Sprott Active Metals & Miners ETF
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As of September 12, 2025
NAV
$19.97
NAV Daily Change
-$0.15
-0.75%
NAV Since Inception Cumulative Change1
1.01%
Ticker
METL
Market Price2
$20.09
Premium/Discount3
0.60%
Total Net Asset Value
$2.99 Million
Net Total Expense Ratio4
0.89%
Overview
Key Points
- Actively Managed by a Global Leader – Sprott Asset Management has over four decades of specialized leadership in metals and mining investments.
- Value of Active Management in Miners – Given the operational complexities of mining and the cyclical nature of individual commodities, investors may benefit from a specialized, value-oriented perspective focused on business fundamentals and macroeconomic outlook. Active management seeks to mitigate risk, provide strategic flexibility and capitalize on informed engagement in niche markets.
- A Dynamic Portfolio of Metals – METL portfolio managers have the flexibility to invest in equities associated with a wide range of metals that they believe may generate attractive returns from operations and provide exposure to specific metals potentially positioned for outperformance based on market and global supply-demand conditions.
- The Flexibility of an Active ETF – METL combines the daily transparency, liquidity and potential tax efficiency of an ETF with the expertise of active management.
Investment Focus
Sprott Active Metals & Miners ETF (Nasdaq: METL) is an actively managed ETF that aims to provide long-term capital appreciation by investing in companies across the metals and mining industry lifecycle, including miners, recyclers, and royalty and streaming companies associated with commodities that are in high global demand. The Fund’s investment strategy is value-oriented and contrarian.
Key Facts
Ticker
METL
Listing Exchange
Nasdaq
Benchmark Index
M1WDS1PI
ISIN
Show ISIN
ISIN: US85208P8573
Copyright 2025, American Bankers Association. CUISP Database provided by FactSet Research Systems Inc. All rights reserved.
CUSIP
Show CUSIP
CUSIP: 85208P857
Copyright 2025, American Bankers Association. CUISP Database provided by FactSet Research Systems Inc. All rights reserved.
Inception Date
September 9, 2025
Adviser
Sprott Asset Management USA, Inc.
Sub-Adviser
ALPS Advisors, Inc.
Distributor
ALPS Distributors, Inc.
Fees & Expenses4
| Management Fee | 0.89% |
| Other Expenses | 0.00% |
| Total Annual Fund Operating Expenses | 0.89% |
ETF Fund Details
September 12, 2025
Total Net Assets
$2,994,784.65
Shares Outstanding
150,000
Number of Holdings
34
Median 30 Day Bid Ask Spread
(As of 8/5/2025)
0.40%
Performance
Data Not Yet Available
| Fund | 1M0^ | S.I.1 |
| Sprott Active Metals & Miners ETF (Net Asset Value) |
-- | -- |
| Sprott Active Metals & Miners ETF (Market Price)2 |
-- | -- |
| MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index)5 |
-- | -- |
Performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be higher or lower than actual data quoted. Call 888.622.1813 or visit www.sprottetfs.com for current month end performance. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
1 Inception Date: 9/9/2025.
2 Market Price is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.
3 The Premium/Discount is the amount (stated in dollars or percent) by which the selling or purchase price of an ETF is greater than (premium) or less than (discount) its face amount/value or net asset value (NAV).
4 Reflects Total Annual Operating Expenses as outlined in the most recent prospectus. For the services the Adviser (Sprott Asset Management USA, Inc.) provides to the Fund, the Adviser is entitled to receive an annual advisory fee from the Fund calculated daily and paid monthly at an annual rate of 0.89% of net assets.
5 The MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index is intended to track the overall performance of companies involved in the
metals and mining industry, excluding those associated with gold and silver mining. One cannot invest directly in an index.
Market Price vs. Net Asset Value Since Inception
Data Not Yet Available
Historical Premium/Discount: Market Price to Net Asset Value
Data Not Yet Available
Portfolio Analytics
Portfolio Characteristics*
As of 9/9/2025
| Number of Issuers | 34 |
| Market Cap (millions) | $322,361 |
| Weighted Avg. Company Market Cap (millions) | $11,371 |
| Market Cap Breakdown | |
| Large (>$10B) | 37.85% |
| Medium ($2 -$10B) | 26.60% |
| Small (<$2B) | 35.55% |
| Industry Weightings††† | |
| Copper Equities | 24.66% |
| Uranium Equities | 22.25% |
| Steel and Iron Ore Equities | 14.75% |
| Silver Equities | 12.67% |
| Other Equities | 9.71% |
| Rare Earth Equities | 7.37% |
| Lithium Equities | 5.76% |
| Drilling Equities | 2.84% |
††† Reflects equities classified by Sprott Asset Management
Company Domicile Breakdown*
As of 9/9/2025
