For investors seeking investment in uranium, ETFs can provide indirect exposure to the metal by holding a basket of uranium stocks. See the top uranium ETFs, as measured by 1-year performance through February 28, 2022, and learn details about holdings, long-term performance, and how these funds work.
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Investing in Nuclear Power & Uranium
Uranium is a heavy metal that can be enriched and used as fuel for nuclear power plants or for nuclear reactors that power naval ships and submarines. Uranium can also be used in nuclear weapons. As a financial asset, investors may gain indirect exposure to uranium through stocks of uranium miners, uranium ETFs, and clean energy ETFs.
Uranium ETFs and stocks have gained interest among the investment community as the demand for uranium, along with nuclear power as an alternative energy source, has pushed prices for the metal higher. The price of uranium has climbed more than 90% in value through the past 12 months ending March 21, 2022. On March 17, 2022 US Senators proposed a bill to ban the import of Russian uranium, which could push prices higher in the short term.
Evaluating Uranium & Nuclear Energy ETFs
Our list of uranium ETFs are ranked in order of the trailing 1-year return, as of February 28, 2022. When researching ETFs, investors are wise to consider more than short-term performance and also include long-term returns, expense ratio, holdings, and ratings in their research.
Criteria used to evaluate the best uranium ETFs include:
- Performance: 1-year return is the primary selection criteria for evaluating the performance of our list of best uranium ETFs. When possible, investors are wise to review longer historical performance, such as 3-, 5-, and 10-year returns, before considering the purchase of an ETF.
- Expenses: ETFs in the same category often track the same or a similar index, which means that the one with the lowest expense ratio will generally outperform those with higher expenses. Thus, a low expense ratio, or the cost of holding the fund, is an important criterion to review when researching ETFs.
- Structure: Most ETFs are structured as open-ended investment companies, as opposed to closed-end funds, or CEFs. Some ETFs are structured as partnerships or grantor trusts.
- Objective: Only ETFs that primarily hold uranium stocks, or uranium miners in combination with nuclear energy stocks, were considered for our list.
- Portfolio holdings: Uranium ETFs typically hold stocks of companies involved in uranium mining and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries.
- Quant Ratings and Factor Grades: Seeking Alpha's Quant Ratings and Factor Grades can be used for evaluating stocks or ETFs. In this article, we share what are called, "Factor Grades," which provide letter grades for five "factors" - Momentum, Expenses, Dividends, Risk, and Asset Flows. To do this, Seeking Alpha compares the relevant metrics for the factor to the same metrics for the other ETFs in its asset class. The factor grades range from a high of A+ to a low of F.
3 Best-Performing Uranium ETFs
| Fund Name (Ticker) | 1-Yr Performance |
| North Shore Global Uranium Mining ETF (URNM) | 48.07% |
| Global X Uranium ETF (URA) | 41.71% |
| VanEck Uranium+Nuclear Energy ETF (NLR) | 15.71% |
There are only three US-listed ETFs that primarily focus on uranium or a combination of uranium and nuclear energy. We cover all three here. Ranking is based upon the 1-year return through February 28, 2022. During this period, the best uranium ETF was URNM with a 1-year gain in net asset value of 48.07%.
For consistency, we compare performance of each ETF to the Solactive Global Uranium & Nuclear Components Total Return Index.
1. North Shore Global Uranium Mining ETF (URNM)
- As of date: February 28, 2022
- 1-year performance: 48.07%
- Expense Ratio: 0.85%, or $85 annually for every $10,000 invested
- Annual Dividend Yield: None
- Three-Month Average Daily Volume: 370k
The North Shore Global Uranium Mining ETF seeks to passively track the performance of the North Shore Global Uranium Mining Index. As such URNM consists of stock of companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets.
North Shore Global Uranium Mining ETF Performance
| 1-yr | 3-yr | 5-yr | 10-yr | |
| North Shore Global Uranium Mining ETF | 48.07 | NA | NA | NA |
| Solactive Global Uranium & Nuclear TR Index | 42.56 | 28.34 | 10.62 | -6.25 |
| S&P 500 Index | 16.39 | 18.24 | 15.17 | 14.59 |
URNM performs slightly below the Global Uranium & Nuclear index, while significantly outperforming the S&P 500 for the 1-year return. A $10,000 investment in URNM, 1 year ago, would be worth $14,807 as of February 28, 2022.
North Shore Global Uranium Mining ETF Structure, Objective & Holdings
- Inception Date: 12/03/2019
- Sponsor: Exchange Traded Concepts, LLC
- Ticker: URNM
- Primary exchange: NYSE Arca
- Structure: Open Ended Investment Company
- Objective: Seeks to passively track the performance of the North Shore Global Uranium Mining Index.
