Carbon Offset, Uranium ETFs Led Last Week's Gains

An ETF that holds futures contracts on voluntary carbon offset credits was last week's best performing exchange-traded fund, followed by several uranium funds, after output cuts at the world's largest producer and as a nuclear energy bill winds its way through the U.S. Congress.

Those leading ETFs exclude the 21% gain in the Simplify Tail Risk Strategy ETF (CYA), which leapt 21% after completing a 20-for-1 reverse stock split.

The KraneShares Global Carbon Offset Strategy ETF (KSET) jumped 12% last week, followed by a pair of uranium investments from Sprott: the Sprott Junior Uranium Miners ETF (URNJ) with a 9.9% increase and the Sprott Uranium Miners ETF (URNM) which added 9.2%.

Carbon offsets and uranium jumped after the world's largest producer, Kazakhstan's Kazatomprom, cut its output forecast, according to Bloomberg News. Also, the fast-tracking of the National Defense Authorization Act, which includes nuclear support, was highlighted in an analyst's note, and overall expectations for uranium use grows.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.