5 Best Metals ETFs to Buy in Q2 2024

Metals are a valuable commodity with a broad range of uses and are often seen as a safe haven. This page picks the best metals ETFs for the year ahead.
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Updated: Jun 21, 2024
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Ranging from miners to physical reserves, ETFs give investors exposure and easy access to stocks that operate in the metals industry. This page picks the best ones for the year ahead. 

What are the top metals ETFs to buy?

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Our expert analysts have picked five of the top metal ETFs for this year listed in the table below. To find out more information about each one, continue scrolling to learn more.

#ETF symbolETF nameLearn more
1DBBInvesco DB Base Metals FundLearn more >
2PICKiShares MSCI Global Metals & Mining ProducersLearn more >
3GLTRAberdeen Standard Physical Precious Metals Basket SharesLearn more >
4REMXVanEck Rare Earth/Strategic MetalsLearn more >
5XMESPDR S&P Metals & Mining ETFLearn more >
List selected by our team of analysts, updated June 2024

1. Invesco DB Base Metals Fund (DBB)

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  • Assets: $170 million
  • Expense ratio: 0.77%
  • Year of inception: 2007
  • Average annual return since inception: -0.26%
  • 30-day SEC yield: N/A
  • Benchmark index: DBIQ Optimum Yield Industrial Metals Index Excess Return

The Invesco DB is a fund designed for investors who want a cost-effective way to invest in commodity futures. It seeks to track changes in the level of the DBIQ Optimum Yield Industrial Metals Index and is composed of futures contracts on some of the most liquid and widely used base metals. 

Its holdings are spread fairly equally across three base metals: aluminum, zinc, and copper. As it consists of futures contracts, its performance is directly linked to its managing owner and their trading principles and ability. The futures market is volatile and even small movements can result in large losses, meaning this fund is higher risk than others in our list.

This is confirmed through its performance. Since its inception in 2007, the fund lost over 60% in value in the two years following. However, it has recovered somewhat since then although has seen more of a range bound price rather than a trend. Its up and down price movements means it’s most suited to a more experienced trader or investor. 

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2. iShares MSCI Global Metals & Mining Producers (PICK)

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  • Assets: $1.2 billion
  • Expense ratio: 0.39%
  • Year of inception: 2012
  • Average annual return since inception: 2.89%
  • 30-day SEC yield: 2.97%
  • Benchmark index: MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index

PICK tracks the performance of an index called the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. It invests in companies that are involved in the extraction or production of diversified metals, excluding silver and gold.

While it contains stocks from around the world, it has a stronger focus on companies based in either the UK, US, and Australia where over 50% of its holdings reside. The top two companies in this ETF belong to the first and second largest mining companies in the world, BHP and Rio Tinto. 

The PICK ETF has done relatively well over the years. Its total return in the past five years, helped by its stock performance and its dividend yield of almost 3%. 

The benefit of investing in the PICK ETF is that it invests in the most popular mining companies in the world. It also has a lower expense ratio than other metal ETFs, which has a ratio of over 0.50%. The only con is that it lacks gold mining companies like Newmont and Barrick Gold.

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3. Aberdeen Standard Physical Precious Metals Basket Shares (GLTR)

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  • Assets: $1 billion
  • Expense ratio: 0.60%
  • Year of inception: 2010
  • Average annual return since inception: 1.76%
  • 30-day SEC yield: N/A

Unlike many ETFs, the Aberdeen Standard Physical Precious Metals does not track an index. Rather, it seeks to reflect the performance of physical assets including, gold, silver, platinum, and palladium. The fund is designed for investors wanting a cost effective and convenient way to invest in physical metals. 

Its largest holding out of the four metals is gold, where almost 60% of the total fund is focused. Second is silver which makes up nearly 30%, with platinum and palladium making up the last 10%. All of its metals bars are held in a secure London vault at JP Morgan and Chase bank. 

The GLTR ETF did well in 2024 as most metals surged. Gold soared to a record high of almost $2,500 while silver, platinum, and palladium rebounded. By mid-2024, the fund was up by more than 56%.

The GLTR fund is a good one to invest in because of the intersection of precious metals and industrial metals. While silver, platinum, and palladium are all classified as precious metals, they can also be classified as industrial metals.

