First-Year Review
Kurv's silver fund paid $7.70 in year one and still lagged the metal
Roundhill Investments - Uranium ETF
$27.70−0.26 (−0.94%)
- 0.75%
- $5M
- −1.0%
- 0M sh
- $28.27
- low $25.84high $38.72
The ETF.net UX Grade
D
Score 32 out of 100
- 8 of 9
Score 32 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 32
- This cap took
- −0
- Published Score
- 32
Cost
The fund’s net expense ratio, ranked against its category.F20 out of 100Rank 8 of 9Mission
Whether the fund did what it promised, tested against its stated mandate.F18 out of 100Rank 7 of 7Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 4 of 9Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C51 out of 100Rank 5 of 9Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C50 out of 100Rank 6 of 9
Our read on UX
DMost uranium ETFs buy the miners. UX goes after the rock: it targets changes in the price of physical uranium (U3O8) through swaps linked to uranium trusts, inside a standard 1940 Act ETF wrapper.
The fund seeks exposure to changes in the price of physical uranium, including through swap agreements linked to uranium-related trusts and other reference assets.
Why people hold it
- The commodity, not the companies. Exposure tracks the U3O8 price rather than mine schedules, cost overruns and share issuance at uranium producers.roundhillinvestments.com
- Fills a real gap in the shelf: URA, URNM and NLR are equity baskets of miners and nuclear names, while UX points at the underlying fuel price.roundhillinvestments.com
- Fee sits at 0.75%, right on the uranium and nuclear category's median, for a job most of that category doesn't do.
- Registered under the 1940 Act, so it trades and reports like an ordinary ETF rather than a commodity partnership.roundhillinvestments.com
Worth knowing
- Swaps do the work. Exposure comes through swap agreements linked to uranium-related trusts and reference assets, not owned yellowcake, which adds counterparty and financing considerations.roundhillinvestments.com
- It launched in 2025. Assets and on-screen depth are modest next to the category's long-running funds, so spreads can run wider than the household names.
- A commodity pays no dividends. There's no miner earnings leverage here, and any distributions arrive at most once or twice a year.
UX Holdings
- Stocks
- 6
- 186%
- 912797VA2
Sectors
- Energy100.0%
UX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
UX$9,899
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | UX |
|---|---|
| Year to date | −6.1% |
| 1 month | −3.0% |
| 3 months | −1.8% |
| 1 year | −1.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | UX |
|---|---|---|
| 2026 YTD | −6.1% | |
| 2025 | +15.8% |
UX in the news
Price vs Value
URNJ closed 1.57% below the value of its miners Friday
UX Dividends
- $0.44 per share
- Irregular
Distribution data unavailable.
Distribution history
UX Risk
- 32.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.19
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −26.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.84
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
UX Cost
0.75%
UX0.75%
- The middle half of Physical Commodities funds
- Median 0.60%
7 of the 9 Physical Commodities funds charge less.
Other funds in Physical Commodities
- BPLTMGraniteShares Platinum TrustExpense ratio 0.50%1 year return +4.8%
- BGLTRabrdn Physical Precious Metals Basket Shares ETFExpense ratio 0.60%1 year return +7.0%
- BYSAGTexas Precious Metals Trust Y'all Street Physical Silver ETFExpense ratio 0.39%1 year return —
- BPPLTabrdn Physical Platinum Shares ETFExpense ratio 0.60%1 year return +4.7%
- CPALLabrdn Physical Palladium Shares ETFExpense ratio 0.60%1 year return −20.5%