Sprott Critical Materials ETF

As of October 17, 2025

NAV

$27.15

NAV Daily Change

-$1.40

trending down -4.90%

NAV Since Inception Cumulative Change1

trending up 38.61%

Ticker

SETM

Market Price2

$27.09

Premium/Discount3

-0.22%

Total Net Asset Value

$159.94 Million

Net Total Expense Ratio4

0.65%

Overview

Key Points

  1. Pure-Play Critical Materials ETF – Provides pure-play access to a range of critical materials necessary to meet the rising global demand for energy.
  2. 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.
  3. 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.
  4. 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

CUSIP

Show CUSIP

CUSIP: 85208P402

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 17, 2025

Total Net Assets

$159,935,225.23

Shares Outstanding

5,890,000

Number of Holdings

86

Median 30 Day Bid Ask Spread
(As of 10/16/2025)

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 19, 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 9/30/2025

Number of Issuers 86
Market Cap (millions) $512,558.60
Weighted Avg. Company Market Cap (millions) $12,098.64
Market Cap Breakdown
Large (>$10B) 41.58%
Medium ($2 -$10B) 39.09%
Small (<$2B) 19.33%
Material Weightings†††
Uranium Equities 24.41%
Lithium Equities 20.13%
Copper Equities 19.70%
Rare Earths Equities 17.15%
Silver Equities 12.31%
Nickel Equities 4.45%
Manganese Equities 1.22%
Recyclers Equities 0.48%
Graphite Equities 0.14%

††† Reflects equities classified by Sprott Asset Management.

Company Domicile Breakdown*

As of 9/30/2025

* 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.

