Sprott Uranium Miners Fund (NYSE Arca: URNM) seeks to invest at least 80% of its total assets in securities of the North Shore Global Uranium Mining Index (URNMX). The Index is designed to track the performance of companies that devote at least 50% of their assets to the uranium mining industry, which may include mining, exploration, development, and production of uranium, or holding physical uranium, owning uranium royalties, or engaging in other, non-mining activities that support the uranium mining industry. The URNMX Index is rebalanced semi-annually.
Sprott Uranium Report
The U3O8 uranium spot price climbed 6.01% in April, closing the month at $53.74. The U3O8 price reacted positively to China's bullish comments about its ambitious plans to expand its nuclear energy capacity to supply 18% of its electricity needs by 2060, up from 5% today.
| ETF Ticker | URNM |
| Listing Exchange | NYSE Arca |
| CUSIP | 85208P303 |
| ISIN | US85208P3038 |
| Fund Inception1 | December 3, 2019 |
| Index Rebalance Frequency | Semi-Annually in March & September |
| Adviser | Sprott Asset Management LP |
| Sub-Adviser | ALPS Advisors, Inc. |
| Distributor | ALPS Distributors, Inc. |
| Total Net Assets | $924,311,100.05 |
| Shares Outstanding | 27,435,000 |
| Number of Holdings | 37 |
| Median 30 Day Bid Ask Spread | na |
| Adviser | Sprott Asset Management LP |
| Sub-Adviser | ALPS Advisors, Inc. |
| Distributor | ALPS Distributors, Inc. |
| Management Fee | 0.83% |
| Other Expenses | 0.00% |
| Acquired Fund Fees and Expenses | 0.02% |
| Total Annual Fund Operating Expenses | 0.85% |
| Fund | 1 MO* | 3 MO* | YTD* | 1 YR | 3 YR | 5 YR | S.I.1 |
|---|---|---|---|---|---|---|---|
| Sprott Uranium Miners ETF (Net Asset Value) |
-2.87 | -10.00 | -5.10 | -11.66 | 32.54 | -- | 31.96 |
| Sprott Uranium Miners ETF (Market Price)2 |
-1.74 | -8.93 | -3.97 | -10.06 | 32.81 | -- | 32.39 |
| Northshore Global Uranium Mining Index (Benchmark)5 |
-2.85 | -10.00 | -4.93 | -10.93 | 33.63 | -- | 33.08 |
| Fund | 1 MO* | 3 MO* | YTD* | 1 YR | 3 YR | 5 YR | S.I.1 |
|---|---|---|---|---|---|---|---|
| Sprott Uranium Miners ETF (Net Asset Value) |
-6.69 | -1.61 | -1.61 | -25.21 | 51.10 | -- | 35.28 |
| Sprott Uranium Miners ETF (Market Price)2 |
-6.45 | -1.35 | -1.35 | -24.72 | 51.45 | -- | 35.36 |
| Northshore Global Uranium Mining Index (Benchmark)5 |
-6.74 | -1.48 | -1.48 | -24.68 | 52.15 | -- | 36.46 |
Past performance does not guarantee future results.
| CY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | |
|---|---|---|---|---|---|
| Days Traded at Premium | 114 | 37 | -- | -- | -- |
| Days Traded at Discount | 135 | 25 | -- | -- | -- |
As of 5/31/2023
| Number of Issuers | 37 |
| Market Cap (millions) | $30,638 |
| Weighted Avg. Market Cap (millions) | $3,962 |
| Market Cap Breakdown | |
| Large (>$10B) | 16.43% |
| Medium ($2 -$10B) | 13.99% |
| Small (<$2B) | 55.39% |
| Not Classified | 14.19% |
| Industry Weighting | |
| Uranium & Related Equities† | 81.35% |
| Physical Uranium †† | 18.65% |
†Reflects equities classified by the Bloomberg Industry Classification System(BICS) as uranium; solid waste collection & treatment; nickel, lead & zinc; base metals; mineral & precious stone mining; metals, ore wholesalers & traders.
