Sprott Copper Miners ETF (COPP US) – Portfolio Construction Methodology

The underlying Nasdaq Sprott Copper Miners Index targets pure-play exposure to global copper miners and a small allocation to physical copper. The universe spans common stocks and depositary receipts listed on major exchanges, plus closed-ended trusts investing in physical copper sponsored by Sprott. Eligible issuers must be classified as copper producers, developers or explorers and have copper intensity of at least 50% of revenue, while passing Nasdaq free-float market cap and three-month average daily value traded screens and permitting only one security per issuer. At each semiannual reconstitution, all qualifying securities are included. Index weights are set by free-float market cap but first allocate 4.75% to physical copper, then cap any position at 24% and all others at 10%. Securities above 5% are grouped so their combined weight does not exceed 49%, with excess weights cut to 4.75%. The index is rebalanced and reconstituted semiannually in June and December.

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