## [# The Best Performing ETFs of 2026](/sections/features/best-performing-etfs-2026)
# The Best Performing ETFs of 2026
One group dominated in the first quarter of the year.
[](/authors/sumit-roy)
[By Sumit Roy ](/authors/sumit-roy)
Mar 31, 2026
Edited by: ETF.com Staff
[ + Follow ](/etf/login)
Share Email LinkedIn Facebook X (Twitter)
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-article_page_302x26');
});
Loading
With the first quarter in the books, it's time to look at the best-performing ETFs of 2026 so far.
The quarter was all about energy. Nearly every fund at the top of the leaderboard is tied, in some form, to the same energy trade.
Oil prices surged during the quarter amid the Iran war and the effective closure of the Strait of Hormuz. Brent crude climbed from $60.85 per barrel at the start of the year to nearly $118.35 by the end of March, almost doubling in just three months.
That move was a tailwind for some ETFs, and a drag for many others.
For context, broad equity markets struggled. The [**Vanguard Total Stock Market ETF (VTI)**](/vti) fell 4% during the quarter, while the [**Vanguard S&P 500 ETF (VOO)**](/voo) dropped 4.4%.
The following data captures year-to-date returns for U.S.-listed ETFs through March 31, excluding leveraged and inverse products.
## Tanker Shipping Tops the Charts
At the top of the ETF leaderboard was the [**Breakwave Tanker Shipping ETF (BWET)**](/bwet), which surged an astonishing 411%.
The fund holds tanker freight futures, which track the cost of shipping crude oil by sea. With the Strait of Hormuz effectively shut down, buyers have scrambled to secure supply from alternative sources. Longer shipping routes and tighter vessel capacity have driven freight rates sharply higher, which in turn has fueled BWET's outsized gains.
The [**SonicShares Global Shipping ETF (BOAT)**](/boat), which holds shipping equities rather than futures, also benefited from the disruption, gaining about 30%.
googletag.cmd.push(function() {
googletag.display('js-dfp-tag-in_article_unit');
});
## Crude Oil Futures Funds Surge
Next on the list are more straightforward oil plays. The [**United States Oil Fund (USO)**](/uo) gained 84%, while the [**United States Brent Oil Fund (BNO)**](/bno) rose 83.7%, both closely tracking the run-up in crude prices.
A range of other energy futures ETFs also posted strong returns. The [**Invesco DB Energy Fund (DBE)**](/dbe) gained 68.7%, the [**United States Gasoline Fund (UGA)**](/uga) rose 67.4%, and the [**Invesco DB Oil Fund (DBO)**](/dbo) climbed 61.2%. The [**ProShares K-1 Free Crude Oil ETF (OILK)**](/oilk) and the [**United States 12 Month Oil Fund (USL)**](/usl) each gained roughly 45%.
Broader commodity index funds with heavy energy weightings were pulled higher as well. The [**iShares S&P GSCI Commodity-Indexed Trust (GSG)**](/gsg) gained about 40%, and the [**Invesco DB Commodity Index Tracking Fund (DBC)**](/dbc) rose 29.5%.
## Energy Stocks Soar
Energy equities have had a strong run of their own.
The [**SPDR S&P Oil & Gas Exploration & Production ETF (XOP)**](/xop) gained 44.6% through the end of the quarter. The [**Texas Capital Texas Oil Index ETF (OILT)**](/oilt) was right behind it at 44.4%.
Oil services funds also performed well. The [**SPDR S&P Oil & Gas Equipment & Services ETF (XES)**](/xes) rose 42.3%, while the [**VanEck Oil Services ETF (OIH)**](/oih) and the [**Invesco Oil & Gas Services ETF (PXJ)**](/pxj) each gained about 42%.
Broad energy sector funds posted gains in the high 30s. The [**Energy Select Sector SPDR Fund (XLE)**](/xle) rose 37.9%, with the [**Vanguard Energy ETF (VDE)**](/vde), the [**Fidelity MSCI Energy Index ETF (FENY)**](/feny), and the [**iShares U.S. Energy ETF (IYE)**](/iye) all clustered in a tight range around 37%–38%.
Even indirect energy exposure has paid off. The [**Global X MSCI Norway ETF (NORW)**](/norw), a country ETF with significant oil sector weighting, rose 27.2%.
