The top 10 critical minerals ETFs give investors structured, exchange-traded access to the metals driving electric vehicles, energy storage, defence systems, and semiconductor manufacturing. With critical minerals demand projected to more than double by 2040 according to the International Energy Agency, exchange-traded funds have become the primary vehicle for institutional and professional investors seeking diversified exposure without direct commodity or mining equity concentration risk.
How We Ranked the Top 10 Critical Minerals ETFs
This ranking assesses critical minerals ETFs across five criteria: assets under management (AUM) as a proxy for institutional confidence and liquidity; mineral coverage breadth, weighted toward battery metals, technology metals, and rare earths; expense ratio as a cost drag on long-term returns; primary market listing and accessibility for professional investors; and structural type — equity versus futures — which determines how closely the fund tracks underlying commodity prices versus mining company profitability.
Uranium-only funds are excluded on scope grounds: uranium is a fuel, not a critical mineral in the industrial supply chain sense, despite appearing on several government critical minerals lists. Funds with primary exposure to gold, silver, or bulk commodities (iron ore, thermal coal) are also excluded. All AUM figures are approximate as of Q1 2026.
1. VanEck Rare Earth/Strategic Metals ETF (REMX)
REMX is the most widely held pure-play fund in the critical minerals ETF space, with approximately $580 million in AUM. The fund tracks the MVIS Global Rare Earth/Strategic Metals Index, giving investors equity exposure to companies involved in producing, refining, and recycling rare earth elements and strategic metals including lithium, cobalt, nickel, and tantalum. Key holdings include Albemarle Corporation, Pilbara Minerals, and China Northern Rare Earth Group. The fund’s heavy processing and refining weighting — not just miners — distinguishes it from broader mining ETFs. Expense ratio: 0.54%. Listed: NYSE Arca (US).
Key risk: Significant China exposure through refining-stage holdings; sensitive to MOFCOM export control announcements.
2. Sprott Critical Materials ETF (SETM)
SETM tracks the Sprott Critical Materials Index, a broad-basket equity fund covering uranium, copper, lithium, rare earths, cobalt, nickel, and graphite under a single ticker. AUM stands at approximately $320 million. The fund’s multi-commodity structure makes it one of the more genuinely diversified critical minerals ETFs available to professional investors who want transition-metals coverage without managing multiple positions. Sprott’s index methodology excludes companies deriving more than 50% of revenue from commodities outside the critical minerals basket, maintaining thematic discipline. Expense ratio: 0.65%. Listed: NYSE Arca (US).
Key risk: Uranium weighting introduces nuclear policy sensitivity not present in other critical minerals ETFs.
3. Global X Lithium & Battery Tech ETF (LIT)
LIT tracks the Solactive Global Lithium Index, covering the full lithium value chain from hard-rock and brine mining through carbonate and hydroxide refining to battery cell production. AUM approximately $1.2 billion, making it the largest single-mineral critical minerals ETF by assets. Holdings include Albemarle, SQM, Tianqi Lithium, and Panasonic. The fund’s breadth — incorporating battery manufacturers alongside miners — introduces downstream correlation to EV demand cycles rather than pure lithium price movements. Expense ratio: 0.75%. Listed: NYSE Arca (US).
Key risk: Lithium carbonate prices fell sharply in 2023–2024; recovery in battery-grade demand is the primary re-rating catalyst.
4. Global X Uranium ETF (URA)
URA is included here on the basis that uranium appears on the US, UK, EU, and Australian critical minerals lists, and institutional demand for nuclear exposure within critical minerals mandates has grown significantly since 2023. AUM approximately $3.1 billion. The fund tracks the Solactive Global Uranium & Nuclear Components Index, covering miners and nuclear component manufacturers. Cameco Corporation and NexGen Energy are among the largest holdings. For investors whose mandates follow government critical minerals definitions rather than the battery metals supply chain specifically, URA represents the highest-liquidity option in the sector. Expense ratio: 0.69%. Listed: NYSE Arca (US).
Key risk: Nuclear policy risk; fund performance disconnected from battery supply chain dynamics.
