SPCX

Satellite Connectivity Challengers — SpaceX-Rival Broadband & Data Index (Conviction-Tilted)

The benchmark itself: $2.14T cap, 91.9% YoY revenue growth and 51.9% gross margin — the only listed pure-play at Starlink scale. Anchors the index at the 22% cap because it is the incumbent every other holding is measured against.