Here Are 6 of the Best Performing ASX ETFs in the last 12 months! And Why They’ve Rallied So Strong!

Although there are over 400 ETFs on the ASX, the best performing ASX ETFs stand head and shoulders above their peers. This article outlines the top 6 and why each has done so well.

What are the Best ASX Stocks to invest in right now?

Check our buy/sell tips

6 of the Best Performing ASX ETFs in the last 12 months

1. MNRS – BetaShares Global Gold Miners ETF (Currency Hedged)

12-month performance: ~+121%

The MNRS ETF gave a total return of 149% in 2025, cementing it as one of the ASX’s standout performers of the year. The fund’s extraordinary run has been underpinned by an equally extraordinary gold market: the gold price reached a new record high of US$4,533 per ounce in December 2025, having enjoyed its best year for growth since 1979 with a 65% rally.

MNRS seeks to mirror the performance of the Nasdaq Global ex-Australia Gold Miners Hedged AUD Index and invests in 56 gold shares, with 44% in Canada, 14% in the US, 13% in South Africa, and 8% in Brazil. Its largest holding is Newmont Corporation, the world’s biggest gold miner by production, which benefited enormously from soaring gold prices and expanding margins. The currency hedge is a key feature, shielding Australian investors from AUD/USD fluctuations that could otherwise dampen returns.

The catalyst for the broader gold rally was central banks buying the yellow metal. Indeed, purchases increased fivefold since 2022, a structural shift triggered by Russia’s foreign-currency reserves being frozen following its invasion of Ukraine. For Australian investors seeking leveraged exposure to gold with currency protection, MNRS delivered in spectacular fashion.

2. GDX – VanEck Gold Miners ETF (ASX)

12-month performance: ~+121%

The GDX ETF gave a total return of 139% in 2025, making it another blockbuster performer riding the same seismic gold price surge. Where GDX differs from MNRS is in its breadth and its unhedged exposure to global mining equities. The GDX ETF invests in 93 stocks, with 44% in Canada, 20% in the US, 11% in Australia, and 6% in China.

Its largest holding is also Newmont Corporation, but GDX provides meaningful exposure to ASX-listed gold producers that MNRS does not. It holds Northern Star Resources (ASX: NST) shares at 2.7% of investments and Evolution Mining (ASX: EVN) at 2%. Both of these Australian miners surged alongside the gold price, amplifying returns for domestic investors who also benefit from familiar names within the portfolio.

The gold price has been on a tear since early 2024, driven by central banks buying the yellow metal, with Goldman Sachs saying central banks hoarding gold is a long-term structural shift. With gold since surpassing US$4,642 per ounce, GDX offers investors a well-diversified, liquid and cost-effective way to capture the ongoing upside in global gold mining equities without currency hedging.

3. IKO – iShares MSCI South Korea ETF

12-month performance: ~+108%

In 2025, South Korea took the cake as the best-performing stock market in the world, with its stock market gaining almost 101% in US dollar terms. The ASX-listed IKO ETF — which tracks the MSCI Korea 25/50 Index — captured this remarkable run, delivering over 108% in total returns over the past 12 months.

The story is largely a semiconductor one. SK Hynix is a memory specialist that makes high-bandwidth memory (HBM) — a type of ultra-fast memory increasingly paired with AI chips in data centres — and it performed exceptionally well because the AI boom boosted demand for advanced memory. Samsung’s total return was approximately 130%, while for SK Hynix the figure came in at a whopping 278%.

IKO’s top holdings include Samsung Electronics at 22.54%, SK Hynix at 10.40%, KB Financial Group at 3.13%, NAVER at 2.45%, and Hanwha Aerospace at 2.40%. Beyond tech, Korea’s defence manufacturers like Hanwha Aerospace have also been a visible growth pocket inside Korea equity exposure. Optimism over South Korea’s new government, which promised several investor-friendly reforms, also encouraged many global investors to the Korean Stock Exchange.

4. XMET – BetaShares Energy Transition Metals ETF

12-month performance: ~+111%

XMET has emerged as a compelling thematic play for investors backing the global shift away from fossil fuels. This ETF invests in metal producers powering the global clean energy transition, with exposure to global producers of copper, lithium, nickel, cobalt, graphite, manganese, silver, and rare earth elements.

The fund tracks the Nasdaq Sprott Energy Transition Materials Select Index and holds 42 companies across the global resource sector. Holdings include international shares like First Majestic Silver Corp and Ivanhoe Mines, as well as Aussie shares like ASX lithium pure-play PLS (ASX: PLS) and Lynas Rare Earths (ASX: LYC).  Majestic Silver (the top holding) surged as silver prices rallied alongside gold, while Ivanhoe Mines benefited from robust copper demand driven by electrification infrastructure globally.

The transition from fossil fuels to clean energy solutions is driving growth in a range of disruptive products and processes such as renewable energy generation, battery storage solutions, and electric vehicles, all of which are critically dependent on the select group of energy transition metals that XMET provides exposure to. With silver and copper in particular running hard, XMET rewarded patient investors willing to back the long-term structural case for clean energy infrastructure.

5. ATOM – Global X Uranium ETF

12-month performance: ~+91%

ATOM has become the go-to ASX vehicle for investors wanting exposure to the global nuclear renaissance, and 2025 was a pivotal year for the theme. The fund tracks the Solactive Global Uranium & Nuclear Components Total Return Index and delivered approximately 91% over the past 12 months as uranium demand surged on the back of a global rethink of nuclear energy’s role in decarbonisation and, crucially, powering AI data centres.

ATOM’s top holdings include Cameco at 23.20%, Oklo Inc. at 10.49%, Sprott Physical Uranium Trust Fund at 6.29%, Uranium Energy at 6.05%, and NexGen Energy at 5.09%. Cameco, the world’s largest publicly traded uranium producer. was a standout performer as long-term supply contracts were struck at elevated prices. Oklo Inc., an advanced small modular reactor (SMR) developer backed by Sam Altman, captured investor imagination and surged dramatically within the portfolio.

ATOM’s 52-week low was $11.32 (reached on 9 April 2025), against a 52-week high of $31.00 reached in January 2026, illustrating the breath-taking pace of the rerating. The fund’s AUM has grown to approximately $142 million as investors increasingly view uranium and nuclear as indispensable to the AI-powered energy future.

6. HGEN – Global X Hydrogen ETF

12-month performance: ~+92%

HGEN offers ASX investors exposure to one of the most forward-looking corners of the clean energy market – hydrogen. It has delivered a standout 12-month return of approximately 92%. The fund tracks the Solactive Global Hydrogen ESG Index and invests in companies that stand to benefit from the advancement of the global hydrogen industry, including companies involved in hydrogen production; the integration of hydrogen into energy systems; and the development and manufacturing of hydrogen fuel cells, electrolysers, and other technologies related to the utilisation of hydrogen as an energy source.

HGEN’s top holdings include Bloom Energy at 13.86%, Plug Power at 8.17%, Kaori Heat Treatment at 7.32%, Hyundai Engineering & Construction at 4.94%, and Doosan Fuel Cell at 4.64%.  Bloom Energy was the standout performer — the US-based solid oxide fuel cell specialist benefited from surging demand for clean, reliable power for data centres and industrial applications. Plug Power also recovered strongly after a difficult 2024.

The hydrogen theme has been rerated globally as governments push green energy policy and corporate demand for low-emission power grows. With a 52-week range of $3.69 to $9.27, HGEN rewarded investors who held through the volatility, reflecting both the promise and the ongoing maturation of the hydrogen economy.