SPADE Indexes
We Develop Benchmarks
Employing Best Index Practices to Design, Develop, and Manage Indexes for ETFs and other Funds.
About
SPADE Indexes was founded by Scott Sacknoff in 2004 to develop and manage sector, thematic, and regional equity indexes that could be used to benchmark markets for the ETF market. On 2 October 2026, SPADE Indexes was acquired by VettaFi, a subsidiary of TMX Group.
Our flagship product is The SPADE® Defense Index, a modified capitalization-weighted index comprised of publicly traded companies designed to benchmark the performance of firms systematically important to defense, national/homeland security, aerospace, and government space.
With historical data back to 30 December 1997, it covers all aspects of the sector…infrastructure as well as services, IT and cyber activities, and support; adapting to changes in military strategy, activities, and philosophy. Index values are distributed by NYSE/ICE Data Services under the ticker “DXS”. The Invesco Aerospace & Defense ETF, designed to track the SPADE Defense Index, trades under the ticker “PPA”. To learn more about our Defense Index, click here.
Our Team
Scott Sacknoff
For more than 30 years, Scott has bridged the worlds of defense, space, and investing–activities ranging from venture capital to building experimental Space Shuttle engines to analyzing future defense sector opportunities. As a market sector analyst, his clients have included the US Department of Defense, NASA, ITT, General Dynamics, Raytheon, and consulting firms like KPMG and AT Kearney.
For the past 20+ years, Mr. Sacknoff has designed and managed equity indexes for investment products, with total AUM tracking his products peaking at $8.8 Billion. Trained by the indexing staff at the American Stock Exchange, Mr. Sacknoff has developed indexes related to defense, cyberprotection, space, impact investing, states/regions, as well as sector rotation models. He is a graduate of Rensselaer Polytechnic Institute and the International Space University.
We Develop
and Manage
- Sector Indexes
- Regional Indexes
- Thematic Indexes
- Technical Strategies
Index Benchmarks for Equity Investment Products
Licensing
- A license is required for institutions that offer index-linked financial product(s).
- Licenses are also required by organizations selling commercial products tracking or based upon this Index.
- Parties interested in licensing an existing index or have a new, custom index created should contact Scott Sacknoff at Tel: 202-596-1812 or via email at: info@spadeindex.com
- A license is not required for media use in articles or by companies seeking a benchmark to compare their performance with that of the index in press releases, annual reports, or in other regulatory documents.
Our Indexes
Equity Indexes
| Index Name | Index Ticker | ETF Licensor | ETF Ticker |
|---|---|---|---|
| SPADE Defense Index | DXS | Invesco Aerospace & Defense ETF | PPA |
| SPADE Impact Index | |||
| SPADE Space & Satellite Index | |||
| SPADE Security Index |
Available for Licensing
Methodologies
TrueCap™
Developed in 2021, SPADE Indexes developed the TrueCap™ overlay in order to resolve a problem faced by sector and thematic indexes—namely, how to handle highly diversified firms without compromising the “pure play” nature of an index benchmark, ie one that provides exposure to a particular single market segment.
Assigning a TrueCap™ overlay factor enables an index to more accurately reflect the weightings assigned to highly diversified firms by focusing on the relevant business activity within a sector/theme and enhances indexes by resolving issues related to overweighting highly diversified firms operating in the space.
TrueCap is available for third-party licensing for indexes and ETF and equity fund products.
Available for Licensing
Legal and Disclaimers
VettaFi, a subsidiary of the TMX Group, is the owner of the trademarks, service marks, and copyrights related to the SPADE Indexes and this website. SPADE®, SPADE® Indexes, and “The SPADE® Investor” newsletter are all registered trademarks of SPADE Indexes.
Invesco® is a registered trademark of Invesco Ltd.
This website does not constitute an offer of an investment product. SPADE Indexes makes no representation regarding the advisability of investing in vehicles based on its indexes. Read More…