The best performing etfs in 2024

The S&P 500 index of the largest U.S. stocks has tacked on more than 23% so far this year, and the general expectation is for momentum to remain strong as we enter 2025 thanks to what some see as a pro-business environment in Washington next year.
However, that impressive return for the broader stock market has been topped by a number of more strategic funds this year thanks to a focus on what’s working and an avoidance of what’s not. The best-performing ETFs of 2024 are admittedly less diversified than the full list of S&P 500 components, but it’s that focus that allows for outsized returns.
The following list of ETFs represent the top 10 funds that do not take a “leveraged” approach via complicated derivative instruments, and that have a minimum of $150 million in assets to show they are legitimate and reasonably liquid funds.
There’s risk in each of these funds, to be sure, but their 2024 performance, along with these qualitative metrics, make them worth watching as some of the hottest ETFs on Wall Street right now:

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Global X MLP & Energy Infrastructure ETF (MLPX)

Expense ratio: 0.45%, or $45 annually on $10,000 invested
Assets under management (AUM): $2.2 billion
YTD performance: +40.5%
Among the best-performing ETFs of the last year is this MLP-focused fund from Global X, which holds just under 30 energy infrastructure stocks including Williams Cos. Inc. (WMB), Oneok Inc. (OKE) and Enbridge Inc. (ENB). This piece of the energy sector is always attractive thanks to reliable operations and high yields, but the fact that President-elect Donald Trump seems likely to be even more friendly to the domestic energy industry has lifted stocks in this area even further in recent weeks. Time will tell if this short-term trend lasts into the new year, but across 2024 MLPX and similar funds have done quite well.
Note: The USCF Midstream Energy Income Fund ETF (UMI) has produced similar performance in 2024.

CoinShares Valkyrie Bitcoin Miners ETF (WGMI)

Expense ratio: 0.75%
AUM: $220 million
YTD performance: +42%
Bitcoin has delivered roughly five times the profits that the broader S&P 500 index has thus far in 2024. So it’s no surprise that one of the best-performing ETFs of the year is a fund that holds Bitcoin mining companies such as Core Scientific Inc. (CORZ), Iris Energy Ltd. (IREN) and others. Exposure via a for-profit company that owns infrastructure to create a digital asset instead of a direct investment in the asset itself naturally will not be as direct. However, WGMI has handily outpaced both the market-wide average for stocks as well as a host of leading tech stocks this year.

Virtus Reaves Utilities ETF (UTES)

Expense ratio: 0.49%
AUM: $245 million
YTD performance: +51.1%
Utility stocks typically don’t rank as top performers on Wall Street given their lower volatility profile and relatively sleepy operations. What’s more, in a “risk-on” market environment like we’ve seen in 2024 it makes even less sense for utility stocks to stand out. However, the prospect of booming electricity demand for next-gen technologies like artificial intelligence coupled with some big direct deals with tech leaders has sparked a rally for a number of once-boring utilities.
That’s what’s driving UTES, particularly thanks to a portfolio reliant on two particular standouts – Constellation Energy Corp. (CEG) and Vistra Corp. (VST) – which are up more than 90% and 200%, respectively, since Jan. 1. With less than 20 total utility stocks in its portfolio, this smaller sector fund has outpaced its peers to go down as one of the top-performing ETFs of the year.

Roundhill Magnificent Seven ETF (MAGS)

Expense ratio: 0.29%
AUM: $1.0 billion
YTD returns: +52.7%
While index funds are popular for spreading money around in a cost-effective way, the top performers on this list tend to be less about diversification and more about a focused bet on a one-dimensional theme. MAGS splits the difference in a way, by investing in a few different stocks with their own operational benefits – but via a very limited portfolio of the so-called Magnificent Seven tech leaders – Nvidia Corp. (NVDA), Google parent Alphabet Inc. (GOOGL), Apple Inc. (AAPL), Tesla Inc. (TSLA), Amazon.com Inc. (AMZN), Meta Platforms Inc. (META) and Microsoft Corp. (MSFT). For tech investors who like the sector but want only the best of the best, MAGS is a unique option that ranks among the best-performing ETFs of 2024.

Global X MSCI Argentina ETF (ARGT)

Expense ratio: 0.59%
AUM: $595 million
YTD performance: +58.4%
Admittedly, Argentina is a poster child for economic dysfunction. But lately the picture has been looking less bleak. While the inflation rate has declined, it’s still running pretty hot at roughly 190%. On the brighter side, the World Bank forecasted a 5% growth rate for the nation in 2025, after an expected 3.5% contraction in 2024. There is still a lot of risk here, but ARGT remains the best and perhaps only way to get broad access to Argentina-focused stocks in a single ETF. Top holdings at present include Argentinian bank Grupo Financiero Galicia SA ADR (GGAL) and Latin America’s e-commerce leader MercadoLibre Inc. (MELI), among others.