†† Includes holdings focused on the physical ownership of uranium: Sprott Physical Uranium Trust and Yellow Cake PLC.
As of 5/31/2023
As of 6/08/2023
| Security | Market Value | ISIN | Symbol | SEDOL | Quantity | Weight |
|---|---|---|---|---|---|---|
| Cameco Corp. | $149,148,357.57 | CA13321L1085 | CCJ | 2158684 | 4,872,537 | 16.14% |
| NAC Kazatomprom JSC | $124,466,336.75 | US63253R2013 | KAP LI | BGXQL36 | 4,501,495 | 13.47% |
| Sprott Physical Uranium Trust | $119,412,675.92 | CA85210A1049 | U-U CN | BNZKG52 | 9,142,533 | 12.92% |
| NexGen Energy Ltd. | $45,322,879.77 | CA65340P1062 | NXE | BCH0BB4 | 10,277,297 | 4.90% |
| Energy Fuels Inc. | $45,128,086.74 | CA2926717083 | UUUU | BFV4XW8 | 7,029,297 | 4.88% |
| Denison Mines Corp. | $44,740,183.18 | CA2483561072 | DNN | B0122F3 | 36,975,358 | 4.84% |
| Paladin Energy Ltd. | $42,011,626.94 | AU000000PDN8 | PDN AU | 6668468 | 92,012,259 | 4.55% |
| Boss Energy Ltd. | $41,102,229.15 | AU000000BOE4 | BOE AU | B1XLCQ6 | 19,746,439 | 4.45% |
| Yellow Cake PLC | $39,957,030.05 | JE00BF50RG45 | YCA LN | BF50RG4 | 7,554,459 | 4.32% |
| CGN Mining Co. Ltd. | $39,041,091.92 | KYG2029E1052 | 1164 HK | B755514 | 336,210,300 | 4.22% |
| Uranium Energy Corp. | $36,356,738.52 | US9168961038 | UEC | B0VLLY2 | 11,505,297 | 3.93% |
| Global Atomic Corp. | $21,933,069.76 | CA37957M1068 | GLO CN | BF11BK3 | 10,098,666 | 2.37% |
| Deep Yellow Ltd. | $20,131,854.99 | AU000000DYL4 | DYL AU | 6480275 | 42,228,976 | 2.18% |
| Fission Uranium Corp. | $18,150,092.63 | CA33812R1091 | FCU CN | B94QMQ6 | 38,468,113 | 1.96% |
| Encore Energy Corp. | $15,941,352.92 | CA29259W7008 | EU CN | BN48958 | 6,099,052 | 1.72% |
| Ur-Energy Inc. | $15,118,958.76 | CA91688R1082 | URG | B0WW4L2 | 14,129,868 | 1.64% |
| IsoEnergy Ltd. | $13,565,566.26 | CA46500E1079 | ISO CN | BD5FYX1 | 5,938,827 | 1.47% |
| Lotus Resources Ltd. | $9,346,185.94 | AU0000058737 | LOT AU | BK6XLC1 | 75,239,828 | 1.01% |
| Bannerman Energy Ltd. | $8,483,817.34 | AU000000BMN9 | BMN AU | B07DXJ1 | 8,423,356 | 0.92% |
| Peninsula Energy Ltd. | $8,374,513.08 | AU000000PEN6 | PEN AU | 6486381 | 69,290,256 | 0.91% |
| Uranium Royalty Corp. | $8,136,855.27 | CA91702V1013 | URC CN | BKMD921 | 3,720,800 | 0.88% |
| Berkeley Energia Ltd. | $7,060,195.39 | AU000000BKY0 | BKY LN | B1KZDW4 | 22,489,264 | 0.76% |
| Consolidated Uranium Inc. | $5,637,213.11 | CA21024C1014 | CUR CN | BN75T23 | 5,376,492 | 0.61% |
| F3 Uranium Corp. | $4,632,593.76 | CA30330R1082 | FUU CN | BPRSXG8 | 18,464,689 | 0.50% |
| Alligator Energy Ltd. | $4,473,655.03 | AU000000AGE2 | AGE AU | B55ZH25 | 185,073,866 | 0.48% |
