Sprott Critical Materials ETF
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As of October 3, 2025
NAV
$25.90
NAV Daily Change
+$0.35
+1.37%
NAV Since Inception Cumulative Change1
32.23%
Ticker
SETM
Market Price2
$26.10
Premium/Discount3
0.77%
Total Net Asset Value
$115.76 Million
Net Total Expense Ratio4
0.65%
Overview
Key Points
- Pure-Play† Critical Materials ETF – Provides pure-play access to a range of critical materials necessary to meet the rising global demand for energy.
- Increased Demand Driving Growth – Global demand for electricity may rise 169% by 2050;†† as technological advancements gain momentum, middle classes grow globally, and nations pursue net-zero emissions goals.
- Substantial Opportunity for the Foreseeable Future – To meet the world’s energy demands and 2050 net-zero targets, global investment in energy is likely to increase trillions of dollars,††† given population growth, economic expansion and technological advancements.
- Well-Positioned Companies – Companies upstream in the supply chain may be well-positioned to benefit from the increased investment in the critical materials necessary to meet rising global demand for electricity.
Investment Objective
Sprott Critical Materials ETF (Nasdaq: SETM) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Nasdaq Sprott Critical Materials™ Index (NSETM™). The Index is designed to track the performance of a selection of global securities in the critical materials 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.
††Source: IEA World Energy Outlook 2024, net-zero emissions scenario.
†††Energy Transition Investment Trends 2024, BloombergNEF.
Effective October 1, 2024, Sprott Energy Transition Materials ETF changed its name to Sprott Critical Materials ETF. The Fund's underlying index, the Nasdaq Sprott Energy Transition Materials™ Index, changed its name to the Nasdaq Sprott Critical Materials™ Index. The Fund's investment objective, the Index's selection methodology, and both tickers, remain the same.
Key Facts
Ticker
SETM
Listing Exchange
Nasdaq®
Benchmark Index
NSETM
Index Rebalance Frequency
Semi-Annually in June & December
ISIN
Show ISIN
ISIN: US85208P4028
Copyright 2025, American Bankers Association. CUISP Database provided by FactSet Research Systems Inc. All rights reserved.
CUSIP
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CUSIP: 85208P402
Copyright 2025, American Bankers Association. CUISP Database provided by FactSet Research Systems Inc. All rights reserved.
Inception Date
February 1, 2023
Adviser
Sprott Asset Management USA, Inc.
Sub-Adviser
ALPS Advisors, Inc.
Distributor
ALPS Distributors, Inc.
Fees & Expenses4
| Management Fee | 0.65% |
| Other Expenses | 0.00% |
| Total Annual Fund Operating Expenses | 0.65% |
ETF Fund Details
October 3, 2025
Total Net Assets
$115,757,746.53
Shares Outstanding
4,470,000
Number of Holdings
86
Median 30 Day Bid Ask Spread
(As of 10/2/2025)
0.41%
Performance
Month-End Performance
Average Annual Total Returns (%) As of 9/30/2025
| Fund | 1 MO* | 3 MO* | YTD* | 1 YR | S.I.*1 |
| Sprott Critical Materials ETF (Net Asset Value) |
14.12 | 44.34 | 65.91 | 42.27 | 9.56 |
| Sprott Critical Materials ETF (Market Price)2 |
14.31 | 44.22 | 66.76 | 42.10 | 9.74 |
| Nasdaq Sprott Critical Materials™ Index (Benchmark)5 |
14.25 | 44.72 | 66.54 | 42.52 | 10.53 |
Quarter-End Performance
Average Annual Total Returns (%) As of 9/30/2025
| Fund | 1 MO* | 3 MO* | YTD* | 1 YR | S.I.*1 |
| Sprott Critical Materials ETF (Net Asset Value) |
14.12 | 44.34 | 65.91 | 42.27 | 9.56 |
| Sprott Critical Materials ETF (Market Price)2 |
14.31 | 44.22 | 66.76 | 42.10 | 9.74 |
| Nasdaq Sprott Critical Materials™ Index (Benchmark)5 |
14.25 | 44.72 | 66.54 | 42.52 | 10.53 |
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: 2/1/2023.
