Sprott Uranium Miners ETF

As of October 9, 2025

NAV

$61.14

NAV Daily Change

+$0.07

trending up +0.11%

NAV Since Inception Cumulative Change1

trending up 471.43%

Ticker

URNM

Market Price2

$61.41

Premium/Discount3

0.44%

Total Net Asset Value

$2.01 Billion

Net Total Expense Ratio4

0.75%

Overview

Key Points

  1. Pure-Play Uranium ETF – A U.S.-listed Uranium ETF focused on uranium miners and physical uranium.
  2. Uranium Bull Market – A new uranium bull market is likely underway as demand outstrips supply, nations seek energy security and prices have the potential to increase—incentivizing miners and providing opportunities to investors.
  3. Critical Material in Meeting Energy Demand – Uranium and nuclear energy may be critical to meeting the world’s expanding need for electricity, and countries recently committed to tripling global nuclear energy capacity by 2050 to reach net-zero goals.
  4. Supporting Energy Security – Uranium and nuclear energy may help countries achieve a reliable and affordable source of electricity.

Investment Objective

Sprott Uranium Miners ETF (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 term “pure-play” relates directly to the exposure that the Fund has to the total universe of investable, publicly listed securities in the investment strategy.

Key Facts

Ticker

URNM

Listing Exchange

NYSE Arca

Benchmark Index

URNMX

Index Rebalance Frequency

Semi-Annually in March & September

ISIN

Show ISIN

ISIN: US85208P3038

CUSIP

Show CUSIP

CUSIP: 85208P303

Inception Date

December 3, 2019

Adviser

Sprott Asset Management USA, Inc.

Sub-Adviser

ALPS Advisors, Inc.

Distributor

ALPS Distributors, Inc.

Fees & Expenses4

Management Fee

0.75%

Other Expenses 0.00%
Total Annual Fund Operating Expenses

0.75%

ETF Fund Details

October 9, 2025

Total Net Assets

$2,005,184,982.54

Shares Outstanding

32,795,000

Number of Holdings

34

Median 30 Day Bid Ask Spread
(As of 10/8/2025)

0.20%

Performance

Month-End Performance

Average Annual Total Returns (%) As of 9/30/2025

Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR S.I.1
Sprott Uranium Miners ETF
(Net Asset Value)
16.84 26.05 49.41 34.41 25.57 37.39 34.54
Sprott Uranium Miners ETF
(Market Price)2
17.09 26.26 49.48 35.73 25.54 36.91 34.54
North Shore Global Uranium Mining Index
(Benchmark)5
17.01 26.90 50.61 35.47 26.49 38.46 35.68

 

Quarter-End Performance

Average Annual Total Returns (%) As of 9/30/2025

Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR S.I.1
Sprott Uranium Miners ETF
(Net Asset Value)
16.84 26.05 49.41 34.41 25.57 37.39 34.54
Sprott Uranium Miners ETF
(Market Price)2
17.09 26.26 49.48 35.73 25.54 36.91 34.54
North Shore Global Uranium Mining Index
(Benchmark)5
17.01 26.90 50.61 35.47 26.49 38.46 35.68

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 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 0.75% of net assets. This fee was lowered to 0.75% as of 4/1/2024.

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 USA, Inc.(the “Adviser”). You cannot invest directly in an index. 

Market Price vs. Net Asset Value Since Inception

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Inception date: December 03, 2019.

Historical Premium/Discount: Market Price to Net Asset Value

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Inception date: December 03, 2019.

Frequency Distribution: Premium/Discount

Trading Days Each Quarter

Data updated as of October 10, 2025

  CY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Days Traded at Premium 138 31 27 34 --
Days Traded at Discount 106 28 34 29 --

Portfolio Characteristics*

As of 9/30/2025

Number of Issuers 34
Market Cap (millions) $81,973.71
Weighted Avg. Company Market Cap (millions) $8,689.13
Market Cap Breakdown
Large (>$10B) 28.14%
Medium ($2 -$10B) 31.98%
Small (<$2B) 28.25%
Not Classified 11.63%
Industry Weighting
Uranium & Related Equities 84.97%
Physical Uranium 15.03%

Reflects equities classified by Sprott Asset Management.