| GoviEx Uranium Inc. | $3,995,042.43 | CA3837981057 | GXU CN | BNGCT03 | 35,562,536 | 0.43% |
| Aura Energy Ltd. | $3,788,221.04 | AU000000AEE7 | AEE AU | B14Z2S9 | 30,496,408 | 0.41% |
| Laramide Resources Ltd. | $3,770,968.77 | CA51669T1012 | LAM CN | 2507952 | 11,709,735 | 0.41% |
| Forsys Metals Corp. | $3,726,826.04 | CA34660G1046 | FSY CN | 2597801 | 10,701,601 | 0.40% |
| Elevate Uranium Ltd. | $3,257,864.28 | AU0000156416 | EL8 AU | BM8ZH21 | 14,929,138 | 0.35% |
| Baselode Energy Corp. | $2,953,712.08 | CA0698251075 | FIND CN | BLPJL27 | 9,390,343 | 0.32% |
| Mega Uranium Ltd. | $2,953,955.51 | CA58516W1041 | MGA CN | 2817833 | 20,227,021 | 0.32% |
| Western Uranium & Vanadium Corp. | $2,836,321.86 | CA95985D1006 | WUC CN | BF39VJ4 | 3,676,892 | 0.31% |
| Skyharbour Resources Ltd. | $2,526,471.55 | CA8308166096 | SYH CN | BDFGHL3 | 8,649,926 | 0.27% |
| CanAlaska Uranium Ltd. | $2,419,959.23 | CA13708P2017 | CVV CN | 2526924 | 8,975,696 | 0.26% |
| Toro Energy Ltd. | $2,412,750.17 | AU000000TOE6 | TOE AU | B0Z3S54 | 326,666,633 | 0.26% |
| Appia Rare Earths & Uranium Corp. | $1,872,863.26 | CA03783P1018 | API CN | BP2R3Y8 | 13,161,793 | 0.20% |
| Cash Equivalent | $122,983.08 | $122,983.08 | 0.03% |
37 total, excluding cash and cash equivalents. Subject to change.
| Ex-Date | Record Date | Payable Date | Short-Term Capital Gains | Long-Term Capital Gains | Dividend Income | Total Distributions |
|---|---|---|---|---|---|---|
| 12/28/2020 | 12/29/2020 | 12/31/2020 | - | - | $1.1043 | - |
| 12/28/2021 | 12/29/2021 | 12/31/2021 | - | - | $4.8219 | - |
| 12/15/2022 | 12/16/2022 | 12/22/2022 | - | - | - | - |
Historical Documents for North Shore Global Uranium Mining ETF
Sprott Uranium Report - April 2023
Key Facts about Spent Nuclear Fuel
Why Nuclear Power Plant Life Extensions & Uprates Matter
Uranium & Nuclear Power Play a Critical Role in the U.S.
Podcast: Phone A Friend - How Uranium is Bought and Sold
Video - Bloor Street Capital Nuclear and Uranium Conference
Webcast Replay: The Energy Transition Is Here. Is Your Portfolio Ready?
Podcast: 2023 Uranium Outlook: Is Nuclear Power Out of the Penalty Box?
URNM: Tax-Loss Harvesting Strategies for Uranium Holdings
Whitepaper - Unearthing Opportunity: Uranium Miners and the Global Clean Energy Transition
Investor Presentation 12/31/22 - Sprott Uranium Miners ETF
Video - Uranium: Born of the Stars
Video: How It's Made - Uranium Part 1
Video: How It's Made - Uranium Part 2
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Call 888.622.1813 for current month end performance.
