Something big is about to happen to millions of Australian investment portfolios.

Space Exploration Technologies Corp (NASDAQ: SPCX) is expected to be included in the Nasdaq-100 index this week, less than a month after its 12 June listing.

The inclusion is driven by the Nasdaq-100’s fast-track rules for extraordinarily large listings. This allows a company to be added to the index far more quickly than the standard schedule if its market cap is large enough to justify it.

SpaceX, now trading at US$160 per share at a valuation exceeding US$2 trillion, clearly meets that threshold.

For Australian investors, the implications are more direct than many realise.

What Nasdaq-100 inclusion actually means

The Nasdaq-100 is not just a list of large technology companies. Instead, it is the benchmark that underpins hundreds of billions of dollars in index-tracking funds and ETFs around the world.

When SpaceX joins that index, every fund that tracks the Nasdaq-100 must buy SpaceX shares, mechanically and at scale, regardless of what any portfolio manager thinks of the company’s valuation.

Estimates suggest between US$22 billion and US$27 billion in mechanical index buying will be required across QQQ and Russell 1000 trackers once the inclusion becomes effective.

What inclusion means for NDQ holders

The most direct impact for Australian retail investors is felt through the Betashares Nasdaq 100 ETF (ASX: NDQ). NDQ is one of the most widely held ETFs in Australia.

Anyone who owns NDQ, or other ASX-listed US-focused ETFs including the Vanguard MSCI Index International Shares ETF (ASX: VGS) and the iShares S&P 500 ETF (ASX: IVV), will own SpaceX shares once the inclusion is effective.

That happens automatically, without the investor needing to do anything.

For investors who want Nasdaq-100 exposure and are comfortable with SpaceX as a holding, NDQ remains the simplest and most liquid way to access that index from the ASX.

For investors who are concerned about SpaceX’s valuation or its GAAP losses, it is worth noting that the inclusion means they will own SpaceX whether they want to or not.

What inclusion means for RCKT holders

For the Betashares Space Industry ETF (ASX: RCKT), index inclusion has come even faster.

SpaceX has already been included in RCKT following the fund’s fast-track inclusion feature. This allowed SpaceX to enter the Solactive Space Industry Index far more quickly than standard timelines would normally permit.

SpaceX now represents 25.9% of the RCKT portfolio, making it the fund’s single largest holding by a wide margin.

That means RCKT holders already own a meaningful and direct slice of SpaceX, alongside the fund’s 28 other holdings across the global space economy. Rocket Lab and AST SpaceMobile remain as the next two largest positions.

For investors who want concentrated and thematic exposure to the space economy, RCKT now offers something NDQ cannot: a dedicated space fund with SpaceX as its dominant holding.

The trade-off remains that RCKT is a smaller, less liquid fund with a higher management fee of 0.57% per annum compared to NDQ’s 0.22%.

What inclusion means for superannuation investors

Beyond direct ETF holdings, the Nasdaq-100 inclusion has implications for the millions of Australians whose superannuation funds allocate to international shares.

The vast majority of Australian super funds allocate a large portion of their international shares exposure to US equities. Those allocations typically include the largest companies in the US market.

Once SpaceX is in the Nasdaq-100, it becomes a holding in most institutional portfolios that benchmark against that index.

For most superannuation members, that exposure will be small relative to the overall portfolio. But it will exist, automatically, without any action required.

The risk worth understanding

SpaceX is not a conventionally profitable company.

The company posted a GAAP net loss of US$4.94 billion in 2025. This was driven by losses in the xAI and Space divisions that offset the Starlink connectivity business’s profitability.

A company trading at US$2 trillion with significant GAAP losses is a demanding proposition even for investors who are excited about the long-term Starlink and space economy opportunity.

Nasdaq-100 inclusion forces index-tracking funds to own it regardless.

Foolish takeaway

SpaceX joins the Nasdaq-100 this week. Millions of Australian investors will automatically own a piece of the world’s most valuable space company through their ETFs and super funds.

For both RCKT and NDQ holders, exposure arrives without any further action required.

Whether SpaceX at US$2 trillion is a good investment is a separate question.

The post SpaceX will be included in the Nasdaq index this week. Here’s what that means for ASX investors appeared first on The Motley Fool Australia.

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• Why I think these Vanguard ETFs are perfect buy and hold investments
• Why is the SpaceX stock price trading higher?

Motley Fool contributor Mark Verhoeven has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Nasdaq 100 ETF and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Vanguard Msci Index International Shares ETF and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It has been a tough year for ASX financials stock HUB24 Ltd (ASX: HUB).

Year to date, its share price is down over 15%.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has climbed just over 1% in the same period.

However, this ASX financials stock closed last week with a strong 6% gain on Friday, which could be the beginning of a rebound for HUB24 shares.

The team at Bell Potter has retained its buy recommendation on this ASX financials stock and laid out the potential for a big return in the next 12 months.

Here’s what the broker had to say. 

Quarter update

Hub24 is a diversified financial services business. The company’s core platform segment develops and provides an administrative services platform to financial advisers, stockbrokers, accountants, and their clients.

Bell Potter updated its financial model after a strong June quarter for global investment markets.

Since HUB24’s platform fees are linked to the value of client investments, stronger markets increase funds under administration (FUA) and future revenue expectations.

Bell Potter slightly increased its FUA forecasts for FY2026–FY2028 but left earnings per share (EPS) forecasts unchanged.

