2 Best Mining ETFs in Canada (June 2026)
The best mining ETFs in Canada include BASE.TO (~0.20% MER) and XGD.TO (~0.61%). These ETFs provide exposure to global mining companies and commodity producers, offering strong upside during commodity cycles, but with high volatility and concentration risk, making them best suited as a satellite position.
Mining ETFs are designed for Canadian investors seeking exposure to commodity-producing companies, including gold, base metals, and diversified mining firms. ETFs like BASE.TO and XGD.TO provide access to companies involved in extracting and producing essential raw materials.
The key advantage of mining ETFs is their leverage to commodity prices — when metals like gold or copper rise, mining stocks can outperform. However, these ETFs are highly volatile and influenced by global demand, commodity cycles, and geopolitical factors.
In this guide, we break down the best mining ETFs in Canada, comparing diversification, commodity exposure, and risk so you can decide how they fit into your TFSA, RRSP, or growth-focused portfolio.
At a Glance: Quick Comparison
Side-by-side snapshot of fees, yield, and returns. Data updates daily.
| ETF | MER | AUM | Yield | YTD | 1Y |
|---|---|---|---|---|---|
Top BASE.TO Evolve Global Materials & Mining Enhanced Yield Index ETF | — | $85M | 7.92% | +18.43% | +51.15% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | — | $3.3B | 0.57% | -5.20% | +57.77% |
What Is an ETF?
A mining ETF in Canada is an exchange-traded fund that invests in companies involved in the exploration, extraction, and production of natural resources such as gold, silver, copper, and other metals. These ETFs provide exposure to commodity markets through equities rather than direct commodity ownership.
For example, BASE.TO (~0.20% MER) offers exposure to global base metals producers, while XGD.TO (~0.61% MER) focuses on gold mining companies listed in Canada. These ETFs allow investors to benefit from rising commodity prices without selecting individual mining stocks.
Mining ETFs are commonly used in TFSAs and RRSPs as a tactical or satellite position. Investors should consider commodity price cycles, geographic exposure, and company concentration when selecting an ETF.
The 2 Best ETFs: Ranked & Reviewed
Detailed breakdown of each pick with live data.
Evolve Global Materials & Mining Enhanced Yield Index ETF
$30.40
+18.43% YTD
NA
Returns
YTD
+18.43%
1Y
+51.15%
3Y
+16.21%
5Y
+7.84%
iShares S&P/TSX Global Gold Index ETF
$48.54
-5.20% YTD
Returns
YTD
-5.20%
1Y
+57.77%
3Y
+40.09%
5Y
+20.75%
Pros & Cons
Pros
- Strong upside potential during commodity bull markets
- Exposure to essential resources like gold, copper, and base metals
- Can act as an inflation hedge in certain environments
- Access to global mining companies through a single ETF
Cons
- Highly volatile and dependent on commodity price cycles
- Sensitive to geopolitical risks and global economic conditions
- Concentration in a limited number of companies or metals
- Can underperform for extended periods during commodity downturns
Compare These ETFs Head-to-Head
Drill into a side-by-side breakdown of performance, AUM, and yield.
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Frequently Asked Questions
What is the best mining ETF in Canada?
BASE.TO is a strong option for diversified exposure to base metals, while XGD.TO is one of the most popular gold mining ETFs in Canada, focusing on precious metals producers.
Are mining ETFs risky?
Yes, mining ETFs are considered high-risk because they are heavily influenced by commodity prices, which can be volatile. They are also sensitive to geopolitical events and global economic conditions.
Should I invest in mining ETFs long term?
Mining ETFs can be part of a long-term portfolio, but they are typically used as a smaller allocation due to their volatility. Many investors use them tactically to benefit from commodity cycles rather than as core holdings.