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
2.4 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) | $2 |
| 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. | 19.8 % |
| MERDEKA BATTERY MATERIALS TBK PT | 11.5 % |
| INDEPENDENCE GROUP NL | 7.6 % |
| POWER METALLIC MINES, INC. | 7.3 % |
| MAGNA MINING, INC. | 5.4 % |
| ANEKA TAMBANG TBK PT | 5.4 % |
| ERAMET | 4.8 % |
| NICKEL ASIA CORP | 4.7 % |
| TRIMEGAH BANGUN PERSADA TBK PT | 4.7 % |
| CANADA NICKEL CO., INC. | 4.3 % |
Constituent Breakdown
| Number of holdings | 9 |
| Herfindahl-Hirschman Index | 848 |
| Wgt avg mkt cap (mns) | $651 |
| Large cap (>$10bn) | 0.0% |
| Mid cap ($2-10bn) | 25.5% |
| Small cap (<$2bn) | 74.5% |
| Developed mkts. | 66.5% |
| Emerging mkts. | 33.5% |
Country Exposure
 |
AUSTRALIA | 27.4 % |
 |
INDONESIA | 8.9 % |
 |
FRANCE | 4.8 % |
 |
PHILIPPINES | 4.7 % |
 |
CHINA | 3.7 % |
 |
UNITED STATES | 3.7 % |
 |
CANADA | 1.6 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -10.8% | -22.8% | -- | -- | -- | -- | -26.5% | Volatility | 28.1% | 28.1% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.32 | 2% |
| MSCI EAFE | 0.59 | 10% |
| MSCI Emg Mkts | 0.79 | 14% |
Liquidity Measures
| Avg. volume (000) | 26 |
| Turnover | 9.7% |
| Avg. Bid/Ask (% of price) | 0.76% |
| ADV of underlying (mns) | $17 |
Technical Indicators
| Recent close | $8.88 |
| 30d moving avg. | $9.62 |
| Annualized volatility | 27.0% |
| Relative strength (RSI) | 39 |
| Short interest (ETF) | 22.6% |
| Short interest (underlying) | 0.0% |
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. NIKL |
Expenses vs. NIKL |
ALTAR Score™ vs. NIKL |
|---|---|---|---|---|
| ION | ProShares S&P Global Core Battery Metals ETF | 12.3% | -17 bp | -4.5% |
| LIMI | Themes Lithium & Battery Metal Miners ETF | 10.7% | -40 bp | -15.7% |
Risk and Returns: NIKL 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 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/2/2025
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
NIKL
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
15.7%
Cat. Avg
4.5%
ALTAR Score™ Calculation
Category Overview
There are 363 funds in the Global Equity category, with an average ALTAR Score™
of 4.5% and a standard deviation of
4.0%. NIKL's ALTAR Score™ is approximately
2.8 standard deviations
above
the category average. This places NIKL in the 99th 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 |
| NIKL (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 | 75.7 | 150.7 |
| Peer Avg. | 56.2 | 39.5 | 95.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .