Sprott Nickel Miners ETF
ALTAR
Score™		 9.4% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 28.6x P/Sales
ratio		 1.8x
P/BV
ratio		 1.2x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
NIKL tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap.

FUND BASICS
Category Global Equities
Fund Sponsor Sprott
Website www.sprottetfs.com/nikl-sprott-nickel-miners-etf/
Inception date Mar 21, 2023
Assets (mns) $20
Currency USD
Expense ratio 75 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 8
Wgt avg mkt cap (mns) $858
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 25.5%
Small cap (<$2bn) 74.5%
Developed mkts 66.5%
Emerging mkts 33.5%

TOP TEN HOLDINGS
MERDEKA BATTERY MATERIALS TBK PT 14.0 %
NICKEL MINES LTD. 13.6 %
INDEPENDENCE GROUP NL 7.4 %
INTERNATIONAL NICKEL INDONES 6.5 %
TALON METALS CORP. 6.4 %
MAGNA MINING, INC. 6.2 %
XINJIANG XINXIN MINING IND-H 5.5 %
NICKEL ASIA CORP 5.5 %
CANADA NICKEL CO., INC. 4.6 %
LIFEZONE HOLDINGS LTD 3.7 %
Total 73.3 %

TOP COUNTRY EXPOSURE
AUSTRALIA 23.1 %
INDONESIA 9.7 %
CHINA 5.5 %
PHILIPPINES 5.5 %
UNITED STATES 3.7 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
34.4% 14.8% -- -- -6.9%

Market Correlations
versus... Beta R-squared
S&P500 0.74 9%
MSCI EAFE 0.06 0%
MSCI Emg. Mkts. -0.11 0%

Technical Indicators
Recent close $14.03
30d moving avg. $14.42
Annualized volatility 31.1%
Short interest (ETF) 0.8%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 116
Turnover 8.2%
Bid/Ask (% of price) 0.52%
ADV underlying (mns) $17

