Top 9 ASX commodity ETFs to watch in 2026

ASX commodity products take different forms: some hold physical metal in custody, some track the equity of commodity-linked companies, and one follows crude oil futures. Perth Mint Gold ($PMGOLD) is the only product on this list structured as a call option under ASX Operating Rules, giving holders the right to acquire gold from The Perth Mint rather than units in a conventional fund.

How we built this list: We selected these funds based on their industry or investment category and ordered them by assets under management. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$. Data updated as of 10 August 2026.

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1. Global X Physical Gold ($GOLD)

Global X Physical Gold (GOLD) share price over the last year: started at A$47.50, ended at A$56.27, a change of +18.5%. Range over the period: high A$71.90, low A$47.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $56.27 · Daily: 1.1% · AUM: $5.80B · MER: 0.40%

Global X Physical Gold ($GOLD) is designed to track the Gold Price PM – the London afternoon gold price fixing – in Australian dollars, before fees and expenses. The fund holds physical gold in custody rather than using futures contracts or derivatives to replicate the price. That custody structure means $GOLD's value is tied directly to actual bullion holdings.

The Gold Price PM is a daily benchmark set in London, distinct from the morning AM fixing, and acts as a settlement reference across the global gold market. Because the fund expresses that benchmark in Australian dollars, $GOLD prices the metal in local currency terms rather than in USD.

2. Perth Mint Gold ($PMGOLD)

Perth Mint Gold (PMGOLD) share price over the last year: started at A$51.55, ended at A$61.12, a change of +18.6%. Range over the period: high A$77.95, low A$51.02. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $61.12 · Daily: 1.0% · AUM: $2.22B · MER: 0.15%

Created on-market by Gold Corporation – the entity behind The Perth Mint – Perth Mint Gold ($PMGOLD) is structured as a call option under ASX Operating Rules rather than a conventional fund unit. Each $PMGOLD gives the holder the right to acquire physical gold from The Perth Mint. That right can be exercised at any time.

The ASX price is intended to track the international over-the-counter (OTC) spot price of gold – the rate set in global dealer markets – unhedged in Australian dollars. Gold Corporation backs each unit with physical gold, so the price at any given moment is based on the market value of that backing.

3. Global X Physical Silver ($ETPMAG)

Global X Physical Silver (ETPMAG) share price over the last year: started at A$53.96, ended at A$83.40, a change of +54.6%. Range over the period: high A$153.45, low A$53.22. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $83.40 · Daily: 1.5% · AUM: $1.42B · MER: 0.49%

Global X Physical Silver ($ETPMAG) is designed to track the silver price in Australian dollars, before fees and expenses. The fund aims to correspond generally to silver's price and yield performance, so its value moves with the spot price of the metal itself. The 'Physical' in the fund's name points to the metal as the underlying exposure, rather than to silver-mining equities or futures contracts.

4. Betashares Global Energy Companies Cur Hdg ETF ($FUEL)

Betashares Global Energy Companies Cur Hdg ETF (FUEL) share price over the last year: started at A$6.32, ended at A$8.32, a change of +31.6%. Range over the period: high A$9.11, low A$6.29. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $8.32 · Daily: -0.8% · AUM: $249.0M · MER: 0.57%

Betashares Global Energy Companies Cur Hdg ETF ($FUEL) aims to track the Nasdaq Global ex-Australia Energy Hedged AUD Index, which covers companies in the energy sector listed outside Australia. The fund is currency-hedged, meaning its mandate targets AUD-adjusted index returns. Its MER is 0.57%.

5. VanEck Gold Bullion ETF ($NUGG)

VanEck Gold Bullion ETF (NUGG) share price over the last year: started at A$51.57, ended at A$60.98, a change of +18.2%. Range over the period: high A$77.84, low A$50.86. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $60.98 · Daily: 1.3% · AUM: $234.5M · MER: 0.25%

VanEck Gold Bullion ETF ($NUGG) aims to give investors an investment in physical gold bullion held by a custodian. The fund is designed to hold only Australian Origin Gold – meaning bullion sourced from Australian gold producers. Those producers must satisfy due diligence requirements under the LBMA (London Bullion Market Association) Responsible Gold Guidance before their gold qualifies for the fund.

6. Global X Physical Precious Metals Basket ($ETPMPM)

Global X Physical Precious Metals Basket (ETPMPM) share price over the last year: started at A$309.89, ended at A$388.55, a change of +25.4%. Range over the period: high A$567.91, low A$307.81. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $388.55 · Daily: 1.4% · AUM: $137.6M · MER: 0.44%

Global X Physical Precious Metals Basket ($ETPMPM) is designed to track the price performance of a basket of precious metals, measured in Australian dollars. By holding multiple metals rather than a single commodity, $ETPMPM aims to reflect price movements across the precious metals complex as a whole.

