Investing in the metals and
rare earths of the future
The world is becoming increasingly energy-hungry and the story is no longer just a ‘transition’ from one energy system to another. A more accurate framing is energy addition: total energy demand keeps rising, and a meaningful share of new renewable capacity is being built to meet incremental demand, not simply to replace legacy sources. Six forces are driving demand. First, we are in an era of energy addition: total energy demand is rising as economies grow and electrify, and a meaningful share of new renewables is being built to meet incremental demand rather than simply replace legacy supply. Second, decarbonisation and electrification are scaling, driving a metals-intensive buildout across renewables, batteries and grid infrastructure. Third, energy security has become a dominant policy priority since the Russia-Ukraine war, accelerating diversification of supply and ‘friend-shoring’ efforts that are infrastructure-heavy and metals-intensive. Fourth, data centres are contributing to sustained growth in electricity demand and in some regions, already creating localised constraints that require incremental generation and grid reinforcement. Fifth, artificial intelligence (AI) acts as an additional catalyst because AI workloads are materially more power intensive than traditional computing, amplifying the need for generation and grid investment as deployment scales. Sixth, two technology trends continue to raise metals intensity across the economy: 5G rollout (connectivity and wiring) and evolving vehicle technology (greater electrification, higher electronic content and lightweighting).
The result is a broader, more durable demand backdrop: decarbonisation, energy security, electrification and digital infrastructure are now reinforcing each other, supporting the case for strategic metals exposure.
Metals are the new energy
Several years ago WisdomTree recognised that the growth engine for strategic metals extends beyond a single policy goal. As the global economy electrifies and the buildout of renewables, grids, data centres and advanced technologies accelerates, metals increasingly function like the enabling infrastructure of the modern energy system. This inspired us to build a differentiated suite of exposures that allow investors to access the theme through both commodities and equities, supported by our long-standing expertise in commodities and thematics investing, informed by our partnership with Wood Mackenzie, a leading energy and metals research consulting firm.
The WisdomTree Strategic Metals UCITS ETF (WENU) provides refined exposure to a diversified basket of metals that sit at the heart of electrification and ‘energy addition.’ The approach is not just a static demand story. It is constructed to be sensitive to supply-demand balance considerations, reflecting how these markets can tighten (or loosen) as supply responds slowly to new demand and bottlenecks emerge across mining and processing.
The WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF (RARE) provides diversified, yet targeted access to the miners that underpin strategic metals and rare earth supply chains. It is built to capture the theme’s breadth across multiple demand engines (from renewables and grids to AI linked electricity growth), while acknowledging the reality that supply chains are being re-priced through the lens of security and resilience as well as decarbonisation. The result is an equity allocation aimed at gaining exposure to the companies most aligned with the strategic metals supply chain opportunity, rather than relying on simple market-cap construction.
Together, the WisdomTree Strategic Metals UCITS ETF and the WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF are intended to reflect the updated reality of the theme: metals are not only inputs to the energy transition, they are foundational to energy security, electrification and powering modern technologies.
The WisdomTree Strategic Metals UCITS ETF provides exposure to a basket of liquid tradable metals that are central to electrification, energy addition and the buildout of modern infrastructure, including copper, aluminium, nickel, silver, zinc, lead, tin, platinum, cobalt and lithium, among others. The selection and weighting of the underlying metals is informed by expected demand growth across these end markets, while also taking account of near-term supply dynamics, recognising that strategic metals prices can be highly sensitive to periods of tightening or oversupply.
Source: WisdomTree, Wood Mackenzie, based on forecasts created July 2025. Bubble size represents the target weight. Market balance ratings is not considered for precious metals and is not available for tin. For the purpose of the chart construction, we set the Market balance rating at the midpoint (0.5) for these metals. Cobalt and Lithium weights are capped due to liquidity considerations at 1.5% and 1.0% respectively. Forecasts are not an indicator of future performance and any investments are subject to risks and uncertainties.
For more information, read the methodology of the underlying index tracked by this ETF.
For more information, read the methodology of the underlying index tracked by this ETF.
Why WisdomTree Strategic Metals UCITS ETF?
Access the metals of the future:
The WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF is designed to identify and invest in global mining and processing companies, across both developed and emerging markets, that are critical to strategic metals and rare earths supply chains. The investment case extends beyond decarbonisation alone. These materials sit at the heart of energy addition (more power generation and grid buildout), energy security (diversified and resilient supply chains) and the rapid scaling of modern technologies, including electrification and AI-related infrastructure.
The strategy goes beyond simple sector exposure. It seeks to reflect how important different metals are across these applications, using a weighting approach that considers factors such as market size, supply chain relevance, company exposure and expected demand growth, while recognising that supply constraints and concentration can shape outcomes for miners over time.
The WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF provides exposure across 14 metal categories. For each category, the strategy looks across the value chain and depending on the metal, may include subsectors such as:
Source: Wood Mackenzie, WisdomTree as of 31 January 2026. Historical performance is not an indication of future performance and any investments may go down in value.
For more information, read the methodology of the underlying index tracked by this ETF.
For more information, read the methodology of the underlying index tracked by this ETF.
Why WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF?
Our Expert Partner
WisdomTree has extended its thematic equities and commodities partnership in the energy transition space with Wood Mackenzie to offer a solution in energy transition metals and rare earths miners. Wood Mackenzie is a leading energy transition research and consulting firm that has been providing quality data, analytics, and insights used to power the energy, renewables, and natural resources industry for nearly 50 years.
Their expertise in topics including energy, chemicals, metals and mining, and power and renewables make Wood Mackenzie an ideal partner to offer pure exposure to this rapidly evolving theme. Learn more about Wood Mackenzie.