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 0.65% of net assets.
5 The Nasdaq Sprott Critical Materials™ Index (NSETM™) was co-developed by Nasdaq® (the “Index Provider”) and Sprott Asset Management LP (the “Sponsor”). The Index Provider and Sponsor co-developed the methodology for determining the securities to be included in the Index and the Index Provider is responsible for the ongoing maintenance of the Index. The Sponsor will provide certain services in connection with the Index including contributing inputs in connection with the eligibility and process to determine the initial selection and ongoing composition of the Index constituents.
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: February 01, 2023.
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: February 01, 2023.
Frequency Distribution: Premium/Discount
Trading Days Each Quarter
Data updated as of October 6, 2025
| CY 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
| Days Traded at Premium | 164 | 48 | 47 | 57 | -- |
| Days Traded at Discount | 72 | 9 | 13 | 6 | -- |
Portfolio Characteristics*
As of 8/31/2025
| Number of Issuers | 87 |
| Market Cap (millions) | $438,902.76 |
| Weighted Avg. Company Market Cap (millions) | $11,177.13 |
| Market Cap Breakdown | |
| Large (>$10B) | 33.01% |
| Medium ($2 -$10B) | 45.34% |
| Small (<$2B) | 21.65% |
| Material Weightings††† | |
| Uranium Equities | 23.53% |
| Lithium Equities | 20.87% |
| Copper Equities | 19.77% |
| Rare Earths Equities | 18.75% |
| Silver Equities | 10.64% |
| Nickel Equities | 4.58% |
| Manganese Equities | 1.27% |
| Recyclers Equities | 0.39% |
| Graphite Equities | 0.18% |
††† Reflects equities classified by Sprott Asset Management.
Company Domicile Breakdown*
As of 8/31/2025
* Excludes cash
Critical Materials: Natural materials that are essential to the generation, transmission and storage of clean energy. SETM provides investors access to the miners who produce uranium, lithium, copper, nickel, silver, manganese, cobalt, graphite and rare earth elements.
Holdings
As of 10/03/2025
| Security | Market Value | Symbol | SEDOL | Quantity | Weight |
|---|---|---|---|---|---|
| MP Materials Corp. | $10,447,651.50 | MP | BN15Y35 | 146,121 | 9.03% |
| Lynas Rare Earths Ltd. | $7,481,352.50 | LYC AU | 6121176 | 627,224 | 6.46% |
| Pilbara Minerals Ltd. | $6,695,053.63 | PLS AU | B2368L5 | 3,990,990 | 5.78% |
| Uranium Energy Corp. | $5,585,412.57 | UEC | B0VLLY2 | 422,817 | 4.83% |
| Albemarle Corp. | $5,043,537.40 | ALB | 2046853 | 57,170 | 4.36% |
| Cameco Corp. | $4,578,511.32 | CCJ | 2158684 | 54,396 | 3.96% |
| First Majestic Silver Corp. | $4,222,805.44 | AG | B01DH95 | 348,704 | 3.65% |
| Ganfeng Lithium Group Co. Ltd. | $3,994,886.70 | 1772 HK | BZ9NS11 | 660,200 | 3.45% |