Strong Recovery in Global Markets

After a weak start earlier in the year, global share markets rebounded strongly and reached new record highs.

The biggest gains came from the US, while Europe also performed well.

Australia’s market rose but lagged behind most major markets, with the ASX 200 gaining 3.5% over the quarter.

What does this mean for this ASX financials stock?

Bell Potter expects HUB24 to report around $4.1 billion of net new client inflows for the quarter, plus $6.3 billion from investment market gains.

Together, these factors should lift total funds under administration. If quarterly inflows are closer to $5 billion, it would signal that growth has returned to its previous pace and could be positive for the share price.

Based on this update, Bell Potter has retained its buy recommendation and $110 price target on this ASX financials stock.

From Friday’s closing price of just over $81, this indicates an upside potential of almost 36%.

Our Buy recommendation is unchanged. While lumpy, the company delivered record net adviser additions and consistent new distribution agreements, providing material growth runway, and guidance is de-risked through mark-to-markets.

The share price has fallen -32% from the November peak, despite earnings upgrades and further positive adjustments still yet to flow through.

 

 

 

The post Why this ASX financials stock is tipped to rebound 35% in the back half of 2026 appeared first on The Motley Fool Australia.

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• 2 quality ASX 200 shares at 52-week lows to buy now

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The turnaround has been sharp.

The S&P/ASX 200 Health Care Index (ASX: XHJ) hit a nine-year low on 3 June 2026, having fallen 39% over the prior twelve months.

Since then, the index has risen by 21% in just one month, compared with a 0.7% rise in the broader S&P/ASX 200 (ASX: XJO) index over the same period.

CSL Ltd (ASX: CSL), Cochlear Ltd (ASX: COH), and ResMed Inc (ASX: RMD) are all up.

The question is whether this recovery is real, or whether the sector has simply bounced from deeply oversold levels.

What drove the selloff in the first place

Understanding the recovery requires understanding what caused the fall.

Healthcare was the worst-performing sector of all eleven ASX 200 market sectors in FY26.

The sector was hit by a combination of factors specific to individual companies and broader macro forces.

A stronger Australian dollar eroded the offshore profits of CSL, which generates most of its revenue in the United States. Rising interest rates weighed on the valuations of high-multiple growth stocks across the sector. Earnings downgrades at CSL and Cochlear removed the premium earnings trajectory the sector had traded on for years. And a rotation toward energy and resources stocks pulled capital away from healthcare regardless of individual company fundamentals.

CSL: the most important recovery to watch

CSL is up 32% since 3 June, but remains down close to 50% over the past twelve months.

The FY26 result, due on 19 August 2026, will be the most important test of whether the recovery has earnings support or is simply a valuation rebound.

Management has pointed to improving Behring division revenue in the second half of FY26 as the key catalyst.

Morgans retains a buy rating on CSL with a price target of $147.59. However, the broker acknowledges that a sustained recovery in sentiment may take several quarters to fully materialise as the market waits for proof in the numbers.

ResMed: the most compelling valuation story

ResMed is up 18% since 3 June but remains at its lowest valuation in over a decade.

Morgans has retained its buy rating on ResMed with a price target of $41.72. The broker noted that the stock has de-rated to just 16 times forward earnings despite the market continuing to forecast double-digit earnings per share growth.

Morgans points out that while GLP-1 therapy risks exist, current industry data and operational performance continue to support the long-term investment case.

Q2 FY26 showed ResMed revenue rising 11% to $1.42 billion with net income up 14%, confirming the underlying business is growing strongly despite the macro noise.

Cochlear: the longest road back

Cochlear is up 31% since 3 June but remains the most deeply impaired of the three. Cochlear shares are still down approximately 52% year to date and 58% over twelve months.

The majority of brokers covering the stock still carry a hold rating, with the consensus price target of $137.10 implying only modest further upside at current levels.

Bell Potter’s Christopher Watt said that while near-term trading challenges persist, the long-term opportunity remains compelling. The broker added that until there is clearer evidence that volumes are stabilising, a more balanced stance is appropriate.

Is the recovery sustainable for ASX healthcare shares?

The honest answer is that the recovery has largely been driven by sector rotation rather than a genuine improvement in underlying fundamentals.

That matters because sector rotation can reverse just as quickly as it appears.

The August reporting season will be the real test.

CSL’s FY26 numbers, due 19 August, will either confirm that the Behring margin recovery is tracking as management described or force another round of earnings estimate cuts.

For investors who believe the long-term investment cases for CSL, ResMed, and Cochlear are intact, the current entry points, even after a 21% sector rally, look more attractive than anything available in the past five years.

For investors looking for a quick trade, the easy part of the recovery may already be done.

Foolish takeaway for ASX healthcare shares

ASX healthcare shares surged 21% in a month from a nine-year low.

CSL, ResMed, and Cochlear have all participated meaningfully in that recovery.

Whether the rally continues depends on the August reporting season delivering the earnings support that sector rotation alone cannot provide indefinitely.

The post ASX healthcare shares have jumped 21% since June. Can the recovery continue? appeared first on The Motley Fool Australia.

More reading

• After losing half their value, can CSL shares reclaim $275?
• 3 ASX shares down at least 50% in FY26
• Top brokers name 3 ASX shares to buy next week
• Healthcare shares lead the ASX 200 again as sector rotation gathers pace
• Buy, hold, sell: Objective Corp, ResMed, and South32 shares

Motley Fool contributor Mark Verhoeven has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Cochlear, and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL and Cochlear. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.