Sprott Active Metals & Miners ETF

As of October 30, 2025

NAV

$22.81

NAV Daily Change

+$0.04

trending up +0.18%

NAV Since Inception Cumulative Change1

trending up 15.38%

Ticker

METL

Market Price2

$23.06

Premium/Discount3

1.10%

Total Net Asset Value

$35.36 Million

Net Total Expense Ratio4

0.89%

Overview

Key Points

  1. Actively Managed by a Global Leader – Sprott Asset Management has over four decades of specialized leadership in metals and mining investments.
  2. 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.
  3. 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.
  4. 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

CUSIP

Show CUSIP

CUSIP: 85208P857

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

October 30, 2025

Total Net Assets

$35,355,601.14

Shares Outstanding

1,550,000

Number of Holdings

37

Median 30 Day Bid Ask Spread
(As of 10/29/2025)

0.41%

Performance

Month-End Performance

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

Fund 1M0^ S.I.1
Sprott Active Metals & Miners ETF
(Net Asset Value)
-- 11.08
Sprott Active Metals & Miners ETF
(Market Price)2
-- 11.43
MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver
Investable Market Index)5
-- 6.70

Quarter-End Performance

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

Fund 1M0^ S.I.1
Sprott Active Metals & Miners ETF
(Net Asset Value)
-- 11.08
Sprott Active Metals & Miners ETF
(Market Price)2
-- 11.43
MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver
Investable Market Index)5
-- 6.70

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

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.



Inception date: September 09, 2025.

Historical Premium/Discount: Market Price to Net Asset Value

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.



Inception date: September 09, 2025.

Portfolio Analytics

Portfolio Characteristics*

As of 9/30/2025

Number of Issuers 36
Market Cap (millions) $391,911.32
Largest Market Cap (millions) $56,311.06
Smallest Market Cap (millions) $306.17
Weighted Avg. Company Market Cap (millions) $10,746.77
Market Cap Breakdown
Large (>$10B) 39.59%
Medium ($2 -$10B) 31.31%
Small (<$2B) 29.11%
Industry Weightings†††
Copper Equities 27.05%
Uranium Equities 21.88%
Silver Equities 13.70%
Steel and Iron Ore Equities 13.19%
Other Equities 7.37%
Rare Earth Equities 7.26%
Lithium Equities 5.51%
Drilling Equities 3.61%
PGM Equities 0.43%

††† Reflects equities classified by Sprott Asset Management

Company Domicile Breakdown*

As of 9/30/2025

* Excludes cash

 

Holdings

As of 10/30/2025

Security Market Value Symbol SEDOL Quantity Weight
Uranium Energy Corp. $1,743,320.15 UEC B0VLLY2 112,255 4.93%
Endeavour Silver Corp. $1,718,520.65 EXK B018TM7 206,305 4.86%
Cameco Corp. $1,667,142.40 CCJ 2158684 15,920 4.72%
NexGen Energy Ltd. $1,528,658.90 NXE CN B987K72 156,085 4.32%
Denison Mines Corp. $1,467,853.10 DNN B0122F3 455,855 4.15%
Ivanhoe Mines Ltd. $1,443,420.81 IVN CN BD73C40 140,120 4.08%
Nucor Corp. $1,299,743.20 NUE 2651086 8,680 3.68%
Major Drilling Group International Inc. $1,293,142.97 MDI CN 2557515 145,528 3.66%
Steel Dynamics Inc. $1,274,930.80 STLD 2849472 8,060 3.61%
Vizsla Silver Corp. $1,213,824.46 VZLA CN BS84LB7 291,245 3.43%
Lynas Rare Earths Ltd. $1,192,326.28 LYC AU 6121176 123,070 3.37%
Reliance Inc. $1,171,339.65 RS 2729068 4,185 3.31%
Champion Iron Ltd. $1,124,008.91 CIA AU BLD1SB3 315,425 3.18%
Hudbay Minerals Inc. $1,122,714.80 HBM CN B05BDX1 70,680 3.18%
ATALAYA MINING COPPER SA $1,103,598.70 ATYM LN BYZTVM8 124,930 3.12%
Lundin Mining Corp. $1,075,591.52 LUN CN 2866857 66,340 3.04%
Paladin Energy Ltd. $1,076,109.79 PDN AU 6668468 173,290 3.04%
Cia de Minas Buenaventura SAA $1,056,945.00 BVN 2210476 46,500 2.99%
MP Materials Corp. $1,046,510.40 MP BN15Y35 16,120 2.96%
Wheaton Precious Metals Corp. $1,003,510.46 WPM CN BF13KN5 10,230 2.84%
ERO Copper Corp. $956,964.82 ERO CN BF02Z72 44,503 2.71%
Pan American Silver Corp. $925,201.20 PAAS 2703396 26,040 2.62%
GoGold Resources Inc. $858,271.91 GGD CN B60BNP0 451,351 2.43%
Aya Gold & Silver Inc. $829,542.41 AYA CN BK94091 75,351 2.35%
Lithium Argentina AG $798,405.00 LAR BS2CSN8 187,860 2.26%
Atex Resources Inc $699,356.54 ATX CN BJLHNG9 373,395 1.98%
Foran Mining Corp. $668,529.40 FOM CN 2355731 272,645 1.89%
Sociedad Quimica y Minera de Chile SA $657,857.20 SQM 2771122 13,640 1.86%
Freeport-McMoRan Inc. $524,462.64 FCX 2352118 12,568 1.48%
Bannerman Energy Ltd. $498,028.63 BMN AU B07DXJ1 210,025 1.41%
Taseko Mines Ltd $376,885.78 TKO CN 2873006 84,084 1.07%
IGO Ltd. $347,553.94 IGO AU 6439567 95,945 0.98%
Albemarle Corp. $317,359.38 ALB 2046853 3,242 0.90%
Sovereign Metals Ltd $298,435.41 SVM AU B1H34T5 700,910 0.84%
Peninsula Energy Ltd. $286,716.97 PEN AU 6486381 741,868 0.81%
Antofagasta PLC $224,135.75 ANTO LN 0045614 6,057 0.63%
Valterra Platinum Ltd. $124,741.03 VALT LN BV1D8Q6 2,019 0.35%
Cash Equivalent $339,940.18 $339,940.18 0.96%

37 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

-

-

-

-

-

-

-

Commentary

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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

Standard Mail
Sprott ETFs
P.O. Box 1107
Denver, CO 80201

Overnight Mail
Sprott ETFs
1290 Broadway
Suite 1100
Denver, CO 80203

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