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Uranium

SRUUF

Sprott Physical Uranium Trust backed 1:1 by physical uranium metal (U3O8) stored in secure licensed facilities.

-23.70%
Correction·(-15% to -30%)

As of Nov 4, 2026, Uranium (SRUUF) closed at $19.12 /sh, representing a -23.70% drawdown from its all-time high of $25.06 /sh recorded on Feb 2, 2024 (1006 days ago). Returning to all-time high requires a +31.1% gain.

Last Close
$19.12/sh
Nov 4, 2026
All-Time High
$25.06/sh
Feb 2, 2024
Days Below Peak
1006d
Days below ATH
Gain to ATH
+31.1%
Needed to recover
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Historical Maximum Drawdowns & Annual Drops

Deepest peak-to-trough drop recorded within each calendar year.

Over the last 10 completed years, Uranium experienced an average intra-year drawdown of -31.0% lasting an average of 115 days peak-to-trough, with its deepest drawdown reaching -38.6% in 2022.

10Y Avg Drawdown
-30.97%
Bear Market
Deepest Drawdown
-38.56%
2022 · Bear Market
Avg Peak-to-Trough
115 days
YearMax Intra-Year DrawdownPeak HighBottom TroughPeak-to-TroughYearly Return
2025
-28.16%Correction
Jan 2, 2025
$17.90
Apr 7, 2025
$12.86
95 days
+12.67%
2024
-35.99%Bear Market
Feb 2, 2024
$25.06
Dec 26, 2024
$16.04
328 days
-18.87%
2023
-17.45%Correction
Feb 17, 2023
$13.01
Mar 15, 2023
$10.74
26 days
+82.05%
2022
-38.56%Bear Market
Apr 8, 2022
$15.87
Jul 13, 2022
$9.75
96 days
+6.17%
2021
-34.71%Bear Market
Sep 13, 2021
$14.55
Oct 11, 2021
$9.50
28 days
+19.14%

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Uranium Historical Maximum Drawdown & Bear Market History

Historical Maximum Drawdowns & Major Crashes

Uranium experienced one of the most punishing commodity supercycle busts in modern history. After touching an all-time peak of approximately $136/lb U3O8 spot in June 2007, uranium was already in a severe decline when the March 2011 Fukushima nuclear disaster caused widespread global reactor shutdowns. This triggered an epic -86.2% secular bear market that bottomed out at $17.75/lb in late 2016.

Typical Pullback Frequency

Nuclear utilities procure uranium via long-term multi-year contracts, leading to extended multi-year procurement lulls where spot prices suffer persistent -15% to -25% pullbacks. When utility contracting pauses coincide with mine supply surpluses, drawdowns regularly exceed -50%.

Historical Recovery Timelines

The post-Fukushima "nuclear winter" required nearly 15 years for global reactor restarts, mine supply curtailments, and secondary physical trust purchases to clear excess inventories and mount a sustained recovery back toward historical contracting price levels.

Frequently Asked Questions about Uranium

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How is the current drawdown of Uranium calculated?
For Uranium, drawdown measures the percentage decline from its all-time high closing peak of $25.06 /sh (reached on Feb 2, 2024) to its latest daily close of $19.12 /sh: (($19.12 /sh - $25.06 /sh) / $25.06 /sh) × 100 = -23.70% Calculations use official daily settled closes to filter out intraday wick noise. The drawdown only resets to 0.00% when a new settled close surpasses $25.06 /sh.
At what prices does Uranium enter a dip, pullback, correction, or bear market?
Measuring from Uranium's all-time high closing price of $25.06 /sh: • -5% Dip: Triggers at $23.81 /sh • -10% Pullback: Triggers at $22.55 /sh • -20% Correction: Triggers at $20.05 /sh • -20% Bear Market: Triggers at $20.05 /sh At its latest close of $19.12 /sh (-23.70%), Uranium is currently in Correction territory (Significant macro repricing driven by interest rate or dollar shifts (15% to 30% drop).).
How much does Uranium need to rise to reach a new all-time high?
From its current drawdown of -23.70%, Uranium must gain +31.1% from its current price of $19.12 /sh to break even back at its all-time high of $25.06 /sh. Because losses compound on a reduced capital base, the recovery gain required always exceeds the drawdown percentage. For example, on a hypothetical $1,000 capital base at today's price, returning to prior all-time highs equals $1,310.67 (a +$310.67 recovery increase).
Calculate custom drawdown & break-even targets with the Drawdown Calculator
What is the typical annual drawdown and duration for Uranium?
Across completed annual calendar cycles, Uranium experienced an average intra-year pullback of -31.0%, taking an average of 115 calendar days to reach bottom from its intra-year peak. The deepest annual decline occurred in 2022 with a -38.6% drop, while the mildest year was 2023 with a pullback of only -17.4%.
What is the historical maximum drawdown for Uranium?
The maximum historical drawdown recorded for Uranium across tracked cycles is -48.68%. In recent market history, its deepest calendar year decline occurred in 2022, falling -38.6% from $15.87 /sh (Apr 8, 2022) down to a trough of $9.75 /sh (Jul 13, 2022), spanning 96 days from peak to bottom.
Educational & Informational Purpose Only: All data shown is for informational purposes only and does not constitute financial advice. Past drawdowns and recoveries are not indicative of future returns. See our Terms of Service for full disclaimers.