Sprott Critical Materials ETF
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As of December 18, 2025
NAV
$27.37
NAV Daily Change
-$0.36
-1.30%
NAV Since Inception Cumulative Change1
42.03%
Ticker
SETM
Market Price2
$27.53
Premium/Discount3
0.58%
Total Net Asset Value
$203.87 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
December 18, 2025
Total Net Assets
$203,870,401.35
Shares Outstanding
7,450,000
Number of Holdings
88
Median 30 Day Bid Ask Spread
(As of 12/17/2025)
0.43%
Performance
Month-End Performance
Average Annual Total Returns (%) As of 11/30/2025
| Fund | 1 MO* | 3 MO* | YTD* | 1 YR | S.I.*1 |
| Sprott Critical Materials ETF (Net Asset Value) |
2.98 | 26.46 | 83.85 | 59.79 | 13.00 |
| Sprott Critical Materials ETF (Market Price)2 |
3.02 | 27.44 | 85.90 | 60.92 | 13.41 |
| Nasdaq Sprott Critical Materials™ Index (Benchmark)5 |
2.97 | 26.54 | 84.46 | 60.44 | 13.93 |
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 December 18, 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 11/30/2025
| Number of Issuers | 87 |
| Market Cap (millions) | $557,256.60 |
| Weighted Avg. Company Market Cap (millions) | $12,967.49 |
| Market Cap Breakdown | |
| Large (>$10B) | 39.91% |
| Medium ($2 -$10B) | 42.21% |
| Small (<$2B) | 17.88% |
| Material Weightings††† | |
| Lithium Equities | 27.83% |
| Uranium Equities | 19.56% |
| Copper Equities | 18.98% |
| Rare Earths Equities | 14.48% |
| Silver Equities | 13.23% |
| Nickel Equities | 4.32% |
| Manganese Equities | 1.06% |
| Recyclers Equities | 0.40% |
| Graphite Equities | 0.15% |
††† Reflects equities classified by Sprott Asset Management.
Company Domicile Breakdown*
As of 11/30/2025
* 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 12/18/2025
| Security | Market Value | Symbol | SEDOL | Quantity | Weight |
|---|---|---|---|---|---|
| PLS Group Ltd. | $17,329,531.97 | PLS AU | B2368L5 | 6,652,605.00 | 8.50% |
| Albemarle Corp. | $13,389,710.72 | ALB | 2046853 | 95,314.00 | 6.57% |
| MP Materials Corp. | $12,675,226.68 | MP | BN15Y35 | 243,567.00 | 6.22% |
| First Majestic Silver Corp. | $9,387,494.35 | AG | B01DH95 | 581,269.00 | 4.60% |
| Lynas Rare Earths Ltd. | $8,536,484.74 | LYC AU | 6121176 | 1,045,474.00 | 4.19% |
| Uranium Energy Corp. | $8,408,860.50 | UEC | B0VLLY2 | 704,850.00 | 4.12% |
| Cameco Corp. | $7,948,060.16 | CCJ | 2158684 | 90,752.00 | 3.90% |
| Ganfeng Lithium Group Co. Ltd. | $7,157,677.72 | 1772 HK | BZ9NS11 | 1,098,400.00 | 3.51% |
| Freeport-McMoRan Inc. | $6,603,711.44 | FCX | 2352118 | 137,807.00 | 3.24% |
| NAC Kazatomprom JSC | $5,740,907.00 | KAP LI | BGXQL36 | 108,319.00 | 2.82% |
| IGO Ltd. | $5,404,284.54 | IGO AU | 6439567 | 1,076,955.00 | 2.65% |
| Antofagasta PLC | $5,077,188.52 | ANTO LN | 0045614 | 121,719.00 | 2.49% |
| Teck Resources Ltd. | $4,781,596.56 | TECK | 2124533 | 105,694.00 | 2.35% |
| Liontown Ltd. | $4,660,464.15 | LTR AU | B1J89V5 | 4,878,232.00 | 2.29% |
| Lundin Mining Corp. | $4,630,698.20 | LUN CN | 2866857 | 229,396.00 | 2.27% |
