HURA ETF Rides UK-US Nuclear Deal and Supply Cuts
Canada’s HURA ETF is up nearly 60% YTD, fueled by uranium supply cuts and the landmark UK–US nuclear deal driving fresh demand for nuclear energy.
What’s driving long-term momentum in nuclear energy?
Nuclear energy is regaining global prominence as governments seek low-carbon, reliable power to meet rising electricity needs. Beyond decarbonization goals, the explosion of energy-hungry AI data centers has sharpened focus on stable baseload power. The World Nuclear Association expects uranium demand to rise nearly 30% by 2030, making it a central pillar of future energy security strategies.
Why has uranium surged in recent weeks?
Uranium futures in the U.S. climbed above $76 per pound, near recent highs, on a wave of supportive developments:
- Policy support: A landmark UK–US agreement was signed to accelerate nuclear expansion on both sides of the Atlantic. The “Atlantic Partnership for Advanced Nuclear Energy” includes up to 12 new modular reactors in northeast England and projects in the U.S. aimed at powering millions of homes and large-scale data centers. With an estimated economic impact of $54 billion, the deal is designed not only to expand capacity but also to create thousands of jobs and solidify nuclear’s role in energy-intensive industries.
- Supply constraints: Canada’s Cameco cut its 2025 output forecast due to delays at its McArthur River mine, while Kazakhstan’s Kazatomprom announced a 10% production cut for next year, tightening global supply.
- Strategic stockpiling: Washington confirmed it would increase uranium reserves in its national stockpile, further underpinning demand.
These developments reinforce the case for nuclear as both a security asset and a decarbonization tool, pushing uranium prices higher.
How has the only Canadian Uranium ETF performed?
The surge in uranium has translated into strong ETF performance. The Global X Uranium Index ETF (HURA), Canada’s dedicated uranium ETF, has posted:
- +16.8% weekly gains, reflecting the bullish short-term environment.
- Nearly +60% year-to-date performance, ranking among the best in Canada’s clean energy ETF space.
- $1.3 million in new inflows last week, lifting assets under management to $148 million.
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Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.
