Exchange-traded funds, or ETFs, are often low-cost instruments for investors to track popular indexes or leverage experienced manager choices in an attempt to beat the market. The best ones serve as building blocks for a portfolio, and unlike open-end funds, all ETFs are traded throughout the day on an exchange.
In October 2024, the top-performing ETFs included equity technology fund VanEck Crypto & Blockchain Innovators DAPP and equity precious metals fund Global X Silver Miners SILV. Data in this article is sourced from Morningstar Direct.
Screening for the Best-Performing ETFs
To find the month’s best-performing ETFs, we screened those in Morningstar’s Equity, Allocation, or Fixed-Income categories that are available in the UK. We excluded exchange-traded notes, known as ETNs, and ETFs with less than $25 million (£19.2 million) in total assets. We also excluded funds that fall into Morningstar’s “trading” categories, as these funds are designed for active traders and are not suitable for long-term investors.
Within our list, three funds fell into the equity precious metals category, where the average name rose 9.07% in October.
The 10 Best-Performing ETFs for October 2024
1. VanEck Crypto & Blockchain Innovators UCITS ETF DAPP
2. Global X Silver Miners UCITS ETF SILV
3. VanEck Uranium and Nuclear Technologies UCITS ETF NUCL
4. Global X Uranium UCITS ETF URNU
5. iShares Blockchain Technology UCITS ETF BLKC
6. iShares S&P US Banks ETF BNKS
7. VanEck Junior Gold Miners UCITS ETF GDXJ
8. UBS(Irl) ETF PLC – Solactive Global Pure Gold Miners UCITS ETF GGMUSY
9. Invesco CoinShares Global Blockchain UCITS ETF BCHN
10. Invesco KBW NASDAQ Fintech UCITS ETF FTEK
Metrics for the Best-Performing ETFs
VanEck Crypto & Blockchain Innovators UCITS ETF
• Morningstar Rating: 1 star
• Expense Ratio: 0.65%
• Morningstar Category: Equity Technology
The £152 million VanEck Crypto & Blockchain Innovators was the best-performing ETF in October, with a 17.47% return. The passively managed VanEck ETF beat the 4.58% gain on the average fund in Morningstar’s equity technology category for the month. Over the last 12 months, VanEck Crypto & Blockchain Innovators has returned 122.97%, outperforming the 32.76% gain on the average fund in its category, leaving the ETF in the 1st percentile.
VanEck Crypto & Blockchain Innovators has a Morningstar Medalist Rating of Bronze. It was launched in April 2021.
Global X Silver Miners UCITS ETF
• Morningstar Rating: N/A
• Expense Ratio: 0.70%
• Morningstar Category: Equity Precious Metals
The second-best performing ETF in October was the £111 million Global X Silver Miners. The passively managed Global X ETF returned 15.83%, outperforming the average equity precious metals fund, which gained 9.07%. Looking back over the last 12 months, Global X Silver Miners has returned 50.37%, outperforming the 42.39% return on the average fund in its category, leaving the ETF in the 31st percentile.
Global X Silver Miners has a Negative Morningstar Medalist Rating, meaning that our analysts expect it to be one of the worst performers within its category and think it is unlikely to deliver positive returns after fees.
VanEck Uranium and Nuclear Technologies UCITS ETF
• Morningstar Rating: N/A
• Expense Ratio: 0.55%
• Morningstar Category: Equity Alternative Energy
The £159 million VanEck Uranium and Nuclear Technologies ranked third for the month, returning 14.46%. The VanEck ETF, which is passively managed, topped the 1.66% average loss on funds in the equity alternative energy category for October. Over the last 12 months, the VanEck ETF has returned 42.96%, ahead of the 8.05% gain on the average fund in its category, leaving the ETF in the 1st percentile.
VanEck Uranium and Nuclear Technologies, launched in February 2023, has a Morningstar Medalist Rating of Negative.
Global X Uranium UCITS ETF
• Morningstar Rating: N/A
• Expense Ratio: 0.70%
• Morningstar Category: Equity Natural Resources
With a 12.94% return, the £118 million Global X Uranium ranked fourth in October. The passively managed Global X ETF outperformed the 2.23% return on the average equity natural resources fund. Over the last 12 months, the fund has gained 17.84%, ahead of the 10.01% return on funds in its category, placing it in the 21st percentile for the period.