| First Quantum Minerals Ltd. | $4,312,138.00 | FM CN | 2347608 | 173,613.00 | 2.12% |
| Aya Gold & Silver Inc. | $4,037,967.38 | AYA CN | BK94091 | 289,087.00 | 1.98% |
| Denison Mines Corp. | $3,944,148.16 | DNN | B0122F3 | 1,534,688.00 | 1.93% |
| NexGen Energy Ltd. | $3,924,161.00 | NXE | BCH0BB4 | 461,666.00 | 1.92% |
| Paladin Energy Ltd. | $3,757,927.91 | PDN AU | 6668468 | 683,166.00 | 1.84% |
| Endeavour Silver Corp. | $3,743,781.00 | EXK | B018TM7 | 406,050.00 | 1.84% |
| Southern Copper Corp. | $3,725,174.96 | SCCO | 2823777 | 26,182.00 | 1.83% |
| Silvercorp Metals Inc. | $2,758,273.02 | SVM | B01DQT8 | 326,037.00 | 1.35% |
| Arafura Rare Earths Ltd. | $2,611,023.68 | ARU AU | 6711726 | 16,805,215.00 | 1.28% |
| KGHM Polska Miedz SA | $2,610,277.01 | KGH PW | 5263251 | 36,523.00 | 1.28% |
| Energy Fuels Inc. | $2,591,332.80 | UUUU | BFV4XW8 | 185,360.00 | 1.27% |
| Tianqi Lithium Corp. | $2,441,818.70 | 9696 HK | BMZ3RS4 | 388,350.00 | 1.20% |
| Sigma Lithium Corp. | $2,270,765.07 | SGML | BNM4ZD8 | 195,587.00 | 1.11% |
| Capstone Copper Corp. | $2,037,024.10 | CS CN | BMY5XY9 | 218,639.00 | 1.00% |
| Vizsla Silver Corp. | $1,818,083.70 | VZLA | BSB7Q07 | 356,487.00 | 0.89% |
| Avino Silver & Gold Mines Ltd. | $1,755,381.20 | ASM | B05P311 | 283,126.00 | 0.86% |
| Hudbay Minerals Inc. | $1,735,015.17 | HBM | B05BQ98 | 91,461.00 | 0.85% |
| Meteoric Resources NL | $1,677,575.38 | MEI AU | B01CRT2 | 17,499,078.00 | 0.82% |
| CGN Mining Co. Ltd. | $1,653,194.03 | 1164 HK | B755514 | 4,420,050.00 | 0.81% |
| Nickel Industries Ltd. | $1,478,083.27 | NIC AU | BZ7NDP2 | 2,961,100.00 | 0.73% |
| Standard Lithium Ltd. | $1,449,163.72 | SLI | BF0QWN9 | 284,708.00 | 0.71% |
| Cia de Minas Buenaventura SAA | $1,446,513.00 | BVN | 2210476 | 51,204.00 | 0.71% |
| Ivanhoe Mines Ltd. | $1,384,185.38 | IVN CN | BD73C40 | 139,039.00 | 0.68% |
| Vale Indonesia Tbk PT | $1,378,571.22 | INCO IJ | B0217K9 | 5,285,050.00 | 0.68% |
| Merdeka Battery Materials Tbk PT | $1,306,467.54 | MBMA IJ | BMBR1M2 | 40,069,000.00 | 0.64% |
| China Gold International Resources Corp. Ltd. | $1,279,813.12 | 2099 HK | B60FNV8 | 64,700.00 | 0.63% |
| AbraSilver Resource Corp. | $1,199,451.79 | ABRA CN | BR4XSQ5 | 167,141.00 | 0.59% |
| Lithium Americas Corp. | $1,144,396.20 | LAC | BQ2LQL5 | 253,185.00 | 0.56% |
| Americas Gold & Silver Corp. | $1,095,137.96 | USAS | BVMDRM4 | 205,853.00 | 0.54% |
| Eramet SA | $1,092,308.26 | ERA FP | 4017017 | 18,619.00 | 0.54% |
| MMG Ltd. | $1,071,709.42 | 1208 HK | 6728793 | 1,011,920.00 | 0.53% |
| Elevra Lithium Ltd. | $1,055,659.40 | ELV AU | BVBM1M0 | 237,252.00 | 0.52% |
| Core Lithium Ltd. | $1,048,482.43 | CXO AU | B4XFS83 | 6,607,711.00 | 0.51% |
| Lithium Argentina AG | $1,000,682.10 | LAR | BS2CSN8 | 202,158.00 | 0.49% |
| GoGold Resources Inc. | $930,180.13 | GGD CN | B60BNP0 | 452,978.00 | 0.46% |
| Ur-Energy Inc. | $817,279.40 | URG | B0WW4L2 | 583,771.00 | 0.40% |
| Deep Yellow Ltd. | $793,527.27 | DYL AU | 6480275 | 725,212.00 | 0.39% |
