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URNM

$11.71-2.01%Energy Metals & Nuclear36/100
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BetaShares Global Uranium ETF · BetaShares

Data as at 29 March 2026

TL;DR

Tracks global uranium mining companies and physical uranium investment vehicles. The uranium spot price rose from approximately US$20 per pound in 2016 to over US$100 per pound in early 2024.

MER (Annual Fee)
0.69%
#4 lowest in Energy Metals & Nuclear
1Y Return
+87.0%
3Y Return (p.a.)
+29.8%
Dividend Yield
1.70%
Trailing 12 months
AUM
$345M
Assets under management
Avg Daily Turnover
$1.4M
Avg shares × unit price
Unit Price
$11.71
As at 29 March 2026
Provider
BetaShares
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Strategy

Follows the North Shore Global Uranium Mining Index. Includes producers, developers, and explorers in the uranium industry globally, plus Sprott Physical Uranium Trust, which holds physical uranium.

Top Holdings

Key Fact

The uranium spot price rose from approximately US$20 per pound in 2016 to over US$100 per pound in early 2024, driven by nuclear plant life extensions, new reactor construction, and reduced Russian uranium supply following geopolitical tensions.

Suited for

Investors who believe nuclear energy will play a growing role in decarbonisation and that uranium prices will remain elevated. Nuclear power is receiving renewed political support globally as a low-carbon baseload source.

Risks

Kazakhstan (Kazatomprom) produces roughly 45% of global uranium supply. A geopolitical disruption in Central Asia could significantly affect the fund. Uranium mining is politically and geographically concentrated.

URNM Comparisons

ETFCheck Score36/100
Fees (40%)0
Fund Size (25%)31
Liquidity (20%)68
Yield (15%)100
How scores are calculated →
Other Energy Metals & Nuclear ETFs
ATOM
0.57% MER
27
ACDC
0.69% MER
9
WIRE
0.69% MER
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Frequently Asked Questions - URNM

Why is URNM considered the most volatile sector ETF on the ASX and what drives these extreme swings?+
URNM tracks pure-play uranium miners and physical uranium holders in a sector characterised by an illiquid spot market where a single utility contract can move prices dramatically. Uranium miners have extreme operational leverage - small changes in uranium spot prices translate to outsized earnings swings across holdings like Cameco, Kazatomprom, and Paladin Energy. The ETF's 42.8% one-year return highlights the upside, but drawdowns of 30-50% within a single year are historically common. Only investors comfortable with equity-style risk amplified by commodity leverage should consider URNM.
How does URNM differ from ATOM on the ASX and which uranium ETF should I choose?+
URNM focuses exclusively on uranium miners and physical uranium holders, making it a concentrated bet on uranium commodity prices. ATOM (MER 0.57%) casts a wider net by including nuclear power plant operators like Constellation Energy alongside uranium miners, providing broader nuclear energy chain exposure with somewhat lower volatility. If you want maximum leverage to rising uranium prices, URNM is the purer play. If you want exposure to the nuclear energy renaissance with more diversification and a lower MER, ATOM may be more appropriate.
Does URNM pay any distributions and how should Australian investors think about tax on this ETF?+
URNM currently pays a 0% yield, meaning investors receive no regular income distributions. This is because many uranium miners reinvest all cash flow into development and exploration rather than paying dividends, and physical uranium holdings generate no income. For SMSF trustees, URNM offers no pension-phase income advantage and zero franking credits since holdings are international. All returns come via capital gains, which are taxed at your marginal rate (or discounted by 50% for holdings over 12 months for individual investors, one-third for complying super funds).
What are the key risks if the nuclear energy investment thesis doesn't play out as expected for URNM holders?+
The primary risk is a nuclear policy reversal - if governments slow reactor approvals due to safety incidents or political opposition, uranium demand forecasts could collapse along with URNM's holdings. Oversupply risk also exists if Kazakhstan's Kazatomprom ramps production beyond market expectations, flooding the already illiquid spot market. Additionally, URNM carries concentration risk in a small universe of uranium companies, and currency risk as an unhedged international ETF. A 50%+ drawdown scenario is realistic if sentiment shifts against nuclear power globally.