Sprott Junior Uranium Miners ETF (URNJ)

The Sprott Junior Uranium Miners ETF (URNJ) invests in companies focused on the exploration and development of uranium. Based on recent data, this ETF is characterized by a significant decline in share price and a severe erosion-risk flag.

What this ETF is trying to do

URNJ seeks to provide exposure to "junior" uranium miners. These are typically smaller companies that find and develop uranium deposits. As of October 12, 2026, the fund holds 44 different companies. Its Top Holdings include:

• Denison Mines Corp (12.36%)

• Nexgen Energy Ltd (12.14%)

• Paladin Energy Ltd (12.08%)

• Energy Fuels Inc (10.89%)

• Deep Yellow Ltd (4.96%)

What the numbers show

The share price of URNJ has seen a sharp decline. The current price is $19.15, while the estimated price from roughly one year ago was $30.45.

Looking at the returns:

• Year-to-Date (YTD): The price return is -24.01%.

• One-Year: The price return is -37.11%, and the total return (which includes distributions) is -32.72%.

• Three-Year: The price return is -14.28%, and the total return is -1.10%.

Income and distribution explanation

URNJ has a distribution yield of approximately 8.66%. Over the last 12 months, it has made only one payout, totaling $1.66 per share. The distribution frequency is described as irregular or less frequent.

It is important for new investors to remember that a high distribution yield alone can be misleading. In this case, the total return for the year (-32.72%) is lower than the price return (-37.11%), but both are significantly negative. This shows that the cash distributions did not prevent a large loss in overall value.

Price and NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the ETF has a severe erosion-risk flag. This was triggered because the split-adjusted price trend and an erosion score of 30 indicate "significant price erosion." This means the market price of the shares has dropped substantially over time.

Pros

• Provides a way to invest in many junior uranium mining companies through one fund.

• Has provided a distribution yield of 8.66% recently.

Cons

• Significant share-price decline over the last year and three years.

• Irregular payout schedule.

• High erosion-risk score and a severe erosion-risk flag.

Beginner takeaway

URNJ allows investors to bet on smaller uranium companies. While it offers a high distribution yield, the share price has fallen sharply. Investors should be aware that high income payments do not guarantee that the original investment (the principal) will be preserved.