Sprott Uranium Miners ETF

URNM

Market cap $2.43B

Despite falling below $5,000 recently, it could be an opportune time to strike and purchase the dip in gold prices. Fundamental demand drivers could continue to push the precious metal higher through the rest of the year.

A new year brings renewed upside for uranium, especially given the strategic tailwinds behind the metal, according to a Sprott Uranium Report from Sprott Asset Management's Director of ETF Product Management Jacob White. As White noted, the uranium market entered 2026 with strong momentum.

From shipping and robotics to uranium and Japan, niche ETFs outperformed in Jan 2026 amid geopolitics, AI demand and weather shocks.

Someone asked me the other day, “What are the hot themes for the new year?”  To start the year, we have seen some pretty impressive outsized performance from several key investment themes.

With favorable regulations encouraging a boom in domestic nuclear power, several prominent uranium miners have experienced skyrocketing shares in the last year. Canadian outfit Cameco Corp. NYSE: CCJ, among the largest producers of uranium in the world, has risen by 161% in the last year, for instance.

Commodities of all kinds have been performing especially well as of late. Uranium is especially well-positioned to navigate 2026's markets.

Sprott Uranium Miners ETF surged in 2025, outperforming energy peers amid a looming uranium supply crunch and AI-driven demand catalysts. URNM is highly concentrated, with 79% in its top 10 holdings, and faces elevated expense ratios and average dividend yield, but strong technical momentum. Short-term uranium supply is constrained by Kazatomprom's 10% production cut and U.S. sanctions, while AI hyperscalers drive long-term nuclear demand.

Gold and silver were not the only metals to see breakout performances in the later half of 2025.  Much like these other metals, copper also closed out last year in a highly favorable position.

The nuclear energy sector is surging, fueled by a $2.7 billion funding injection from the U.S. Department of Energy, announced on Monday.

November may have been a difficult month for the uranium market, but better days could be on the horizon. Recently, Jacob White, CFA, ETF product manager at Sprott Asset Management, released a report breaking down where things stand for the uranium market.