ETFs: Gold mine trackers with many fans
With the rapid rise in the price of gold, gold ETCs are in demand, but gold mine ETFs are even more so. Otherwise, the focus continues to be on technology and defense.
23 September 2025. FRANKFURT (Börse Frankfurt). The record chase on Wall Street continues this week, while in Germany the sideways movement continues. However, equity ETFs of all kinds remain in demand – especially those with US and global stocks, but also those with European stocks. Holger Heinrich of Baader Bank reports a clear buying surplus with increased turnover. However, gold is the subject of most discussion. This is because the price of gold reached another all-time high on Tuesday morning, specifically $3,790 per troy ounce.
As a result, there is a lot of activity in gold ETCs and gold mine ETFs, as Lang & Schwarz trader Michael Norizin reports. “The focus is on mine ETFs – with a very clear buying surplus,” he notes. Examples include iShares Gold Producers (IE00B6R52036) and Global X Silver Miners (IE000UL6CLP7). Purchases also dominated ETCs. However, profits were also taken here, for example with Xetra Gold (DE000A0S9GB0).
“Shift toward quality and growth strategies”
In the area of US equity ETFs, Baader Bank trader Heinrich sees an overall shift toward quality and growth strategies. “Small caps are losing importance,” he adds. The SPDR S&P 500 Quality Aristocrats (IE000FJJZA01) is particularly in demand, for example. Sustainability-oriented products are also popular, such as the Amundi S&P 500 Climate Paris Aligned (IE000O5FBC47). On the other hand, the UBS MSCI USA Small Cap Selection (IE000XFXBGR0) is on the sell list.
According to Heinrich, some MSCI World and MSCI World ACWI trackers (IE000TB15RC6) are in demand in the global ETF business, while others are being sold off (IE0002VEN3U3). “Overall, we are seeing a combination of global core investments and a growing focus on ESG,” Heinrich summarizes. The picture is similar for European equities. “Overall, the focus in Europe is on sustainability and quality strategies, while individual country and broader ETFs are on the sell side,” Heinrich summarizes. He reports sales for Italian (LU0274212538) and British equities, for example.
Busy times for tech and defense trackers
In trading with sector ETFs, the ever-new highs have arrived on the Nasdaq: Tech ETFs continue to be extremely sought after, for example, the iShares S&P 500 Information Technology Sector (IE00B3WJKG14) and the iShares MSCI Global Semiconductors (IE000I8KRLL9), as reported by Norizin. The UBS Nasdaq 100 (IE000SB4G4I4) is proving popular with Baader Bank customers. According to Norizin, things have quietened down somewhat for defense ETFs. “Although purchases continue to predominate, sales are no longer as high.” Particularly popular: the VanEck Defense (IE000YYE6WK5).
VanEck Defense with highest Xetra turnover
The industry ETFs with the highest turnover on Xetra in recent weeks were the defense tracker VanEck Defense, the banking ETF iShares Stoxx Europe 600 Banks (DE000A0F5UJ7) and the two tech index funds iShares S&P 500 Information Technology Sector (IE00B3WJKG14) and Xtrackers Artificial Intelligence & Big Data (IE00BGV5VN51).
Things are not going so well for the automotive industry at the moment. Yesterday, Monday, European automotive stocks fell again following profit warnings from the Volkswagen Group and its sports car subsidiary Porsche. Contrary to the upward trend on the stock markets, the much-traded iShares Stoxx Europe 600 Automobiles & Parts (DE000A0Q4R28) has lost 7 percent of its value over the last twelve months.
By Anna-Maria Borse, 23 September 2025, © Deutsche Börse AG
About the author
Anna-Maria Borse is a finance and economics editor specializing in financial markets/stock exchanges and economic issues.
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