However, the fund also has a high expense ratio of 0.60%, which is higher than most ETFs.

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4. VanEck Rare Earth/Strategic Metals (REMX)

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  • Assets: $295 million
  • Expense ratio: 0.56%
  • Year of inception: 2010
  • Average annual return since inception: -7.86%
  • 30-day SEC yield: N/A
  • Benchmark index: Global Rare Earth/Strategic Metals Index

The VanEck Rare Earth/Strategic Metals ETF seeks to replicate the performance and yield of an index called the MVIS Global Rare Earth/Strategic Metals. The index tracks companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals. Rare earths are highly popular metals that are found in key industries like solar power, semiconductors, and smartphones.

The fund only includes companies that are pure plays in the rare earth/strategic metals industries and offers global coverage. However, the majority of its holdings reside in China, Australia, and the United States. Some of the biggest companies in the VanEck Rare Earth and Strategic Metals ETF are firms like Pilbara Minerals, Lynas Rare Earths, Albermarle, China Northern Rare Earth Group, and Tronox Holdings.

The weighting and size of the fund is what makes it different to many others. It spreads its money around its 20 holdings fairly evenly meaning it’s a more diverse way to invest in the rare earth and strategic metals industries. 

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5. SPDR S&P Metals & Mining ETF (XME)

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  • Assets: $2.02 billion
  • Expense ratio: 0.35%
  • Year of inception: 2006
  • Average annual return since inception: 3.61%
  • 30-day SEC yield: 0.64
  • Benchmark index: S&P® Metals and Mining Select Industry® Index

The SPDR S&P employs a sampling strategy, which means that it is not required to purchase all stocks belonging to the index it tracks. Instead, it is able to pick and choose which stocks to buy with the aim of tracking the index. It seeks to track the performance of the S&P Metals & Mining Select index. 

Similar to the VanEck ETF above, XME holds only a small number of companies while offering an equal weighting across the board. It currently consists of 30, small, medium, and large cap companies from around the world. Some of the biggest companies fund are Carpenter Technology, Alcoa, Newmont, Freeport McMoran, Royal Gold, and Consol Energy. 

It offers exposure to a broad range of metal sectors, including gold, silver, aluminium, and copper. Although steel stocks currently make up over 40% of its total holdings. Its equal weighting and diversification mean investing in this ETF is a good way to gain exposure to all sizes of companies operating in the metals market. 

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Where to buy the best metals ETFs

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To buy metal ETFs you will need to register with an online broker. ETFs work in the same way regular stocks do and you can buy and sell them at any time. The table below lists some of the best brokers around offering metal ETFs. Click through to any of the links to get started in just a few minutes. 

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

3
Min. Deposit
$ 0
Best offer
User Score
9.0
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Start Trading
Payment Methods:
Debit Card, Wire Transfer, Check, Bank Wire
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

What is a metals ETF?

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It’s an exchange traded-fund that holds shares in companies that operate in the metals industry. Being such a large and diverse sector, these companies can include miners, producers, and physical holders among others. The metals industry is vital for most  economies around the world and is crucial for many industrial sectors. 

Are metals ETFs a good investment?

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Yes they can be and are a good way to diversify a portfolio. The metals industry is large and provides resources required for other industries to operate. Metals are essential for manufacturing, power generation, and construction. Technological advances have resulted in less labor intensive production and cleaner and more environmentally friendly practices. 

Generally, these ETFs offer stability and slow movements. Although volatility can arise, especially as many closely resemble the prices of the most popular metals such as gold, silver, copper, and steel. Any wild price swings in a specific metal, can sometimes lead to erratic moves in some of the ETFs. 

However, metals and especially precious metals are often seen as a hedge against inflation and a safe haven. This makes them particularly popular among investors seeking an aspect of safety in their portfolios. Whatever you decide to do, it’s key to keep up to date with the latest news and developments, which you can do so by clicking the links below. 

Sign up to a broker to buy metals ETFs

Latest metals news

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Risk disclaimer
Crispus Nyaga
Market Analyst
Crispus is a Financial Analyst for Invezz covering the stock, cryptocurrency and forex markets. He’s an experienced analyst with more than 8 years of industry experience.... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.