5 Best Nuclear Energy Stocks and Funds to Buy Now
The nuclear power industry is at the nexus of two major shifts in how humanity generates and consumes electricity.
On the one hand, concern about the worst effects of climate change have spurred many governments around the world to press for greener sources of power, with many environmentalists getting on board with nuclear, despite the waste, because it is a way to generate reliable baseload power without producing greenhouse gases. On the other hand, electricity use is on the rise as artificial intelligence gains steam. The computers that run AI calculations in data centers need a tremendous amount of energy.
According to a July report from consulting firm Ducker Carlisle, data centers will drive significant electricity demand growth globally, with U.S. data center electric demand expected to rise by roughly 400 terawatt hours, or 23%, between 2024 and 2030. And by 2030, around 60% of global electricity generation will be from clean sources, led by solar photovoltaic, wind and nuclear generation.
“A new generation of large-scale nuclear reactors is being built in several countries with enhanced features, and small modular reactors are under development,” the consultancy said.
All this excitement has led many to believe that nuclear power, after a long slump following the Fukushima reactor disaster in Japan in 2011, is experiencing a renaissance. Some experts also caution that the excitement about AI and nuclear as a proxy may have resulted in overly heated valuations.
“In spite of what may look like a bubble, I remain very optimistic about the future,” says Yechezkel Moskowitz, founder of nuclear industry startup Curio, which is working to commercialize technology to recycle nuclear waste into usable reactor fuel. “Investors should be focusing on companies with a long-term horizon, because frankly, many of today’s most visible players don’t have the depth or durability that retail investors think.”
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With that in mind, here’s a look at the top nuclear stocks and funds to buy right now:
| Nuclear Energy Stocks/Funds | Year-to-date Return* |
| Cameco Corp. (ticker: CCJ) | 79.3% |
| Constellation Energy Corp. (CEG) | 70.8% |
| Centrus Energy Corp. (LEU) | 501.6% |
| VanEck Uranium and Nuclear ETF (NLR) | 90.9% |
| Sprott Physical Uranium Trust (OTC: SRUUF) | 11.7% |
*As of Oct. 13.
Cameco Corp. (CCJ)
Nuclear power plants use uranium to make electricity without carbon emissions, and the radioactive element has to first be mined before it can be processed into the purity needed for nuclear fission.
Many small mining companies have been ramping up uranium production and exploration, but they can be quite risky, although their upside can be quite substantial. That’s especially true for junior mining companies that are just exploring for economical deposits.
In contrast, Cameco is the world’s second-biggest miner of uranium, which means the company is less risky than exploration companies that aren’t yet in production. The company doesn’t just mine the radioactive metal; it has investments across the nuclear fuel cycle, including ownership interests in a nuclear technology equipment manufacturer and a laser uranium enrichment technology company. That business model makes Cameco an even more stable investment than a pure-play junior mining company.
Like other mining companies, Cameco is subject to price movements of the commodity it produces, which can be volatile.
Constellation Energy Corp. (CEG)
There are a couple of ways investors can play the nuclear theme through utilities. One is by owning utilities with nuclear plants that can charge premiums to tech companies who want to run data centers on electricity made without generating greenhouse gas emissions. The other is with nuclear utilities that could benefit if regulators decide they want to prioritize nuclear development.
Constellation, with the biggest fleet of nuclear plants in the United States, falls into the first bucket. Meta Platforms Inc. (META), for example, has a 20-year nuclear agreement with Constellation. And Microsoft Corp. (MSFT) has agreed to purchase energy from a Constellation-revived unit at the Three Mile Island nuclear power plant in Pennsylvania.
Investors do need to be cautious about finding attractive entry points into Constellation’s stock because investors have already been bidding up the name as a proxy for growth in the artificial intelligence industry.
Centrus Energy Corp. (LEU)
Current large reactors use low-enriched uranium to produce electricity. Advanced reactors and more than half of designs for an emerging technology called small modular reactors in development use a more concentrated form of uranium called high-assay, low-enriched uranium (HALEU), according to the World Nuclear Association.
Centrus is the only company in the U.S. with a license to make HALEU, and it has been producing small quantities.
With this license and manufacturing experience, Centrus is well positioned to make the fuel for a growing number of advanced reactors, small modular reactors and micro reactors. HALEU can also be used in conventional reactors.
VanEck Uranium and Nuclear ETF (NLR)
Investors who want to spread out the risk with a more diversified investment than single stocks can consider exchange-traded funds, or ETFs, which trade under a single ticker symbol but contain a basket of equities.
This ETF invests in uranium mining companies; companies that build, engineer and maintain nuclear power facilities and reactors; companies involved in the production of electricity from nuclear sources; and companies that provide equipment, technology or services to the nuclear power industry.
ETFs can also be a good idea for investors who want exposure to development-stage companies that have a high potential for reward but are also very risky, such as AI executive Sam Altman-backed advanced nuclear fission startup Oklo Inc. (OKLO), which has garnered headlines after going public via a special-purpose acquisition company.
The fund’s holdings of utility companies also give it a defensive tinge, which can help balance out the risk from companies like Oklo. Utilities are unlikely to outperform growth stocks during times of economic expansion and stock market optimism. But when the tide turns and economic uncertainty increases, utilities can act as a portfolio cushion because houses and businesses need electricity year-round, regardless of economic conditions.
NLR has an expense ratio of 0.56%, or $56 per year for every $10,000 invested.
Sprott Physical Uranium Trust (OTC: SRUUF)
Circling back to uranium, the key raw material for nuclear power, investors have other options than just picking single stocks of uranium mining companies. Investors interested in the uranium mining sector, but who want to spread out the risk, can consider the Sprott Uranium Miners ETF (URNM) for bigger miners and Sprott Junior Uranium Miners ETF (URNJ) for smaller players.
But to target the underlying commodity more specifically, investors can turn to the Sprott Physical Uranium Trust.
This isn’t an ETF, but it still trades on an exchange like a stock. Rather than shares that represent ownership in a company, this fund’s units represent a certain amount of physical uranium. Physical uranium owned by the fund is held in secured locations in Canada, with Cameco, as well as in the U.S. and France with other companies.
As of Oct. 10, SRUUF has a management expense ratio of 0.64%, or $64 per year for every $10,000 invested.
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5 Best Nuclear Energy Stocks and Funds to Buy Now originally appeared on usnews.com
Update 10/14/25: This story was published at an earlier date and has been updated with new information.