Sprott Active Metals & Miners ETF
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As of July 15, 2026
NAV
$25.06
NAV Daily Change
-$0.20
-0.79%
NAV Since Inception Cumulative Change1
28.01%
Ticker
METL
Market Price2
$25.00
Premium/Discount3
-0.24%
Total Net Asset Value
$83.20 Million
Net Total Expense Ratio4
0.99%
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
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ISIN: US85208P8573
Copyright 2026, American Bankers Association. CUISP Database provided by FactSet Research Systems Inc. All rights reserved.
CUSIP
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CUSIP: 85208P857
Copyright 2026, 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 | 0.10% |
| Total Annual Fund Operating Expenses | 0.99% |
ETF Fund Details
July 15, 2026
Total Net Assets
$83,199,776.66
Shares Outstanding
3,320,000
Number of Holdings
42
Median 30 Day Bid Ask Spread
(As of 7/14/2026)
0.36%
Performance
Month-End Performance
Average Annual Total Returns (%) As of 6/30/2026
| Fund | 1 MO* | 3 MO* | YTD* | S.I.*1 |
| Sprott Active Metals & Miners ETF (Net Asset Value) |
-14.65 | -3.70 | 2.22 | 31.53 |
| Sprott Active Metals & Miners ETF (Market Price)2 |
-14.38 | -4.35 | 1.82 | 31.38 |
| MSCI ACWI Select Metal & Mining Producer Ex Gold & Silver IMI (Benchmark)5 |
-11.51 | 5.85 | 14.60 | 42.63 |
Quarter-End Performance
Average Annual Total Returns (%) As of 6/30/2026
| Fund | 1 MO* | 3 MO* | YTD* | S.I.*1 |
| Sprott Active Metals & Miners ETF (Net Asset Value) |
-14.65 | -3.70 | 2.22 | 31.53 |
| Sprott Active Metals & Miners ETF (Market Price)2 |
-14.38 | -4.35 | 1.82 | 31.38 |
| MSCI ACWI Select Metal & Mining Producer Ex Gold & Silver IMI (Benchmark)5 |
-11.51 | 5.85 | 14.60 | 42.63 |
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.
* Returns less than one year are not annualized.
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 6/30/2026
| Number of Companies | 41 |
| Market Cap (millions) | $565,722.74 |
| Largest Market Cap (millions) | $90,408.14 |
| Smallest Market Cap (millions) | $147.16 |
| Weighted Avg. Company Market Cap (millions) | $15,749.41 |
| Market Cap Breakdown | |
| Large (>$10B) | 48.03% |
| Medium ($2 -$10B) | 28.76% |
| Small (<$2B) | 23.21% |
| Industry Weightings††† | |
| Copper Equities | 25.70% |
| Uranium Equities | 18.71% |
| Steel and Iron Ore Equities | 14.29% |
| Silver Equities | 12.90% |
| Lithium Equities | 12.20% |
| Rare Earth Equities | 7.90% |
| Mining Service Providers | 3.95% |
| Platinum Group Metals Equities | 1.43% |
| Other Equities | 1.71% |
| Nickel Equities | 1.21% |
††† Reflects equities classified by Sprott Asset Management
Company Domicile Breakdown*
As of 6/30/2026
* Excludes cash
Holdings
As of 7/15/2026
| Security | Market Value | Symbol | SEDOL | Quantity | Weight |
|---|---|---|---|---|---|
| Nucor Corp. | $4,025,131.91 | NUE | 2651086 | 16,993.00 | 4.84% |
| Steel Dynamics Inc. | $3,387,588.36 | STLD | 2849472 | 14,381.00 | 4.07% |
| NexGen Energy Ltd. | $3,219,341.24 | NXE CN | B987K72 | 347,726.00 | 3.87% |
| Cameco Corp. | $3,167,832.62 | CCJ | 2158684 | 34,819.00 | 3.81% |
| Major Drilling Group International Inc. | $3,147,572.10 | MDI CN | 2557515 | 307,776.00 | 3.78% |
| Hudbay Minerals Inc. | $3,120,417.09 | HBM CN | B05BDX1 | 141,981.00 | 3.75% |
| Lithium Argentina AG | $3,089,561.18 | LAR | BS2CSN8 | 430,301.00 | 3.71% |
| Reliance Inc. | $3,074,142.04 | RS | 2729068 | 7,844.00 | 3.69% |
| Denison Mines Corp. | $3,072,155.25 | DNN | B0122F3 | 994,225.00 | 3.69% |
| Lynas Rare Earths Ltd. | $3,004,631.06 | LYC AU | 6121176 | 260,216.00 | 3.61% |
| Cia de Minas Buenaventura SAA | $2,887,784.14 | BVN | 2210476 | 94,034.00 | 3.47% |
| Endeavour Silver Corp. | $2,814,950.52 | EXK | B018TM7 | 353,637.00 | 3.38% |
| Lundin Mining Corp. | $2,703,372.01 | LUN CN | 2866857 | 110,123.00 | 3.25% |
| ATALAYA MINING COPPER SA | $2,580,127.13 | ATYM LN | BYZTVM8 | 228,166.00 | 3.10% |
| Paladin Energy Ltd. | $2,491,210.37 | PDN AU | 6668468 | 381,500.00 | 2.99% |
| Sociedad Quimica y Minera de Chile SA | $2,490,183.36 | SQM | 2771122 | 34,818.00 | 2.99% |
| Ivanhoe Mines Ltd. | $2,440,181.01 | IVN CN | BD73C40 | 326,633.00 | 2.93% |
| Uranium Energy Corp. | $2,399,456.85 | UEC | B0VLLY2 | 237,335.00 | 2.88% |
| Pan American Silver Corp. | $2,384,150.40 | PAAS | 2703396 | 54,720.00 | 2.87% |
| Vizsla Silver Corp. | $2,362,366.20 | VZLA CN | BS84LB7 | 737,137.00 | 2.84% |
| Freeport-McMoRan Inc. | $2,128,645.61 | FCX | 2352118 | 34,913.00 | 2.56% |
| ERO Copper Corp. | $1,916,312.10 | ERO CN | BF02Z72 | 75,669.00 | 2.30% |
