Nuclear & Uranium ETFs List

A naturally occurring radioactive element used as fuel in nuclear reactors. Uranium is mined from deposits worldwide, processed into uranium oxide concentrate (yellowcake), then enriched and fabricated into fuel assemblies. The spot price of uranium and long-term contract prices are key drivers of uranium mining company valuations.

Uranium oxide concentrate, the primary commercial form of uranium produced by mining operations. Yellowcake is sold on spot and term contract markets before being converted, enriched, and fabricated into nuclear fuel. Spot uranium prices are quoted in U.S. dollars per pound of U3O8.

The process of splitting heavy atomic nuclei (typically uranium-235 or plutonium-239) to release enormous amounts of energy as heat, which is used to generate steam and drive turbines for electricity production. Nuclear fission produces no direct carbon emissions during operation.

An advanced nuclear reactor with electrical output typically under 300 MW, designed for factory fabrication and modular deployment. SMRs offer potential advantages in cost, construction time, safety, and siting flexibility compared to conventional large-scale reactors. Key developers include NuScale Power, Oklo, and X-energy.

The complete series of steps involved in supplying fuel for nuclear reactors, from uranium mining and milling through conversion, enrichment, fuel fabrication, reactor use, and spent fuel management. ETFs in this space may cover companies at various stages of the fuel cycle.

The process of increasing the concentration of uranium-235 (the fissile isotope) from its natural level of 0.7% to 3-5% for use in light water reactors, or to 5-20% (HALEU) for advanced reactor designs. Major enrichment companies include Urenco, Orano, and Rosatom.

The ratio of actual electricity output to maximum possible output over a given period. Nuclear power plants operate at industry-leading capacity factors of 90-93%, meaning they produce power more consistently than any other generation source. This reliability underpins the investment case for nuclear energy.

Whether an ETF provides exposure through equities (stocks of companies), futures contracts, or other instruments. All 6 nuclear and uranium ETFs in this list are equity-based, holding shares in uranium mining, nuclear technology, and nuclear utility companies.

The total market value of all investments managed by an ETF. Higher AUM generally indicates greater liquidity, tighter bid-ask spreads, and lower trading costs for investors.

Nuclear and uranium ETFs invest in companies involved in uranium mining, nuclear fuel production, nuclear reactor construction, nuclear power generation, and advanced reactor technology development. These funds provide exposure to the nuclear energy value chain, from upstream fuel supply to downstream electricity generation.

As of April 2026, there are 6 US-listed ETFs focused on nuclear energy and uranium. These range from pure-play uranium mining funds (URA, URNM, URNJ) to broader nuclear value chain ETFs (NUKZ, NLR, URAN) that include nuclear utilities and reactor technology companies.

The Global X Uranium ETF (URA) is the largest uranium-focused ETF with approximately $7.3 billion in assets under management, making it one of the largest thematic ETFs in the energy transition space. URA tracks the Solactive Global Uranium & Nuclear Components Total Return Index.

Uranium mining ETFs like URA, URNM, and URNJ focus primarily on companies that mine, extract, and refine uranium. Broader nuclear energy ETFs like NUKZ and NLR also include nuclear utilities that operate reactors, nuclear technology companies, and firms developing next-generation small modular reactors (SMRs). NUKZ in particular includes defense and advanced technology firms involved in nuclear innovation.

Global uranium demand is driven by three converging trends: existing reactor fleet restarts and life extensions, new reactor construction programs (particularly in China, India, and Eastern Europe), and growing interest in small modular reactors (SMRs) for data center power and industrial heat. Global uranium demand is expected to roughly double by 2040, while primary mine supply has been in persistent deficit.

Small modular reactors are advanced nuclear reactors with power output typically under 300 MW, designed for modular factory fabrication and scalable deployment. Companies like NuScale Power, Oklo, and GE Hitachi are developing SMR designs for applications including grid power, data center electricity, industrial process heat, and remote community power. Several uranium and nuclear ETFs hold SMR developers.