| Encore Energy Corp. | $755,897.05 | EU CN | BN48958 | 319,552.00 | 0.37% |
| Sandfire Resources Ltd. | $734,619.89 | SFR AU | 6739739 | 65,207.00 | 0.36% |
| Vulcan Energy Resources Ltd. | $628,420.62 | VUL AU | BKYBH63 | 248,172.00 | 0.31% |
| ERO Copper Corp. | $601,834.05 | ERO CN | BF02Z72 | 23,563.00 | 0.30% |
| Taseko Mines Ltd. | $571,819.86 | TGB | 2592066 | 111,249.00 | 0.28% |
| MOIL Ltd. | $554,694.18 | MOIL IN | B4NRBT1 | 156,503.00 | 0.27% |
| Hindustan Copper Ltd. | $537,834.65 | HCP IN | B02GZ11 | 125,290.00 | 0.26% |
| NGEx Minerals Ltd. | $492,400.39 | NGEX CN | BVBCQW5 | 26,080.00 | 0.24% |
| Boss Energy Ltd. | $459,087.66 | BOE AU | B1XLCQ6 | 588,457.00 | 0.23% |
| Jupiter Mines Ltd. | $435,799.05 | JMS AU | BF4J2C3 | 2,441,314.00 | 0.21% |
| American Battery Technology Co. | $412,027.07 | ABAT | BQC80B4 | 109,291.00 | 0.20% |
| Sungeel Hitech Co. Ltd. | $404,390.56 | 365340KS | BP2SMJ9 | 14,780.00 | 0.20% |
| New Pacific Metals Corp. | $394,225.65 | NEWP | BMX73Y6 | 112,315.00 | 0.19% |
| Uranium Royalty Corp. | $354,196.80 | UROY | BL7BHH8 | 98,388.00 | 0.17% |
| ioneer Ltd. | $290,298.20 | INR AU | BGYBHZ4 | 2,832,786.00 | 0.14% |
| Silver Mines Ltd. | $288,749.76 | SVL AU | B1HMJH5 | 2,130,438.00 | 0.14% |
| ATALAYA MINING COPPER SA | $275,602.35 | ATYM LN | BYZTVM8 | 25,881.00 | 0.14% |
| PMET Resources Inc. | $267,862.96 | PMT AU | BP2VWP4 | 794,408.00 | 0.13% |
| Syrah Resources Ltd. | $267,779.16 | SYR AU | B23HV20 | 1,500,079.00 | 0.13% |
| Bannerman Energy Ltd. | $246,470.86 | BMN AU | B07DXJ1 | 128,549.00 | 0.12% |
| IsoEnergy Ltd. | $233,233.03 | ISO CN | BTTRKM6 | 29,489.00 | 0.11% |
| Ivanhoe Electric Inc. / US | $215,685.36 | IE | BPF0KH6 | 14,916.00 | 0.11% |
| Lotus Resources Ltd. | $170,928.94 | LOT AU | BK6XLC1 | 1,615,834.00 | 0.08% |
| Lifezone Metals Ltd. | $167,579.44 | LZM | BLCY1J2 | 44,569.00 | 0.08% |
| Solaris Resources Inc. | $154,741.88 | SLS CN | BMQ5701 | 20,043.00 | 0.08% |
| FireFly Metals Ltd. | $143,470.66 | FFM AU | BPDXXB2 | 113,022.00 | 0.07% |
| Global Atomic Corp. | $123,598.51 | GLO CN | BF11BK3 | 266,152.00 | 0.06% |
| Trilogy Metals Inc. | $114,445.10 | TMQ | BD89HT7 | 25,718.00 | 0.06% |
| SolGold PLC | $108,590.92 | SOLG LN | B0WD0R3 | 329,297.00 | 0.05% |
| Central Asia Metals PLC | $86,067.32 | CAML LN | B67KBV2 | 35,466.00 | 0.04% |
| Philex Mining Corp. | $76,184.78 | PX PM | B1FHVG5 | 446,100.00 | 0.04% |
| Peninsula Energy Ltd. | $47,619.73 | PEN AU | 6486381 | 120,043.00 | 0.02% |
| Jinchuan Group International Resources Co. Ltd. | $26,619.02 | 2362 HK | 6373988 | 323,600.00 | 0.01% |
| LunR Royalties Corp. | $3,141.47 | 2584272D | 5,312.00 | 0.00% | |
| Leo Lithium Ltd. | $157.30 | LLL AU | BPX2X20 | 23,792.00 | 0.00% |
| Vulcan Energy Resources Ltd. | $0.14 | BWH3WJ8 | BWH3WJ8 | 205,797.00 | 0.00% |
| Cash Equivalent | $-2,884,244.15 | $-2,884,244.15 | -1.41% |
88 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 |
12/18/2025 |
12/18/2025 |
12/22/2025 |
- |
- |
$0.45 |
$0.45 |