5. iShares MSCI Global Metals & Mining Producers ETF (PICK)
PICK tracks the MSCI ACWI Select Metals & Mining Producers ex Gold & Silver Investable Market Index, providing equity exposure to major diversified miners including BHP Group, Rio Tinto, Freeport-McMoRan, and Glencore. AUM approximately $1.7 billion. The fund captures copper and nickel exposure through the world’s largest mining companies, making it a practical vehicle for investors who want critical minerals coverage embedded within large-cap equity positions with high daily liquidity. It is less thematically focused than REMX or SETM but offers lower volatility and tighter bid-ask spreads. Expense ratio: 0.39%. Listed: NYSE Arca (US).
Key risk: Bulk commodities — iron ore, zinc — dilute critical minerals exposure; BHP and Rio Tinto revenue is not primarily critical minerals.
6. Amplify Lithium & Battery Technology ETF (BATT)
BATT tracks a multi-sector index blending lithium and cobalt mining equities with battery technology developers and EV manufacturers. AUM approximately $170 million. The fund’s inclusion of technology companies alongside miners means it offers a different risk profile to pure mining equity funds — more correlated to EV adoption rates and battery technology commercialisation than to commodity spot prices directly. Holdings span Panasonic, Samsung SDI, Lithium Americas, and Livent. Expense ratio: 0.59%. Listed: NYSE Arca (US).
Key risk: EV demand sensitivity; technology holdings can underperform in risk-off environments regardless of mineral price movements.
7. Sprott Copper Miners ETF (COPP)
COPP is a pure-play equity fund targeting copper extraction companies, constructed to capture demand from electrical grid expansion, EV charging infrastructure, and renewable energy installations. Copper is confirmed on every major government critical minerals list, and COPP offers the most direct equity exposure to copper miners available in an ETF structure. AUM approximately $140 million. Key holdings include Freeport-McMoRan, Ivanhoe Mines, and Antofagasta. The copper price outlook is structurally positive through 2030 on grid investment alone. Expense ratio: 0.65%. Listed: NYSE Arca (US).
Key risk: Single-commodity concentration; copper price cycles can be abrupt around Chinese demand signals.
8. Kraneshares Electric Vehicles and Future Mobility ETF — Metals Basket (KMET)
KMET provides equity exposure to companies producing the metals essential for EV manufacturing: nickel, lithium, cobalt, and rare earth elements. AUM approximately $25 million, making it one of the smaller funds on this list, though its mineral-specific construction makes it analytically interesting for investors building targeted EV supply chain positions. Holdings include Lynas Rare Earths, Ganfeng Lithium, and Vale. The fund’s explicit EV supply chain mandate separates it from broader mining equity funds. Expense ratio: 0.79%. Listed: NYSE Arca (US).
Key risk: Low AUM creates liquidity risk; wide bid-ask spreads possible in volatile sessions.
9. SPDR S&P Metals & Mining ETF (XME)
XME tracks the S&P Metals & Mining Select Industry Index on an equal-weighted basis across US-listed metals and mining companies. AUM approximately $2.1 billion. The equal-weighting methodology gives meaningful exposure to smaller critical minerals producers that would be marginal weights in market-cap-weighted alternatives. Steel and aluminium companies dominate the index alongside copper, nickel, and coal miners. XME is less thematically focused than pure critical minerals ETFs but offers high liquidity and established institutional trading infrastructure. Expense ratio: 0.35%. Listed: NYSE Arca (US).
Key risk: US-only equity universe excludes major global critical minerals producers in Australia, Chile, and the DRC.
10. Invesco DB Base Metals Fund (DBB)
DBB is the sole futures-based fund on this list, tracking liquid futures contracts for aluminium, zinc, and copper rather than mining equities. AUM approximately $290 million. For professional investors who want direct price exposure to base metals — including copper, which is on every major critical minerals list — without company-specific operational risk, DBB provides a structurally different product to equity ETFs. Returns track spot metal price movements more closely than equity funds, though futures roll costs introduce a drag in contango markets. Expense ratio: 0.75%. Listed: NYSE Arca (US).
Key risk: Futures roll costs; aluminium and zinc exposure dilutes critical minerals thematic purity.
