Nuclear Energy Value Chain Index

Designed for ETF implementation and institutional use.

Overview

The Bulmer Nuclear Energy Value Chain Index is a rules-based index designed to capture the full ecosystem supporting nuclear power generation.

The index provides targeted exposure to companies across the nuclear value chain, including uranium production, fuel cycle services, reactor systems, nuclear engineering, and power generation.

Objective

The index seeks to track the performance of publicly listed companies generating meaningful, attributable revenue from nuclear energy activities across the fuel cycle and supporting infrastructure ecosystem.

Structural Tailwinds

Rising global electricity demand, driven by electrification trends, data center expansion, and increasing demand for reliable baseload power, is expected to significantly increase the need for stable energy generation.

Industry and institutional forecasts indicate that global electricity consumption will grow materially over the coming decades, with nuclear energy increasingly viewed as a key solution for providing consistent, low-carbon power.

The Problem with Existing Strategies

Existing nuclear and uranium-focused ETFs typically exhibit one of two limitations:

  • Concentrated exposure to uranium mining companies
  • Inclusion of utilities and diversified energy companies

These approaches provide partial exposure but fail to isolate companies directly involved in the nuclear fuel cycle and supporting infrastructure.

The Solution

The Nuclear Energy Value Chain Index applies a transparent, rules-based methodology to identify companies with direct and measurable exposure to nuclear energy.

Key features include:

  • Revenue-based eligibility thresholds
  • Explicit segment-level qualification requirements
  • Inclusion of fuel, infrastructure, and reactor-related companies across the value chain
  • Selective inclusion of companies with significant, identifiable nuclear exposure

Index Construction Highlights

  • Eligibility: Companies must meet defined revenue thresholds tied to nuclear-related activities
  • Classification: Companies are categorized based on level of nuclear exposure (Core vs. Ancillary)
  • Weighting: Rules-based weighting framework with exposure-based adjustments and position caps
  • Rebalancing: Quarterly
  • Reconstitution: Semi-annual

Differentiation

The index is designed to deliver:

  • Targeted exposure to the nuclear fuel cycle and infrastructure ecosystem
  • Reduced dilution from non-nuclear energy exposures
  • Transparent and repeatable rules-based construction
  • Alignment with long-term structural demand for nuclear energy

Use Case

The index is designed to serve as the underlying benchmark for:

  • Exchange-traded funds (ETFs)
  • Institutional investment products
  • Thematic mandates focused on energy security and nuclear power

Availability

The index is available for licensing to ETF issuers and investment product providers.

For licensing inquiries or to request the full methodology, please contact:

Jonathan Bulmer
Bulmer Index Group
jbulmer@bulmerindexgroup.com