As of 5/24/2024
NAV
$28.55
NAV Daily Change
$0.15 (0.53%)
NAV Since Inception Cumulative Change1
46.59%
Ticker/Exchange
URNJ
Market Price2
$28.67
Premium/Discount3
0.42%
Total Net Assets
$399 Million
Net Total Expense Ratio4
0.80%

Overview

Key Points

  1. Pure-Play Junior Uranium ETF – The only pure-play ETF focused on small uranium miners, with the potential for significant revenue and asset growth
  2. Uranium Bull Market – A new uranium bull market is likely underway, incentivizing miners to explore and develop new uranium mines
  3. Critical Mineral in Clean Energy Transition – Uranium and nuclear energy are critical to the clean energy transition
  4. Supporting Energy Security – Uranium and nuclear energy provide reliable, affordable electricity that may help countries achieve energy security

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.

Based on Morningstar’s universe of Natural Resources Sector Equity ETFs as of 6/30/2023.

Investment Objective

Sprott Junior Uranium Miners ETF (Nasdaq: URNJ) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Nasdaq Sprott Junior Uranium Miners™ Index (NSURNJ™), which is designed to track the performance of mid-, small- and micro-cap companies in uranium-mining related businesses.

 

Featured Insight


4/19/2024

SPECIAL REPORT

Nuclear Revival: A Resurgence for Uranium Miners

Rising global commitments to nuclear energy are helping to make uranium a compelling investment. We believe that uranium miners can add growth potential and diversification to investor portfolios.

 

ETF Details As of 5/24/2024
ETF Ticker URNJ
Index Ticker NSURNJ™
Listing Exchange Nasdaq®
CUSIP
ISIN
Fund Inception1 February 1, 2023
Index Rebalance Frequency Semi-Annually in June & December
 
Total Net Assets $399,146,485.18
Shares Outstanding 13,980,000
Number of Holdings 33
Median 30 Day Bid Ask Spread
(As of 5/23/2024)
0.57 %
Adviser Sprott Asset Management USA, Inc.
Sponsor Sprott Asset Management LP
Sub-Adviser ALPS Advisors, Inc.
Distributor ALPS Distributors, Inc.
Fees and Expenses
Management Fee 0.80%
Other Expenses 0.00%
Total Annual Fund Operating Expenses 0.80%
As of the most recent prospectus.4

Month-End Performance
Average Annual Total Returns (%) As of 4/30/2024

Fund 1 MO* 3 MO* S.I.*1
Sprott Junior Uranium Miners ETF
(Net Asset Value)
1.35 -7.80 24.45
Sprott Junior Uranium Miners ETF
(Market Price)2
-1.10 -9.78 22.60
NASDAQ Sprott Junior Uranium Miners™ Index
(Benchmark)5
1.53 -7.81 25.24

Quarter-End Performance
Average Annual Total Returns (%) As of 3/31/2024

Fund 1 MO* 3 MO* S.I.*1
Sprott Junior Uranium Miners ETF
(Net Asset Value)
2.48 7.83 24.94
Sprott Junior Uranium Miners ETF
(Market Price)2
4.11 7.82 25.58
NASDAQ Sprott Junior Uranium Miners™ Index
(Benchmark)5
2.52 7.92 25.60

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 0.80% of net assets.

5 The Nasdaq Sprott Junior Uranium Miners™ Index (NSURNJ™) 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: 2/1/2023.

 

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: 2/1/2023.

 

Frequency Distribution: Premium/Discount

Trading Days Each Quarter
CY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Days Traded at Premium 154 39 -- -- --
Days Traded at Discount 67 22 -- -- --

Portfolio Characteristics

As of 4/30/2024

Number of Issuers 35
Market Cap (millions) $21,777.41
Weighted Avg. Company Market Cap (millions) $1,789.45
Market Cap Breakdown
Large (>$10B) 0.00%
Medium ($2 -$10B) 38.73%
Small (<$2B) 61.27%
Material Weightings††
Uranium Equities 100.00%

†† Reflects equities classified by Sprott Asset Management.

