VettaFi recently sat down with Range Fund Holdings founder and CEO Tim Rotolo to discuss the exciting investment opportunity for nuclear energy. He brings unique expertise in this area, having founded North Shore Indices, which launched the uranium mining index URNMX in 2019. Mr. Rotolo also designed the Range Nuclear Renaissance Index (NUKZX). It underlies the Range Nuclear Renaissance Index ETF (NUKZ).
Why nuclear? Why now?
Global electricity demand is accelerating as AI data centers, electrification, and economic growth drive an unprecedented need for reliable energy. Nuclear power is uniquely positioned to meet this challenge, delivering clean, zero-emission baseload electricity with the highest capacity factor of any major energy source.
Across the industry, recent milestones illustrate how momentum around nuclear energy is building across every stage of the value chain. Global Laser Enrichment began testing large-scale uranium enrichment technology in Wilmington, North Carolina, advancing efforts to secure a stable domestic fuel supply and strengthen the foundation of the nuclear ecosystem. At the same time, Oklo unveiled an upgraded design for its next-generation Aurora reactor, expanding its capacity from 50 to 75 megawatts and signaling real progress toward commercial deployment of advanced nuclear technology. Constellation reinforced nuclear’s role in the clean energy mix through a 20-year agreement to supply Meta’s data centers with zero-carbon power, demonstrating how nuclear is being embraced by the world’s largest technology companies.
Meanwhile, Lockheed Martin and NASA are pushing the boundaries of what’s possible. They’re exploring nuclear’s potential beyond Earth through a lunar reactor initiative aimed at supporting long-duration space missions. At the policy level, Cameco’s partnership with the U.S. government to expand deployment under an $80 billion nuclear cooperation pact underscores the public/private alignment driving long-term investment and global leadership in the sector.
Looking ahead, the next phase of nuclear innovation is rapidly approaching. Modular and advanced reactor technologies are expected to come online by 2027, with commercialization milestones from X-energy, GE Hitachi, and others by 2028. As these breakthroughs converge with the global push for clean, dispatchable power, nuclear energy is set to play a central role in meeting the world’s growing demand for secure and sustainable electricity. The combination of accelerating innovation, supportive policy, and urgent energy needs marks a true inflection point. It’s one that positions nuclear power at the heart of the global energy transition.
What do you say to advisors who may have clients who still believe nuclear power is a source of dangerous waste or dangerous even without the waste?
Many perceived risks around nuclear power are often overstated. That is largely due to outdated narratives and misunderstandings about today’s technology and safety protocols. The reality is that modern nuclear is among the safest and cleanest forms of utility-scale energy. Today, nuclear power delivers a ~93% capacity factor with one of the lowest lifec ycle CO₂ footprints in the global energy stack. Safety standards have advanced significantly through enhanced reactor designs, passive safety mechanisms, and rigorous regulatory oversight. Waste management practices are highly controlled and continue to improve, with next-generation reactors being designed to reduce, repurpose, or recycle existing waste. Clients should understand that this industry today is highly secure, deeply regulated, and engineered around long-term operational stability and public safety.
Why not own energy or utilities broadly to get exposure to electrification-driven power demand?
Broad energy and utility allocations often dilute exposure across fossil fuels, cyclical commodity trends, and regulated defensive utilities. Nuclear, by contrast, represents a structural growth theme powered by long-term electrification, decarbonization mandates, and rising energy security priorities. Unlike intermittent renewables or traditional fossil power, nuclear delivers zero-emission, high-capacity, round-the-clock generation. For investors seeking targeted exposure to the clean baseload infrastructure behind global electrification, a broad allocation may not provide the precision or thematic purity that a focused nuclear strategy offers.
If I’m an advisor who can see the case for nuclear, what role does it play in my portfolio?
The Range Nuclear Renaissance Index (NUKZX) is designed as a thematic vehicle that provides targeted exposure to this full value chain — including advanced reactor developers, utilities, uranium fuel suppliers, and construction and services providers. It can be incorporated as a clean energy growth allocation aligned with long-term energy transition trends; as a satellite position within the energy or utilities sleeve with higher structural growth potential; or as a diversifier tied to infrastructure resilience, national security, and rising baseload demand. It provides a concentrated yet diversified approach to capturing the nuclear renaissance.
Why choose a product tracking NUKZX compared to other options in the space?
NUKZX was purpose-built to capture this moment in the sector’s evolution, offering a comprehensive approach that spans core nuclear operators, fuel supply chains, cutting-edge SMR innovators, and essential infrastructure and service providers. With global policy accelerating, construction pipelines expanding, and sentiment shifting in favor of nuclear’s role in clean energy and energy security, NUKZX provides exposure to a multidecade secular growth story that could still be in its early innings. Compared to strategies narrowly focused on uranium miners or utilities alone, NUKZX captures value across the full cycle of nuclear development and deployment.
To hear more from Tim Rotolo on this subject, please join our webcast on Monday, November 3, at 2 p.m. ET. CE Credit will be available. Register here.
NUKZX is the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ).
vettafi.comis owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.
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