## Beyond Energy
Outside of energy, only a handful of funds cracked the top 50.
The [**iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX)**](/vxx) gained 34.9% and the [**ProShares VIX Short-Term Futures ETF (VIXY)**](/vixy) rose 34%, benefiting from the spike in market uncertainty during the broader equity selloff. They ranked No. 34 and No. 35 on the list, respectively.
The other standout was the [**iShares MSCI South Korea ETF (EWY)**](/ewy), which gained 26.5%. That rally was driven by a surge in memory chip stocks, particularly SK Hynix and Samsung, as booming demand for AI infrastructure continued to push high-bandwidth memory prices higher.
South Korea's outsized exposure to the semiconductor supply chain made EWY one of the few non-energy funds to ride a completely different tailwind into the top 50.
For a full list of the top-performing ETFs of the year, see the table below.
**Fund Name****Ticker****YTD Return**Breakwave Tanker Shipping ETFBWET411.35United States Oil Fund LPUSO 83.99United States Brent Oil Fund LPBNO 83.65Invesco DB Energy FundDBE 68.74United States Gasoline Fund LPUGA 67.41Invesco DB Oil FundDBO 61.23WEBs Energy XLE Defined Volatility ETFDVXE 57.57ProShares K-1 Free Crude Oil ETFOILK 46.10United States 12 Month Oil Fund LPUSL 44.67State Street SPDR S&P Oil & Gas Exploration & Production ETFXOP44.60Texas Capital Texas Oil Index ETFOILT44.36Invesco S&P SmallCap Energy ETFPSCE42.67State Street SPDR S&P Oil & Gas Equipment & Services ETFXES42.32VanEck Oil Services ETFOIH 41.94Invesco Oil & Gas Services ETFPXJ 41.91Invesco Energy Exploration & Production ETFPXE 40.64iShares U.S. Oil & Gas Exploration & Production ETFIEO 40.58iShares S&P GSCI Commodity-Indexed TrustGSG 39.85Strive US Energy ETFDRLL 39.09iShares U.S. Oil Equipment & Services ETFIEZ 39.04First Trust Nasdaq Oil & Gas ETFFTXN 38.73Invesco S&P 500 Equal Weight Energy ETFRSPG38.21Vanguard Energy ETFVDE 38.19Fidelity MSCI Energy Index ETFFENY US equity38.13State Street Energy Select Sector SPDR ETFXLE 37.90iShares Global Energy ETFIXC 37.40Global X PureCap MSCI Energy ETFGXPE 37.29VanEck Commodity Strategy ETFPIT 37.04iShares U.S. Energy ETFIYE 36.95First Trust Energy AlphaDEX FundFXN 36.87First Trust Natural Gas ETFFCG 35.98Amplify Energy & Natural Resources Covered Call ETFNDIV US equity35.86iShares GSCI Commodity Dynamic Roll Strategy ETFCOMT 35.81iPath Series B S&P 500 VIX Short-Term Futures ETNVXX 34.87ProShares VIX Short-Term Futures ETFVIXY 33.97VanEck Oil Refiners ETFCRAK 31.71Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Energy Momentum ETFPXI 31.56Global X US Natural Gas ETFLNGX 30.75Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETFPDBC 30.72Sonicshares Global Shipping ETFBOAT 29.89Invesco DB Commodity Index Tracking FundDBC 29.47YieldMax Xom Option Income Strategy ETFXOMO 29.00iShares MSCI Norway ETFENOR 28.39The Shell plc ADRhedgedSHEH 28.24iPath Bloomberg Commodity Index Total Return ETNDJP 28.00UBS AG ETRACS Crude Oil Shares Covered Call ETNUSOI 27.92Global X MSCI Norway ETFNORW 27.18iShares MSCI South Korea ETFEWY 26.52iShares North American Natural Resources ETFIGE25.87Neuberger Energy Transition & Infrastructure ETFNBET 25.53
[ + Follow ](/etf/login)
[ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy)
Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including… [View Bio](/authors/sumit-roy)
Related Topics [Equity](http://www.etf.com/topics/equity)
[Energy](http://www.etf.com/topics/energy)
[Oil & Gas](http://www.etf.com/topics/oil-gas)
[Oil](http://www.etf.com/topics/oil)