ETFs continue to grow in popularity as investors look for simple, low-cost ways to access different parts of the market.
We analysed the returns of the best-performing ETFs in 2025 as at 31 December 2025 to see which funds came out on top.
Below are the top five performing ETFs in Australia over the 12 months to 31 December 2025 (in reverse order), and why they performed so strongly over the past year.
Before you rush in to buy these ETFs, pause. This year’s best performers can quickly become next year’s worst. Short-term returns are often driven by themes and momentum, which can reverse just as quickly, which is why diversified investing is so important.
The top five Australian ETFs of 2025
5. SPDR S&P/ASX Metals and Mining ETF (ASX : XMET)
One-year total return: 100.5%
XMET provides exposure to Australian metals and mining companies. The strong rebound in commodity prices and renewed demand for resources stocks drove significant gains across the sector in 2025.
The ETF benefited from stronger bulk commodity prices and improved sentiment toward China’s growth outlook, which lifted large Australian mining stocks.
4. Global X Physical Precious Metals Basket ETF (ASX : ETPMPT)
One-year total return: 109.5%
ETPMPT gives investors exposure to a basket of physical precious metals. Rising investor demand for inflation hedges and safe-haven assets supported strong performance over the year.
Heightened geopolitical uncertainty and ongoing central bank gold buying supported investor demand for precious metals throughout 2025.
3. Global X Physical Silver ETF (ASX : ETPMAG)
One-year total return: 132.8%
ETPMAG tracks the price of physical silver. Silver benefited from both safe-haven demand and its use in industrial applications, including renewable energy and electronics.
Silver’s dual role as both a precious and industrial metal meant it benefited from safe-haven flows as well as continued investment in clean energy infrastructure.
2. VanEck Gold Miners ETF (ASX: GDX)
One-year total return: 143.8%
GDX invests in global gold mining companies. When gold prices rise, mining stocks can amplify those gains, which contributed to outsized returns in 2025.
Gold mining companies were supported by favourable operating conditions and strong investor demand for the sector, which contributed to significant share price gains over the year.
1. BetaShares Global Gold Miners ETF – Currency Hedged (ASX : MNRS)
One-year total return: 155.9%
The best performing ETF in 2025 was MNRS, which provides exposure to global gold mining companies with currency hedging. A surge in gold prices combined with the operational leverage of miners led to exceptional returns over the year.
Currency hedging helped isolate the performance of the underlying miners, allowing investors to fully capture the strength in global gold equities.
Common themes in 2025
Unlike previous years where technology or growth stocks dominated, 2025’s top performers were heavily concentrated in commodities and precious metals.
This highlights an important lesson for investors: short-term leaders are often driven by a single theme. In 2025, it was gold, silver and mining stocks. In other years, it has been technology, gaming or climate-focused funds.
Interestingly, the ETFs that topped the charts in 2025 were not the leaders in prior years, reinforcing how quickly performance leadership can change.
Long term view for 2026 and beyond
While 100%+ returns are eye-catching, they often come with high volatility. Commodity and mining ETFs can experience large swings in both directions depending on metal prices, currency movements and shifts in global growth expectations.
It’s also worth noting the difference between tactical exposure and strategic allocation. At Stockspot, we’ve long included gold and precious metals as part of our diversified portfolios, not to chase short-term performance, but because gold can help diversify portfolios and provide protection during periods of market stress. The goal isn’t to predict when gold (or the mining of it) will surge, but to ensure portfolios are prepared across a range of economic environments.
Rather than trying to pick next year’s top-performing theme, we believe investors are better served by holding a diversified mix of assets, including shares, bonds and gold, aligned to their long-term goals.
Best Performing ETFs 2025
| ETF CODE | ETF NAME | 1-YEAR RETURN |
| MNRS | BetaShares Global Gold Miners ETF – Currency Hedged | 155.9% |
| GDX | VanEck Gold Miners ETF | 143.8% |
| ETPMAG | Global X Physical Silver ETF | 132.8% |
| ETPMPT | Global X Physical Precious Metals Basket ETF | 109.5% |
| XMET | SPDR S&P/ASX Metals and Mining ETF | 100.5% |
If you want to find out more about the Australian ETF landscape from previous years, explore our historic ETF reports.
If you’re unsure what ETFs you should be investing in or are worried that this years best performing ETF might be next years loser, Stockspot builds risk managed, balanced portfolios, for investors just like you, focused on long term goals.
