ETF Winners of 2025: Key Themes of Precious Metals, International Stocks, and Defense

Vanguard’s VOO Becomes World’s First $1 Trillion ETF, Marking Passive Investing’s Historic Ascent
Published on: Sep 10, 2025

Wall Street witnessed significant volatility in 2025, with a gloomy start followed by a sharp rebound during the summer. As of September 5, the S&P 500 has gained approximately 10% year-to-date, while a group of ETFs focused on precious metals and international stocks have far outperformed the broad market, delivering returns of up to 102%.

According to authoritative data, the seven best-performing ETFs of 2025 all employed specific tactical strategies rather than broad diversification, with returns reaching 5 to 10 times that of the S&P 500. This selection excludes leveraged funds and is limited to established products with assets under management (AUM) exceeding $300 million.

The following is the list of the seven top-performing ETFs, ranked in ascending order by year-to-date return (Data as of September 5, 2025):

ETF Name AUM Expense Ratio YTD Return
VanEck Vietnam ETF (VNM) $570 million 0.68% 55%
abrdn Physical Platinum Shares ETF (PPLT) $1.6 billion 0.60% 55%
Global X MSCI Greece ETF (GREK) $300 million 0.57% 63%
Select STOXX Europe A&D ETF (EUAD) $1 billion 0.50% 73%
VanEck Junior Gold Miners ETF (GDXJ) $7.2 billion 0.51% 98%
iShares MSCI Global Gold Miners ETF (RING) $2 billion 0.39% 102%
iShares MSCI Global Silver Miners ETF (SLVP) $440 million 0.39% 102%

Precious Metals

Platinum has surged more than 50% year-to-date, significantly outperforming gold (35%) and silver (40%). The PPLT ETF achieves excess returns by holding physical platinum bullion. The GDXJ ETF, focused on over 80 small-cap gold miners with a weighted average market value below $7 billion per company, leverages “operational leverage” to deliver a 98% return. The RING and SLVP ETFs, which track global gold and silver miners respectively, have both gained 102%, benefiting from miners’ ability to outperform the underlying metal prices due to expanding profit margins.

International Stocks

The Vietnam ETF (VNM) has benefited from the country’s 7% GDP growth and its geopolitical positioning. Its top holdings include leading companies such as Vinhomes JSC (VHM.VN) and Vingroup JSC (VIC.VN). The Greece ETF (GREK) relies on the country’s relatively cheap labor and supply chain advantages, supported by an IMF-projected GDP growth of 2.3%. Its major holdings include financial institutions like National Bank of Greece SA (ETE.GA) and Eurobank Ergasias Services and Holdings SA (EUROB.GA).

Defense

The Select STOXX Europe Aerospace & Defense ETF (EUAD) has risen 73% against a backdrop of heightened geopolitical tensions. It holds European defense giants such as Airbus SE (OTC: EADSY) and Rheinmetall AG (OTC: RNMBY). Similarly, the Global X Defense Tech ETF (SHLD) has gained approximately 65% year-to-date.

Aviation Funds Gold Platinum Silver