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SMRF uranium and nuclear names extend August gains on AI power demand
In August, the SMRF underlying index rose 9.02%, with uranium-producing energy stocks accounting for over 70% of the fund’s total advance.
The ALPS Nautilus SMR, Nuclear & Technology ETF (SMRF) posted gains in August as uranium and nuclear-linked equities helped lift the fund’s underlying index, according to data cited by ETF Trends via VettaFi. SMRF’s benchmark index climbed 9.02% in August. Energy stocks, largely uranium producers, drove the move, with the sector’s 40.46% weighting returning 17.7% for the month and contributing 6.64 percentage points to the index’s gain, more than 70% of SMRF’s total advance. Uranium Energy Corp. (UEC) was SMRF’s largest single contributor during the month, adding 1.23 percentage points to the index’s return as shares rose 27.5%. Kazatomprom (KAP) added 0.75 percentage points, with shares up 17.7% for the month, following an August 21 update that reported first-half revenue of 717.8 billion tenge, or about $1.58 billion, up 9% year over year, and CEO Meirzhan Yussupov saying the era of cheap uranium is fading. ETF Trends also highlighted additional contributors including Energy Fuels Inc. (UUUU), which added 0.92 percentage points as shares gained 28.9%, and small modular reactor developer gains tied to X-energy Inc. (XE) and NuScale Power Corp. (SMR). X-energy rose 13.1% for the month, and NuScale climbed 10.1%, alongside mention of a low-enriched and high-assay uranium supply agreement for X-energy’s Xe-100 reactors.