue growth in the year-over-year period and represents over 50% of the company’s US$18.7 billion in revenue the previous year. That share rose to 69% in the first quarter of 2026.
The subscriber base for Starlink has grown from 1 million users in 2022 to over 12 million active customers across over 150 countries in early 2026. SpaceX has deliberately traded lower average revenue per user for explosive global volume. Total subscribers doubled between 2024 and 2025.
Blending Ambition with Income
The Harvest SpaceX Enhanced High Income Shares ETF (TSX: SPXE) invests all its assets in shares of SpaceX. SPXE provides access to the growth potential of the underlying company while overlying an active covered call writing strategy on up to 50% of the portfolio.
Moreover, SPXE applies modest leverage at around 25%. This enhances exposure to SpaceX, bolstering the ETF’s income and growth potential.
Units of SPXE are available in CAD. That means Canadian investors can invest SPXE in registered accounts like an RRSP or a TFSA. Moreover, SPXE is available at a lower purchase price of $12/unit, compared to the trading price of SpaceX stock, which launched at US$135 per share. Canadian investors get access to the exciting growth story of SpaceX at a lower purchase price, while also earning monthly income.
Summary
SpaceX has restructured the economics of an entire industry. The company has built the world’s fastest-growing telecom network from orbit and set its sights on making humanity multi-planetary.
The Harvest SpaceX Enhanced High Income Shares ETF (TSX: SPXE) is built for investors who want to access that potential growth story with monthly income. SPXE offers enhanced (leverage 25%) exposure to one of the most ambitious companies on the planet.
Disclaimer
Commissions, management fees and expenses all may be associated with investing in Harvest Exchange Traded Funds managed by Harvest Portfolios Group Inc. (the “Funds”). Please read the relevant prospectus before investing. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements in this communication constitute forward-looking statements (“FLS”). These statements are not historical facts but reflect the current expectations of Harvest, the Fund’s manager, regarding future results or events, and are subject to risks and uncertainties that could cause actual results to differ materially. Although Harvest believes the underlying assumptions are reasonable, FLS are not guarantees of future performance, and undue reliance should not be placed on them. Harvest undertakes no obligation to update or revise any FLS, except as required by law.
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