upstream

Holdings

As of 10/17/2025

Security Market Value Symbol SEDOL Quantity Weight
MP Materials Corp. $15,556,518.45 MP BN15Y35 192,555 9.73%
Lynas Rare Earths Ltd. $10,336,400.28 LYC AU 6121176 826,450 6.46%
Pilbara Minerals Ltd. $9,161,645.70 PLS AU B2368L5 5,258,853 5.73%
Uranium Energy Corp. $8,284,805.63 UEC B0VLLY2 557,149 5.18%
Albemarle Corp. $6,987,588.04 ALB 2046853 75,346 4.37%
First Majestic Silver Corp. $6,446,279.92 AG B01DH95 459,464 4.03%
Cameco Corp. $6,210,234.80 CCJ 2158684 71,720 3.88%
Ganfeng Lithium Group Co. Ltd. $4,798,975.34 1772 HK BZ9NS11 859,000 3.00%
Freeport-McMoRan Inc. $4,486,437.46 FCX 2352118 108,947 2.81%
NAC Kazatomprom JSC $4,491,007.50 KAP LI BGXQL36 85,543 2.81%
Teck Resources Ltd. $3,621,545.70 TECK 2124533 83,542 2.26%
Denison Mines Corp. $3,541,580.40 DNN B0122F3 1,212,870 2.21%
Arafura Rare Earths Ltd. $3,496,639.01 ARU AU 6711726 13,281,530 2.19%
Antofagasta PLC $3,441,191.87 ANTO LN 0045614 96,166 2.15%
Paladin Energy Ltd. $3,229,156.10 PDN AU 6668468 539,950 2.02%
Energy Fuels Inc. $3,085,626.96 UUUU BFV4XW8 146,516 1.93%
NexGen Energy Ltd. $3,075,331.44 NXE BCH0BB4 364,808 1.92%
First Quantum Minerals Ltd. $3,045,326.90 FM CN 2347608 137,265 1.90%
IGO Ltd. $2,943,329.41 IGO AU 6439567 851,098 1.84%
Endeavour Silver Corp. $2,907,118.44 EXK B018TM7 320,874 1.82%
Aya Gold & Silver Inc. $2,790,626.53 AYA CN BK94091 228,559 1.74%
Lundin Mining Corp. $2,762,892.78 LUN CN 2866857 181,348 1.73%
Liontown Resources Ltd. $2,744,278.53 LTR AU B1J89V5 3,855,373 1.72%
Southern Copper Corp. $2,666,297.40 SCCO 2823777 20,540 1.67%
Meteoric Resources NL $1,932,504.29 MEI AU B01CRT2 13,827,203 1.21%
Silvercorp Metals Inc. $1,787,417.82 SVM B01DQT8 257,553 1.12%
Tianqi Lithium Corp. $1,765,509.85 9696 HK BMZ3RS4 316,750 1.10%
CGN Mining Co. Ltd. $1,490,242.07 1164 HK B755514 3,385,050 0.93%
KGHM Polska Miedz SA $1,492,151.87 KGH PW 5263251 28,879 0.93%
Capstone Copper Corp. $1,369,169.65 CS CN BMY5XY9 172,699 0.86%
Lithium Americas Corp. $1,357,925.31 LAC BQ2LQL5 199,989 0.85%
Avino Silver & Gold Mines Ltd. $1,326,481.70 ASM B05P311 223,690 0.83%
Vizsla Silver Corp. $1,275,679.71 VZLA BSB7Q07 281,607 0.80%
Hudbay Minerals Inc. $1,185,999.93 HBM B05BQ98 72,273 0.74%
Ivanhoe Mines Ltd. $1,154,060.18 IVN CN BD73C40 109,867 0.72%
Nickel Industries Ltd. $1,117,554.14 NIC AU BZ7NDP2 2,339,018 0.70%
Vale Indonesia Tbk PT $1,063,259.29 INCO IJ B0217K9 4,177,450 0.66%
Merdeka Battery Materials Tbk PT $1,049,803.38 MBMA IJ BMBR1M2 31,646,800 0.66%
Cia de Minas Buenaventura SAA $1,034,050.80 BVN 2210476 40,440 0.65%
Eramet SA $1,028,045.45 ERA FP 4017017 14,719 0.64%
Sigma Lithium Corp. $959,811.39 SGML BNM4ZD8 154,559 0.60%
Standard Lithium Ltd. $967,035.60 SLI BF0QWN9 224,892 0.60%
China Gold International Resources Corp. Ltd. $924,444.39 2099 HK B60FNV8 54,200 0.58%
Deep Yellow Ltd. $863,897.40 DYL AU 6480275 572,831 0.54%
Vulcan Energy Resources Ltd. $839,923.63 VUL AU BKYBH63 196,068 0.53%
Encore Energy Corp. $819,600.67 EU CN BN48958 252,428 0.51%
GoGold Resources Inc. $732,820.25 GGD CN B60BNP0 357,818 0.46%
Ur-Energy Inc. $742,459.55 URG B0WW4L2 461,155 0.46%
Americas Gold & Silver Corp. $730,258.09 USAS BVMDRM4 162,641 0.46%
Lithium Argentina AG $646,890.30 LAR BS2CSN8 159,726 0.40%
AbraSilver Resource Corp. $571,940.54 ABRA CN BR4XSQ5 132,041 0.36%
Boss Energy Ltd. $551,449.34 BOE AU B1XLCQ6 464,831 0.34%
Elevra Lithium Ltd. $545,644.16 ELV AU BVBM1M0 187,363 0.34%
MMG Ltd. $527,174.82 1208 HK 6728793 643,920 0.33%
Sandfire Resources Ltd. $525,384.70 SFR AU 6739739 51,479 0.33%
MOIL Ltd. $516,259.78 MOIL IN B4NRBT1 123,119 0.32%
Core Lithium Ltd. $441,088.68 CXO AU B4XFS83 5,219,572 0.28%
American Battery Technology Co. $418,084.55 ABAT BQC80B4 86,203 0.26%
ERO Copper Corp. $409,891.20 ERO CN BF02Z72 18,571 0.26%
Hindustan Copper Ltd. $382,690.93 HCP IN B02GZ11 98,458 0.24%
NGEx Minerals Ltd. $371,685.30 NGEX CN BKDKBL4 20,620 0.23%
Sungeel Hitech Co. Ltd. $354,527.03 365340KS BP2SMJ9 11,660 0.22%
ioneer Ltd. $334,560.64 INR AU BGYBHZ4 2,237,687 0.21%
Taseko Mines Ltd. $339,975.63 TGB 2592066 87,849 0.21%
Jupiter Mines Ltd. $319,662.86 JMS AU BF4J2C3 1,928,432 0.20%
Syrah Resources Ltd. $319,829.27 SYR AU B23HV20 1,185,557 0.20%
Uranium Royalty Corp. $314,567.55 UROY BL7BHH8 77,671 0.20%
Bannerman Energy Ltd. $232,389.93 BMN AU B07DXJ1 101,561 0.15%
Silver Mines Ltd. $235,198.41 SVL AU B1HMJH5 1,682,861 0.15%
New Pacific Metals Corp. $217,841.75 NEWP BMX73Y6 88,915 0.14%
IsoEnergy Ltd. $201,739.64 ISO CN BTTRKM6 23,249 0.13%
Lifezone Metals Ltd. $199,282.94 LZM BLCY1J2 35,209 0.12%
PMET Resources Inc. $187,639.12 PMT AU BP2VWP4 627,506 0.12%
ATALAYA MINING COPPER SA $172,326.80 ATYM LN BYZTVM8 20,421 0.11%
Ivanhoe Electric Inc. / US $179,181.24 IE BPF0KH6 11,796 0.11%
Lotus Resources Ltd. $174,242.50 LOT AU BK6XLC1 1,276,401 0.11%
Trilogy Metals Inc. $131,874.44 TMQ BD89HT7 20,414 0.08%
FireFly Metals Ltd. $93,505.54 FFM AU BPDXXB2 89,622 0.06%
Global Atomic Corp. $82,539.84 GLO CN BF11BK3 210,304 0.05%
Solaris Resources Inc. $85,630.98 SLS CN BMQ5701 15,831 0.05%
Central Asia Metals PLC $56,452.28 CAML LN B67KBV2 27,822 0.04%
Philex Mining Corp. $58,239.92 PX PM B1FHVG5 352,500 0.04%
SolGold PLC $63,093.36 SOLG LN B0WD0R3 262,017 0.04%
Peninsula Energy Ltd. $41,685.22 PEN AU 6486381 94,303 0.03%
Jinchuan Group International Resources Co. Ltd. $26,659.63 2362 HK 6373988 323,600 0.02%
Leo Lithium Ltd. $278.39 LLL AU BPX2X20 23,792 0.00%
Cash Equivalent $483,175.02 $483,175.02 0.28%

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

Commentary

Shutterstock 1064209898

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.

Istock 538614303

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.

Adobestock 944820873

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.

Video Images 1920X1080 John Ciampaglia

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

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