Company Domicile Breakdown*

As of 9/30/2025

* Excludes cash

Holdings

As of 10/09/2025

Security Market Value Symbol SEDOL Quantity Weight
Cameco Corp. $295,196,482.98 CCJ 2158684 3,403,626 14.72%
NAC Kazatomprom JSC $293,217,632.40 KAP LI BGXQL36 5,302,308 14.62%
Sprott Physical Uranium Trust $223,680,548.08 U-U CN BNZKG52 12,360,157 11.16%
Energy Fuels Inc. $125,696,184.90 UUUU BFV4XW8 6,380,517 6.27%
CGN Mining Co. Ltd. $114,265,156.88 1164 HK B755514 230,355,300 5.70%
Denison Mines Corp. $96,856,832.07 DNN B0122F3 34,225,029 4.83%
Paladin Energy Ltd. $95,673,673.17 PDN AU 6668468 16,262,074 4.77%
Uranium Energy Corp. $93,952,068.60 UEC B0VLLY2 6,933,732 4.69%
NexGen Energy Ltd. $91,733,507.17 NXE BCH0BB4 10,459,921 4.57%
Deep Yellow Ltd. $81,128,846.07 DYL AU 6480275 61,608,277 4.05%
Yellow Cake PLC $69,788,829.19 YCA LN BF50RG4 9,422,369 3.48%
Ur-Energy Inc. $55,569,047.22 URG B0WW4L2 29,093,742 2.77%
Encore Energy Corp. $50,848,358.13 EU CN BN48958 14,918,887 2.54%
IsoEnergy Ltd. $44,127,606.65 ISO CN BTTRKM6 4,256,311 2.20%
Boss Energy Ltd. $42,777,889.01 BOE AU B1XLCQ6 33,060,702 2.13%
Bannerman Energy Ltd. $38,171,838.02 BMN AU B07DXJ1 16,366,390 1.90%
Lotus Resources Ltd. $31,876,597.61 LOT AU BK6XLC1 216,246,588 1.59%
Uranium Royalty Corp. $23,709,252.15 URC CN BKMD921 5,813,119 1.18%
Global Atomic Corp. $13,546,019.47 GLO CN BF11BK3 27,139,450 0.68%
Atha Energy Corp. $12,840,892.87 SASK CN BNQNDF9 23,088,090 0.64%
Berkeley Energia Ltd. $11,582,447.86 BKY LN B1KZDW4 31,107,973 0.58%
Aura Energy Ltd. $11,510,292.89 AEE AU B14Z2S9 73,204,024 0.57%
Anfield Energy Inc. $10,675,366.68 AEC CN BRT7VZ2 1,247,639 0.53%
CanAlaska Uranium Ltd. $10,392,840.54 CVV CN BR1YTV3 15,026,226 0.52%
Laramide Resources Ltd. $10,159,341.05 LAM CN 2507952 22,615,822 0.51%
GoviEx Uranium Inc. $8,516,638.53 GXU CN BNGCT03 140,519,526 0.42%
Mega Uranium Ltd. $8,417,181.24 MGA CN 2817833 28,445,002 0.42%
Elevate Uranium Ltd. $8,302,131.53 EL8 AU BM8ZH21 29,470,057 0.41%
Alligator Energy Ltd. $6,717,016.68 AGE AU B55ZH25 353,539,750 0.33%
Forsys Metals Corp. $5,929,472.45 FSY CN 2597801 16,799,573 0.30%
Skyharbour Resources Ltd. $5,416,536.57 SYH CN BDFGHL3 17,666,097 0.27%
F3 Uranium Corp. $5,032,074.67 FUU CN BMW5VG9 41,513,136 0.25%
Western Uranium & Vanadium Corp. $4,186,232.67 WUC CN BF39VJ4 6,596,609 0.21%
Premier American Uranium Inc. $3,946,611.83 PUR CN BPG4WM6 5,322,044 0.20%
Cash Equivalent $-256,465.29 $-256,465.29 -0.01%

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

12/28/2020

12/29/2020

12/31/2020

-

-

$1.10

$1.10

12/28/2021

12/29/2021

12/31/2021

-

-

$4.82

$4.82

12/15/2022

12/16/2022

12/22/2022

-

-

-

-

12/14/2023

12/15/2023

12/21/2023

-

-

$1.75

$1.75

12/12/2024

12/12/2024

12/19/2024

-

-

$1.28

$1.28

Commentary

Istock 1483825932 LF

Investors Act with Conviction

BY JACOB WHITE · 10/06/2025
Uranium prices and miners surged in September, fueled by tight supply and strong utility demand. The rally drew renewed investor interest, with capital flows into uranium equities and ETFs reinforcing confidence in the sector’s momentum.

Video Images 1920X1080 Per Jander

Overview of Uranium Spot and Term Markets

VIDEO · PER JANDER · 9/22/2025
Per Jander of WMC joins Jimmy Connor of Bloor Street Capital at the World Nuclear Symposium 2025. Jander highlights the industry’s growing optimism and Microsoft’s entry as a paradigm shift. Jander sees limited downside for the sector, given rising utility contracting and strong fundamentals.

Video Images 1920X1080 John Ciampaglia

Where Is Spot Uranium Going?

VIDEO · JOHN CIAMPAGLIA · 9/21/2025
John Ciampaglia, CEO of Sprott Asset Management, joins Jimmy Connor of Bloor Street Capital at the World Nuclear Symposium 2025. Ciampaglia notes stabilizing uranium prices, lingering supply challenges and growing demand from utilities, AI and data centers.

Istock 154969419

Uranium: At the Fulcrum of AI, National Security and Global Energy Demand

BY JOHN CIAMPAGLIA · 9/22/2025
John Ciampaglia, CEO of Sprott Asset Management, highlights takeaways from the September 2025 World Nuclear Symposium: surging uranium demand from electricity, AI and energy security, tech ties like Microsoft and constrained supply supporting higher prices and new mining.

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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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Sprott ETFs
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Denver, CO 80201

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Suite 1100
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