Global X Uranium has a Neutral Morningstar Medalist Rating. It was launched in April 2022.
iShares Blockchain Technology UCITS ETF
• Morningstar Rating: N/A
• Expense Ratio: 0.49%
• Morningstar Category: Equity Technology
The fifth-best performing ETF was the £50 million iShares Blockchain Technology, which gained 11.67% in October. This passively managed iShares ETF beat the 4.58% average return on funds in the equity technology category. Over the past year, iShares Blockchain Technology rose 87.94%, outperforming the 32.76% return on the average fund in its category and placing it in the 3rd percentile.
iShares Blockchain Technology, launched in September 2022, has a Morningstar Medalist Rating of Bronze.
HSBC NASDAQ Global Semiconductor UCITS ETF
• Morningstar Rating: 1 star
• Expense Ratio: 0.35%
• Morningstar Category: Equity Financial Services
The £328 million iShares S&P US Banks was the sixth-best performing UK ETF in October, with a 10.12% return. The return on the passively managed iShares ETF topped the 4.13% gain on the average fund in Morningstar’s equity financial services category. Looking back over the last 12 months, iShares S&P US Banks has returned 52.46%, outperforming the 34.13% return on the average fund in its category, leaving the ETF in the 5th percentile.
The Neutral-rated iShares S&P US Banks was launched in May 2018.
VanEck Junior Gold Miners UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The seventh-best performing ETF in October was the £422 million VanEck Junior Gold Miners. The passively managed VanEck ETF returned 10.10%, outperforming the average equity precious metals fund, which gained 9.07%. Looking back over the last 12 months, VanEck Junior Gold Miners has returned 46.60%, outperforming the 42.39% return on the average fund in its category, leaving the ETF in the 42nd percentile.
The VanEck Junior Gold Miners has a Morningstar Medalist Rating of Neutral. It was launched in March 2015.
UBS(Irl) ETF PLC – Solactive Global Pure Gold Miners UCITS ETF
• Morningstar Rating: 3 stars
• Expense Ratio: 0.40%
• Morningstar Category: Equity Precious Metals
The £138 million UBS Solactive Global Pure Gold Miners ranked eighth for the month, returning 9.41%. The UBS ETF, which is passively managed, performed roughly in line with the 9.07% average gain on funds in the equity precious metals category. Over the last 12 months, the ETF has returned 53.82%, ahead of the 42.39% return on the average fund in its category, leaving it in the 17th percentile for performance.
The Neutral-rated UBS Solactive Global Pure Gold Miners was launched in November 2012.
Invesco CoinShares Global Blockchain UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.65%
• Morningstar Category: Equity Technology
With a 9.30% gain, the £465 million Invesco CoinShares Global Blockchain ranked ninth in October. The passively managed Invesco ETF outperformed the 4.58% return on the average equity technology fund. Over the last 12 months, the fund has returned 52.51%, ahead of the 32.76% return on funds in its category, placing it in the 8th percentile.
Invesco CoinShares Global Blockchain, launched in March 2019, has a Morningstar Medalist Rating of Bronze.
Invesco KBW NASDAQ Fintech UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.49%
• Morningstar Category: Equity Technology
The tenth-best performing ETF was the £49 million Invesco KBW NASDAQ Fintech, which gained 8.87% in October. The passively managed Invesco ETF beat the 4.58% average return on funds in the equity technology category. Over the past year, Invesco KBW NASDAQ Fintech rose 48.99%, outperforming the 32.76% return on the average fund in its category and placing it in the 11th percentile.
Invesco KBW NASDAQ Fintech has a Morningstar Medalist Rating of Bronze. It was launched in March 2017.
What Are ETFs?
Exchange-traded funds are investments that trade throughout the day on stock exchanges, much like individual stocks. They differ from traditional mutual funds – known as open-end funds – which can only be bought or sold at a single price each day. Historically, ETFs have tracked indexes, but in recent years, more ETFs have been actively managed. ETFs cover a range of asset classes, including stocks, bonds, commodities, and most recently cryptocurrency.
The Best ETFs: More Ideas to Consider
Investors who would like to find more of the top-performing or cheapest ETFs can do the following:
• Read the latest articles on ETFs.
• Use the ETF screener to find the best ETFs according to your specific criteria. You can search for funds based on their fees, Morningstar Medalist Ratings, manager tenures, and more.
• Compare funds and ETFs side by side and easily follow their valuations, ratings, and fees.
This article was compiled by Bella Albrecht, edited by Lauren Solberg, and reviewed by Sunniva Kolostyak.
As part of our mission to put more information into the hands of investors, this article was compiled from Morningstar’s data and independent research using automation technology. The original article was written by Morningstar reporters and editors. This updated version was reviewed by an editor.
This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
