Sprott Active Metals & Miners ETF
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As of October 30, 2025
NAV
$22.81
NAV Daily Change
+$0.04
+0.18%
NAV Since Inception Cumulative Change1
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
- 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
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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
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 |
- |
- |
- |
- |
- |
- |
- |
Investment Team
Literature
Fact Sheet
Investor Presentation
Regulatory Documents
News and Press Release
Commentary
Going Beneath the Surface: Active Management in Metals & Mining ETFs
BY JUSTIN TOLMAN, SHREE KARGUTKAR, STEVE SCHOFFSTALL & ED COYNE · 10/21/2025
Join Sprott’s expert team for an exclusive webcast replay exploring the powerful forces reshaping the metals and mining landscape, from surging energy demand and AI growth to tightening supply chains. Discover how Sprott’s active, research-driven ETF approach helps investors navigate volatility, and learn more about GBUG and METL.
The Metals that Make the World
BY JUSTIN TOLMAN · 9/29/2025
Sprott economic geologist and Senior Portfolio Manager Justin Tolman joins Ed Coyne for a deep dive on demand trends for steel, copper and silver and what it might take to successfully invest in the metals that build the world.
Steel Meets Rising Global Electricity Demand
BY JUSTIN TOLMAN · 9/15/2025
Steel is emerging as a strategic material in meeting global electricity demands, underpinning everything from power generation and transmission to electric vehicles and grid modernization. Demand for green steel is accelerating with market forecasts projecting rapid growth relative to traditional steel.
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.
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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