Summary Comparison: Top 10 Critical Minerals ETFs 2026
| ETF | Ticker | AUM (approx.) | Primary Minerals | Structure | Expense Ratio |
|---|---|---|---|---|---|
| VanEck Rare Earth/Strategic Metals | REMX | $580m | Rare earths, Li, Co, Ni | Equity | 0.54% |
| Sprott Critical Materials | SETM | $320m | Diversified basket | Equity | 0.65% |
| Global X Lithium & Battery Tech | LIT | $1.2bn | Lithium, Co, Ni | Equity | 0.75% |
| Global X Uranium | URA | $3.1bn | Uranium | Equity | 0.69% |
| iShares Global Metals & Mining | PICK | $1.7bn | Cu, Ni, diversified | Equity | 0.39% |
| Amplify Lithium & Battery Tech | BATT | $170m | Li, Co, battery tech | Equity | 0.59% |
| Sprott Copper Miners | COPP | $140m | Copper | Equity | 0.65% |
| Kraneshares EV Metals | KMET | $25m | Ni, Li, Co, REEs | Equity | 0.79% |
| SPDR S&P Metals & Mining | XME | $2.1bn | Cu, Ni, steel, Al | Equity | 0.35% |
| Invesco DB Base Metals | DBB | $290m | Cu, Al, Zn | Futures | 0.75% |
The Outlook for Critical Minerals ETFs in 2026
The structural investment case for critical minerals ETFs in 2026 rests on three converging drivers: accelerating government procurement through the US Inflation Reduction Act and EU Critical Raw Materials Act, a deepening supply deficit in battery-grade lithium and cobalt as mine development timelines extend, and sustained defence spending growth driving demand for rare earths and technology metals outside the EV supply chain. The primary headwind is China’s dominant refining position across multiple minerals — a risk that is increasingly priced into pure-play funds such as REMX, but which remains a structural feature of the market rather than a solvable near-term problem. Investors adding critical minerals ETFs to portfolios in 2026 should weigh geographic concentration carefully, particularly the distinction between funds with mining-stage exposure in diversified geographies and those with refining-stage exposure concentrated in China. For a broader view of mining investment flows into this sector, see our analysis of the 2026 mining supercycle and the capital allocations driving it.
Further data on the underlying minerals covered by these funds is available from the IEA Critical Minerals unit, which publishes annual supply and demand projections by mineral and end-use sector.
What are the best critical minerals ETFs for UK and European investors?
Most of the leading critical minerals ETFs — including REMX, SETM, LIT, and URA — are US-listed on NYSE Arca and not directly UCITS-compliant. UK and European professional investors typically access these through equivalent UCITS products from the same issuers (VanEck Europe, for example, offers REMX-equivalent exposure under a European-domiciled structure) or through platforms that provide access to US-listed ETFs under MiFID professional investor classification.
What is the difference between equity and futures-based critical minerals ETFs?
Equity ETFs — the majority on this list — hold shares in mining and processing companies, so returns are linked to corporate profitability, management quality, and production costs as well as metal prices. Futures-based ETFs like DBB track the underlying commodity price more directly but incur roll costs when futures contracts expire and are replaced, which can drag returns in contango markets.
Is uranium included in critical minerals ETFs?
Uranium appears on the US, UK, EU, and Australian government critical minerals lists, and funds such as URA and SETM include uranium exposure. However, uranium is a nuclear fuel rather than an industrial mineral in the battery and technology metals sense, and several thematic critical minerals funds exclude it on scope grounds. Investors should check individual fund methodologies.
Which critical minerals ETF has the lowest fees?
SPDR’s XME has the lowest expense ratio on this list at 0.35%, followed by iShares PICK at 0.39% and VanEck REMX at 0.54%. However, lower fees alone do not determine suitability — XME’s US-only universe and steel weighting make it a different product to pure critical minerals ETFs with global exposure.
How do China export controls affect critical minerals ETF performance?
China controls the refining stage for a majority of rare earths, gallium, germanium, graphite, and several battery metals. Export licensing restrictions — which have been applied to gallium, germanium, and graphite anodes since 2023 — create price spikes in the underlying minerals that benefit mining-stage equity holdings in non-Chinese producers while disadvantaging funds with heavy Chinese refining-company allocations. REMX and SETM have the most direct exposure to this dynamic.
