As we navigate the first quarter of 2026, advisor interest is increasingly shifting toward traditional hedges and quality-oriented products. VanEck, a pioneer in thematic and hard-asset investing, has seen its lineup take center stage as market participants grapple with a shifting macro environment.
One of the most notable stories of the year remains the resurgence of the VanEck Gold Miners ETF (GDX). Following a strong 2025 where spot gold finished over 50% higher, GDX has continued to see robust flows, with assets under management now totaling $34 billion. For advisors, the primary appeal lies in the operational leverage miners provide; GDX has posted a one-year return of 164.7% as of March 4, significantly outperforming the underlying metal as margins expand in a high-price environment.
In the fixed income space, the VanEck J. P. Morgan EM Local Currency Bond ETF (EMLC), the VanEck High Yield Muni ETF (HYD), and the VanEck CLO ETF (CLOI) have seen considerable investor interest year to date. This demand underscores a broader search for yield and diversification, as investors move beyond traditional treasuries to capture spreads in emerging markets and collateralized loan obligations. Specifically, CLOI has benefited from a higher-for-longer rate environment, mitigating duration risk for conservative portfolios.
VanEck Thematic Dominance: Semiconductors and Digital Assets
The thematic sleeve is another area where VanEck’s products maintain a competitive edge, particularly the VanEck Bitcoin ETF (HODL) and the VanEck Semiconductor ETF (SMH). SMH currently stands as the largest semiconductor ETF on the market, with over $44 billion in assets, outpacing rival products from iShares and State Street Investment Management. Notably, HODL has been strengthened by a strategic pivot among bitcoin miners increasingly devoting power resources to servicing the AI data center buildout — a trend that SMH, with its 77.8% one-year return, continues to capitalize on.
Advisors seeking deeper insights into these macro shifts will have a front-row seat in less than two weeks at the Exchange conference. VanEck CEO Jan van Eck will be on stage with CNBC’s Dominic Chu to discuss the evolving ETF industry and specific investment styles positioned to lead in the current market environment.
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