Sprott Launches Ex-China Rare-Earth ETF. REEx Insights Maps What the Index Cannot See

Highlights

• Sprott REXC launched September 23 with MP Materials at 15.6%, Lynas at 15.1%, and USA Rare Earth at 11.6% as top holdings
• An ex-China equity screen does not guarantee an ex-China supply chain—companies can still depend on Chinese feedstock, separation, metals, or alloys
• Pure-play rare earth ETFs risk excluding experienced magnet producers like Shin-Etsu and TDK because their REE revenue share is too small
• REEx Insights tracks the full mine-to-magnet progression and flags the Transition Vulnerability Window where announced capacity cannot solve near-term shortages
• ETFs cannot own private assets like Serra Verde or represent physical chokepoints like Myanmar's HREE supply—gaps REEx maps continuously