Board/The reshoring trade/REXC

REXC

Sprott Rare Earths Ex-China ETF

Sprott · $81.9m in assets, October 8, 2026

Owns rare earth companies outside China that mine, separate or refine rare earth minerals, each earning at least half its revenue or assets from them.

REXC, the Sprott Rare Earths Ex-China ETF, is a $82 million ETF whose main story is the reshoring trade.

REXC · the ETFFRI OCT 2Market price total return
−26.1%Total return since launch, April 2026
47.9%Volatility since launch

The narrative it carries

Its main narrative, at 0.8 of its exposure.

The reshoring trade →

Infrastructure, critical metals and materials: what it takes to make more things at home.

The reshoring trade · the narrative this week
40.5QUIET level, 21 of 22
last four weeks
87ETFs carry it
59.1%held by the top five
PAVElargest holder, 18.5%
$70.0 bncapital, 15th of 22

The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.

Who owns the capital
PAVE 18.5%IGF 14.0%XLB 10.8%COPX 10.1%XME 5.7%82 other ETFs 40.9%59.1%top five
#ETFSHAREASSETS1 YEARCOST
1PAVE18.5%$13.36bn+13.5%0.47%
2IGF14.0%$10.07bn+3.9%0.37%
3XLB10.8%$7.78bn+10.9%0.08%
4COPX10.1%$7.25bn+45.1%0.65%
5XME5.7%$4.09bn+9.7%0.35%
82 other ETFs40.9%
REXC: 0.1%

Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 87 ETFs on the narrative page →

Also carries: The defense trade →

Defense contractors, defense technology and the industrial companies around them, paid from government budgets.

Exposure 0.2 · level 48.6 WARM, 12th of 22 · REXC holds 0.0% of its capital

FRI OCT 2MARKET PRICE TOTAL RETURN

1M3MYTD1Y3Y*5Y*
REXC−12.5%−19.4%––––
The reshoring tradeits narrative−4.9%−3.8%+9.5%+14.5%+20.1%+12.7%
The marketbroad US ETFs+0.8%+2.6%+14.6%+16.8%+22.9%+12.9%

1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on April 15, 2026: −26.1%.

$10,000 invested April 30, 2026

REXC $6,838The reshoring trade $9,457The market $10,739
$0$10,000$20,000Apr 2026$0$10,000$20,000Apr 2026

Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.

Common questions

What story is REXC selling?

REXC’s main story is the reshoring trade, which covers infrastructure, critical metals and materials: what it takes to make more things at home. Its second is the defense trade.

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Narrative figures are from the weekly board. Performance is market price total return as of October 2, 2026. Assets are StoryVector’s weekly figure. Classification and measurement. Not investment advice. How the measurement works →