While the second Trump administration has sparked plenty of changes in the U.S., one of the most noteworthy trends for investors has been persistent headwinds for growth-oriented domestic stocks as other assets have come into favor over the last several months.
There are a host of reasons for this trend, but tariffs and trade policy are perhaps the most impactful. Both the readjustment of global supply chains along with inflation fears have caused a seismic shift in what’s working on Wall Street right now.
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As such, the following list of the best-performing ETFs of 2025 follows two main themes: the rise of alternative assets and the outperformance of foreign stocks even as the U.S. markets have struggled this year. The list is limited to ETFs that have more than $100 million in assets under management (AUM), and excludes leveraged and inverse funds to give a more focused list of thematic funds that are connecting with investors right now. Year-to-date returns are as of June 16:
| ETF | AUM | Expense ratio | YTD return |
| iShares MSCI Poland ETF (ticker: EPOL) | $470 million | 0.6% | 41% |
| iShares MSCI Brazil Small-Cap ETF (EWZS) | $150 million | 0.6% | 42% |
| Global X MSCI Greece ETF (GREK) | $240 million | 0.57% | 46% |
| Amplify Junior Silver Miners ETF (SILJ) | $1.2 billion | 0.69% | 51% |
| Global X Silver Miners ETF (SIL) | $2 billion | 0.65% | 54% |
| iShares MSCI Global Silver Miners ETF (SLVP) | $270 million | 0.39% | 57% |
| Global X Defense Tech ETF (SHLD) | $2.5 billion | 0.5% | 58% |
| iShares MSCI Global Gold Miners ETF (RING) | $1.4 billion | 0.39% | 60% |
| US Global GO GOLD and Precious Metal Miners ETF (GOAU) | $130 million | 0.60% | 62% |
| VanEck Junior Gold Miners ETF (GDXJ) | $5.8 billion | 0.51% | 63% |
iShares MSCI Poland ETF (EPOL)
AUM:
$470 million Expense ratio: 0.6% YTD return: 41%
Poland has been a strong outperformer in 2025 thanks in part to U.S. policies disrupting global trade, and the unique role that this nation has within the European Union. The region’s modest but resilient economy was the only member of the EU to avoid a formal recession through the 2007-2008 financial crisis, and remains a consistent contributor to eurozone growth thanks to its strong industrial sector. The nation is predicting a 3%-plus GDP expansion in 2025 even as the rest of the world struggles to find its way, and EPOL has seen a significant tailwind as a result. Top companies in this ETF include financial institution PKO Bank Polski SA and energy company Orlen SA.
iShares MSCI Brazil Small-Cap ETF (EWZS)
AUM: $150 million Expense ratio: 0.6% YTD return: 42%
Though highly tactical and smaller than the other leading ETFs covered here, this iShares fund has put up significantly better returns than the S&P 500 this year. That’s thanks to the trade-related spat between the U.S. and China that has resulted in a worldwide rebalancing of partnerships. One region that has decidedly benefited is Brazil, which is among the world’s largest exporters of agricultural products. If China reduces imports from the U.S., then Brazil is set to benefit — particularly given its No. 1 spot in the important soybean marketplace.
EWZS is focused on smaller companies in the region, with an arcane list of about 70 companies like fashion and lifestyle firm Lojas Renner SA and regional fintech firm StoneCo Ltd. (STNE). With hopes for continued growth for this emerging market despite the challenging environment for the the U.S., this small-cap ETF is a risky but interesting option.
Global X MSCI Greece ETF (GREK)
AUM: $240 million Expense ratio: 0.57% YTD return: 46%
In 2025, Greece is projected to experience a real GDP growth of 2%. While this doesn’t sound particularly impressive, it’s an important development for a nation that was once seen as the problem child of the eurozone economy. Growth is expected to be sustained by declines in the nation’s debt-to-GDP ratio and a significant fiscal surplus, showing structural resilience that has produced a virtuous cycle of consumption and investment. And as the world appears to be getting a bit smaller in the age of trade wars, Greece may have room for continued growth as a key partner to other European Union nations. That general sentiment has helped lift the nation — and the 30 or so components of GREK — led by financials such as the National Bank of Greece SA and Eurobank Ergasias Services and Holdings SA.
