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 funds, all ETFs are traded throughout the day on an exchange.
In April 2024, the top-performing ETFs included Turkey equity funds Amundi MSCI Turkey UCITS ETF (TUR) and iShares MSCI Turkey UCITS ETF (IDTK). Data in this article is sourced from Morningstar Direct.
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, two funds fell into the Turkey equity category, where the average fund rose 15.94% in April.
The 10 Best-Performing ETFs for April 2024
1. Amundi MSCI Turkey UCITS ETF (TUR)
2. iShares MSCI Turkey UCITS ETF (IDTK)
3. Global X Silver Miners UCITS ETF (SILV)
4. Global X Copper Miners UCITS ETF (COPX)
5. iShares Copper Miners UCITS ETF (COPM)
6. Market Access NYSE Arca Gold BUSIndex UCITS ETF (M9SD)
7. Invesco STOXX Europe 600 Optimised Basic Resources UCITS ETF (SC0W)
8. iShares STOXX Europe 600 Basic Resources UCITS ETF (DE) (EXV6)
9. Xtrackers FTSE China 50 UCITS ETF (XX2D)
10. iShares China Large Cap UCITS ETF (FXC)
Metrics for the Best-Performing ETFs
Amundi MSCI Turkey UCITS ETF
• Morningstar Rating: ★★
• Ongoing Charge: 0.45%
• Morningstar Category: Turkey Equity
The £57 million Amundi MSCI Turkey UCITS ETF was the best-performing ETF in April, with a 15.45% return. The passively managed Amundi ETF performed roughly in line with the 15.94% gain on the average fund in Morningstar’s Turkey equity category for the month. Over the last 12 months, the Amundi MSCI Turkey UCITS ETF has returned 46.21%, underperforming the 48.61% gain on the average fund in its category, leaving the ETF in the 50th percentile.
The Amundi MSCI Turkey UCITS ETF has a Morningstar Medalist Rating of Neutral. It was launched in March 2019.
iShares MSCI Turkey UCITS ETF
• Morningstar Rating: ★
• Ongoing Charge: 0.74%
• Morningstar Category: Turkey Equity
The second-best-performing ETF in April was the £93 million iShares MSCI Turkey UCITS ETF. The passively managed iShares ETF returned 15.20%, roughly in line with the average Turkey equity fund, which gained 15.94%. Looking back over the last 12 months, the iShares MSCI Turkey UCITS ETF has returned 43.14%, underperforming the 48.61% return on the average fund in its category, leaving the ETF in the 75th percentile.
The iShares MSCI Turkey 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.
Global X Silver Miners UCITS ETF
• Morningstar Rating: N/A
• Ongoing Charge: 0.70%
• Morningstar Category: Equity Precious Metals
The £53 million Global X Silver Miners UCITS ETF ranked third for the month, returning 12.75%. The Global X ETF, which is passively managed, topped the 9.79% average return on funds in the equity precious metals category for April. Over the last 12 months, the Global X ETF has returned 2.48%, roughly in line with the 3.29% gain on the average fund in its category, leaving the ETF in the 54th percentile.
The Global X Silver Miners UCITS ETF, launched in May 2022, has a Morningstar Medalist Rating of Negative.
Global X Copper Miners UCITS ETF
• Morningstar Rating: N/A
• Ongoing Charge: 0.70%
• Morningstar Category: Equity Natural Resources
With a 10.97% return, the £113 million Global X Copper Miners UCITS ETF ranked fourth in April. The passively managed Global X ETF outperformed the 5.11% return on the average equity natural resources fund. Over the last 12 months, the fund has gained 20.77%, ahead of the 6.77% return on funds in its category, placing it in the 8th percentile for the period.
The Global X Copper Miners UCITS ETF has a Silver Morningstar Medalist Rating. It was launched in November 2021.
iShares Copper Miners UCITS ETF
• Morningstar Rating: N/A
• Ongoing Charge: 0.55%
• Morningstar Category: Equity Natural Resources
The fifth-best-performing ETF was the £22 million iShares Copper Miners UCITS ETF, which gained 10.58% in April. This passively managed iShares ETF beat the 5.11% average return on funds in the equity natural resources category. The fund was first launched in June 2023, and as a result, it does not have a one-year track record.
