As of 9/23/2022
NAV
$63.81
NAV Daily Change
$-4.46 (-6.53%)
NAV Since Inception Cumulative Change1
178.93%
Ticker/Exchange
URNM
Market Price2
$62.64
Premium/Discount3
-1.83%
Total Net Assets
$843 Million
Net Total Expense Ratio4
0.85%

Overview

Key Points

  1. Pure-Play Uranium ETF: A U.S.-listed Uranium ETF focused on uranium
    miners and physical uranium
  2. Uranium Bull Market: A new uranium bull market is underway, incentivizing miners and investors
  3. Clean Energy Transition: Uranium and nuclear energy may be critical to the clean energy transition
  4. Energy Security: Uranium and nuclear energy may help countries achieve energy security – reliable and affordable electricity

Investment Objective

Sprott Uranium Miners Fund (NYSE Arca: URNM) seeks to invest at least 80% of its total assets in securities of the North Shore Global Uranium Mining Index (URNMX). The Index is designed to track the performance of companies that devote at least 50% of their assets to the uranium mining industry, which may include mining, exploration, development, and production of uranium, or holding physical uranium, owning uranium royalties, or engaging in other, non-mining activities that support the uranium mining industry. The URNMX Index is rebalanced semi-annually. 

 

 

ETF Details As of 9/23/2022
ETF Ticker URNM
Listing Exchange NYSE Arca
CUSIP 85208P303
ISIN US85208P3038
Fund Inception1 December 3, 2019
Index Rebalance Frequency Semi-Annually in March & September
Adviser Sprott Asset Management LP
Sub-Adviser ALPS Advisors, Inc.
Distributor ALPS Distributors, Inc.
 
Index Ticker URNMX
Total Net Assets $843,837,285.92
Shares Outstanding 13,225,000
Number of Holdings 35
Median 30 Day Bid Ask Spread na
Fees and Expenses
Management Fee 0.85%
Other Expenses 0.00%
Total Annual Fund Operating Expenses 0.85%
As of the most recent prospectus.4

Month-End Performance
Average Annual Total Returns (%) As of 8/31/2022

Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR SI1
Sprott Uranium Miners ETF
(Net Asset Value)
11.87 14.11 7.84 33.42 -- -- 56.24
Sprott Uranium Miners ETF
(Market Price)2
11.34 14.40 7.63 31.38 -- -- 55.99
Northshore Global Uranium Mining Index
(Benchmark)5
12.03 14.71 8.47 34.62 -- -- 57.74

Quarter-End Performance
Average Annual Total Returns (%) As of 6/30/2022

Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR SI1
Sprott Uranium Miners ETF
(Net Asset Value)
-16.10 -31.49 -20.72 -2.91 -- -- 42.79
Sprott Uranium Miners ETF
(Market Price)2
-15.79 -31.39 -20.74 -2.81 -- -- 42.62
Northshore Global Uranium Mining Index
(Benchmark)5
0.00 0.00 0.00 0.00 -- -- 0.00

 

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: 12/3/2019.

 

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: 12/3/2019.

 

Frequency Distribution: Premium/Discount

Trading Days Each Quarter

Data updated as of Sep 26, 2022

CY 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Days Traded at Premium 169 42 27 -- --
Days Traded at Discount 86 21 34 -- --

Portfolio Diagnostics

As of 8/31/2022

Number of Issuers 35
Market Cap (millions) $35,037
Weighted Avg. Company Market Cap (millions) $4,283
Market Cap Breakdown
Large (>$10B) 16.73%
Medium ($2 -$10B) 20.52%
Small (<$2B) 52.33%
Not Classified 10.41%
Industry Weighting
Uranium & Related Equities 85.31%
Physical Uranium †† 14.69%

Reflects equities classified by the Bloomberg Industry Classification System (BICS) as uranium; solid waste collection & treatment; nickel, lead & zinc; base metals; mineral & precious stone mining; metals, ore wholesalers & traders.
†† Includes holdings focused on the physical ownership of uranium: Sprott Physical Uranium Trust and Yellow Cake PLC.

