A rare earth metals exchange traded fund has been rallying as the Biden administration looks to bolster the country’s future technologies in a new age of defense and security.

The VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) has increased 33.3% over the past month and 100.9% over the past three months.

REMX 3 Month Performance

The VanEck Vectors Rare Earth/Strategic Metals ETF is one way for investors to gain exposure to the rising demand for rare earth metals. The fund tracks the overall performance of companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals. REMX offers investors the opportunity to participate in the rare earth metals arena, without as much risk as an individual rare earth miner.

President Joe Biden has previously stated that to affordably deter Russia and China, he would shift investments from “legacy systems that won’t be relevant” to “smart investments in technologies and innovations — including in cyber, space, unmanned systems and artificial intelligence,” Defense News reported.

Investors may be looking at rare earth magnet metals, uranium for nuclear weapons, and key critical materials companies that extract cobalt for jet engines and scandium for lightweighting, InvestorIntel reports.

The rare earth miners extract metals and elements commonly used in the electric vehicle market, military, national security, and green energy technologies, such as high strength alloys and rare earth magnets.

Biden has already made it clear that his administration will also be pushing toward a more green initiative, with climate change as a key focal point. The technologies that will help the country shift toward green energy will also require rare earth metals and elements.

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