The iShares Copper Miners UCITS ETF has a Morningstar Medalist Rating of Gold.
Market Access NYSE Arca Gold BUSIndex UCITS ETF
• Morningstar Rating: ★★
• Ongoing Charge: 0.65%
• Morningstar Category: Equity Precious Metals
The £55 million Market Access NYSE Arca Gold BUSIndex UCITS ETF was the sixth-best-performing UK ETF in April, with a 10.36% return. The return on the passively managed China Post Global ETF was roughly in line with the 9.79% gain on the average fund in Morningstar’s equity precious metals category. Looking back over the last 12 months, the Market Access NYSE Arca Gold BUSIndex UCITS ETF has returned 4.76%, outperforming the 3.29% return on the average fund in its category, leaving the ETF in the 40th percentile.
The Silver-rated Market Access NYSE Arca Gold BUSIndex UCITS ETF was launched in January 2007.
Invesco STOXX Europe 600 Optimised Basic Resources UCITS ETF
• Morningstar Rating: ★
• Ongoing Charge: 0.20%
• Morningstar Category: Equity Industrial Materials
The seventh-best-performing ETF in April was the £38 million Invesco STOXX Europe 600 Optimised Basic Resources UCITS ETF. The passively managed Invesco ETF returned 10.16%, outperforming the average equity industrial materials fund, which lost 1.15%. Looking back over the last 12 months, the Invesco STOXX Europe 600 Optimised Basic Resources UCITS ETF has returned 9.42%, underperforming the 13.32% return on the average fund in its category, leaving the ETF in the 78th percentile.
The Invesco STOXX Europe 600 Optimised Basic Resources UCITS ETF has a Morningstar Medalist Rating of Neutral. It was launched in July 2009.
iShares STOXX Europe 600 Basic Resources UCITS ETF (DE)
• Morningstar Rating: ★
• Ongoing Charge: 0.46%
• Morningstar Category: Equity Industrial Materials
The £425 million iShares STOXX Europe 600 Basic Resources UCITS ETF (DE) ranked eighth for the month, returning 9.80%. The iShares ETF, which is passively managed, topped the 1.15% average loss on funds in the equity industrial materials category. Over the last 12 months, the iShares ETF has returned 9.57%, behind the 13.32% return on the average fund in its category, leaving it in the 75th percentile for performance.
The Bronze-rated iShares STOXX Europe 600 Basic Resources UCITS ETF (DE) was launched in July 2002.
Xtrackers FTSE China 50 UCITS ETF
• Morningstar Rating: ★★
• Ongoing Charge: 0.60%
• Morningstar Category: China Equity
With a 9.01% gain, the £116 million Xtrackers FTSE China 50 UCITS ETF ranked ninth in April. The passively managed Xtrackers ETF outperformed the 6.13% return on the average China equity fund. Over the last 12 months, the fund has dropped 4.15%, declining less than the 10.44% loss on funds in its category, placing it in the 14th percentile.
The Xtrackers FTSE China 50 UCITS ETF, launched in June 2007, has a Morningstar Medalist Rating of Negative.
iShares China Large Cap UCITS ETF
• Morningstar Rating: ★★
• Ongoing Charge: 0.74%
• Morningstar Category: China Equity
The tenth-best performing ETF was the £489 million iShares China Large Cap UCITS ETF, which gained 8.99% in April. The passively managed iShares ETF beat the 6.13% average return on funds in the China equity category. Over the past year, the iShares China Large Cap UCITS ETF fell 4.29%, declining less than the 10.44% loss on the average fund in its category and placing it in the 15th percentile.
The iShares China Large Cap UCITS ETF has a Morningstar Medalist Rating of Negative. It was launched in October 2004.
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.
As part of our mission to put more information into the hands of investors, this article was compiled from Morningstar’s data and independent research using automation technology. The original article was written by Morningstar reporters and editors. This updated version was reviewed by an editor.
