Friedberg @ 00:52:01Wrong
marketsclimate
For 2024, the uranium‑focused ETF URA (and underlying uranium/nuclear‑power equities) will be among the best‑performing assets, benefiting from a strong pro‑nuclear and uranium demand cycle.
Oh I took the uranium ETF Ura easy money... these companies are going to benefit from this big macro cycle.View on YouTube
Explanation
Available performance data show that the Global X Uranium ETF (URA) did not end up “among the best‑performing assets” in 2024.
- URA’s 2024 return: Multiple sources (Yahoo Finance and AskTraders, which pull from fund/market data) report URA’s calendar‑year 2024 total return at about –0.53%, essentially flat-to-slightly-negative. (asktraders.com)
- Broader market comparison: The S&P 500 delivered a ~25% total return in 2024, a very strong bull-market year, driven especially by mega‑cap tech stocks. (broadway.bank) Many thematic and leveraged ETFs, especially crypto- and AI‑related products, posted far higher returns; StatMuse’s list of top 2024 ETFs shows numerous funds with returns from ~90% into the triple‑ and even four‑digit percentages, and URA does not appear among those leaders. (statmuse.com) That is inconsistent with URA being “among the best-performing assets” for the year.
- Uranium/nuclear complex performance: Uranium‑focused benchmarks likewise underperformed: Sprott data show that by August 31, 2024, uranium mining equities were down about 13% year‑to‑date, while the S&P 500 was up nearly 20% over the same period. (sprott.com) Full‑year fundamentals also don’t match a runaway “easy money” bull year: TradeTech data cited in a 2024 report indicate the spot uranium price actually fell about 19% over 2024, from $91 to $73.50 per pound. (sec.gov) That’s not the price behavior you would expect if uranium exposure were one of the standout winning “assets” of the year.
There was indeed an ongoing pro‑nuclear narrative and longer‑term demand story, but for the specific year 2024, URA and uranium equities did not rank among the top‑performing assets by return. On that basis, the prediction that URA would be "easy money" and among the best‑performing assets in 2024 is wrong.