| NAC Kazatomprom JSC | $3,441,979.00 | KAP LI | BGXQL36 | 64,943 | 2.97% |
| Freeport-McMoRan Inc. | $3,279,796.59 | FCX | 2352118 | 82,677 | 2.83% |
| Teck Resources Ltd. | $2,739,830.94 | TECK | 2124533 | 63,378 | 2.37% |
| Antofagasta PLC | $2,673,300.61 | ANTO LN | 0045614 | 73,020 | 2.31% |
| Denison Mines Corp. | $2,576,260.40 | DNN | B0122F3 | 920,093 | 2.23% |
| First Quantum Minerals Ltd. | $2,414,554.67 | FM CN | 2347608 | 104,179 | 2.09% |
| NexGen Energy Ltd. | $2,413,416.96 | NXE | BCH0BB4 | 276,768 | 2.08% |
| Paladin Energy Ltd. | $2,318,323.90 | PDN AU | 6668468 | 409,594 | 2.00% |
| IGO Ltd. | $2,217,383.83 | IGO AU | 6439567 | 645,651 | 1.92% |
| Aya Gold & Silver Inc. | $2,092,222.23 | AYA CN | BK94091 | 173,463 | 1.81% |
| Lundin Mining Corp. | $2,086,838.37 | LUN CN | 2866857 | 137,612 | 1.80% |
| Southern Copper Corp. | $1,997,475.30 | SCCO | 2823777 | 15,570 | 1.73% |
| Liontown Resources Ltd. | $1,883,449.61 | LTR AU | B1J89V5 | 2,924,891 | 1.63% |
| Endeavour Silver Corp. | $1,874,549.60 | EXK | B018TM7 | 243,448 | 1.62% |
| Energy Fuels Inc. | $1,836,330.16 | UUUU | BFV4XW8 | 111,158 | 1.59% |
| Tianqi Lithium Corp. | $1,499,919.03 | 9696 HK | BMZ3RS4 | 231,550 | 1.30% |
| Arafura Rare Earths Ltd. | $1,430,765.71 | ARU AU | 6711726 | 10,076,051 | 1.24% |
| Lithium Americas Corp. | $1,370,165.68 | LAC | BQ2LQL5 | 151,567 | 1.18% |
| Silvercorp Metals Inc. | $1,366,505.00 | SVM | B01DQT8 | 195,215 | 1.18% |
| CGN Mining Co. Ltd. | $1,230,856.50 | 1164 HK | B755514 | 2,675,050 | 1.06% |
| Capstone Copper Corp. | $1,184,363.51 | CS CN | BMY5XY9 | 130,951 | 1.02% |
| Meteoric Resources NL | $1,108,169.50 | MEI AU | B01CRT2 | 10,486,885 | 0.96% |
| KGHM Polska Miedz SA | $1,038,871.23 | KGH PW | 5263251 | 21,921 | 0.90% |
| Vizsla Silver Corp. | $943,435.74 | VZLA | BSB7Q07 | 213,447 | 0.82% |
| Avino Silver & Gold Mines Ltd. | $924,254.60 | ASM | B05P311 | 169,588 | 0.80% |
| Ivanhoe Mines Ltd. | $897,405.23 | IVN CN | BD73C40 | 83,313 | 0.78% |
| Merdeka Battery Materials Tbk PT | $906,902.03 | MBMA IJ | BMBR1M2 | 23,993,000 | 0.78% |
| Nickel Industries Ltd. | $890,012.44 | NIC AU | BZ7NDP2 | 1,773,139 | 0.77% |
| Sigma Lithium Corp. | $877,925.37 | SGML | BNM4ZD8 | 117,213 | 0.76% |
| Hudbay Minerals Inc. | $862,662.18 | HBM | B05BQ98 | 54,807 | 0.75% |
| Vale Indonesia Tbk PT | $841,427.73 | INCO IJ | B0217K9 | 3,169,250 | 0.73% |
| Cia de Minas Buenaventura SAA | $750,422.58 | BVN | 2210476 | 30,642 | 0.65% |
| Eramet SA | $755,371.03 | ERA FP | 4017017 | 11,169 | 0.65% |
| China Gold International Resources Corp. Ltd. | $721,290.41 | 2099 HK | B60FNV8 | 40,000 | 0.62% |
| Standard Lithium Ltd. | $699,074.60 | SLI | BF0QWN9 | 170,506 | 0.60% |
| Encore Energy Corp. | $619,904.22 | EU CN | BN48958 | 191,368 | 0.54% |
| Deep Yellow Ltd. | $596,529.42 | DYL AU | 6480275 | 434,239 | 0.52% |
