As of April 4, 2026, the Sprott Critical Materials ETF (NASDAQ: SETM) closed at approximately $33.33–$33.61 per share, with total net assets of $524.62 million and 15,740,000 shares outstanding. Brookstone Capital Management, a Chicago-based SEC-registered investment advisory firm and affiliate of AmeriLife Group, disclosed in its Q4 2025 13F filing (reported in early April 2026) that it increased its stake in SETM by +40.4%, bringing its holdings to 52,000 shares valued at roughly $1.5 million.
This article provides a complete, data-driven SETM ETF analysis, including current holdings, expense ratio, institutional buying trends, the Sprott critical materials ETF strategy, and the broader energy transition ETFs landscape. It evaluates whether investors should consider following Brookstone’s move in the context of long-term ETF investing and the 2026 uranium and critical materials outlook. All facts, figures, dates, prices, holdings, and ownership details are verified from Sprott Asset Management’s official April 2, 2026 fund data, 13F filings reported in April 2026, Bloomberg terminal data, and Morningstar ETF profiles. This article is for informational and educational purposes only and does not constitute investment advice, a recommendation to buy, sell, or hold any security, or a solicitation of any kind. Investing in ETFs, including SETM, involves substantial risk of loss, including total loss of capital due to price volatility, currency movements, interest-rate changes, geopolitical events, commodity price swings, and regulatory risks. Past performance is not indicative of future results. Consult qualified financial, tax, and legal professionals before making any investment decisions.
What Is the Sprott Critical Materials ETF (SETM)?
The Sprott Critical Materials ETF (NASDAQ: SETM) is an actively managed exchange-traded fund launched on February 1, 2023, by Sprott Asset Management. It seeks to provide investment results that, before fees and expenses, correspond generally to the total return of companies involved in the production, processing, or recycling of critical materials essential to the energy transition, electrification, and high-tech industries.
SETM invests at least 80% of its total assets in securities of the Nasdaq Sprott Critical Materials Index or similar companies. The fund focuses on the miners and producers of uranium, lithium, copper, nickel, silver, manganese, cobalt, graphite, rare earth elements, and other materials critical to batteries, renewables, nuclear power, electronics, and defense applications.
Key fund details as of April 2–4, 2026 (Sprott official data):
Expense Ratio: 0.65% (management fee 0.65%, no other expenses)
Total Net Assets (AUM): $524,621,087.95
Shares Outstanding: 15,740,000
Number of Holdings: 126
Median 30-Day Bid-Ask Spread (as of March 9, 2026): 0.35%
Dividend Yield (TTM): Approximately 1.35–1.42% (annual dividend ~$0.45)
SETM is a pure-play vehicle for the energy transition theme, distinguishing it from broader commodity or mining ETFs.
SETM ETF Holdings – A Deep Dive into the Portfolio (as of April 2, 2026)
The fund is concentrated in the top 10 holdings, which represent approximately 45–46% of total assets. Top holdings as of April 2, 2026, include:
NAC Kazatomprom JSC (KAP LI): 5.60% – World’s largest uranium producer
Freeport-McMoRan Inc. (FCX): 5.51% – Major copper and gold producer
Lynas Rare Earths Ltd. (LYC AU): 5.45% – Leading non-Chinese rare earths processor
Albemarle Corp. (ALB): 5.29% – Leading lithium producer
PLS Group Ltd. (PLS AU): 5.11% – Lithium developer
Cameco Corp. (CCJ): 4.90% – Major uranium producer
First Majestic Silver Corp. (AG): 4.11%
Uranium Energy Corp. (UEC): 3.50%
MP Materials Corp. (MP): 3.10% – U.S. rare earths producer
Teck Resources Ltd. (TECK): 2.73%
The portfolio spans uranium (significant weighting via Kazatomprom, Cameco, UEC), lithium (Albemarle, PLS), copper (Freeport-McMoRan, Teck), rare earths (Lynas, MP Materials), and silver. Geographic exposure is diversified across Canada, Australia, Kazakhstan, the U.S., and other jurisdictions, with an emphasis on Western-aligned or non-Chinese supply chains. This construction aligns directly with energy transition ETFs and institutional demand for secure critical materials sourcing.
Brookstone Capital Management’s 40% Stake Increase in SETM
In its Q4 2025 13F filing (reported in early April 2026), Brookstone Capital Management disclosed it increased its position in SETM by +40.4%. The firm now holds 52,000 shares, valued at approximately $1.5 million at the time of the filing.
Brookstone Capital Management is a financial advisory firm and affiliate of AmeriLife Group, LLC. It manages growth, value, and dividend strategies and has been actively allocating to thematic ETFs that align with long-term secular trends such as the energy transition. The 40% increase reflects institutional conviction in SETM’s focus on critical materials essential for electrification, renewables, nuclear power, and high-tech applications.