* Excludes cash
Holdings
As of 9/12/2025
| Security | Market Value | Symbol | SEDOL | Quantity | Weight |
|---|---|---|---|---|---|
| Uranium Energy Corp. | $135,496.05 | UEC | B0VLLY2 | 11,415 | 4.52% |
| Ivanhoe Mines Ltd. | $124,390.19 | IVN CN | BD73C40 | 13,560 | 4.15% |
| Endeavour Silver Corp. | $122,385.45 | EXK | B018TM7 | 19,965 | 4.09% |
| Cameco Corp. | $121,851.60 | CCJ | 2158684 | 1,560 | 4.07% |
| Nucor Corp. | $118,734.00 | NUE | 2651086 | 840 | 3.96% |
| Reliance Inc. | $117,741.60 | RS | 2729068 | 405 | 3.93% |
| NexGen Energy Ltd. | $114,996.35 | NXE CN | B987K72 | 15,105 | 3.84% |
| Lynas Rare Earths Ltd. | $114,137.67 | LYC AU | 6121176 | 11,910 | 3.81% |
| Vizsla Silver Corp. | $109,120.30 | VZLA CN | BS84LB7 | 28,185 | 3.64% |
| Wheaton Precious Metals Corp. | $105,568.06 | WPM CN | BF13KN5 | 990 | 3.53% |
| Denison Mines Corp. | $104,552.55 | DNN | B0122F3 | 44,115 | 3.49% |
| Steel Dynamics Inc. | $101,907.00 | STLD | 2849472 | 780 | 3.40% |
| Freeport-McMoRan Inc. | $100,620.00 | FCX | 2352118 | 2,250 | 3.36% |
| ERO Copper Corp. | $99,637.40 | ERO CN | BF02Z72 | 5,895 | 3.33% |
| MP Materials Corp. | $99,075.60 | MP | BN15Y35 | 1,560 | 3.31% |
| Hudbay Minerals Inc. | $92,636.06 | HBM CN | B05BDX1 | 6,840 | 3.09% |
| Pan American Silver Corp. | $92,433.60 | PAAS | 2703396 | 2,520 | 3.09% |
| Champion Iron Ltd. | $91,352.71 | CIA AU | BLD1SB3 | 30,525 | 3.05% |
| Cia de Minas Buenaventura SAA | $90,315.00 | BVN | 2210476 | 4,500 | 3.02% |
| ATALAYA MINING COPPER SA | $88,042.34 | ATYM LN | BYZTVM8 | 12,090 | 2.94% |
| Major Drilling Group International Inc. | $86,657.52 | MDI CN | 2557515 | 12,180 | 2.89% |
| Paladin Energy Ltd. | $86,323.15 | PDN AU | 6668468 | 16,770 | 2.88% |
| Aya Gold & Silver Inc. | $79,320.85 | AYA CN | BK94091 | 6,885 | 2.65% |
| GoGold Resources Inc. | $77,962.19 | GGD CN | B60BNP0 | 40,425 | 2.60% |
| Lundin Mining Corp. | $76,004.04 | LUN CN | 2866857 | 6,420 | 2.54% |
| Atex Resources Inc | $65,251.54 | ATX CN | BJLHNG9 | 36,135 | 2.18% |
| Foran Mining Corp. | $62,701.18 | FOM CN | 2355731 | 26,385 | 2.09% |
| Sociedad Quimica y Minera de Chile SA | $55,400.40 | SQM | 2771122 | 1,320 | 1.85% |
| Lithium Argentina AG | $54,903.60 | LAR | BS2CSN8 | 18,180 | 1.83% |
| Bannerman Energy Ltd. | $46,093.34 | BMN AU | B07DXJ1 | 20,325 | 1.54% |
| Sovereign Metals Ltd | $29,772.75 | SVM AU | B1H34T5 | 67,830 | 0.99% |
| IGO Ltd. | $26,799.39 | IGO AU | 6439567 | 9,285 | 0.89% |
| Sigma Lithium Corp | $26,049.59 | SGML CN | BNKJ1Y8 | 4,815 | 0.87% |
| Boss Energy Ltd. | $24,905.40 | BOE AU | B1XLCQ6 | 21,900 | 0.83% |
| Cash Equivalent | $51,646.18 | $51,646.18 | 1.75% |
34 total, excluding cash and cash equivalents. Subject to change.
Distributions
Ex-Date |
Record Date |
Payable Date |
Short-Term Capital Gains |
Long-Term Capital Gains |
Ordinary Income |
Total Distributions |
- |
- |
- |
- |
- |
- |
- |
Investment Team
Literature
Fact Sheet
Investor Presentation
Regulatory Documents
News and Press Release
Commentary
Copper Fundamentals Prevail After Tariff Turmoil
BY JACOB WHITE · 9/08/2025
Copper rallied in August, with junior copper miners taking top performance honors. Policy momentum is accelerating as copper gains critical minerals status and attracts major investment. Copper miners are enjoying strong margins as copper demand rises to support electrification, AI and defense.
Critical Materials Breakout into a New Bullish Phase
BY PAUL WONG · 8/22/2025
The convergence of national security imperatives, energy transition policies and evolving trade dynamics is fundamentally redefining the role of critical minerals. The breakout in the Nasdaq Sprott Critical Materials Index™ is an early signal of this shift, reflecting technical strength and deep structural drivers.
Silver Investment Outlook Mid-Year 2025
BY MARIA SMIRNOVA · 7/21/2025
Silver gained nearly 25% through mid-year, and continues to rise in July, as supply remains tight and demand accelerates. With silver crucial to new technologies, the metal is benefiting from powerful structural tailwinds and renewed interest from investors.
Uranium’s Mid-Year Momentum
BY JACOB WHITE · 7/10/2025
Uranium spot prices jumped nearly 10% in June and uranium miners surged, supported by renewed inflows and global pro-nuclear policy momentum. With AI data centers adding a long-term demand driver, we believe uranium’s structural bull case remains intact.
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Contact Us
Investment Adviser
Sprott Asset Management USA, Inc.
320 Post Road, Suite 230
Darien, CT 06820
Telephone: 888.622.1813
Distributor and Sub-Adviser
ALPS
1290 Broadway, Suite 1100
Denver, CO 80203
Client Services
Financial Advisors and Investors
Telephone: 888.622.1813
Email: bullion@sprott.com
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