Top 5 Nuclear ETFs of 2025: Complete Comparison of URA, URNM, URNJ, NLR, and NUKZ
📊 Nuclear ETFs Are on Fire in 2025
Every nuclear ETF has returned between 45% and 88% in 2025 so far. This isn't a coincidence. With explosive growth in AI and data centers driving surging demand for clean energy, the market is finally recognizing nuclear as core infrastructure.
But not all nuclear ETFs are the same. Each one focuses on different areas of the nuclear industry's four-tier stack (mining, fuel, innovation, utilities).
In this article, we'll analyze five major nuclear ETFs and discover which one suits each type of investor.
1️⃣ Global X Uranium ETF (URA) - The Balanced Benchmark
| Metric | Value |
|---|---|
| Ticker | URA |
| YTD Return | +69% |
| Expense Ratio | 0.69% |
| Dividend Yield | 1.69% |
| Analyst Outlook | +10.5% upside in 12 months |
Four-Tier Stack Position
URA is led by Tier 1 (mining) but also has exposure to Tier 2 (fuel) and Tier 4 (utilities).
Key Holdings
Cameco, NexGen, and UEC dominate, but fuel-related companies and utilities are also included for true diversification.
Best For
- First-time nuclear investors
- Those who find splitting capital across multiple tickers cumbersome
- Investors seeking balanced exposure
2️⃣ Sprott Uranium Miners ETF (URNM) - Pure Mining Play
| Metric | Value |
|---|---|
| Ticker | URNM |
| YTD Return | +45% |
| Expense Ratio | 0.75% |
| Dividend Yield | 2.33% |
| AUM | $1.7 billion |
Four-Tier Stack Position
URNM sits almost entirely in Tier 1 (mining). It even includes direct uranium exposure through the Sprott Physical Uranium Trust.
Investment Characteristics
- Rises quickly when uranium prices tighten
- Falls hard when sentiment cools
- No fuel, SMR, or utility exposure
Best For
- Investors who want direct leverage to uranium supply dynamics
- Those seeking pure mining exposure without other tiers
3️⃣ Sprott Junior Uranium Miners ETF (URNJ) - The Torque Play
| Metric | Value |
|---|---|
| Ticker | URNJ |
| YTD Return | +45% |
| Expense Ratio | 0.80% |
| Dividend Yield | 2.97% |
| Analyst Outlook | +25% upside in 12 months |
Four-Tier Stack Position
URNJ focuses entirely on the junior layer of Tier 1—early-stage developers and explorers.
Key Holdings
Denison, F3 Uranium, Fission, Global Atomic—companies with real assets in the ground but years of development ahead.
Investment Characteristics
- Highest volatility
- Moves fastest when uranium sentiment turns
- Best treated like "seasoning," not the main meal
Best For
- Investors who understand Tier 1 risk
- Those seeking high upside potential
- As a small portion of a diversified portfolio
4️⃣ VanEck Uranium and Nuclear ETF (NLR) - Stable Cash Flow
| Metric | Value |
|---|---|
| Ticker | NLR |
| YTD Return | +59% |
| Expense Ratio | 0.56% (lowest!) |
| Dividend Yield | 0.47% |
| Analyst Outlook | +11.59% upside in 12 months |
Four-Tier Stack Position
NLR sits entirely in Tier 4 (utilities)—companies already connected to the grid, running gigawatts of nuclear power.
Key Holdings
Constellation Energy, Duke Energy, Dominion Energy—companies that already appear on your power bill today.
Investment Characteristics
- Doesn't spike or crash
- Keeps compounding steadily
- Rising AI demand converts directly to revenue
Best For
- Investors wanting stable, predictable returns
- Those prioritizing compound growth over dividends
- Cost-conscious investors (lowest expense ratio)
5️⃣ Global X Uranium and Nuclear ETF (NUKZ) - Middle Tier Specialist
| Metric | Value |
|---|---|
| Ticker | NUKZ |
| YTD Return | +60% |
| Expense Ratio | 0.85% |
| Analyst Outlook | +9.5% upside in 12 months |
Four-Tier Stack Position
NUKZ is the only ETF with exposure to both Tier 2 (fuel) and Tier 3 (innovation).
Tier 2 - Fuel Cycle
Centrus, Cameco fuel services—investing in the bottleneck that converts uranium to actual fuel.
Tier 3 - Innovation
NuScale, BWX Technologies, X-Energy—companies developing SMRs and micro reactors that can be deployed next to data centers.
Investment Characteristics
- Invests in the core infrastructure of nuclear expansion
- Covers the middle tiers other ETFs miss
- Higher fees reflecting complexity and specialization
Best For
- Investors who want exposure to nuclear's scaling infrastructure
- Those completing the full four-tier picture
📈 ETF Comparison Summary
| ETF | YTD | Fees | Main Tier | Key Feature |
|---|---|---|---|---|
| URA | +69% | 0.69% | Tier 1 + 2, 4 | Balanced benchmark |
| URNM | +45% | 0.75% | Tier 1 | Pure mining focus |
| URNJ | +45% | 0.80% | Tier 1 (junior) | High torque, high volatility |
| NLR | +59% | 0.56% | Tier 4 | Utility stability |
| NUKZ | +60% | 0.85% | Tier 2 + 3 | Fuel + innovation coverage |
💡 Final Takeaway: Own the Stack Intentionally
The key message isn't about picking one winner. It's about owning the stack intentionally, not emotionally.
If every forecast about AI doubling, tripling, or quadrupling energy demand is right:
- Mining alone won't solve it
- Utilities alone won't solve it
- Innovation without fuel is just a press release
When nuclear scales, it scales across all tiers. That's why investing with a framework matters.
Key Takeaways:
- All 5 ETFs returned 45-88% in 2025
- Each ETF focuses on different parts of the 4-tier stack
- URA: Balanced, URNM/URNJ: Mining, NLR: Utilities, NUKZ: Fuel+Innovation
- Own the entire stack intentionally