Literature
Fact Sheet
Quarterly Investor Presentation
Index Rebalance
White Paper
FAQs
Year-End Distributions
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
Metals & Mining: Year in Review, Future in Focus
BY WHITNEY GEORGE, JUSTIN TOLMAN AND ED COYNE · 12/17/2025
Host Ed Coyne speaks to Sprott CEO Whitney George and Portfolio Manager Justin Tolman about the firm's strong performance in 2025, highlighting significant gains across gold, silver, copper and related strategies, driven by resource nationalization and supply disruptions. Looking ahead to 2026, they anticipate continued opportunities, increased investor interest and ongoing M&A activity as the mining and metals space gains broader recognition.
Nasdaq Talk Your Ticker: SETM
BY STEVE SCHOFFSTALL · 12/5/2025
Steve Schoffstall joins Nasdaq’s Talk Your Ticker to discuss the Sprott Critical Materials ETF (SETM), highlighting its pure-play exposure to miners of nine essential metals and its role in diversifying portfolios amid rising energy demand and security concerns.
Lithium Gains Momentum in 2025
BY JACOB WHITE · 12/2/2025
Lithium has entered a renewed bull phase as tightening supply, rising global demand from EVs to data centers, and major strategic investments shift the market from surplus toward potential deficit. Governments, oil majors and tech giants are racing to secure supply, solidifying lithium's essential role in long-term energy security.
National Security, Mining Investment and the Future of Materials: A Critical Crossroads
BY STEVE SCHOFFSTALL · 11/27/2025
In this episode of Metals in Motion, Steve Schoffstall discusses how government initiatives and major private-sector investment are transforming the critical materials space. New U.S. equity stakes, global agreements and nuclear projects are accelerating efforts to rebuild secure domestic supply chains.
Rare Earths and Critical Minerals: The Hidden Engine of Electrification
BY STEVE SCHOFFSTALL · 11/3/2025
Sprott’s Steve Schoffstall joins James Connor to discuss the global race for critical materials, from rare earths and uranium to lithium and copper. Schoffstall discusses how investors can gain exposure through Sprott’s suite of innovative ETFs.
Sprott Uranium Report: Investors Act with Conviction
BY JACOB WHITE · 10/06/2025
Uranium prices and miners surged in September, fueled by tight supply and strong utility demand. The rally drew renewed investor interest, with capital flows into uranium equities and ETFs reinforcing confidence in the sector’s momentum.
Copper Fundamentals Prevail After Tariff Turmoil
BY JACOB WHITE · 9/08/2025
Copper rallied in August, with junior copper miners taking top performance honors. Policy momentum is accelerating as copper gains critical minerals status and attracts major investment. Copper miners are enjoying strong margins as copper demand rises to support electrification, AI and defense.
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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