NIKL
Sprott Nickel Miners ETF
NIKL tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
11.8 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Sprott |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2023 |
| Assets (mns) | $12 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NICKEL MINES LTD. | 16.5 % |
| MERDEKA BATTERY MATERIALS TBK PT | 14.6 % |
| INTERNATIONAL NICKEL INDONES | 6.7 % |
| INDEPENDENCE GROUP NL | 5.9 % |
| TALON METALS CORP. | 5.5 % |
| MAGNA MINING, INC. | 4.9 % |
| POWER METALLIC MINES, INC. | 4.7 % |
| LIFEZONE HOLDINGS LTD | 4.6 % |
| NICKEL ASIA CORP | 3.7 % |
| ANEKA TAMBANG TBK PT | 3.6 % |
Constituent Breakdown
| Number of holdings | 8 |
| Herfindahl-Hirschman Index | 770 |
| Wgt avg mkt cap (mns) | $806 |
| Large cap (>$10bn) | 10.4% |
| Mid cap ($2-10bn) | 33.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 29.1% |
| Emerging mkts. | 17.4% |
Country Exposure
 |
AUSTRALIA | 24.7 % |
 |
INDONESIA | 10.3 % |
 |
UNITED STATES | 4.6 % |
 |
PHILIPPINES | 3.7 % |
 |
CHINA | 3.4 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 8.5% | -6.9% | -26.8% | -- | -- | -- | -- | -22.1% |
| Dividend Yield | 0.0% | 0.0% | 7.2% | -- | -- | -- | -- | 6.4% |
| Total Returns | 8.5% | -6.9% | -19.6% | -- | -- | -- | -- | -15.6% | Ann. Volatility | 35.2% | 32.0% | 29.3% | -- | -- | -- | -- | 28.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 7% |
| MSCI EAFE | 0.29 | 2% |
| MSCI Emg Mkts | 0.34 | 2% |
Liquidity Measures
| Avg. volume (000) | 23 |
| ADV traded (mns) | $0 |
| Turnover | 2.4% |
| Avg. Bid/Ask (% of price) | 0.76% |
Technical Indicators
| Recent close | $12.39 |
| 30d moving avg. | $11.92 |
| Annualized volatility | 29.1% |
| Relative strength (RSI) | 53 |
| Short interest | 0.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 8/8/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
NIKL
10.5%
Cat. Avg
4.4%
ALTAR Score™ Calculation
Category Overview
There are 373 funds in the Global Equity category, with an average ALTAR Score™
of 4.4% and a standard deviation of
3.4%. NIKL's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places NIKL in the 97th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NIKLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| (75 bp) Percentile rank | 87 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NIKL | 75.0 | 0.0 | 75 |
| Peer Avg. | 56.1 | 41.2 | 97.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .