Best-Performing ETFs in 2026: 10 Top ETFs by Year-to-Date Returns
The best-performing exchange-traded funds (ETFs) in 2026 have benefited from exceptional moves in tanker freight rates, energy commodities, cryptocurrency and artificial intelligence-related stocks. Some have delivered extraordinary year-to-date gains, but the biggest winners also demonstrate why performance alone is a poor way to select an investment.
This guide examines 10 leading ETFs from the 2026 performance leaderboard, with reported year-to-date returns refreshed through October 9, 2026, the latest completed U.S. trading session as of October 12. Each review explains what the ETF holds, the factors behind its performance, and the principal risks investors should understand before considering it.
Important: the best-performing ETF is not necessarily the best ETF to buy.
The list includes commodity futures, cryptocurrency and narrowly focused technology funds. These products can be highly volatile. The exceptional return reported for a fund such as BWET should not be treated as a reasonable forecast of what it will earn next year. A diversified, low-cost index ETF may be more appropriate as the foundation of a long-term portfolio.
Top 10 Best-Performing ETFs in 2026
The rankings below use ETF.com's published leaderboard, which excludes leveraged, inverse and single-stock ETFs and limits the original screen to funds trading at the start of the year. Returns are refreshed through October 9 and the selected funds are ordered by the latest reported YTD figures.
Data note: ETFIQ total-return figures include reinvested distributions. ZCSH uses Barchart's reported YTD figure. Because provider methodologies can differ, treat small differences across sources as possible. Figures are a dated snapshot, not live intraday returns.
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| Rank | ETF | Ticker | YTD return | Main exposure | Principal risk |
|---|---|---|---|---|---|
| 1 | Breakwave Tanker Shipping ETF | BWET | +5,082.0% | Tanker freight futures | Extreme freight-rate reversal risk |
| 2 | The Zcash ETF | ZCSH | +205.5% | Zcash cryptocurrency | Crypto volatility and concentrated exposure |
| 3 | United States Gasoline Fund | UGA | +137.0% | Gasoline futures | Commodity and futures-market risk |
| 4 | United States Brent Oil Fund | BNO | +126.0% | Brent crude oil futures | Oil-price and roll effects |
| 5 | Invesco DB Energy Fund | DBE | +116.3% | Energy commodity futures | Commodity-cycle risk |
| 6 | United States Oil Fund | USO | +114.3% | WTI crude oil futures | Oil-price and roll effects |
| 7 | Invesco DB Oil Fund | DBO | +97.8% | Crude oil futures | Oil-price and futures-market risk |
| 8 | VistaShares Artificial Intelligence Supercycle ETF | AIS | +95.4% | AI-related equities | Technology concentration and valuation |
| 9 | First Trust Nasdaq Semiconductor ETF | FTXL | +91.9% | Semiconductor stocks | Chip-sector concentration |
| 10 | Invesco Semiconductors ETF | PSI | +89.4% | Semiconductor stocks | Chip-sector and valuation risk |
Main exposure: Tanker freight futures.
Principal risk: Freight rates can reverse quickly when shipping-market conditions normalize.
Main exposure: Zcash cryptocurrency.
Principal risk: Cryptocurrency price volatility, liquidity and regulatory uncertainty.
Main exposure: Gasoline futures.
Principal risk: Commodity-price swings, seasonality and futures-market structure.
Main exposure: Brent crude oil futures.
Principal risk: Oil-price reversals, contract rolls and futures-market structure.
Main exposure: Energy commodity futures.
Principal risk: Commodity-market cycles and futures-roll effects.
Main exposure: WTI crude oil futures.
Principal risk: Oil-price volatility and differences between futures returns and spot oil prices.
Main exposure: Crude oil futures.
Principal risk: Oil-market swings and the cost or benefit of rolling futures contracts.
Main exposure: AI-related equities.
Principal risk: Technology-sector concentration and elevated growth expectations.
Main exposure: Semiconductor stocks.
Principal risk: Semiconductor industry cycles, competition and valuations.
Main exposure: Semiconductor stocks.
Principal risk: Industry concentration, earnings expectations and valuation changes.
Source links provide the underlying fund and return information. Historical returns are date-specific and may vary slightly by provider and calculation method. This is a selected-leaderboard update rather than a guarantee that no other eligible ETF entered the top 10 under a different screening methodology.
Individual ETF Reviews
1. Breakwave Tanker Shipping ETF (BWET)
BWET was the standout performer in the 2026 leaderboard. Rather than owning shipping-company shares or physical oil, the ETF obtains exposure to tanker freight futures, contracts tied to the cost of transporting oil by sea.
ETFIQ reported a year-to-date total return of 5,082.0% through October 9, 2026. ETF.com's October 8 report likewise described a surge of more than 5,000% following an extraordinary increase in tanker freight rates. Disruptions and elevated risks around major oil-shipping routes contributed to the rise in transport costs.
The fund illustrates why an ETF can post a spectacular return without representing a conventional long-term equity investment. Freight rates are sensitive to vessel availability, shipping demand, trade routes, insurance costs and geopolitical developments. A relaxation of these pressures may cause rates—and the ETF—to fall sharply.
Sources: ETFIQ fund profile | ETF.com analysis published October 8, 2026.
2. The Zcash ETF (ZCSH)
ZCSH provides exposure to Zcash, a cryptocurrency designed to support privacy-enhancing transaction features. Zcash has been one of the stronger cryptocurrency exposures in the 2026 ranking.
ETF.com reported that the fund's conversion from a closed-end trust to an ETF in August contributed to its performance by narrowing the previous discount to net asset value. This means the gain should not be attributed exclusively to a rise in the underlying cryptocurrency.
Zcash is still a highly volatile digital asset. Its price can be influenced by cryptocurrency-market sentiment, liquidity, investor interest, regulatory developments and changes in the perceived usefulness of privacy-oriented assets.
Sources: Barchart ZCSH quote | ETF.com explanation of the 2026 ranking.
3. United States Gasoline Fund (UGA)
UGA seeks exposure to gasoline prices primarily through gasoline futures and related instruments. Its return can be affected by crude oil costs, refinery capacity, seasonal driving demand, inventories, distribution constraints and regional supply disruptions.
Gasoline is not identical to crude oil. Refining margins and seasonal changes in demand can make gasoline prices move differently from Brent or West Texas Intermediate crude.
Source: ETFIQ UGA profile and returns through October 9, 2026.
4. United States Brent Oil Fund (BNO)
BNO provides exposure to Brent crude oil using futures contracts. Brent is an important international crude benchmark, and its price reflects global supply and demand, geopolitical developments, shipping conditions and refinery needs.
A rise in oil prices can support BNO, but the fund's return is not necessarily identical to the change in the spot price of Brent. Futures maturity, the shape of the futures curve, contract rolls and expenses all matter.
Source: ETFIQ BNO profile and returns through October 9, 2026.
5. Invesco DB Energy Fund (DBE)
DBE obtains exposure to a basket of energy commodities through futures-based strategies. It differs from an energy-equity ETF, which normally owns shares in businesses engaged in oil and gas production, refining, services or energy infrastructure.
Diversifying across several energy contracts does not remove commodity risk. Oil and related energy markets can still move together in response to changes in supply, geopolitical developments and global demand.
Source: ETFIQ DBE profile and returns through October 9, 2026.
6. United States Oil Fund (USO)
USO provides exposure to West Texas Intermediate (WTI) crude oil through futures and related instruments. It is one of the best-known U.S.-listed oil funds and is often used by investors seeking a more direct, tactical position on oil-market movements.
WTI prices respond to production decisions, inventory reports, demand expectations, transportation capacity and geopolitical events. A change in any of these factors can produce large movements.
Source: ETFIQ USO profile and returns through October 9, 2026.
7. Invesco DB Oil Fund (DBO)
DBO is another futures-oriented oil fund. Although it shares a broad exposure to crude oil with USO and BNO, its return can differ because of the contracts selected, the benchmark methodology and how exposure is maintained over time.
One concept to understand is the futures curve. When later-dated futures are cheaper than nearer-dated contracts, a strategy that rolls into the cheaper contracts may benefit from the structure of the market. When the curve changes, that benefit may shrink or reverse.
Source: ETFIQ DBO profile and returns through October 9, 2026.
8. VistaShares Artificial Intelligence Supercycle ETF (AIS)
AIS offers exposure to companies associated with artificial intelligence. The theme encompasses several parts of the AI value chain, including computing infrastructure, semiconductors, data centers and businesses developing or deploying AI technologies.
Demand for advanced computing capacity can support revenue and earnings expectations for AI-related businesses. But enthusiasm for a technology does not guarantee that every company in the theme will deliver attractive future shareholder returns.
Investors should distinguish between AI adoption, growth in AI-related revenues, business profitability and the valuation already reflected in a company's stock price.
Source: ETFIQ AIS profile and returns through October 9, 2026.
9. First Trust Nasdaq Semiconductor ETF (FTXL)
FTXL invests in semiconductor-related stocks. Chips and related technology are essential to artificial intelligence systems, cloud computing, consumer electronics, automotive applications and industrial equipment.
Semiconductor businesses may benefit when demand improves, customers increase investment or manufacturers report stronger earnings. However, chip markets are cyclical, with periods of shortages, oversupply, intense competition and changing capital expenditure.
FTXL uses a rules-based portfolio approach, so investors should examine the fund's methodology and holdings instead of assuming that every semiconductor ETF provides the same exposure.
Source: ETFIQ FTXL profile and returns through October 9, 2026.
10. Invesco Semiconductors ETF (PSI)
PSI offers rules-based exposure to semiconductor companies. Its portfolio focuses on businesses involved in producing and supplying chips for computing, communications, automotive and other technology applications.
PSI and FTXL have similar broad sector labels but do not have identical holdings or portfolio weights. Differences in selection rules and company allocations can lead to meaningful performance differences over time.
Source: ETFIQ PSI profile and returns through October 9, 2026.
Why These ETFs Have Performed So Well
1. Tanker freight rates and shipping disruption
BWET's extraordinary return reflects a specialized exposure to the cost of transporting oil by sea. Shipping capacity, voyage risks, insurance premiums and the availability of vessels can affect freight rates independently of the direction of crude oil prices.
This is why a fund linked to shipping futures can dramatically outperform conventional oil funds during an unusual freight-market squeeze. It also explains why that performance may not persist if shipping conditions normalize or additional vessel capacity becomes available.
2. Energy prices and futures-market structure
The energy funds in the ranking benefited from strong movements in gasoline and crude oil markets. However, a futures-based fund can earn a different return from the spot price of the commodity it tracks.
The relationship between near-dated and later-dated futures affects the cost or benefit of rolling contracts. In a market structure known as backwardation, later-dated contracts trade below nearer-dated contracts. Rolling exposure can then be beneficial, although actual fund results also depend on price changes, fees and the details of the strategy.
3. Cryptocurrency repricing
Cryptocurrency assets can post very large gains when investor demand changes rapidly. ZCSH also illustrates an additional factor: a fund's structure and its relationship to net asset value can affect the return investors experience.
Cryptocurrency remains speculative and volatile. Regulatory developments, shifts in liquidity, changes in investor sentiment and technology-specific issues can cause sharp declines as well as rallies.
4. AI spending and semiconductor demand
Artificial intelligence applications require computing chips, memory, networking infrastructure, advanced packaging and data-center capacity. These investment needs have helped keep AI-related equities and semiconductor stocks in focus.
Strong demand does not eliminate valuation risk. Market prices may already reflect very optimistic earnings expectations. Technology companies can disappoint even when their industries continue to grow, and semiconductor stocks can be especially sensitive to inventory cycles, competition and capital spending.
Key lesson: A performance leaderboard tells you which assets rose the most during a defined period. It does not tell you which assets offer the best entry price, strongest diversification, most attractive risk-adjusted return or greatest likelihood of meeting your financial goals.
How to Evaluate an ETF Before Investing
Before buying a fund because it appears near the top of a performance table, review the following factors.
- Investment objective and underlying assets. Identify whether the fund owns company shares, bonds, cryptocurrency exposure or commodity derivatives. Similar-looking fund names do not mean the underlying investments behave alike.
- Return period and methodology. Compare YTD, one-year and longer-term performance where available. Check the observation date, distribution treatment and whether the quoted figure is a price return or total return.
- Expense ratio and trading costs. Fund expenses reduce investor returns. Bid-ask spreads, brokerage costs, turnover and the cost of maintaining derivatives exposure may also matter. Consult the current prospectus instead of relying on old fee data.
- Holdings and concentration. Review the top positions, sector allocations and overlap with existing investments. A fund with multiple holdings can still be highly concentrated in one industry or economic theme.
- Liquidity and fund structure. Check assets under management, trading activity, bid-ask spreads and how easily the underlying investments can be traded. These factors can matter particularly for specialist products.
- Risk and intended portfolio role. Ask whether the fund is meant to be a core long-term holding or a small tactical position. Consider how much loss you could tolerate, the time horizon and whether a more diversified alternative better fits your needs.
The SEC's Investor.gov provides an ETF education guide explaining ETF structure, costs and risks. Its investor alert on leveraged and inverse ETFs also explains why specialized products may behave unexpectedly when held for longer periods.
Best-Performing ETFs vs. Best ETFs for Long-Term Investing
Investors searching for the best ETFs to buy often have a different goal from investors seeking the highest historical returns. A performance ranking highlights what has already risen. A long-term portfolio decision should also consider diversification, fees, valuation, income needs, volatility and investment horizon.
