Canada-based Horizons ETFs has teamed-up with German index provider Solactive to launch Canada’s first uranium ETF.
The Horizons Global Uranium Index ETF (HURA), which tracks the Solactive Global Uranium Pure-Play Index, is listed on the Toronto Stock Exchange and has a management fee of 0.75%.
HURA is comprised of companies which are exposed to the uranium industry such as mining, exploration, physical investments and technologies associated with the radioactive commodity.
Horizons says wind and solar power alone will not be able to ensure global carbon emissions are met and therefore needs the assistance of nuclear power.
Nick Piquard, portfolio manager and options strategist at Horizons ETFs, said: “Nuclear is the only viable solution to supply zero emission-base-load-power, and currently, there is not enough uranium being mined to meet planned growth. These factors combined make for a very positive opportunity for the uranium mining sector.”