* Returns less than one year are not annualized.
1 Inception Date: 12/3/2019. URNM was reorganized from the North Shore Global Uranium Mining ETF into the Sprott Uranium Miners ETF on 4/22/2022. URNM is a continuation of the prior ETF and, therefore, the performance information shown includes the prior ETF’s performance.
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 prospectus dated April 28, 2023. For the services the Adviser (Sprott Asset Management LP) 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 0.85% on up to $500 million in assets, 0.80% on the next $500 million in assets, and 0.70% on assets greater than $1 billion.
5 The North Shore Global Uranium Mining Index (URNMX) was created by North Shore Indices, Inc. (the “Index Provider”). The Index Provider developed the methodology for determining the securities to be included in the Index and is responsible for ongoing maintenance of the Index. The Index is calculated by Indxx, LLC, which is not affiliated with the North Shore Global Uranium Miners Fund (“Existing Fund”), ALPS Advisors, Inc. (the “Sub-Adviser”) or Sprott Asset Management LP (the “Adviser”). You cannot invest directly in an index.
This material must be preceded or accompanied by a prospectus. For an additional copy of the Prospectus please visit https://sprottetfs.com/urnm/prospectus. An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a Sprott Uranium Miners ETF Statutory Prospectus, which contains this and other information, visit https://sprottetfs.com/urnm/prospectus, or contact your financial professional or call 888.622.1813. Read the Prospectus carefully before investing.
The Fund is not suitable for all investors. There are risks involved with investing in ETFs including the loss of money. The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.
The Fund’s investments will be concentrated in the uranium industry. As a result, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the uranium industry. Also, uranium companies may be significantly subject to the effects of competitive pressures in the uranium business and the price of uranium. The price of uranium may be affected by changes in inflation rates, interest rates, monetary policy, economic conditions and political stability. The price of uranium may fluctuate substantially over short periods of time, therefore the Fund’s share price may be more volatile than other types of investments. In addition, they may also be significantly affected by import controls, worldwide competition, liability for environmental damage, depletion of resources, mandated expenditures for safety and pollution control devices, political and economic conditions in uranium producing and consuming countries, and uranium production levels and costs of production. Demand for nuclear energy may face considerable risk as a result of, among other risks, incidents and accidents, breaches of security, ill-intentioned acts of terrorism, air crashes, natural disasters, equipment malfunctions or mishandling in storage, handling, transportation, treatment or conditioning of substances and nuclear materials.
Shares are not individually redeemable. Investors buy and sell shares of the Sprott Uranium Miners ETF on a secondary market. Only market makers or “authorized participants” may trade directly with the Fund, typically in blocks of 10,000 shares.
Funds that emphasize investments in small/mid-capitalization companies will generally experience greater price volatility. Funds investing in foreign and emerging markets will also generally experience greater price volatility. Diversification does not eliminate the risk of experiencing investment losses. ETFs are considered to have continuous liquidity because they allow for an individual to trade throughout the day.
A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses, affect the Fund’s performance.
ALPS Distributors, Inc. is the Distributor for the Sprott Uranium Miners ETF and is a registered broker-dealer and FINRA Member.
| CY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | |
|---|---|---|---|---|---|
| Days Traded at Premium | 114 | 37 | -- | -- | -- |
| Days Traded at Discount | 135 | 25 | -- | -- | -- |
The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported net asset value. The amount that the fund's market price is above the reported NAV is called the premium. The amount that the fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.
*A unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument.
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).
You can purchase and trade shares of Sprott ETFs directly through your online brokerage firm; these firms may include:
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Continue to Sprott.com/SESGYou are now leaving SprottETFs.com and will be directed to the Sprott website at Sprott.com. ALPS Distributors, Inc. is the Distributor for the Sprott ETFs and is a registered broker-dealer and FINRA Member. Sprott Asset Management LP is the adviser for the Sprott ETFs.
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