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 mutual funds, all ETFs are traded throughout the day on an exchange.
In May 2025, the top-performing ETFs included equity natural resources funds VanEck Uranium and Nuclear Technologies UCITS ETF NUCL and Global X Uranium UCITS ETF URNU. Data in this article is sourced from Morningstar Direct.
Screening for the Best-Performing ETFs
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 (£18.5 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, six funds fell into the equity technology category, where the average name rose 8.95% in May.
The 10 Best-Performing ETFs for May 2025
- VanEck Uranium and Nuclear Technologies UCITS ETF NUCL
- Global X Uranium UCITS ETF URNU
- VanEck Crypto & Blockchain Innovators UCITS ETF DAPP
- WisdomTree Blockchain UCITS ETF WBLK
- Invesco CoinShares Global Blockchain UCITS ETF BCHN
- Amundi MSCI Semiconductors UCITS ETF CHIP
- HANetf ICAV - Sprott Uranium Miners UCITS ETF URNM
- ARK Artificial Intelligence & Robotics UCITS ETF ARKI
- iShares Blockchain Technology UCITS ETF BLKC
- WisdomTree Europe Defence UCITS ETF EUDF
Metrics for the Best-Performing ETFs
VanEck Uranium and Nuclear Technologies UCITS ETF
The £452 million VanEck Uranium and Nuclear Technologies UCITS ETF was the best-performing ETF in May, with a 28.46% return. The passively managed VanEck ETF beat the 4.90% gain on the average fund in Morningstar’s equity natural resources category for the month. Over the last 12 months, the VanEck Uranium and Nuclear Technologies UCITS ETF has returned 23.25%, dropping less than the 9.72% loss on the average fund in its category, leaving the ETF in the 1st percentile.
The VanEck Uranium and Nuclear Technologies UCITS ETF has a Morningstar Medalist Rating of Bronze. It was launched in February 2023.
Global X Uranium UCITS ETF
- Morningstar Rating: ★★★
- Expense Ratio: 0.70%
- Morningstar Category: Equity Natural Resources
The second-best performing ETF in May was the £191 million Global X Uranium UCITS ETF. The passively managed Global X ETF returned 28.44%, outperforming the average equity natural resources fund, which gained 4.90%. Looking back over the last year, the Global X Uranium UCITS ETF has fallen 1.94%, falling less than the 9.72% loss on the average fund in its category, leaving the ETF in the 14th percentile.
The Neutral-rated Global X Uranium UCITS ETF was launched in April 2022.
VanEck Crypto & Blockchain Innovators UCITS ETF
- Morningstar Rating: ★
- Expense Ratio: 0.65%
- Morningstar Category: Equity Technology
The £317 million VanEck Crypto & Blockchain Innovators UCITS ETF ranked third for the month, returning 23.64%. The VanEck ETF, which is passively managed, topped the 8.95% average return on funds in the equity technology category for May. Over the last 12 months, the VanEck ETF has returned 23.66%, ahead of the 8.49% gain on the average fund in its category, leaving the ETF in the 11th percentile.
The VanEck Crypto & Blockchain Innovators UCITS ETF, launched in April 2021, has a Morningstar Medalist Rating of Bronze.
WisdomTree Blockchain UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.45%
- Morningstar Category: Equity Technology
With a 17.23% return, the £29 million WisdomTree Blockchain UCITS ETF ranked fourth in May. The passively managed WisdomTree ETF outperformed the 8.95% return on the average equity technology fund. Over the last year, the fund has gained 30.54%, ahead of the 8.49% return on funds in its category, placing it in the 6th percentile for the period.
The WisdomTree Blockchain UCITS ETF has not yet been awarded a Morningstar Medalist Rating.
Invesco CoinShares Global Blockchain UCITS ETF
- Morningstar Rating: ★★
- Expense Ratio: 0.65%
- Morningstar Category: Equity Technology
The fifth-best performing ETF was the £505 million Invesco CoinShares Global Blockchain UCITS ETF, which gained 16.94% in May. This passively managed Invesco ETF beat the 8.95% average return on funds in the equity technology category. Over the past 12 months, the Invesco CoinShares Global Blockchain UCITS ETF rose 19.84%, outperforming the 8.49% return on the average fund in its category and placing it in the 16th percentile.
The Invesco CoinShares Global Blockchain UCITS ETF, launched in March 2019, has a Morningstar Medalist Rating of Bronze.
Amundi MSCI Semiconductors UCITS ETF
- Morningstar Rating: ★★★★★
- Expense Ratio: 0.35%
- Morningstar Category: Equity Technology
The £581 million Amundi MSCI Semiconductors UCITS ETF was the sixth-best performing UK ETF in May, with a 15.78% return. The return on the passively managed Amundi ETF topped the 8.95% gain on the average fund in Morningstar’s equity technology category. Looking back over the last year, the Amundi MSCI Semiconductors UCITS ETF has returned 2.83%, underperforming the 8.49% return on the average fund in its category, leaving the ETF in the 62nd percentile.
The Amundi MSCI Semiconductors UCITS ETF has not yet been awarded a Morningstar Medalist Rating.
HANetf ICAV - Sprott Uranium Miners UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.85%
- Morningstar Category: Equity Natural Resources
The seventh-best performing ETF in May was the £147 million HANetf Sprott Uranium Miners UCITS ETF. The passively managed HANetf ETF returned 15.03%, outperforming the average equity natural resources fund, which gained 4.90%. Looking back over the last 12 months, the HANetf Sprott Uranium Miners UCITS ETF has dropped 30.28%, falling further than the 9.72% loss on the average fund in its category, leaving the ETF in the 97th percentile.
The HANetf Sprott Uranium Miners UCITS ETF has a Morningstar Medalist Rating of Bronze. It was launched in May 2022.
ARK Artificial Intelligence & Robotics UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.75%
- Morningstar Category: Equity Technology
The £53 million ARK Artificial Intelligence & Robotics UCITS ETF ranked eighth for the month, returning 14.78%. The ARK ETF, which is actively managed, topped the 8.95% average gain on funds in the equity technology category. Over the last year, the ARK ETF has returned 52.64%, ahead of the 8.49% return on the average fund in its category, leaving it in the 2nd percentile for performance.
The Neutral-rated ARK Artificial Intelligence & Robotics UCITS ETF was launched in April 2024.
iShares Blockchain Technology UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.50%
- Morningstar Category: Equity Technology
With a 14.58% gain, the £116 million iShares Blockchain Technology UCITS ETF ranked ninth in May. The passively managed iShares ETF outperformed the 8.95% return on the average equity technology fund. Over the last 12 months, the fund has returned 6.33%, behind the 8.49% return on funds in its category, placing it in the 53rd percentile.
The iShares Blockchain Technology UCITS ETF, launched in September 2022, has a Morningstar Medalist Rating of Bronze.
WisdomTree Europe Defence UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.40%
- Morningstar Category: Equity Industrial Materials
The tenth-best performing ETF was the £1.8 billion WisdomTree Europe Defence UCITS ETF, which gained 14.49% in May. The passively managed WisdomTree ETF beat the 6.77% average return on funds in the equity industrial materials category. The fund was first launched in March 2025, and as a result, it does not have a one-year track record.
The WisdomTree Europe Defence UCITS ETF has not yet been awarded a Morningstar Medalist Rating.
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.
This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.