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 the first quarter of 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 quarter’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 (£19.3 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 26.41% in the first quarter.
The 10 Best-Performing ETFs for Q1 2025
1. L&G Gold Mining UCITS ETF AUCO
2. UBS (Irl) ETF PLC - Solactive Global Pure Gold Miners UCITS ETF GGMUSY
3. iShares Gold Producers UCITS ETF USD (Acc) IAUP
4. VanEck Gold Miners UCITS ETF GDX
5. iShares EURO STOXX Banks 30-15 UCITS ETF (DE) EXX1
6. Amundi Euro Stoxx Banks UCITS ETF BNKE
7. Invesco EURO STOXX Optimised Banks UCITS ETF S7XE
8. VanEck Junior Gold Miners UCITS ETF GDXJ
9. Market Access NYSE Arca Gold BUGS Index UCITS ETF M9SD
10. Invesco STOXX Europe 600 Optimised Banks UCITS ETF SC0U
Best-Performing ETFs Available in the UK
Source: Morningstar Direct. Data as of March 31, 2025.
Metrics for the Best-Performing ETFs
L&G Gold Mining UCITS ETF
• Morningstar Rating: 3 stars
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The £196 million L&G Gold Mining was the best-performing ETF in the first quarter, with a 38.22% return. The passively managed Legal & General ETF beat the 26.41% gain on the average fund in Morningstar’s equity precious metals category for the quarter. Over the last 12 months, L&G Gold Mining has returned 58.91%, outperforming the 42.67% gain on the average fund in its category, leaving the ETF in the 9th percentile.
The L&G Gold Mining UCITS ETF 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: 4 stars
• Expense Ratio: 0.40%
• Morningstar Category: Equity Precious Metals
The second-best performing ETF in the first quarter was the £237 million UBS Solactive Global Pure Gold Miners. The passively managed UBS ETF returned 33.10%, outperforming the average equity precious metals fund, which gained 26.41%. Looking back over the last year, UBS Solactive Global Pure Gold Miners has returned 59.54%, outperforming the 42.67% return on the average fund in its category, leaving the ETF in the 4th percentile.
The Neutral-rated UBS Solactive Global Pure Gold Miners UCITS ETF was launched in November 2012.
iShares Gold Producers UCITS ETF USD (Acc)
• Morningstar Rating: 4 stars
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The £2 billion iShares Gold Producers ranked third for the quarter, returning 31.17%. The iShares ETF, which is passively managed, topped the 26.41% average return on funds in the equity precious metals category for the first quarter. Over the last 12 months, the iShares ETF has returned 44.36%, ahead of the 42.67% gain on the average fund in its category, leaving the ETF in the 55th percentile.
iShares Gold Producers, launched in September 2011, has a Morningstar Medalist Rating of Neutral.
VanEck Gold Miners UCITS ETF
• Morningstar Rating: 4 stars
• Expense Ratio: 0.53%
• Morningstar Category: Equity Precious Metals
With a 31.07% return, the £1.3 billion VanEck Gold Miners ranked fourth in the quarter. The passively managed VanEck ETF outperformed the 26.41% return on the average equity precious metals fund. Over the last year, the fund has gained 43.91%, ahead of the 42.67% return on funds in its category, placing it in the 57th percentile for the period.
The VanEck Gold Miners UCITS ETF has not yet been awarded a Morningstar Medalist Rating.
iShares EURO STOXX Banks 30-15 UCITS ETF (DE)
• Morningstar Rating: 2 stars
• Expense Ratio: 0.51%
• Morningstar Category: Equity Financial Services
The fifth-best performing ETF was the £1.1 billion iShares EURO STOXX Banks 30-15, which gained 30.20% in the first quarter. This passively managed iShares ETF beat the 6.82% average return on funds in the equity financial services category. Over the past 12 months, iShares EURO STOXX Banks 30-15 rose 38.48%, outperforming the 20.58% return on the average fund in its category and placing it in the 14th percentile.
The iShares EURO STOXX Banks 30-15 UCITS ETF 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.
Amundi Euro Stoxx Banks UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.30%
• Morningstar Category: Equity Financial Services
The £1.3 billion Amundi Euro Stoxx Banks was the sixth-best performing UK ETF in the first quarter, with a 29.72% return. The return on the passively managed Amundi ETF topped the 6.82% gain on the average fund in Morningstar’s equity financial services category. Looking back over the last year, Amundi Euro Stoxx Banks has returned 39.07%, outperforming the 20.58% return on the average fund in its category, leaving the ETF in the 11th percentile.
The Neutral-rated Amundi Euro Stoxx Banks UCITS ETF was launched in November 2018.
Invesco EURO STOXX Optimised Banks UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.30%
• Morningstar Category: Equity Financial Services
The seventh-best performing ETF in the first quarter was the £127 million Invesco EURO STOXX Optimised Banks. The passively managed Invesco ETF returned 29.57%, outperforming the average equity financial services fund, which gained 6.82%. Looking back over the last 12 months, Invesco EURO STOXX Optimised Banks has returned 38.55%, outperforming the 20.58% return on the average fund in its category, leaving the ETF in the 13th percentile.
The Invesco EURO STOXX Optimised Banks UCITS ETF has a Morningstar Medalist Rating of Neutral. It was launched in April 2011.
VanEck Junior Gold Miners UCITS ETF
• Morningstar Rating: 2 stars
• Expense Ratio: 0.55%
• Morningstar Category: Equity Precious Metals
The £473 million VanEck Junior Gold Miners ranked eighth for the quarter, returning 29.41%. The VanEck ETF, which is passively managed, topped the 26.41% average gain on funds in the equity precious metals category. Over the last year, the VanEck ETF has returned 48.65%, ahead of the 42.67% return on the average fund in its category, leaving it in the 36th percentile for performance.
The Neutral-rated VanEck Junior Gold Miners UCITS ETF was launched in March 2015.
Market Access NYSE Arca Gold BUGS Index UCITS ETF
• Morningstar Rating: 3 stars
• Expense Ratio: 0.83%
• Morningstar Category: Equity Precious Metals
With a 27.04% gain, the £60 million Market Access NYSE Arca Gold BUGS Index ranked ninth in the first quarter. The passively managed Market Access Asset Management ETF performed roughly in line with the 26.41% return on the average equity precious metals fund. Over the last 12 months, the fund has returned 43.05%, roughly in line with the 42.67% return on funds in its category, placing it in the 61st percentile.
The Market Access NYSE Arca Gold BUGS Index UCITS ETF, launched in January 2007, has a Morningstar Medalist Rating of Neutral.
Invesco STOXX Europe 600 Optimised Banks UCITS ETF
• Morningstar Rating: 3 stars
• Expense Ratio: 0.20%
• Morningstar Category: Equity Financial Services
The tenth-best performing ETF was the £241 million Invesco STOXX Europe 600 Optimised Banks, which gained 25.73% in the first quarter. The passively managed Invesco ETF beat the 6.82% average return on funds in the equity financial services category. Over the past year, Invesco STOXX Europe 600 Optimised Banks rose 39.91%, outperforming the 20.58% return on the average fund in its category and placing it in the 9th percentile.
The Invesco STOXX Europe 600 Optimised Banks UCITS ETF has a Morningstar Medalist Rating of Neutral. It was launched in July 2009.
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.
