How to Invest in Uranium ETFs (Updated 2024)

Total asset value: US$2.66 billion

The Global X Uranium ETF tracks a basket of uranium miners, as well as nuclear component producers. The fund has an expense ratio of 0.69 percent and has achieved a yearly return of 39.33 percent.

Uranium companies account for more than 70 percent of its holdings, and nearly half of those companies are Canadian. Interestingly, one of its top three holdings is the Sprott Physical Uranium Trust (TSX:U.U) at a weight of 9.01 percent.

Its other top holdings include major uranium producer Cameco (TSX:CCO,NYSE:CCJ) at a weight of 21.5 percent and NexGen Energy (TSX:NXE,NYSE:NXE) at 5.67 percent.

Total assets: US$1.68 billion

The Sprott Uranium Miners ETF includes both uranium producers and explorers for broader exposure. The fund has an expense ratio of 0.83 percent and a yearly return of 50.34 percent.

Small-cap stocks account for 37.82 percent of the ETF's holdings. Its top three holdings are: Kazatomprom (LSE:59OT,OTC Pink:NATKY) at 14.56 percent; the Sprott Physical Uranium Trust at 14 percent; and Cameco at 13.51 percent.

Total asset value: US$302.4 million

The Sprott Junior Uranium Miners ETF is a recent addition to the uranium ETF universe.

Launched in February 2023, it tracks the NASDAQ Sprott Junior Uranium Miners Index (INDEXNASDAQ:NSURNJ), which follows small uranium companies.

The fund's 34 constituents are all uranium mining, development or exploration companies, and its top holdings are Paladin Energy (ASX:PDN,OTCQX:PALAF) at 13.15 percent; NexGen Energy at 12.23 percent; and Uranium Energy (NYSEAMERICAN:UEC) at 11.24 percent. Its yearly return is 45.57 percent.

Total asset value: US$154.4 million

The VanEck Vectors Uranium + Nuclear Energy ETF launched in 2007 and tracks a market-cap-weighted index of stocks in the uranium and nuclear energy industries. Its expense ratio is 0.61 percent and its yearly return is 33.27 percent.

Large-cap companies account for nearly 43.9 percent of its holdings. Its top three holdings are Constellation Energy Group (NASDAQ:CEG) at a weight of 8.17 percent; PG&E (NYSE:PCG) at 7.76 percent; and Public Service Enterprise Group (NYSE:PEG), which comes in at 7.55 percent.

Total asset value: US$75.82 million

The Horizons Global Uranium Index ETF, created in 2019, was the first pure-play uranium ETF in Canada and provides exposure to uranium industry growth. The fund has an expense ratio of 0.99 percent and a yearly return of 58.9 percent.

Some of its top holdings are Cameco, which weighs in at 19.86 percent; Kazatomprom at a weight of 19.81 percent; and NexGen Energy, coming in at 7.23 percent.

Total asset value: US$6.06 billion

Of all the uranium-focused funds, this one has created the most buzz. Launched in July 2021, the Sprott Physical Uranium Trust quickly made its mark on the space, stoking investor interest and prices for the commodity. This fund has an expense ratio of 0.72 percent and a yearly return of 96.73 percent.

Total asset value: US$1.65 billion

Founded in 2018, Yellow Cake provides investment exposure to the uranium spot price through its physical holdings of uranium and uranium-related commercial activities. Yellow Cake’s current holdings total 20.16 million pounds of U3O8.

Yellow Cake’s access to material volumes of uranium at prevailing market prices comes via its long-term partnership with Kazatomprom. Through this partnership, it has the option to purchase up to US$100 million of uranium annually.