4 Best Metals ETFs for 2026 and How to Invest
The State Street SPDR S&P Metals & Mining ETF seeks to provide investors with exposure to metals and mining stocks by tracking the S&P Metals and Mining Select Industry Index. It holds shares of mining companies in the following subsectors of the metals and mining sector: aluminum, coal and consumable fuels, copper, diversified metals and mining, gold, precious metals and minerals, silver, and steel. The ETF had nearly $4.3 billion in assets under management (AUM) across 39 holdings in July 2026, led by the following five:
- Uranium Energy (UEC +2.08%): 4.8% of the fund’s holdings
- Hecla Mining (HL +4.75%): 4.8%
- Centrus Energy (NYSE:LUE): 4.7%
- Coeur Mining (CDE +4.59%): 4.6%
- MP Materials (MP -1.79%): 4.4%
The ETF uses an equal-weight strategy, providing investors with targeted exposure to the entire U.S. metals and mining sector, including precious metals. It has the following allocation to metals:
- Steel: 27.0%
- Gold: 19.1%
- Diversified metals and mining: 18.2%
- Coal and consumable fuels: 17.5%
- Aluminum: 9.0%
- Silver: 5.0%
- Copper: 4.2%
It charges a relatively low ETF expense ratio of 0.35%. The ETF is ideal for people seeking an investment focused on the U.S. metals sector. The ETF can also provide some income, with a 0.4% distribution yield.