| Ur-Energy Inc. | $604,756.10 | URG | B0WW4L2 | 349,570 | 0.52% |
| Vulcan Energy Resources Ltd. | $604,722.48 | VUL AU | BKYBH63 | 148,640 | 0.52% |
| MMG Ltd. | $580,152.84 | 1208 HK | 6728793 | 643,920 | 0.50% |
| AbraSilver Resource Corp. | $542,292.59 | ABRA CN | BR4XSQ5 | 100,091 | 0.47% |
| GoGold Resources Inc. | $505,382.16 | GGD CN | B60BNP0 | 271,225 | 0.44% |
| Lithium Argentina AG | $500,151.26 | LAR | BS2CSN8 | 121,102 | 0.43% |
| Americas Gold & Silver Corp. | $487,062.65 | USAS | BVMDRM4 | 123,307 | 0.42% |
| Boss Energy Ltd. | $465,441.31 | BOE AU | B1XLCQ6 | 352,367 | 0.40% |
| MOIL Ltd. | $409,105.89 | MOIL IN | B4NRBT1 | 92,731 | 0.35% |
| Sandfire Resources Ltd. | $384,907.31 | SFR AU | 6739739 | 38,983 | 0.33% |
| Elevra Lithium Ltd. | $341,529.47 | ELV AU | BVBM1M0 | 142,065 | 0.30% |
| American Battery Technology Co. | $318,112.56 | ABAT | BQC80B4 | 65,187 | 0.27% |
| ERO Copper Corp. | $300,776.03 | ERO CN | BF02Z72 | 14,027 | 0.26% |
| NGEx Minerals Ltd. | $297,331.49 | NGEX CN | BKDKBL4 | 15,650 | 0.26% |
| Core Lithium Ltd. | $274,391.94 | CXO AU | B4XFS83 | 3,956,784 | 0.24% |
| Hindustan Copper Ltd. | $283,337.65 | HCP IN | B02GZ11 | 74,339 | 0.24% |
| Taseko Mines Ltd. | $276,956.16 | TGB | 2592066 | 66,576 | 0.24% |
| Uranium Royalty Corp. | $252,207.56 | UROY | BL7BHH8 | 58,927 | 0.22% |
| Jupiter Mines Ltd. | $246,196.46 | JMS AU | BF4J2C3 | 1,461,847 | 0.21% |
| Sungeel Hitech Co. Ltd. | $224,578.96 | 365340KS | BP2SMJ9 | 8,820 | 0.19% |
| Bannerman Energy Ltd. | $193,743.53 | BMN AU | B07DXJ1 | 76,995 | 0.17% |
| ioneer Ltd. | $190,455.87 | INR AU | BGYBHZ4 | 1,696,312 | 0.16% |
| New Pacific Metals Corp. | $183,309.82 | NEWP | BMX73Y6 | 67,642 | 0.16% |
| IsoEnergy Ltd. | $174,512.73 | ISO CN | BTTRKM6 | 17,569 | 0.15% |
| Silver Mines Ltd. | $176,937.61 | SVL AU | B1HMJH5 | 1,275,737 | 0.15% |
| Syrah Resources Ltd. | $178,213.22 | SYR AU | B23HV20 | 899,454 | 0.15% |
| Lotus Resources Ltd. | $146,978.40 | LOT AU | BK6XLC1 | 967,578 | 0.13% |
| Lifezone Metals Ltd. | $145,188.16 | LZM | BLCY1J2 | 26,689 | 0.13% |
| ATALAYA MINING COPPER SA | $137,719.10 | ATYM LN | BYZTVM8 | 15,451 | 0.12% |
| PMET Resources Inc. | $139,810.62 | PMT AU | BP2VWP4 | 475,708 | 0.12% |
| Ivanhoe Electric Inc. / US | $111,412.64 | IE | BPF0KH6 | 8,956 | 0.10% |
| Global Atomic Corp. | $78,856.86 | GLO CN | BF11BK3 | 159,468 | 0.07% |
| Solaris Resources Inc. | $74,801.23 | SLS CN | BMQ5701 | 11,997 | 0.06% |
| FireFly Metals Ltd. | $57,532.13 | FFM AU | BPDXXB2 | 68,322 | 0.05% |
| Central Asia Metals PLC | $43,439.12 | CAML LN | B67KBV2 | 20,864 | 0.04% |
| SolGold PLC | $40,889.26 | SOLG LN | B0WD0R3 | 200,815 | 0.04% |
| Peninsula Energy Ltd. | $31,361.39 | PEN AU | 6486381 | 70,873 | 0.03% |