- Holdings: 35 stocks of companies that are involved in uranium mining and processing.
Seeking Alpha Quant Rating Grades: URNM ETF
| Momentum | Expenses | Dividends | Risk | Asset Flows |
| A+ | F | - | F | A+ |
2. Global X Uranium ETF (URA)
- As of date: February 28, 2022
- 1-year performance: 41.71%
- Expense Ratio: 0.69%, or $69 annually for every $10,000 invested
- Annual Dividend Yield: 0.69%
- Three-Month Average Daily Volume: 2.4M
The Global X Uranium ETF seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Uranium & Nuclear Components Total Return Index. URA provides exposure to a broad range of companies involved in uranium mining and in nuclear production industries.
Global X Uranium ETF Performance
| 1-yr | 3-yr | 5-yr | 10-yr | |
| Global X Uranium ETF | 41.71 | 27.54 | 9.81 | -6.91 |
| Solactive Global Uranium & Nuclear TR Index | 42.56 | 28.34 | 10.62 | -6.25 |
| S&P 500 Index | 16.39 | 18.24 | 15.17 | 14.59 |
URA performs slightly below the Global Uranium & Nuclear index, while significantly outperforming the S&P 500 for the 1-year and 3-year returns. Long-term results lag the S&P 500.
Here is where a $10,000 investment in URA, 1 year, 3 years, 5 years, and 10 years ago, would be as of February 28, 2022:
- 1 year ago: $14,171
- 3 years ago: $20,746
- 5 years ago: $15,966
- 10 years ago: $4,887
Global X Uranium ETF Structure, Objective & Holdings
- Inception Date: 11/04/2010
- Sponsor: Global X Management Company LLC
- Ticker: URA
- Primary exchange: NYSE Arca
- Structure: Open Ended Investment Company
- Objective: Passively track the performance of the Solactive Global Uranium & Nuclear Components Total Return Index.
- Holdings: 50 stocks of companies involved in uranium mining and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries.
Seeking Alpha Quant Rating Grades: URA ETF
| Momentum | Expenses | Dividends | Risk | Asset Flows |
| A+ | D- | A+ | F | A+ |
3. VanEck Uranium+Nuclear Energy ETF (NLR)
- As of date: February 28, 2022
- 1-year performance: 15.71%
- Expense Ratio: 1.25%, or $125 annually for every $10,000 invested
- Annual Dividend Yield: 2.39%
- Three-Month Average Daily Volume: 6.7K
VanEck Uranium+Nuclear Energy ETF seeks to passively track the performance of the MVIS Global Uranium & Nuclear Energy Index. NLR provides exposure to companies involved in uranium mining and in the nuclear power industry.
VanEck Uranium+Nuclear Energy ETF Performance
| 1-yr | 3-yr | 5-yr | 10-yr | |
| VanEck Uranium+Nuclear Energy ETF | 15.71 | 3.60 | 5.01 | 3.49 |
| Solactive Global Uranium & Nuclear TR Index | 42.56 | 28.34 | 10.62 | -6.25 |
| S&P 500 Index | 16.39 | 18.24 | 15.17 | 14.59 |
Although NLR performs below the Solactive Global Uranium & Nuclear TR Index for the 1-, 3- and 5-year returns, it does closely track its benchmark, the MVIS Global Uranium & Nuclear Energy Index. NLR underperforms the S&P 500 in all periods but it outperforms other uranium ETFs for the 10-year return.
Here is where a $10,000 investment in NRL, 1 year, 3 years, 5 years, and 10 years ago, would be as of February 28, 2022:
- 1 year ago: $11,571
- 3 years ago: $11,119
- 5 years ago: $12,769
- 10 years ago: $14,092
VanEck Uranium+Nuclear Energy ETF Structure, Objective & Holdings
- Inception Date: 08/13/2007
- Sponsor: Van Eck Associates Corporation
- Ticker: NLR
- Primary exchange: NYSE Arca
- Structure: Open Ended Investment Company
- Objective: Seeks to passively track the performance of the MVIS Global Uranium & Nuclear Energy Index.
- Holdings: 26 stocks of companies involved in uranium mining and the nuclear power industry.
Seeking Alpha Quant Rating Grades: NLR ETF
| Momentum | Expenses | Dividends | Risk | Asset Flows |
| C+ | D+ | D | A- | A- |
Bottom Line
There are three uranium ETFs that are traded on US markets. A uranium ETF may hold stocks of companies involved in uranium mining or they may invest in a combination of uranium miners and companies in the nuclear power industry. Investors should study the benefits and risks of uranium and nuclear ETFs before considering an investment.