Composition
| # | Constituent | Ticker | Exchange | Secondary | Country | Sector | Weight |
|---|---|---|---|---|---|---|---|
| 1 | Lynas Rare Earths | LYC.AX | ASX | LYSDY (OTC) | Australia | Processing & Separation | 10.00% |
| 2 | MP Materials | MP | NYSE | — | USA | REE Mining & Extraction | 10.00% |
| 3 | JL Mag Rare-Earth | 6680.HK | HKEX | 300748.SZ | China | Magnet & Alloy Manufacturing | 10.00% |
| 4 | USA Rare Earth | USAR | NASDAQ | USARW (warrants) | USA | Magnet & Alloy Manufacturing | 10.00% |
| 5 | Neo Performance Materials | NEO.TO | TSX | NOPMF (OTC) | Canada | Magnet & Alloy Manufacturing | 10.00% |
| 6 | Meteoric Resources | MEI.AX | ASX | — | Australia | Exploration Stage | 8.01% |
| 7 | Arafura Rare Earths | ARU.AX | ASX | ARAFF (OTC) | Australia | Exploration Stage | 7.87% |
| 8 | Lindian Resources | LIN.AX | ASX | — | Australia | Exploration Stage | 7.53% |
| 9 | Critical Metals | CRML | NASDAQ | — | British Virgin Islands | Exploration Stage | 5.97% |
| 10 | Aclara Resources | ARA.TO | TSX | — | Canada | Exploration Stage | 5.75% |
| 11 | Ucore Rare Metals | UCU.V | TSXV | UURAF (OTC) | Canada | Processing & Separation | 5.47% |
| 12 | Pensana | PRE.L | LSE Main | — | United Kingdom | Exploration Stage | 5.17% |
| 13 | Mkango Resources | MKA.L | LSE AIM | MKA.V (TSXV) | Canada | Exploration Stage | 4.25% |
★ marks constituents currently bound at the 10% single-name cap. Weights sum to 100.00%; aggregate free-float market capitalization at the rebalance close US$20.87 billion.
Deleted since inception: Australian Strategic Materials (ASM.AX), removed effective the August 19, 2026 close at its last traded price (A$1.17) following its acquisition by Energy Fuels; weight at deletion 3.22%, redistributed pro rata to the remaining constituents. Details in the reconstitution log; mechanics in methodology §8.4. The ASM profile page is retained as an inaugural-composition record.
Each constituent has a profile with its inception and current weight, sector reasoning and sources. Companies reviewed and excluded are in the audit trail; every company the index has screened is listed by status on the rare earth stocks page. Weights and levels are published as data under /data/.
Sector summary
- REE Mining & Extraction
- 1 constituent · 10.0% weight
- Processing & Separation
- 2 constituents · 15.5% weight
- Magnet & Alloy Manufacturing
- 3 constituents · 30.0% weight
- Recycling & Urban Mining
- 0 constituents · 0% weight
- Exploration Stage
- 7 constituents · 44.5% weight
Cap binding
Five of thirteen constituents are at the 10% single-name cap. Their natural uncapped free-float weights at the Q3 2026 rebalance close were: Lynas 43.74%, MP Materials 32.39%, JL Mag 7.29%, USA Rare Earth 5.05%, Neo Performance Materials 3.30%. The cap redistributes excess weight pro-rata across the remaining constituents.
Lynas and MP Materials are at the cap on their own free-float market capitalization. JL Mag, USA Rare Earth, and Neo Performance Materials reach the cap through iterative redistribution from the larger names. The cap-bound set is unchanged from inception and from the Q2 rebalance. The five capped names hold 50% of the index; the other 50% is shared by eight uncapped constituents, where nine shared it at the Q2 rebalance before the deletion of Australian Strategic Materials. Full reasoning for the inception construction is in the inaugural constituent note.