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 mutual funds, all ETFs are traded throughout the day on an exchange.
In January 2025, the top-performing ETFs included equity precious metals funds L&G Gold Mining AUCO and UBS Solactive Global Pure Gold Miners GGMUSY. 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 (£20.0 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, six funds fell into the equity precious metals category, where the average name rose 13.74% in January.
The 10 Best-Performing ETFs for January 2025
1. L&G Gold Mining UCITS ETF AUCO
2. UBS (Irl) ETF PLC - Solactive Global Pure Gold Miners UCITS ETF GGMUSY
3. VanEck Gold Miners UCITS ETF GDX
4. iShares Gold Producers UCITS ETF USD (Acc) IAUP
5. VanEck Junior Gold Miners UCITS ETF GDXJ
6. Market Access NYSE Arca Gold BUGS Index UCITS ETF M9SD
7. iShares MSCI Brazil UCITS ETF USD (Dist) IBZL
8. iShares MSCI Brazil UCITS ETF (DE) 4BRZ
9. Xtrackers MSCI Brazil UCITS ETF XMBD
10. Amundi MSCI Eastern Europe Ex Russia UCITS ETF ESTE GF
Best-Performing ETFs Available in the UK
Source: Morningstar Direct.
Metrics for the Best-Performing ETFs
L&G Gold Mining UCITS ETF
• Morningstar Rating: ★★★
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The £199 million L&G Gold Mining was the best-performing ETF in January, with a 21.61% return. The passively managed Legal & General ETF beat the 13.74% gain on the average fund in Morningstar’s equity precious metals category for the month. Over the last 12 months, L&G Gold Mining has returned 61.91%, outperforming the 41.45% gain on the average fund in its category, leaving the ETF in the 5th percentile.
L&G Gold Mining has a Morningstar Medalist Rating of Neutral. It was launched in September 2008.
UBS (Irl) ETF PLC - Solactive Global Pure Gold Miners UCITS ETF
• Morningstar Rating: ★★★★
• Expense Ratio: 0.40%
• Morningstar Category: Equity Precious Metals
The second-best performing ETF in January was the £184 million UBS Solactive Global Pure Gold Miners. The passively managed UBS ETF returned 17.94%, outperforming the average equity precious metals fund, which gained 13.74%. Looking back over the last year, UBS Solactive Global Pure Gold Miners has returned 65.61%, outperforming the 41.45% return on the average fund in its category, leaving the ETF in the 1st percentile.
The Neutral-rated UBS Solactive Global Pure Gold Miners was launched in November 2012.
VanEck Gold Miners UCITS ETF
• Morningstar Rating: ★★★
• Expense Ratio: 0.53%
• Morningstar Category: Equity Precious Metals
The £1 billion VanEck Gold Miners ranked third for the month, returning 15.77%. The VanEck ETF, which is passively managed, topped the 13.74% average return on funds in the equity precious metals category for January. Over the last 12 months, the VanEck ETF has returned 43.75%, ahead of the 41.45% gain on the average fund in its category, leaving the ETF in the 55th percentile.
VanEck Gold Miners has not yet been awarded a Morningstar Medalist Rating.
iShares Gold Producers UCITS ETF USD (Acc)
• Morningstar Rating: ★★★★
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
With a 15.35% return, the £1.3 billion iShares Gold Producers ranked fourth in January. The passively managed iShares ETF outperformed the 13.74% return on the average equity precious metals fund. Over the last year, the fund has gained 42.94%, ahead of the 41.45% return on funds in its category, placing it in the 57th percentile for the period.
iShares Gold Producers has a Neutral Morningstar Medalist Rating. It was launched in September 2011.
VanEck Junior Gold Miners UCITS ETF
• Morningstar Rating: ★★
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The fifth-best performing ETF was the £437 million VanEck Junior Gold Miners, which gained 14.57% in January. This passively managed VanEck ETF performed roughly in line with the 13.74% average return on funds in the equity precious metals category. Over the past 12 months, VanEck Junior Gold Miners rose 49.88%, outperforming the 41.45% return on the average fund in its category and placing it in the 27th percentile.
VanEck Junior Gold Miners, launched in March 2015, has a Morningstar Medalist Rating of Neutral.
Market Access NYSE Arca Gold BUGS Index UCITS ETF
• Morningstar Rating: ★★★
• Expense Ratio: 0.65%
• Morningstar Category: Equity Precious Metals
The £56 million Market Access NYSE Arca Gold BUGS Index was the sixth-best performing UK ETF in January, with a 14.31% return. The return on the passively managed Market Access Asset Management ETF was roughly in line with the 13.74% gain on the average fund in Morningstar’s equity precious metals category. Looking back over the last year, Market Access NYSE Arca Gold BUGS Index has returned 47.02%, outperforming the 41.45% return on the average fund in its category, leaving the ETF in the 37th percentile.
The Neutral-rated Market Access NYSE Arca Gold BUGS Index was launched in January 2007.
iShares MSCI Brazil UCITS ETF USD (Dist)
• Morningstar Rating: ★★★
• Expense Ratio: 0.74%
• Morningstar Category: Brazil Equity
The seventh-best performing ETF in January was the £218 million iShares MSCI Brazil. The passively managed iShares ETF returned 13.68%, outperforming the average Brazil equity fund, which gained 11.12%. Looking back over the last 12 months, iShares MSCI Brazil has dropped 15.36%, dropping less than the 17.58% loss on the average fund in its category, leaving the ETF in the 44th percentile.
iShares MSCI Brazil has a Morningstar Medalist Rating of Bronze. It was launched in November 2005.
iShares MSCI Brazil UCITS ETF (DE)
• Morningstar Rating: ★★★
• Expense Ratio: 0.27%
• Morningstar Category: Brazil Equity
The £1.8 billion iShares MSCI Brazil ranked eighth for the month, returning 13.68%. The iShares ETF, which is passively managed, topped the 11.12% average gain on funds in the Brazil equity category. Over the last year, the iShares ETF has declined 14.52%, dropping less than the 17.58% loss on the average fund in its category, leaving it in the 24th percentile for performance.
The Bronze-rated iShares MSCI Brazil was launched in October 2018.
Xtrackers MSCI Brazil UCITS ETF
• Morningstar Rating: ★★★★
• Expense Ratio: 0.25%
• Morningstar Category: Brazil Equity
With a 13.29% gain, the £58 million Xtrackers MSCI Brazil ranked ninth in January. The passively managed Xtrackers ETF outperformed the 11.12% return on the average Brazil equity fund. Over the last 12 months, the fund has dropped 14.37%, declining less than the 17.58% loss on funds in its category, placing it in the 18th percentile.
Xtrackers MSCI Brazil, launched in June 2007, has a Morningstar Medalist Rating of Bronze.
Amundi MSCI Eastern Europe Ex Russia UCITS ETF
• Morningstar Rating: ★
• Expense Ratio: 0.50%
• Morningstar Category: Emerging Europe ex-Russia Equity
The tenth-best performing ETF was the £118 million Amundi MSCI Eastern Europe Ex Russia, which gained 13.25% in January. The passively managed Amundi ETF beat the 8.28% average return on funds in the emerging Europe ex-Russia equity category. Over the past year, Amundi MSCI Eastern Europe Ex Russia rose 15.38%, underperforming the 18.42% return on the average fund in its category and placing it in the 64th percentile.
Amundi MSCI Eastern Europe Ex Russia has not yet been awarded a Morningstar Medalist Rating.
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.
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.
