ETF Evaluator:
Sprott Critical Materials ETF (SETM)
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(as of Aug 14)
Best Performing in Natural Resources Over the Last Year
| 88.7% | Global X Copper Miners ETF (COPX) |
| 83.8% | Themes Copper Miners ETF (COPA) |
| 82.3% | Sprott Copper Miners ETF (COPP) |
| 81.2% | Sprott Junior Copper Miners ETF (COPJ) |
| 76.4% | iShares Copper and Metals Mining ETF (ICOP) |
Risk
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Risk
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ETF Details
Sprott Critical Materials ETF Overview
Sprott Critical Materials ETF (SETM) is a passively managed Sector Equity Natural Resources exchange-traded fund (ETF). Sprott launched the ETF in 2023.
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Nasdaq Sprott Critical Materials Index.
The fund invests at least 80% of its total assets in securities of the index. The index is designed to track the performance of companies that derive at least 50% of their revenue and/or assets from (i) mining, exploration, development, production, recycling, refining, or smelting of energy transition materials; (ii) investments in energy transition materials that represent all or a significant portion of their assets. The fund is non-diversified.
About Sprott Critical Materials ETF (SETM)
There are 2 members of the management team with an average tenure of 2.92 years: Ryan Mischker (2023) and Charles Perkins (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Nasdaq Sprott Critical Materials TR USD index with a weighting of 100%. Sprott Critical Materials ETF has 169 securities in its portfolio. The top 10 holdings constitute 40.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
Sprott Critical Materials ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Sprott Critical Materials ETF has 77.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 22.7% There is 77.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Sprott Critical Materials ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $510 million in total assets, which is below the $1 billion average for the Natural Resources category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SETM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Sprott Critical Materials ETF expense ratio is above average compared to funds in the Natural Resources category. Sprott Critical Materials ETF has an expense ratio of 0.65%, which is 23% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Sprott Critical Materials ETF has a portfolio turnover rate of 55%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 41% for the Natural Resources category.
Recently, in the month of July 2026, Sprott Critical Materials ETF returned -8.1%, which earned it a grade of F, as the Natural Resources category had an average return of -2.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Sprott Critical Materials ETF has a trailing yield of 1.58%, which is below the 2.30% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Sprott Critical Materials ETF Grades
Year to date, the ETF has returned -0.8%, 7.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 57.2% over the past year (grade of A) and 18.0% over the past three years (grade of A).
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SETM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SETM Return (NAV) | -8.1% | -22.0% | 57.2% | 18.0% | na | na |
| SETM Return (Price) | -8.6% | -23.3% | 57.1% | 17.5% | na | na |
| NAV +/- Price Return | 0.500% | 1.389% | 0.138% | 0.538% | na | na |
| Natural Resources Avg | -2.2% | -9.2% | 33.5% | 9.8% | 7.4% | 10.4% |
| SETM Grade (NAV) | F | F | A | A | na | na |
| +/- Category (NAV) | -5.9% | -12.7% | 23.7% | 8.2% | na | na |
| SETM Tax-Cost Ratio | na | na | 0.7% | 0.8% | na | na |
SETM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SETM Return (NAV) | -0.8% | 94.7% | -13.3% | na | na | na | na | na | na | na | na |
| SETM Return (Price) | -1.7% | 95.3% | -13.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.991% | 0.006% | -0.002% | na | na | na | na | na | na | na | na |
| Natural Resources Avg | 6.5% | 43.5% | -6.0% | 9.9% | -7.3% | 30.1% | 22.9% | 18.4% | -16.7% | 25.1% | 28.4% |
| SETM Grade (NAV) | D | A | D | na | na | na | na | na | na | na | na |
| +/- Category | -7.3% | 51.2% | -7.3% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.36 |
| R-Squared: | 28% |
| Standard Deviation: | 32.5% |
| Category Risk Index: | 1.34 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.65 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.6% |
| Total Assets: | $ 510 Mil |
| Share Class Assets: | $ 510 Mil |
| Turnover: | 55.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.5 years | |||
| Average Tenure: 2.9 years | |||
| Managers (Year): Mischker Ryan (2023), Perkins Charles (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 169 |
| % in Top 10 Holdings: | 40.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 77.1% |
Portfolio Allocation |
|
| Domestic Stock: | 22.7% |
| Foreign Stock: | 77.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Sprott |
| Phone Number: | 888-622-1813 |
| Website: | www.sprottetfs.com |
| Inception Date: | February 1, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.53% |
