For the latest standardized performance and holdings of Sprott Uranium ETFs, please visit the individual website pages: URNM and URNJ. Past performance is no guarantee of future results.
- Is Now a Time to Reassess Nuclear Exposure?
- How Does Tax-Loss Harvesting Work?
- Consider a Shift to the Sprott Uranium Miners ETF (URNM)
Is Now a Time to Reassess Nuclear Exposure?
Recent declines across broad nuclear and uranium ETFs may have left some investors with unrealized losses, creating potential tax-loss harvesting opportunities. While the long-term outlook for nuclear energy remains constructive, accelerating uranium demand is converging with constrained supply to create an increasingly powerful investment case for uranium. This may provide a timely window to pivot toward a targeted allocation to uranium miners, which offer leveraged exposure to improving uranium prices. Investors who are constructive on the uranium theme may be able to realize losses in existing positions while maintaining exposure through a more targeted uranium-focused investment approach.
Realizing a loss by December 31 may provide a strategic opportunity to offset gains elsewhere, and shift—or possibly enhance—your investment exposure to uranium.
How Does Tax-Loss Harvesting Work?
For U.S. federal income tax purposes, tax-loss harvesting involves selling investments held in taxable accounts at a loss to help offset capital gains and potentially reduce taxes owed. If losses exceed gains, eligible investors may also be able to use a limited amount of excess losses to offset ordinary income, subject to IRS rules. The proceeds from the sale can be reinvested in other investments.
Users of this strategy need to consider the wash-sale rule, which prevents an investor from selling at a loss and then buying a “substantially identical” stock or securities holding within the 30 days before or after the sale, creating a 61-day window around the transaction. However, investments with sufficiently different allocations or holdings—ones that provide similar market exposure but are different in a meaningful way—may be acceptable substitutes. This means that tax-loss harvesting can be an opportunity to shift your allocation.
Consider a Shift to the Sprott Uranium Miners ETF (URNM)
The Sprott Uranium Miners ETF (NYSE Arca: URNM) is the only1 ETF to provide pure play2 exposure to uranium miners and physical uranium essential to nuclear power.
Why Invest in Uranium Miners?
- A 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.
- Uranium is a critical material that’s essential to meeting energy demand. Policy makers are increasingly turning to uranium and nuclear energy to meet the world’s growing need for electricity with nearly 40 countries3 agreeing to at least triple nuclear energy capacity.
- Uranium is critical to energy security and may help countries achieve a reliable and affordable source of electricity.
Learn more about the Sprott Uranium Miners ETF.
Footnotes
| 1 | Based on Morningstar’s universe of Natural Resources Sector Equity ETFs as of 9/30/2026. |
| 2 | 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. |
| 3 | *Source: International Atomic Energy Agency (IAEA), November 2025. |
Tax rules are complex and depend on an investor’s individual circumstances. Investors should consult their financial advisor or qualified tax professional to determine whether tax-loss harvesting is appropriate for their portfolio before implementing a strategy or purchasing a replacement investment.
Important Disclosures
An investor should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. To obtain a fund’s Prospectus, which contains this and other information, contact your financial professional, call 1.888.622.1813 or visit SprottETFs.com. Read the Prospectus carefully before investing.
Exchange Traded Funds (ETFs) are considered to have continuous liquidity because they allow for an individual to trade throughout the day, which may indicate higher transaction costs and result in higher taxes when fund shares are held in a taxable account.
Diversification does not protect against loss. The funds are non-diversified and can invest a greater portion of assets in securities of individual issuers, particularly those in the natural resources and/or precious metals industry, which may experience greater price volatility. Relative to other sectors, natural resources and precious metals investments have higher headline risk and are more sensitive to changes in economic data, political or regulatory events, and underlying commodity price fluctuations. Risks related to extraction, storage and liquidity should also be considered.
Gold and precious metals are referred to with terms of art like "store of value," "safe haven" and "safe asset." These terms should not be construed to guarantee any form of investment safety. While “safe” assets like gold, Treasuries, money market funds and cash generally do not carry a high risk of loss relative to other asset classes, any asset may lose value, which may involve the complete loss of invested principal.
Shares are not individually redeemable. Investors buy and sell shares of the funds on a secondary market. Only “authorized participants” may trade directly with the fund, typically in blocks of 10,000 shares.
The Sprott Rare Earths Ex-China ETF is new and has limited operating history.
Sprott Asset Management USA, Inc. is the Investment Adviser to the Sprott ETFs. ALPS Distributors, Inc. is the Distributor for the Sprott ETFs and is a registered broker-dealer and FINRA Member. ALPS Distributors, Inc. is not affiliated with Sprott Asset Management USA, Inc.