| Champion Iron Ltd. | $1,883,236.15 | CIA AU | BLD1SB3 | 666,960.00 | 2.26% |
| MP Materials Corp. | $1,688,366.56 | MP | BN15Y35 | 34,136.00 | 2.03% |
| Albemarle Corp. | $1,655,175.06 | ALB | 2046853 | 13,269.00 | 1.99% |
| Wheaton Precious Metals Corp. | $1,475,120.41 | WPM CN | BF13KN5 | 13,576.00 | 1.77% |
| GoGold Resources Inc. | $1,314,359.67 | GGD CN | B60BNP0 | 601,159.00 | 1.58% |
| Trekor Metals Ltd. | $1,126,914.80 | TKO CN | BRSCTT8 | 151,277.00 | 1.35% |
| PLS Group Ltd. | $1,062,933.05 | PLS AU | B2368L5 | 326,955.00 | 1.28% |
| Talon Metals Corp. | $1,036,160.10 | TLO CN | BTZRRJ6 | 250,849.00 | 1.25% |
| Capstone Copper Corp. | $926,632.70 | CS CN | BMY5XY9 | 99,323.00 | 1.11% |
| Valterra Platinum Ltd. | $917,923.04 | VALT LN | BV1D8Q6 | 13,892.00 | 1.10% |
| Antofagasta PLC | $879,877.73 | ANTO LN | 0045614 | 17,373.00 | 1.06% |
| Coeur Mining Inc. | $814,592.00 | CDE | 2208136 | 51,200.00 | 0.98% |
| Galan Lithium Ltd. | $601,290.42 | GLN AU | BG5PWD8 | 2,640,590.00 | 0.72% |
| Peninsula Energy Ltd. | $580,861.04 | PEN AU | 6486381 | 2,302,872.00 | 0.70% |
| Lindian Resources Ltd. | $576,479.00 | LIN AU | 6214816 | 1,068,545.00 | 0.69% |
| USA Rare Earth Inc. | $547,584.54 | USAR | BSBGKF7 | 31,634.00 | 0.66% |
| Sovereign Metals Ltd. | $545,200.32 | SVM AU | B1H34T5 | 1,482,166.00 | 0.66% |
| Andina Copper Corp. | $385,257.99 | ANDC CN | BTPN222 | 483,000.00 | 0.46% |
| LibertyStream Infrastructure Partners Inc. | $292,349.88 | LIB CN | BVLGVK0 | 526,286.00 | 0.35% |
| Sibanye Stillwater Ltd. | $251,460.30 | SBSW | BL8F9X9 | 29,445.00 | 0.30% |
| Cash Equivalent | $2,730,889.35 | $2,730,889.35 | 3.32% |
42 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 |
12/18/2025 |
12/18/2025 |
12/22/2025 |
- |
- |
$0.25 |
$0.25 |
Investment Team
Literature
Fact Sheet
Investor Presentation
Year-End Distributions
News and Press Release
Commentary
Metals and Miners: Policy Over Price
VIDEO · 7/8/2026
Markets are changing and policy is becoming just as important as price in shaping the outlook for critical materials. In this edition of Metals in Motion, Sprott's Justin Tolman explains how government intervention, supply chain security and market volatility are creating new opportunities across metals and mining, while highlighting what investors should watch in the second half of 2026.
Metals and Miners: Opportunities in the Strategic Resource Race
WEBCAST · 6/23/2026
As nations race to secure critical metals, macro and geopolitical forces are reshaping the outlook. In this mid-year webcast, Ryan McIntyre, Paul Wong and Ed Coyne break down the key drivers across gold, silver, copper, uranium and more, and what they may mean for markets and investment opportunities in the second half of 2026.
Podcast: BESS, Lithium's Second Act
BY Edward C. Coyne · 6/25/2026
Rare earths are at the center of a global power struggle. In this episode, Canaccord Genuity mining analyst Reg Spencer unpacks the widening gap between explosive demand—from EVs to robotics—and a supply chain tightly controlled by China. He joins host Ed Coyne to explore how the U.S. and its allies are racing to build new supply and what that could mean for investors.
Critical Materials in an Era of Energy Security and Defense
BY STEVE SCHOFFSTALL · 4/2/2026
Rising geopolitical risk, energy insecurity and record defense spending are reshaping demand for critical materials and precious metals. In this episode of Metals in Motion, Steve Schoffstall breaks down what today’s market volatility means and why long-term fundamentals for uranium, copper, rare earths, gold and silver remain compelling.
Why Critical Materials Are Leading the New Commodity Cycle
BY PAUL WONG, JACOB WHITE, JUSTIN TOLMAN · 3/3/2026
Critical materials are being repriced as strategic assets in a new commodity supercycle driven. As global investment pivots toward electrification and secure supply chains, SETM and METL provide targeted exposure to the companies positioned at the center of this structural shift.
Justin Tolman: The Metamorphosis of a Career, Turning Rocks into Value Investing
SPECIAL REPORT · 2/16/2026
For nearly three decades, Justin Tolman has chased discovery across more than 40 countries, applying boots-on-the-ground geology to transform mineral potential into economic value. Discover how a “renaissance geologist” transforms field insight into differentiated investment intelligence in a world where demand for precious metals and critical minerals is only accelerating.
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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
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