3 Uranium ETFs That Pack a Nuclear Punch

Uranium prices have been on the rise and could be buoyed further by several longer-term trends. These uranium ETFs can help you harness this power.

Digital rendition of Uranium symbol on periodic table
(Image credit: Getty Images)

Nuclear energy is soaring in popularity and putting uranium ETFs back on the map – and I think we can all guess why.

If you guessed the 2023 release of Oppenheimer … no. Run a few laps and do some self-reflection.

No, it's a confluence of several real-world developments: Growing electricity demand. A search for greener power sources to replace the likes of oil and coal. And, over the past couple of years, a clear reminder for several countries that they'd be best served becoming energy-independent from Russia.

For instance, in March of last year, France's parliament voted in favor of President Emmanuel Macron's nuclear investment plan – part of a $56 billion initiative that would see six new reactors built. A month later, Finland finally saw its long-delayed Olkiluoto 3 reactor start regular production.

Even Japan, which swore off nuclear power after the 2011 Fukushima disaster, approved a policy in 2023 that will extend the operations of existing reactors and allow new reactors to be built.

These are among numerous long-term drivers – but they're not the whole story behind the rapid rise in uranium prices, which have more than tripled over the past three years ago and are up more than 16% for the year-to-date in 2024. Much of uranium's buoyancy can be chalked up to rising demand, yes, but also constrained supply. Years of low prices forced many smaller uranium miners to shut down or throttle down production, and larger miners have spent precious little in capital expenditures to improve their operations.

Nonetheless, the horizon continues to brighten for nuclear energy, and in turn, the small collection of publicly traded uranium stocks … the uranium ETFs that hold them.

Here, we explore three uranium ETFs. It's a small field – these are three of the most pure-play funds in the space, and they still collectively represent just over $5 billion in assets. But the best ETFs in the uranium space can provide a few different types of exposure to this rocketing commodity.

Data is as of February 7. Yields represent the trailing 12-month yield, which is a standard measure for equity funds.

Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.