Company Domicile Breakdown

As of 8/31/2022

Daily Holdings

As of 9/23/2022

Security Market Value ISIN Symbol SEDOL Quantity Weight
Cameco Corp. $149,643,079.65 CA13321L1085 CCJ 2158684 5,917,085 17.73%
NAC Kazatomprom JSC $147,403,403.84 US63253R2013 KAP LI BGXQL36 5,427,224 17.47%
Sprott Physical Uranium Trust $91,498,805.92 CA85210A1049 U-U CN BNZKG52 8,525,569 10.84%
Paladin Energy Ltd. $44,707,675.13 AU000000PDN8 PDN AU 6668468 86,618,008 5.30%
Uranium Energy Corp. $43,443,689.35 US9168961038 UEC B0VLLY2 13,245,027 5.15%
CGN Mining Co. Ltd. $38,624,206.99 KYG2029E1052 1164 HK B755514 322,545,000 4.58%
Yellow Cake PLC $36,940,655.57 JE00BF50RG45 YCA LN BF50RG4 9,020,363 4.38%
Denison Mines Corp. $33,069,075.12 CA2483561072 DNN B0122F3 30,619,514 3.92%
NexGen Energy Ltd. $32,287,433.76 CA65340P1062 NXE BCH0BB4 9,120,744 3.83%
Energy Fuels Inc. $29,589,110.98 CA2926717083 UUUU BFV4XW8 5,293,222 3.51%
Boss Energy Ltd. $22,678,201.85 AU000000BOE4 BOE AU B1XLCQ6 14,109,990 2.69%
Global Atomic Corp. $21,503,808.81 CA37957M1068 GLO CN BF11BK3 8,547,764 2.55%
Deep Yellow Ltd. $21,326,968.91 AU000000DYL4 DYL AU 6480275 35,480,890 2.53%
Fission Uranium Corp. $16,694,057.27 CA33812R1091 FCU CN B94QMQ6 33,374,612 1.98%
IsoEnergy Ltd. $12,815,454.63 CA46500E1079 ISO CN BD5FYX1 5,200,588 1.52%
Encore Energy Corp. $12,187,025.69 CA29259W7008 EU CN BN48958 4,887,213 1.44%
Ur-Energy Inc. $11,808,221.70 CA91688R1082 URG B0WW4L2 10,734,747 1.40%
Uranium Royalty Corp. $9,873,338.76 CA91702V1013 URC CN BKMD921 4,504,131 1.17%
Lotus Resources Ltd. $8,830,203.51 AU0000058737 LOT AU BK6XLC1 58,761,933 1.05%
Bannerman Energy Ltd. $7,587,244.93 AU000000BMN9 BMN AU B07DXJ1 6,032,628 0.90%
Alligator Energy Ltd. $6,369,736.49 AU000000AGE2 AGE AU B55ZH25 157,247,219 0.75%
Peninsula Energy Ltd. $5,094,551.70 AU000000PEN6 PEN AU 6486381 48,734,800 0.60%
GoviEx Uranium Inc. $4,926,979.45 CA3837981057 GXU CN BNGCT03 28,502,052 0.58%
Consolidated Uranium Inc. $4,452,477.70 CA21024C1014 CUR CN BN75T23 3,307,607 0.53%
Elevate Uranium Ltd. $4,262,026.45 AU0000156416 EL8 AU BM8ZH21 13,312,918 0.51%
Berkeley Energia Ltd. $3,952,285.23 AU000000BKY0 BKY LN B1KZDW4 20,429,540 0.47%
Forsys Metals Corp. $3,971,038.29 CA34660G1046 FSY CN 2597801 9,640,050 0.47%
Laramide Resources Ltd. $3,358,278.87 CA51669T1012 LAM CN 2507952 9,713,643 0.40%
Mega Uranium Ltd. $2,647,486.22 CA58516W1041 MGA CN 2817833 17,556,708 0.31%
Baselode Energy Corp. $2,523,990.20 CA0698251075 FIND CN BLPJL27 4,765,609 0.30%
Toro Energy Ltd. $2,487,293.00 AU000000TOE6 TOE AU B0Z3S54 223,939,767 0.29%
Appia Rare Earths & Uranium Corp. $2,080,511.84 CA03783P1018 API CN BP2R3Y8 6,734,171 0.25%
CanAlaska Uranium Ltd. $1,941,326.72 CA13708P2017 CVV CN 2526924 6,137,527 0.23%
Western Uranium & Vanadium Corp. $1,918,938.50 CA95985D1006 WUC CN BF39VJ4 1,890,363 0.23%
Skyharbour Resources Ltd. $1,792,661.91 CA8308166096 SYH CN BDFGHL3 6,413,248 0.21%
Cash Equivalent $-453,959.02 $-453,959.02 -0.07%

35 total, excluding cash and cash equivalents.  Subject to change.