This move is part of a broader pattern of institutional buying in critical materials and energy transition ETFs in early 2026, driven by tightening supply deficits and policy support for domestic/Western supply chains.
Why Institutional Investors Like Brookstone Are Buying SETM
Institutional investors are increasingly turning to thematic ETFs like SETM for several reasons:
Structural Supply Deficits: Critical materials (uranium, lithium, copper, rare earths) face multi-year shortages due to underinvestment in new supply and surging demand from EVs, data centers, renewables, and defense.
Energy Transition Tailwinds: Global policy commitments to net-zero and electrification favor companies in SETM’s index.
Diversification and Liquidity: ETFs provide instant diversification across 126 holdings with daily liquidity, lower single-stock risk than direct mining equities.
Fee Efficiency: SETM’s 0.65% expense ratio is competitive for an actively managed thematic ETF.
Brookstone’s increase signals confidence that SETM can deliver long-term ETF investing returns as the energy transition accelerates.
SETM ETF Analysis – Performance, Risks, and 2026 Outlook
Performance Context
Since inception (Feb 1, 2023), SETM has delivered strong returns tied to the critical materials rally. Year-to-date 2026 performance has been positive, reflecting uranium and copper strength, though the fund has experienced volatility typical of commodity-tilted ETFs.
Risks
Commodity price volatility (uranium, lithium, copper).
Geopolitical risks in key producing countries (Kazakhstan, Australia, Chile).
Concentration risk in top holdings.
Broader market corrections affecting thematic ETFs.
2026 Outlook
The uranium supply deficit, lithium demand from EVs and storage, and copper needs for grid/data centers support a constructive environment for SETM. Institutional inflows into energy transition ETFs are expected to continue, providing tailwinds for AUM growth and liquidity.
Long-Term ETF Investing in Energy Transition Themes
SETM fits well within a long-term ETF investing strategy for investors seeking exposure to the energy transition without single-stock risk. Its focus on critical materials positions it to benefit from multi-decade secular trends. For Canadian investors, SETM offers U.S.-listed access with CAD trading options and tax considerations in registered accounts.
How Institutional Investors Impact ETF Prices
Institutional buying, such as Brookstone’s 40% increase, can influence ETF prices through:
Increased demand for underlying holdings (creation/redemption mechanics).
Improved liquidity and tighter bid-ask spreads.
Positive signaling that attracts retail and other institutional flows.
However, ETF prices are primarily driven by the net asset value of holdings, so fundamental commodity and company performance remain the dominant drivers.
Is SETM ETF a Good Investment in 2026? Should I Invest in Sprott Critical Materials ETF?
Whether SETM is suitable depends on your risk tolerance, time horizon, and portfolio allocation. The fund offers targeted exposure to the energy transition with a competitive 0.65% expense ratio and strong institutional interest. The structural supply deficits in critical materials support a positive long-term outlook.
Investors comfortable with commodity volatility and thematic concentration may find SETM attractive for a diversified energy transition allocation. Those seeking lower risk may prefer broader ETFs or physical commodity trusts.
Conclusion
Brookstone Capital Management’s 40% stake increase in the Sprott Critical Materials ETF (SETM) highlights growing institutional conviction in critical materials and the energy transition theme. With a 0.65% expense ratio, diversified holdings in uranium, lithium, copper, rare earths, and other essential materials, SETM provides a liquid, cost-efficient way to participate in long-term ETF investing trends.
The 2026 outlook remains supported by supply deficits and policy tailwinds, though volatility from commodity prices and geopolitics remains a key risk. Canadian investors should evaluate SETM within a diversified portfolio and consider their individual circumstances.
Thewealthyminer.com elite investment club provides members with exclusive insights, real-time ETF analysis, and disciplined frameworks to evaluate opportunities like SETM and build resilient energy transition portfolios.
This article is based on Sprott Asset Management official data (April 2, 2026), 13F filings reported in April 2026, Bloomberg terminal data, Morningstar ETF profiles, and verified institutional disclosures. All prices, AUM, holdings weights, expense ratios, and ownership changes are reported exactly as sourced. This is not investment advice. ETF and mining investments involve substantial risk of loss. Consult qualified professionals.
Author
Ben McGregor authors the Weekly Roundup at CanadianMiningReport.com, providing sharp analysis of the metals and mining sector. With a talent for spotting trends, Ben distills complex market shifts into clear, engaging insights on TSXV junior miners. His weekly updates cover gold, copper, uranium, and more, blending data-driven perspectives with a knack for identifying opportunities. A vital resource for investors, Ben’s work navigates the dynamic junior mining landscape with precision.