Company Domicile Breakdown

As of 4/30/2024

Daily Holdings

As of 5/24/2024

Security Market Value Symbol SEDOL Quantity Weight
Paladin Energy Ltd. $62,703,058.60 PDN AU 6668468 5,955,606 15.71%
Denison Mines Corp. $46,242,878.00 DNN B0122F3 19,932,275 11.59%
NexGen Energy Ltd. $45,627,063.93 NXE BCH0BB4 5,872,209 11.43%
Uranium Energy Corp. $42,727,474.02 UEC B0VLLY2 5,885,327 10.70%
CGN Mining Co. Ltd. $23,319,952.39 1164 HK B755514 68,497,100 5.84%
Deep Yellow Ltd. $21,394,472.14 DYL AU 6480275 19,616,585 5.36%
Boss Energy Ltd. $19,604,199.15 BOE AU B1XLCQ6 5,506,334 4.91%
Encore Energy Corp. $18,600,871.77 EU CN BN48958 3,922,832 4.66%
Fission Uranium Corp. $14,929,328.73 FCU CN B94QMQ6 18,216,447 3.74%
Energy Fuels Inc. $12,493,985.76 UUUU BFV4XW8 1,904,571 3.13%
Ur-Energy Inc. $12,429,447.36 URG B0WW4L2 7,062,186 3.11%
Lotus Resources Ltd. $10,933,729.11 LOT AU BK6XLC1 35,850,747 2.74%
Bannerman Energy Ltd. $10,622,818.80 BMN AU B07DXJ1 3,641,454 2.66%
Global Atomic Corp. $9,302,578.84 GLO CN BF11BK3 5,275,064 2.33%
Uranium Royalty Corp. $7,145,253.00 UROY BL7BHH8 2,646,390 1.79%
IsoEnergy Ltd. $5,005,424.59 ISO CN BD5FYX1 1,609,509 1.25%
Alligator Energy Ltd. $4,596,880.60 AGE AU B55ZH25 108,335,547 1.15%
Laramide Resources Ltd. $4,153,935.51 LAM CN 2507952 6,525,021 1.04%
F3 Uranium Corp. $3,265,387.60 FUU CN BPRSXG8 11,743,365 0.82%
Mega Uranium Ltd. $2,998,061.47 MGA CN 2817833 10,242,877 0.75%
Elevate Uranium Ltd. $2,846,618.91 EL8 AU BM8ZH21 8,025,337 0.71%
Berkeley Energia Ltd. $2,696,413.04 BKY AU 6589473 10,296,202 0.68%
Forsys Metals Corp. $2,680,055.50 FSY CN 2597801 3,521,696 0.67%
Peninsula Energy Ltd. $2,271,296.75 PEN AU 6486381 32,626,637 0.57%
Western Uranium & Vanadium Corp. $1,607,202.46 WUC CN BF39VJ4 980,537 0.40%
CanAlaska Uranium Ltd. $1,542,993.53 CVV CN BR1YTV3 3,635,612 0.39%
GoviEx Uranium Inc. $1,548,775.13 GXU CN BNGCT03 19,241,419 0.39%
Skyharbour Resources Ltd. $1,476,924.81 SYH CN BDFGHL3 4,805,632 0.37%
Atha Energy Corp. $1,384,964.58 SASK CN BNQNDF9 2,490,385 0.35%
Aura Energy Ltd. $1,374,411.06 AEE AU B14Z2S9 12,194,260 0.34%
Anfield Energy Inc. $1,055,749.86 AEC CN BF11BH0 18,034,847 0.26%
Baselode Energy Corp. $733,766.52 FIND CN BLPJL27 3,183,382 0.18%
Peninsula Energy Ltd RTS $6,668.41 2447702D 8,046,373 0.00%
Cash Equivalent $-176,156.75 $-176,156.75 -0.02%

33 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 - - $0.95 $0.95

 




 

 

 

Important Disclosures & Definitions

An investor should consider the investment objectives, risks, charges, and expenses carefully before investing. To obtain a Sprott Junior Uranium Miners ETF Statutory Prospectus, which contains this and other information, visit https://sprottetfs.com/urnj/prospectus, contact your financial professional or call 888.622.1813. Read the Prospectus carefully before investing.

The Fund is not suitable for all investors. Investors in the Fund should be willing to accept a high degree of volatility in the price of the Fund's shares and the possibility of significant losses. An investment in the Fund involves a substantial degree of risk. The Fund is non-diversified and can invest a more significant portion of assets in securities of individual issuers than a diversified fund. As a result, changes in a single investment's market value could cause more significant share price fluctuations than in a diversified fund.

Shares are not individually redeemable. Investors buy and sell shares of the Sprott Junior Uranium Miners ETF on a secondary market. Only market makers or "authorized participants" may trade directly with the Fund, typically in blocks of 10,000 shares.

Funds that emphasize investments in small/mid-cap companies will generally experience greater price volatility. Diversification does not eliminate the risk of investment losses. ETFs are considered to have continuous liquidity because they allow 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.

The Sprott Junior Uranium Miners ETF seeks to provide investment results that, before fees and expenses, generally correspond to the total return performance of the Nasdaq Sprott Junior Uranium Miners™ Index (NSURNJ™).

Nasdaq®, Nasdaq Junior Uranium Miners™ Index, and NSURNJ™ are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Sprott Asset Management LP. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

Sprott Asset Management USA, Inc. is the Investment Adviser to the Sprott Junior Uranium Miners ETF. Sprott Asset Management LP is the Sponsor of the Fund. ALPS Distributors, Inc. is the Distributor for the Sprott Junior Uranium Miners ETF and is a registered broker-dealer and FINRA Member.

ALPS Distributors, Inc. is not affiliated with Sprott Asset Management LP.

Frequency Distribution of Premiums and Discounts


NAV vs Bid/Ask Midpoint

 

Frequency Distribution: Premium/Discount

Trading Days Each Quarter
CY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Days Traded at Premium 154 39 -- -- --
Days Traded at Discount 67 22 -- -- --

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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