Distributions

 

Ex-Date Record Date Payable Date Short-Term Capital Gains Long-Term Capital Gains Dividend Income Total Distributions
12/28/2021 12/29/2021 12/31/2021 - - $4.8219 -
12/28/2020 12/29/2020 12/31/2020 - - $1.1043 -

 

 



 


 

 

 

 

 

Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Call 888.622.1813 for current month end performance.

* Returns less than one year are not annualized.

1 Inception Date: 12/3/2019. URNM was reorganized from the North Shore Global Uranium Mining ETF into the Sprott Uranium Miners ETF on 4/25/2022. URNM is a continuation of the prior ETF and, therefore, the performance information shown includes the prior ETF’s performance.

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 prospectus dated April 25, 2022. For the services the Adviser (Sprott Asset Management LP) 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 0.85% on up to $500 million in assets, 0.80% on the next $500 million in assets, and 0.70% on assets greater than $1 billion.

5 The North Shore Global Uranium Mining Index (URNMX) was created by North Shore Indices, Inc. (the “Index Provider”). The Index Provider developed the methodology for determining the securities to be included in the Index and is responsible for ongoing maintenance of the Index. The Index is calculated by Indxx, LLC, which is not affiliated with the North Shore Global Uranium Miners Fund (“Existing Fund”), ALPS Advisors, Inc. (the “Sub-Adviser”) or Sprott Asset Management LP (the “Adviser”). You cannot invest directly in an index. 

 

Important Disclosures

This material must be preceded or accompanied by a prospectus. For an additional copy of the Prospectus please visit https://sprottetfs.com/urnm/prospectus. An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a Sprott Uranium Miners ETF Statutory Prospectus, which contains this and other information, visit https://sprottetfs.com/urnm/prospectus, or contact your financial professional or call 888.622.1813. Read the Prospectus carefully before investing.

The Fund is not suitable for all investors. There are risks involved with investing in ETFs including the loss of money. The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.

The Fund’s investments will be concentrated in the uranium industry. As a result, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the uranium industry. Also, uranium companies may be significantly subject to the effects of competitive pressures in the uranium business and the price of uranium. The price of uranium may be affected by changes in inflation rates, interest rates, monetary policy, economic conditions and political stability. The price of uranium may fluctuate substantially over short periods of time, therefore the Fund’s share price may be more volatile than other types of investments. In addition, they may also be significantly affected by import controls, worldwide competition, liability for environmental damage, depletion of resources, mandated expenditures for safety and pollution control devices, political and economic conditions in uranium producing and consuming countries, and uranium production levels and costs of production. Demand for nuclear energy may face considerable risk as a result of, among other risks, incidents and accidents, breaches of security, ill-intentioned acts of terrorism, air crashes, natural disasters, equipment malfunctions or mishandling in storage, handling, transportation, treatment or conditioning of substances and nuclear materials.

Shares are not individually redeemable. Investors buy and sell shares of the Sprott Uranium Miners ETF on a secondary market. Only market makers or “authorized participants” may trade directly with the Fund, typically in blocks of 50,000 shares.

Funds that emphasize investments in small/mid-capitalization companies will generally experience greater price volatility. Funds investing in foreign and emerging markets will also generally experience greater price volatility. Diversification does not eliminate the risk of experiencing investment losses. ETFs are considered to have continuous liquidity because they allow for an individual to trade throughout the day.

A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses, affect the Fund’s performance.

ALPS Distributors, Inc. is the Distributor for the Sprott Uranium Miners ETF and is a registered broker-dealer and FINRA Member.

Frequency Distribution of Premiums and Discounts


NAV vs Bid/Ask Midpoint

 

Frequency Distribution: Premium/Discount

Trading Days Each Quarter

Data updated as of Sep 26, 2022

CY 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Days Traded at Premium 169 42 27 -- --
Days Traded at Discount 86 21 34 -- --

The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.

The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported net asset value. The amount that the fund's market price is above the reported NAV is called the premium. The amount that the fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

*A unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument.

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).


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