The 'physical' in the name indicates the fund holds actual metal rather than shares in mining companies – a structural distinction from the equity-based products elsewhere on this list.

7. Betashares Crude Oil Index Currency Hdg Cmplx ETF ($OOO)

Betashares Crude Oil Index Currency Hdg Cmplx ETF (OOO) share price over the last year: started at A$5.40, ended at A$7.94, a change of +47.0%. Range over the period: high A$10.81, low A$4.94. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $7.94 · Daily: 0.0% · AUM: $116.4M · MER: 1.29%

Betashares Crude Oil Index Currency Hdg Cmplx ETF ($OOO) tracks crude oil futures rather than physical metal or company shares. It is designed to follow the S&P GSCI Crude Oil Index Excess Return – an index built around West Texas Intermediate (WTI) crude futures traded on the New York Mercantile Exchange – hedged into Australian dollars. WTI serves as a pricing benchmark for more than 160 internationally-traded crude oils, so the index captures a broadly referenced segment of the global oil market.

8. Global X Physical Platinum ($ETPMPT)

Global X Physical Platinum (ETPMPT) share price over the last year: started at A$187.24, ended at A$230.01, a change of +22.8%. Range over the period: high A$361.21, low A$187.24. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $230.01 · Daily: 0.5% · AUM: $80.4M · MER: 0.49%

Global X Physical Platinum ($ETPMPT) is designed to track the LBMA Platinum Price PM in Australian dollars. LBMA stands for the London Bullion Market Association, which publishes the daily afternoon reference price for platinum. The fund holds physical platinum, so it aims to correspond to the metal's spot price rather than tracking mining company shares or futures contracts.

The performance objective is measured before fees and expenses. That physical structure ties the fund's value directly to platinum pricing, with the LBMA PM rate as its stated reference point.

9. Betashares Global Agriculture Companies Cu Hdg ETF ($FOOD)

Betashares Global Agriculture Companies Cu Hdg ETF (FOOD) share price over the last year: started at A$7.03, ended at A$7.90, a change of +12.4%. Range over the period: high A$8.86, low A$6.97. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $7.90 · Daily: -0.3% · AUM: $74.0M · MER: 0.57%

Betashares Global Agriculture Companies Cu Hdg ETF ($FOOD) aims to track the Nasdaq Global ex-Australia Agriculture Companies Hedged AUD Index. The index is designed to measure the performance of globally traded equities across agriculture and farming-related businesses, focusing on the largest and most liquid companies in the sector. Australian-listed stocks are excluded, so the coverage is entirely international.

$FOOD holds equity and equity-related securities in agribusiness companies. Its exposure runs through company stocks rather than physical commodities or futures contracts. The fund is currency-hedged to the Australian dollar.

Common questions

How can I invest in commodity ETFs in Australia?

ASX-listed commodity ETFs trade like ordinary shares – you buy them through a share trading platform during market hours by searching the relevant ticker. The funds in this list are all ASX-listed, so no international brokerage account is needed. Physical commodity products, equity-based funds and futures-tracking funds are all accessible this way, though their underlying exposure works quite differently.

What are the key risks of commodity ETFs?

Commodity prices can move sharply, and funds holding physical metals or tracking futures contracts tend to reflect those swings directly. Equity-based funds add a layer of company-level risk – production costs, operational decisions and sector regulation – on top of the raw commodity price exposure. For unhedged funds backed by internationally quoted assets, movements between the AUD and the relevant foreign currency also influence returns alongside the commodity's price.

What's the difference between physical commodity funds, equity-based funds and futures-based funds?

Physical funds hold the underlying commodity – gold bullion or silver, for instance – and aim to track its spot price. Equity funds hold shares in companies operating in a commodity-related sector, so their performance depends on both commodity prices and how those businesses run day-to-day. Futures-based funds track an index of commodity futures contracts, which introduces additional mechanics like roll costs as expiring contracts are replaced – meaning the fund's return can differ from simply holding the commodity itself.

How does currency hedging affect these ETFs?

Unhedged funds – which include the physical metal products in this list – are priced in AUD but backed by commodities quoted internationally, so exchange rate movements between the AUD and the relevant foreign currency influence returns alongside the commodity's price. The energy, agriculture and crude oil funds here are currency-hedged, meaning they aim to reduce that currency component. Hedging targets currency movement specifically; it leaves commodity price risk and, for equity funds, company-level risk fully in place.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.

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