SS&C ALPS Advisors launched the ALPS Nautilus SMR, Nuclear & Technology ETF (SMRF) Thursday, capitalizing on growing interest in nuclear power as a solution to surging electricity demands from artificial intelligence and data centers, according to a press release from the firm.
The fund offers a dual approach to the nuclear energy renaissance, according to the press release. It provides exposure to companies across the nuclear and small modular reactor value chain. At the same time, it pairs them with leading AI companies driving power demand. The ETF trades on NYSE Arca with a 0.65% expense ratio.
The fund’s active options overlay strategy sets it apart, according to the prospectus. The strategy generates monthly income while reducing volatility compared to its benchmark, the Nautilus SMR, Nuclear & Technology Index. Portfolio managers Ryan Mischker and Charles Perkins write and buy call and put options on the fund’s holdings to collect premiums, aiming to provide distributions at a relatively stable level.
“Thematic investing has continued to gain traction in 2026 as advisors seek diversified exposure to long term trends,” said Todd Rosenbluth, head of research at VettaFi. “It is great to see the addition of this ETF to the lineup of an established asset manager.”
A Nuclear Power Revival
The fund’s strategy reflects a broader shift in energy markets as tech companies seek reliable, carbon-free power sources for energy-intensive AI operations and data centers.
“Artificial intelligence is accelerating global demand for resilient, always‑on power, and SMRF offers investors a comprehensive way to participate across the nuclear and technology ecosystem,” said Mischker, senior vice president of portfolio management and research at SS&C ALPS Advisors.
Small modular reactors are nuclear reactors that are smaller and more simplified than traditional reactors with less power output, according to the prospectus. They are designed to be modular, meaning multiple units can be assembled to meet different power needs.
The benchmark index divides companies into four segments, according to the prospectus. These include AI firms, nuclear power generation or transmission companies, nuclear plant operators or construction firms, and uranium mining or enrichment companies. The index selects up to 25 companies per segment by market capitalization. It prioritizes pure-play companies.
AI companies are capped at 25% of the index, according to the prospectus.
Portfolio Construction
SMRF’s top holdings include uranium miners Kazatomprom, Energy Fuels Inc. (UUUU), NexGen Energy (NXE), Uranium Energy Corp. (UEC) and Cameco Corp. (CCJ), according to SS&C. It also holds nuclear technology companies BWX Technologies (BWXT) and power generator Constellation Energy Corp. (CEG).
The fund’s largest sector allocations are basic materials at 40.4%, technology at 22% and industrials at 13.1%, according to SS&C. By geography, the United States represented 47.6% of exposure, followed by Canada at 19.2% and Australia at 6.8%.
The options strategy limits the fund’s ability to profit from sharp increases in underlying securities, since shares may be called away at the strike price, according to the prospectus. However, the approach offers investors exposure to the nuclear energy theme with the potential for steady income and managed volatility.
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