Amplify Junior Silver Miners ETF (SILJ)
AUM: $1.2 billion Expense ratio: 0.69% YTD return: 51%
With an average market value of about $3 billion across its 60 or so holdings and a mandate to chase companies that primarily produce silver, SILJ is a very tactical materials ETF that has performed quite well in 2025. Almost 60% of holdings are in Canada, with almost the entirety of the rest in the U.S. The fund has almost a third of assets in its top three positions, which are Coeur Mining Inc. (CDE), First Majestic Silver Corp. (AG) and Hecla Mining Co. (HL). Despite its unique nature, SILJ has a lot of investor interest with more than $1 billion in assets and volume that tops 3 million shares daily.
Global X Silver Miners ETF (SIL)
AUM: $2.0 billion Expense ratio: 0.65% YTD return: 54%
Focused on companies that mainly mine silver, SIL holds about 40 companies, led by Wheaton Precious Metals Corp. (WPM) and Pan American Silver Corp. (PAAS). Two-thirds of the portfolio is in Canada with the U.S. clocking in as the No. 2 geography. Topping the billion-dollar mark, this ETF is one of the largest and most established ETFs out there with precious metals exposure — but just happens to place a priority on silver instead of gold. As SIL’s performance shows, that’s been a pretty profitable segment of the materials industry in 2025 as well.
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iShares MSCI Global Silver Miners ETF (SLVP)
AUM: $270 million Expense ratio: 0.39% YTD return: 57%
Unlike the prior Global X fund, this iShares fund has a more international focus, led by Canada’s Pan American Silver and Mexico’s Industrias Peñoles as the top holdings. And unlike some of the larger precious metals funds that rely on big-name gold miners, the smaller nature of these companies — coupled with a focus on silver — makes SLVP stand apart from the other materials stocks that have relied mainly on gold’s rally to drive 2025 returns.
Global X Defense Tech ETF (SHLD)
AUM: $2.5 billion Expense ratio: 0.5% YTD return: 58%
According to Global X data, global defense spending has grown at more than 4% each year since 2020 thanks to continued concern about Russian aggression in Ukraine as well as geopolitical tensions in the Middle East. This focused fund has about 40 total holdings, including leading defense names such as Lockheed Martin Corp. (LMT), RTX Corp. (RTX) and Northrop Grumman Corp. (NOC), but also U.K.-based BAE Systems PLC (OTC: BAESF). The environment seems favorable for defense spending based on recent machinations in Washington, and the sector is sure to remain in focus as long as geopolitical uncertainty persists.
iShares MSCI Global Gold Miners ETF (RING)
AUM: $1.4 billion Expense ratio: 0.39% YTD return: 60%
A focused ETF with about than 40 total positions, top RING stocks include a who’s-who of U.S.-listed major miners of gold. Those include Newmont Corp. (NEM) and Agnico Eagle Mines Ltd. (AEM), among others. A big run for gold has naturally resulted in a big run for these go-to miners. About 54% of assets are in Canada gold miners, followed by 17% in U.S. stocks and 12% in South African companies. Note: The Sprott Gold Miners ETF (SGDM) and VanEck Gold Miners ETF (GDX) both also offer similar performance and portfolio composition, but are a bit more expensive with expense ratios of 0.50% and 0.51%, respectively.
US Global GO GOLD and Precious Metal Miners ETF (GOAU)
AUM: $130 million Expense ratio: 0.60% YTD return: 62%
Another unique mining ETF, this offering from boutique asset manager U.S. Global is broader than just gold with a focus on all precious metals miners. There are only about 30 total stocks in the portfolio, however, led by Wheaton Precious Metals, which historically has been known for silver production but also mines for gold, palladium, platinum and cobalt. About two-thirds of the fund is invested in Canadian stock, with about 11% each in Australia and the U.S. as the other top geographies.
VanEck Junior Gold Miners ETF (GDXJ)
AUM: $5.8 billion Expense ratio: 0.51% YTD return: 63%
Comprising 90 small gold miners with an average market value of about $4 billion, GDXJ provides an investment option for those looking to play the operational leverage of less-established but more agile materials firms. Top holdings include Evolution Mining Limited (OTC: CAHPF) and Alamos Gold Inc. (AGI), with about half of all assets in Canada and nearly 20% in Australia for a global approach to smaller gold mining companies. Note: The Sprott Junior Gold Miners ETF (SGDJ) also offers a similar focus on junior miners, but is significantly smaller at $180 million in assets.
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10 Best-Performing ETFs of 2025 originally appeared on usnews.com
Update 06/20/25: This story was previously published at an earlier date and has been updated with new information.
