Top 10 most-purchased ETFs in March 2025
Investors sought out safe-haven assets, such as gold and defence shares, as geopolitical and economic uncertainty increased.
1st April 2025 13:20
by Sam Benstead from interactive investor
Investors turned to defence exchange-traded funds (ETFs) and gold last month to protect their portfolios.
Two ETFs that owned military-linked companies made the list: VanEck Defense Ucits ETF and HanETF Future of Defence.
They own businesses such as Thales, Rheinmetall and BAE Systems, which have also risen in value as European nations set out plans to increase spending on defence in light of the United States’ isolationist approach to international relations.
- Invest with ii: Buy Global Funds | Top Investment Funds | What is a Managed ISA?
Over the past 12 months, VanEck Defense Ucits ETF has risen 41.7% and HanETF Future of Defence has risen 32.6%.
The other investment performing very well this year is gold, which is rising in value due to geopolitical and economic uncertainty.
In addition to being seen as a hedge against uncertainty, another factor at play is inflation. Gold is widely viewed as an inflation hedge and some commentators think inflation will be higher than central bankers have forecast for 2025.
Gold now trades at $3,133 /oz (£2,422), which is a record high. It traded at around $2,300/oz 12 months ago. Investors are choosing to own it via iShares Physical Gold ETC, which has risen 35.2% over the past year and 60.3% over the past three years.
- Gold investing: what, why and how to invest
- Are commodities the key to a smoother ride?
- Gold funds rise during market mayhem
The two most popular ETFs last month were Vanguard’s S&P 500 trackers, with the version that pays out dividend income being more popular than the version that reinvests dividend income.
US shares, measured in sterling terms, have dropped 9% this year, due to a weaker dollar and falling stock market as investors express concerns about President Trump’s trade policy.
This has also pulled down global markets about 6%, with holders of iShares Core MSCI World Ucits ETF and Vanguard FTSE All World Ucits ETF suffering too.
But returns from the tech-heavy Nasdaq 100 index have been even worse. Invesco EQQQ Nasdaq 100 Ucits ETF has fallen 12.5% this year and investors have taken profits in the Magnificent Seven group of large tech shares.
For example, Tesla shares are 32% lower this year, Amazon’s are 13.6% lower and Microsoft’s are 10% lower.
Nevertheless, investors put more money into ETFs tracking global and US markets last month, hoping to profit from a rebound in valuations if Trump changes tack on tariffs.
VanEck Crypto and Blockchain Innovators ETF (DAGB) fell off the list in March.
Top 10 most-popular ETFs in March 2025
| Rank | ETF | Change on February | One-year return (%) | Three-year return (%) |
| 1 | Vanguard S&P 500 UCITS ETF GBP (LSE:VUSA) | Up one | 4.8 | 30.1 |
| 2 | Vanguard S&P 500 ETF USD Acc GBP (LSE:VUAG) | Up one | 4.8 | 30.1 |
| 3 | iShares Physical Gold ETC GBP (LSE:SGLN) | Down two | 35.2 | 60.3 |
| 4 | Invesco EQQQ NASDAQ-100 ETF GBP (LSE:EQQQ) | Up one | 3.5 | 33.9 |
| 5 | iShares Core MSCI World ETF USD Acc GBP (LSE:SWDA) | Unchanged | 4.7 | 27.1 |
| 6 | Vanguard FTSE All-World ETF USD Acc GBP (LSE:VWRP) | Up one | 5.2 | 24.9 |
| 7 | Vanguard FTSE All-World UCITS ETF GBP (LSE:VWRL) | Down one | 5.2 | 24.9 |
| 8 | VanEck Defense ETF A USD Acc GBP (LSE:DFNG) | New entry | 41.7 | n/a* |
| 9 | iShares Core FTSE 100 ETF GBP Dist (LSE:ISF) | Down one | 12.7 | 28.5 |
| 10 | HanETF Future of Defence ETF Acc GBP (LSE:NATP) | No change | 32.6 | n/a* |
Source: interactive investor/FE FundInfo. Performance data to 31 March 2025. Past performance is not a guide to future performance.
* Three-year data not available as funds launched in 2023
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.