Global X has launched a uranium ETF targeting companies involved in the mining and production of nuclear components.
The Global X Uranium UCITS ETF (URNU) is listed on the Deutsche Boerse and the London Stock Exchange with a total expense ratio (TER) of 0.65%.
URNU will track the Solactive Global Uranium & Nuclear Components V2 index which comprises of around 50 companies from the energy, industrial and basic materials sectors.
Geographically, the companies mainly come from Canada, Australia and South Korea.
The ETF will be labelled Article 6 under the Sustainable Finance Disclosure Regulation (SFDR).
Nuclear power, which emits zero direct emissions during operations, has been viewed by some as an important tool in the global energy transition.
However, its use has divided opinion across Europe and its inclusion in the European Union’s taxonomy has driven some member states to take legal action.
Global X has expanded its European ETF range massively over the past few months.
In March, it launched four China thematic ETFs, the Global X China Clean Energy UCITS ETF (CCLN), the Global X China Electric Vehicle and Battery UCITS ETF (CAUT), the Global X China Cloud Computing UCITS ETF (CCLD) and the Global X China Biotech UCITS ETF (CBIO).
In February, Global X launched four thematic ETFs including exposure to hydrogen, wind energy, food innovation and solar.