3 Best Gold ETFs on the ASX for Investors

Last Updated on 6 th October 2026

Gold has remained in a strong bull market over the past two years, supported by substantial purchases from central banks and countries around the world, with China emerging as one of the largest buyers. Heightened geopolitical tensions and continued global economic uncertainty have been key factors behind the increased demand for gold.

The following three gold-based ETFs stand out for their strong historical returns, relatively low costs and potential diversification benefits during periods of heightened market volatility.

1. Betashares Global Gold Miners Currency Hedged ETF (ASX: MNRS)

Betashares Global Gold Miners Currency Hedged ETF (ASX: MNRS) provides investors with exposure to an index comprising some of the world's largest gold mining companies, while also hedging the currency exposure back to Australian dollars. The ETF currently holds 47 securities.

As gold miners tend to have a close relationship with movements in the gold price, MNRS may provide diversification and defensive characteristics, particularly when financial markets experience increased uncertainty or volatility.

MNRS recorded a 1 month return of 31.04%, while its 1 year return stood at 57.81%. Over three years, the ETF generated an annualised return of 51.28%. On a calendar-year basis, MNRS returned 18.13% in CY24 before delivering a significantly higher return of 150.6% in CY25.

The ETF has a 12 month distribution yield of 7.2%, with distributions paid semi-annually. Its management fee is 0.47% per annum, while other expenses are 0.10% per annum.

By sector, MNRS has 84.3% allocated to gold, 8.5% to silver and 7.2% to precious metals and minerals. Canada represents the largest country allocation at 43.3%, followed by the United States at 15.8% and South Africa at 11.7%, with the balance spread across other countries.

2. Betashares Gold Bullion Currency Hedged ETF (ASX: QAU)

Betashares Gold Bullion Currency Hedged ETF (ASX: QAU) offers exposure to physical gold bullion and aims to track movements in the gold price. The ETF also hedges exposure to fluctuations in the AUD/USD exchange rate, before fees and expenses.

QAU holds physical gold bullion in an account with JPMorgan Chase Bank N.A. in a London vault, although an authorised subcustodian may temporarily hold the bullion. The gold meets the requirements for certification as ‘London Good Delivery Bars’ under the standards set by the London Bullion Market Association.

QAU has generated a 1 month return of 9.38% and a 1 year return of 28.42%. Its three year annualised return stands at 29.39%. The ETF returned 24.22% during CY24, followed by a much stronger 62.75% return in CY25.

The portfolio has a 100% allocation to gold bullion and makes distributions annually, with a distribution yield of 5%. QAU carries a management fee of 0.49% per annum and expenses of 0.10% per annum.

3. Global X Physical Gold Structured (ASX: GOLD)

Global X Physical Gold Structured (ASX: GOLD) is one of Australia's largest and most liquid gold-backed exchange traded products. It provides investors with a cost-efficient way to gain exposure to gold and offers the lowest bid/ask spread in the market.

GOLD generated a 1 month return of 7.5%, while its 1 year return was 17.3%. Over a five-year period, the ETF delivered an annualised return of 13%. Its performance strengthened considerably over the past two calendar years, with returns of 39% in CY24 and 52.6% in CY25.

The Global X Physical Gold Structured ETF aims to reflect movements in the Australian dollar gold price and has a management fee and cost of 0.4% per annum.

Gold can also provide diversification against other asset classes. The benchmark has recorded a negative correlation of -0.14 with global equities, -0.23 with WTI crude oil and -0.29 with energy. Its correlation with silver is comparatively stronger at 0.75.

Source: Company Announcements