7 Best Mining and Metals ETFs to Buy in 2026 | Investing

Metals and mining companies have long been part of the bedrock of the modern economy. Metals are ubiquitous, found in everything from skyscrapers to kitchen appliances, from automobiles to electronics. So it makes sense, then, that metals and mining companies are also taking on a growing importance amid the energy transition away from fossil fuels, as governments around the world seek to decarbonize their economies.

These raw materials are also playing a role in geopolitics and national security, as nations seek to stockpile metals that are not only critical for the energy transition but also for military applications.

Of course, no investment comes without risks, and metals and mining companies are no different. The same industrial uses that can make metals good investments can also be a source of volatility as economic cycles ebb and flow.

“While AI-driven power demand is significant, market narratives can outpace actual project implementation,” says Andrew Izyumov, CEO and co-founder of 8Figures, an AI investment advisor and portfolio tracker.

“Additionally, manage your position sizes carefully,” he says. “These investments should not form the core of your retirement portfolio. Consider thematic commodity plays as you would a venture capital allocation.”

With that in mind, here’s a look at seven top metals and mining exchange-traded funds, or ETFs:

Global X Copper Miners ETF (COPX)

Let’s start off with one of the most broadly used industrial metals, copper. Because copper is so widely used in construction, automobiles and electronics, demand for the metal is often considered a leading indicator of economic health. It is sometimes referred to as Dr. Copper, as if it had an advanced degree in economics.

And copper is playing an increasingly important role in the economy amid the energy transition. “Upgrading grid infrastructure is impossible without it,” Izyumov says. He points to this ETF, COPX, which holds a basket of companies involved in copper mining.

The fund holds large diversified miners like BHP Group Ltd. (BHP) and Glencore PLC (OTC: GLNCY), so it won’t track the price of copper like futures would, but these companies do derive a substantial portion of their revenue from selling copper.

There are also smaller, more copper-focused players in the mix, including Ivanhoe Mines Ltd. (OTC: IVPAF) and Southern Copper Corp. (SCCO). These players will be more susceptible to copper price volatility, which offers more upside but also more risk.

Alex Tsepaev, chief strategy officer with financial services provider B2Prime Group, says copper is more of a long-dated conviction bet with a 10-year to 15-year time horizon.

“Mine supply was severely disrupted last year, and a meaningful deficit is projected for 2026, which may potentially exceed 6 million metric tons annually by the early 2030s,” he says. “This metal’s demand is expected to grow 50% to 70% by 2040 even under net-zero scenarios, and everything is due to strong demand from EVs and energy infrastructure.”

The fund’s expense ratio is 0.65%.

Sprott Uranium Miners ETF (URNM)

Another metal that will play a role in the energy transition and the artificial intelligence buildout is uranium, because it is the key material to power nuclear reactors.

While natural gas is expected to be a crucial bridge fuel because it burns cleaner than coal, it is still a fossil fuel that emits planet-warming carbon dioxide. Nuclear power doesn’t, which makes it attractive to big tech companies wanting to power their AI data centers with a greener footprint.

“AI is creating unprecedented electricity demand, and nuclear energy remains one of the few scalable, continuous, low-carbon solutions for powering large data centers,” Izyumov says. “Major technology firms have already signed long-term nuclear power agreements to secure their energy needs.”

But no investment is risk-free, especially when it comes to mining, which is a difficult business.

“With uranium specifically, you also have policy risk,” says Evan Mills, financial advising analyst at Scholar Financial Advising. “Anything around nuclear tends to be more sensitive, whether that’s regulation or just public perception.”

This fund invests in companies that devote at least half of their assets to uranium mining or exploration, uranium development and production, uranium royalties or other non-mining activities that support the uranium mining industry.

The fund also invests in the Sprott Physical Uranium Trust Fund (OTC: SRUUF), which holds most of its assets as physical uranium oxide.

URNM’s expense ratio is 0.75%.

Global X Lithium & Battery Tech ETF (LIT)

Continuing with the energy transition theme, Mills points to lithium, as its use is tied to electric vehicles and energy storage.

The energy transition is reliant on an increasing number of electric vehicles on the road, and the most common way to power electric vehicles at the moment is with lithium-based batteries.

This fund invests in lithium mining companies but also in companies involved in refinement and battery production. While not a pure play, the ETF is a popular way to invest in lithium miners, having been around since 2010.

Lithium miners are subject to the prices of the metal they produce, and that can fluctuate widely with expectations about electric vehicle demand.

“If that slows down or if something else replaces lithium from a battery standpoint, then that could definitely impact prices,” Mills says.

This fund’s expense ratio is 0.75%.

Switching to precious metals, this fund offers investors a way to get exposure to the price of gold without having to invest in futures or hold physical gold themselves.

This fund doesn’t invest in gold mining companies. Rather, each share represents a certain amount of physical gold that the fund buys and stores in vaults. The fund tends to track the gold price better than mining companies because miners have company-specific expenses and risks that pure bullion doesn’t.

“I see gold as a shock absorber to help balance inflation and recession risk factors,” says Steve Maitland, founder of gold and silver IRA research firm Maitland Wealth. “I would go with SPDR Gold Shares for gold.”

iShares Silver Trust (SLV)

Silver offers investors a precious metal that often follows gold and trades on some of the same characteristics as the yellow metal. But silver is also much more broadly used for industrial applications than gold, with the Silver Institute pointing out that silver is widely used in computers, mobile phones, automobiles and appliances. Silver is also a play on the energy transition, as it is a key material for solar panels.

“Silver kind of sits in between, where it has that hybrid of precious metal and industrial metal exposure,” says Mills.

Tsepaev points out that the silver market has been in a supply deficit for years amid record industrial demand from solar panels, electronics and electric vehicles. That demand is outpacing mine supply, leading to silver being drawn down from inventories, he says.

He points to this fund as a similar play to GLD, in that it invests in physical metal in vaults and doesn’t have exposure to mining company-specific risk.

Other metals that bridge the span between precious and industrial materials are platinum and palladium. They’re used in jewelry and as bullion investments, but both metals are also used in automotive catalytic converters, including in hybrid vehicles.

“While EVs don’t need them and are gaining market share, hybrids aren’t going away anytime soon,” says Vince Stanzione, CEO at First Information, a publisher of educational materials related to financial spread betting and derivatives trading. “A lot of buyers still prefer the flexibility of a hybrid over a full EV. The easiest way to gain exposure is through ETFs.”

If you’re wanting to invest in platinum and palladium in one go, you can consider this fund. It’s also a physically backed investment vehicle, with bullion stored in vaults.

“Platinum and palladium are more speculative metals tied to industrial demand rather than being held purely as an investment like gold, so position accordingly,” Stanzione says.

This fund’s expense ratio is around 1%.

SPDR S&P Metals & Mining ETF (XME)

Investors who want diversification across a broad swath of the metals and mining industry can consider this fund, which provides exposure to aluminum, coal and consumable fuels, copper, diversified metals and mining companies, gold and precious metals, silver and steel.

It’s also diversified across company size, holding small-, mid- and large-cap stocks. That’s important because large caps can provide stability while smaller companies may provide more upside potential.

“If not opting for individual metals, this one offers an alternative on the same industrial fundamentals,” Tsepaev says.

The fund has an expense ratio of 0.35%.