Investing in Uranium ETFs: 9 Options for Uranium Exposure
Exchange-traded funds (ETFs) are one of the fastest-growing investment vehicles, and as uranium’s role in the energy transition grows, investors are becoming increasingly interested in uranium ETFs and related products.
After years of dormancy, the uranium spot price zoomed past the US$100 per pound level in early 2024 on supply risks and a strong outlook for long-term demand. Although it’s since pulled back, bulls believe it still has room to run.
Supporting factors include the lack of new uranium mines, Russia’s dominance in conversion and enrichment, rising demand for low-carbon energy sources and the continued development and deployment of small modular reactors.
There is also increasing demand for uranium from China and India as both of these countries grapple with air pollution in the face of growing electricity demand. China is working to expand its nuclear power capacity, and although it ranks among the top 10 uranium-producing countries, it relies heavily on uranium imports.
Compounded, these factors are creating a mounting supply deficit.
“This year, uranium mines will only supply 75 percent of demand, so 25 percent of demand is uncovered,” Amir Adnani, CEO and president of Uranium Energy (NYSEAMERICAN:UEC), said at a January 2025 event.
Although the fundamentals are promising, the U3O8 spot price has faced pressure in 2025, with prices below US$80 since the start of the year. As supply tightens, incentivizing new projects to come online is becoming imperative.
“Next year, uranium demand is going up because there are 65 reactors under construction, and we haven’t even started talking about small and advanced modular reactors,” Adnani said. “Small and advanced modular reactors are an additional source of demand that, maybe not next year, but within the next three to four years, can become a reality.”
As mentioned, that backdrop is helping uranium ETFs and related investment products gain steam. Today there are five uranium ETFs available, as well as four investment vehicles backed by physical uranium — and perhaps more to come.
Read on to learn about the uranium ETFs and related vehicles on offer. All data was current as of May 5, 2025.
Uranium ETFs tracking uranium stocks
1. Global X Uranium ETF (ARCA:URA)
Total asset value: US$2.7 billion
The Global X Uranium ETF tracks a basket of uranium miners, as well as nuclear component producers.
The fund has an expense ratio of 0.69 percent and a yearly return of negative 17.23 percent, a decline that coincides with the recent pullback in the uranium price.
Uranium companies account for a significant portion of its portfolio, and nearly half of those companies are Canadian. The ETF’s top two uranium company holdings are major uranium producer Cameco (TSX:CCO,NYSE:CCJ) at a weight of 22.31 percent and NexGen Energy (TSX:NXE) at 5.64 percent. Interestingly, one of its top three holdings is…
