Is URNM a good ETF?
URNM is the BetaShares Global Uranium ETF from BetaShares. It tracks the Solactive Global Uranium Pure-Play Index. We classify it under Intl, Thematic, and Commodities. With about $319 million in assets it is a solidly established fund. Listed on the ASX since 2022-08-17 (about 4 years ago).
On a total-return basis, URNM has delivered 3.75% a year over 3 years (ranked 203rd of 236 ETFs we track) and -15.94% a year over 1 year (ranked 301st of 318 ETFs we track). It has trailed most comparable ETFs over the periods we measure, so look closely at whether its strategy fits what you're after.
The management fee of 0.69% is on the higher side. For comparison, similar ETFs average around 0.46%. If cost is your priority, QRE (0.34%), FUEL (0.57%), and URAN (0.59%) cover similar ground for less. It pays a moderate 2.67% yield.
Over the past 3 years its volatility has been high (annualised standard deviation around 38.8%), meaning a bumpy ride with deep drawdowns. Its 3-year Sharpe ratio of 0.17 is weak — that's the return it has earned per unit of risk taken (higher is better).
Portfolio turnover is moderate at about 30% a year — a fair chunk of the portfolio is bought and sold each year, so expect a little more in the way of realised capital gains and trading costs than a plain index fund.
Things to watch
- Has lagged most peers over 1 year (301st of 318).
- Pricier than similar ETFs, which average around 0.46%.
- Cheaper alternatives exist: QRE, FUEL, and URAN.
- Weak risk-adjusted returns (3-year Sharpe ratio 0.17).
- High volatility (38.8% over 3 years) — expect deep drawdowns.
- Highly concentrated single-theme bet — keep the position size small.
What URNM's categories mean for you
How each category this ETF belongs to tends to behave across market cycles.
Global and international shares from outside Australia — broadening you into thousands of companies and the sectors (tech, healthcare) the local market lacks.
- Market regime
- Essential diversification away from the bank-and-resources-heavy ASX. Unhedged versions carry currency risk; hedged versions remove it at a small cost.
- In a portfolio
- A core holding for almost every long-term Australian portfolio.
A concentrated bet on a single trend — AI, battery tech, cybersecurity, robotics and the like. High conviction, high concentration, and often high fees.
- Market regime
- Frequently launched after a theme is already hot, which has historically been a poor entry point. Expect very large swings in both directions.
- In a portfolio
- A small satellite position at most. Treat it as a speculative tilt, never as a core holding.
Exposure to physical commodities (gold, silver, oil) or the companies that produce them. A portfolio diversifier and a classic inflation hedge.
- Market regime
- Gold in particular tends to shine during crises, high inflation and falling real interest rates. Commodities generate no yield or earnings and can trend sideways for years.
- In a portfolio
- A tactical or satellite allocation for diversification and inflation protection — not a long-term compounding engine.
General information only, generated from the fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.