Broad-market index funds, such as ETFs tracking the S&P 500 or total U.S. stock market, may be more appropriate foundations for investors seeking diversified U.S. equity exposure. International stock funds can provide exposure to other markets, while bond ETFs may serve different purposes depending on portfolio objectives and risk tolerance.
None of these funds guarantees positive returns, and broad stock and bond markets can also experience losses. The distinction is that diversified funds generally spread exposure more broadly than products tied to an individual commodity, cryptocurrency or narrow industry.
Read our companion guide: Best ETFs to Buy in 2026: 10 Core Funds for Growth, Income and Diversification .
Methodology and Data Sources
The initial selection is based on ETF.com's September 30, 2026 report, Best Performing ETFs of 2026 So Far. Its screen excluded leveraged, inverse and single-stock ETFs and included only funds trading at the start of the year.
The YTD figures in this update were refreshed using fund-level return data through October 9, 2026. ETFIQ's total-return methodology includes reinvested distributions. For ZCSH, the quoted +205.5% figure is Barchart's reported YTD figure, so the precise return methodology may differ slightly from the ETFIQ figures.
Returns are rounded to one decimal place where source data allow. The list is a refreshed version of the selected leaderboard, not a guarantee of the precise rank of every eligible ETF across every data provider and screening method. A different screen, return convention or eligibility rule can change the ranking.
The performance cutoff is October 9, 2026, the latest completed U.S. trading session as of the editorial update date of October 12, 2026. These are historical observations, not live intraday figures or projections.
Before investing, confirm current fund names, holdings, expenses, objectives, risks and trading information through the issuing company and its latest prospectus.
Frequently Asked Questions
1. What was the best-performing ETF in 2026 through October 9?
BWET, the Breakwave Tanker Shipping ETF, led the selected leaderboard, with an ETFIQ-reported year-to-date total return of 5,082.0% through October 9, 2026. Its exceptional gain was linked to tanker freight futures and unusual shipping-market conditions. This is a historical result, not a future-return forecast.
2. Are the best-performing ETFs the best ETFs to buy now?
Not necessarily. A fund may lead a performance table after an unusual market event or a sharp rally in a concentrated sector. Investors should also assess costs, valuation, liquidity, diversification, risks and personal investment objectives.
3. Why can oil ETFs perform differently from crude oil prices?
Futures-based oil ETFs can have returns that differ from spot oil prices because of the futures curve, contract rolls, collateral, operating expenses and tracking differences. A fund that follows futures does not necessarily reproduce the exact change in the physical commodity price.
4. Are semiconductor ETFs suitable for long-term investors?
They may suit investors who understand the sector and can tolerate volatility and concentration risk. Semiconductor ETFs are not substitutes for broad diversification. Review the underlying holdings, valuation exposure, fees and overlap with other funds.
5. What is the difference between a YTD return and a total return?
Year-to-date measures performance from the start of the calendar year through a specified date. Total return generally accounts for price movements plus distributions, assuming reinvestment under the stated method. Check whether each provider uses the same methodology before comparing figures.
6. How often should an ETF ranking be updated?
Rankings can change every trading day. A reliable editorial update should identify its data cutoff, refresh returns and verify the eligibility criteria and fund information. Old figures should not be presented as live performance.
7. Can I lose money investing in a top-performing ETF?
Yes. Historical performance does not prevent future losses. Commodity, cryptocurrency and sector-specific funds can experience severe drawdowns. Investors should understand the fund's strategy and risks and avoid investing money they cannot afford to lose.
Sources and Further Reading
- ETF.com — Best Performing ETFs of 2026 So Far . Published September 30, 2026. Original selection and screening methodology.
- ETF.com — BWET Is Now Up More Than 5,000% This Year . Published October 8, 2026. Background on tanker freight-market performance.
- ETFIQ — BWET, UGA, BNO, DBE, USO, DBO, AIS, FTXL and PSI. Fund-level return data and fund details through October 9, 2026.
- Barchart — ZCSH quote. YTD figure for the Zcash ETF.
- Investor.gov — ETFs. Background on ETF structure, investment costs and risk.
- U.S. Securities and Exchange Commission — Leveraged and Inverse ETFs. Investor guidance on specialized ETF risks.
Disclaimer: This article is for general educational and informational purposes only. It is not personalized investment, legal or tax advice, a recommendation to buy or sell any security, or a forecast of future performance. ETFs can lose value, and investors may lose some or all of their investment. Commodity futures, cryptocurrency and concentrated sector funds can carry substantial risks. Review the latest prospectus, holdings, fees and risk disclosures and consider consulting a qualified financial professional before investing.
Editorial independence: OneDayAdvisor aims to provide accessible, transparent investment education. Historical performance rankings are not endorsements of the listed funds.
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