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 92 potential alternatives to the Sprott Nickel Miners ETF ETF based on the alternatives' overlap in portfolio holdings with NIKL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NIKL Expense: 75 bp ALTAR Score™: 9.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NIKL
Ticker Fund
Name		 Overlap1
vs NIKL
(%)		 Expense
ratio
(bp)		 Savings
vs NIKL
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs NIKL
(%)
ION ProShares S&P Global Core Battery Metals ETF 8.7 58 17 7.2 -2.2
LIMI Themes Lithium & Battery Metal Miners ETF 8.5 35 40 3.8 -5.6
SETM Sprott Energy Transition Materials ETF 3.9 65 10 1.9 -7.5
LITP Sprott Lithium Miners ETF 3.6 65 10 1.7 -7.7
WBAT WisdomTree Battery Value Chain and Innovation Fund 2.7 45 30 1.4 -8.0
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.6 72 3 -1.3 -10.6
CGV Conductor Global Equity Value ETF 2.2 130 -55 7.8 -1.5
IDX VanEck Indonesia Index ETF 2.1 57 18 7.0 -2.3
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 1.8 85 -10 6.1 -3.2
DMAT Global X Disruptive Materials ETF 1.5 59 16 6.9 -2.5
DRIV Global X Autonomous & Electric Vehicles ETF 1.3 68 7 4.7 -4.6
LIT Global X Lithium & Battery Tech ETF 1.2 75 0 4.5 -4.9
GOEX Global X Gold Explorers ETF 1.0 65 10 2.7 -6.7
COPA Themes Copper Miners ETF 0.9 35 40 4.4 -5.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.8 80 -5 13.9 +4.6
RING iShares MSCI Global Gold Miners ETF 0.6 39 36 3.7 -5.7
CARZ First Trust NASDAQ Global Auto Index Fund 0.6 70 5 4.2 -5.1
EIDO iShares MSCI Indonesia ETF 0.5 59 16 7.6 -1.8
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.5 90 -15 4.9 -4.5
VIDI Vident International Equity Strategy ETF 0.4 61 14 10.4 +1.0
GMET VanEck Green Metals ETF 0.4 63 12 7.5 -1.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 36 10.8 +1.4
FTRI First Trust Indxx Global Natural Resources Income ETF 0.3 70 5 7.7 -1.7
XT iShares Exponential Technologies ETF 0.3 46 29 4.6 -4.7
DISV Dimensional International Small Cap Value ETF 0.2 42 33 8.7 -0.6
DLS WisdomTree International SmallCap Dividend Fund 0.2 58 17 8.0 -1.4
CCNR ALPS CoreCommodity Natural Resources ETF 0.2 39 36 9.1 -0.3
AVDS Avantis International Small Cap Equity ETF 0.2 30 45 6.9 -2.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.2 49 26 6.8 -2.5
FLAU Franklin FTSE Australia ETF 0.1 9 66 6.3 -3.1
DFIS Dimensional International Small Cap ETF 0.1 39 36 7.0 -2.4
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 35 6.8 -2.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.1 70 5 7.5 -1.9
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 52 8.0 -1.3
EEMO Invesco S&P Emerging Markets Momentum ETF 0.1 29 46 7.5 -1.8
DFEV Dimensional Emerging Markets Value ETF 0.1 43 32 11.9 +2.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 67 7.2 -2.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.1 33 42 8.0 -1.3
AVEM Avantis Emerging Markets Equity ETF 0.1 33 42 8.2 -1.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 37 8.6 -0.8
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 34 6.4 -3.0
DTH WisdomTree International High Dividend Fund 0.1 58 17 7.9 -1.5
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 36 5.7 -3.7
SCHC Schwab International Small-Cap Equity ETF 0.1 11 64 7.5 -1.9
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 0 8.3 -1.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.0 53 22 7.2 -2.2
DXIV Dimensional International Vector Equity ETF 0.0 34 41 7.4 -1.9
IPAC iShares Core MSCI Pacific ETF 0.0 9 66 6.1 -3.3
VPL Vanguard FTSE Pacific ETF 0.0 7 68 6.3 -3.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.0 44 31 10.4 +1.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 45 7.5 -1.9
XCNY SPDR S&P Emerging Markets ex-China ETF 0.0 15 60 7.2 -2.2
DFAE Dimensional Emerging Core Equity Market ETF 0.0 35 40 8.6 -0.8
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 51 6.1 -3.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 60 7.4 -1.9
DFIC Dimensional International Core Equity 2 ETF 0.0 23 52 7.1 -2.3
GWX SPDR S&P International Small Cap ETF 0.0 40 35 6.7 -2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 16 8.6 -0.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 60 9.6 +0.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 36 6.3 -3.1
DWM WisdomTree International Equity Fund 0.0 48 27 7.0 -2.3
IXUS iShares Core MSCI Total International Stock ETF 0.0 7 68 7.5 -1.9
VWO Vanguard FTSE Emerging Markets ETF 0.0 7 68 10.1 +0.7
VSGX Vanguard ESG International Stock ETF 0.0 10 65 7.5 -1.9
VXUS Vanguard Total International Stock ETF 0.0 5 70 7.6 -1.8
INTF iShares International Equity Factor ETF 0.0 15 60 7.3 -2.1
DFAI Dimensional International Core Equity Market ETF 0.0 18 57 6.8 -2.6
IEFA iShares Core MSCI EAFE ETF 0.0 7 68 6.7 -2.7
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 72 6.6 -2.7
VEA Vanguard FTSE Developed Markets ETF 0.0 3 72 6.8 -2.6
IEMG iShares Core MSCI Emerging Markets ETF 0.0 9 66 9.7 +0.3
IDEV iShares Core MSCI International Developed Markets ETF 0.0 4 71 6.7 -2.7
EWX SPDR S&P Emerging Markets Small Cap ETF 0.0 65 10 7.9 -1.5
SCHF Schwab International Equity ETF 0.0 6 69 6.8 -2.6
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 26 9.4 -0.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 39 9.0 -0.4
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 56 8.4 -1.0
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 64 9.2 -0.1
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 33 5.3 -4.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 36 7.5 -1.8
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 35 7.0 -2.3
AVDE Avantis International Equity ETF 0.0 23 52 7.0 -2.4
EMGF iShares Emerging Markets Equity Factor ETF 0.0 25 50 10.7 +1.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 4 71 7.7 -1.7
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 68 10.3 +1.0
VT Vanguard Total World Stock ETF 0.0 6 69 5.7 -3.7
SCHE Schwab Emerging Markets Equity ETF 0.0 11 64 10.5 +1.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 34 8.2 -1.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 66 5.6 -3.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 57 7.2 -2.1
AVES Avantis Emerging Markets Value ETF 0.0 36 39 10.7 +1.3
RSSL Global X Russell 2000 ETF 0.0 8 67 4.1 -5.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Sprott Nickel Miners ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 11.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 9.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.75 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.