| Philex Mining Corp. | $38,802.73 | PX PM | B1FHVG5 | 267,300 | 0.03% |
| Trilogy Metals Inc. | $32,418.88 | TMQ | BD89HT7 | 15,586 | 0.03% |
| Jinchuan Group International Resources Co. Ltd. | $27,605.42 | 2362 HK | 6373988 | 335,600 | 0.02% |
| Leo Lithium Ltd. | $3,739.80 | LLL AU | BPX2X20 | 23,792 | 0.00% |
| Cash Equivalent | $239,468.17 | $239,468.17 | 0.17% |
86 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 |
12/14/2023 |
12/15/2023 |
12/21/2023 |
$0.01 |
- |
$0.43 |
$0.44 |
12/12/2024 |
12/12/2024 |
12/19/2024 |
- |
- |
$0.31 |
$0.31 |
Literature
Fact Sheet
Quarterly Investor Presentation
Index Rebalance
White Paper
FAQs
Regulatory Documents
- Semi-Annual Financial Statements and Other Important Information, June 30, 2025
- Tailored Shareholder Report, June 30, 2025
- Annual Reports Financial Statements and Other Important Information, December 31, 2024
- Tailored Shareholder Report, December 31, 2024
- Tailored Shareholder Report, June 30, 2024
- Semi-Annual Financial Statements and Other Important Information, June 30, 2024
- Summary Prospectus
- Statutory Prospectus
- Statement of Additional Information
- Annual Report, December 31, 2023
Commentary
Critical Materials Breakout into a New Bullish Phase
BY PAUL WONG · 8/22/2025
The convergence of national security imperatives, energy transition policies and evolving trade dynamics is fundamentally redefining the role of critical minerals. The breakout in the Nasdaq Sprott Critical Materials Index™ is an early signal of this shift, reflecting technical strength and deep structural drivers.
Uranium’s Mid-Year Momentum
BY JACOB WHITE · 7/10/2025
Uranium spot prices jumped nearly 10% in June and uranium miners surged, supported by renewed inflows and global pro-nuclear policy momentum. With AI data centers adding a long-term demand driver, we believe uranium’s structural bull case remains intact.
Building an Electrified World: The Strategic Role of Critical Materials
BY STEVE SCHOFFSTALL · 6/16/2025
As the world races to electrify, demand for critical materials like uranium, copper, silver, lithium and nickel is climbing. These metals are foundational to nuclear power, consumer electronics and high-performance batteries — making them indispensable to meeting rising global energy demand.
The White House’s Nuclear Push: What It Means for Uranium Opportunities
VIDEO · JOHN CIAMPAGLIA · 6/04/2025
In this episode of Shifting Energy (Season 2), John Ciampaglia discusses the major policy shift under President Trump’s new executive orders, which aim to fast-track advanced nuclear technologies and revitalize the entire U.S. nuclear fuel cycle.
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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
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1290 Broadway
Suite 1100
Denver, CO 80203