Ranking of Top U.S. ETF Gainers (24 Months)

The Top 24-Month Gainers U.S. ETFs ranking highlights the exchange-traded funds that have delivered the strongest price performance over the past two years, providing a broader view of how different funds, market segments, and investment strategies have performed over a medium-term horizon.

Many investors analyze longer performance periods to better assess the consistency of an ETF's returns and distinguish sustained market trends from short-term price movements.

A 24-month horizon can provide greater insight into structural market trends that may not be visible over shorter periods. It also captures the effects of changing monetary policy, economic cycles, geopolitical developments, and other macroeconomic factors on different asset classes and investment strategies.

Although past performance does not guarantee future results, analyzing an ETF over 24 months can help investors identify patterns of sustained momentum and volatility and better understand how the fund has performed under changing market conditions.

How the ranking works

The ranking analyzes the historical closing prices of eligible U.S. ETFs over the previous 24 months, using adjusted prices to account for technical events such as stock splits and reverse splits.

Each ETF's cumulative price return is calculated by comparing its current market price with its adjusted market price approximately two years earlier.

Eligible ETFs are then ranked from highest to lowest based on their percentage return over the 24-month period, providing a straightforward comparison of the funds that experienced the strongest price appreciation.

Only ETFs with sufficient historical data to calculate a complete 24-month return are eligible for the ranking. The ranking is updated regularly to reflect the latest available market data. It is intended for informational purposes only and should not be considered investment advice.

Characteristics of top-performing ETFs over 24 months

  • Exposure to outperforming market segments: ETFs focused on sectors, asset classes, geographic regions, or investment themes that experienced sustained growth may rank among the strongest performers over a two-year period.
  • Sustained price momentum: Strong 24-month performance can indicate that favorable market conditions persisted beyond a short-term rally.
  • Potential use of leverage or derivatives: Some top-performing ETFs may use leveraged or derivative-based strategies designed to amplify daily benchmark movements, increasing both return potential and risk.
  • Concentrated exposure: Sector-specific, thematic, commodity, or geographically concentrated ETFs can experience significant gains when their underlying markets outperform, while also carrying greater concentration risk.
  • Sensitivity to macroeconomic conditions: Interest rates, inflation, economic growth, geopolitical developments, currency movements, and regulatory changes can materially affect ETF performance over a two-year period.

Frequently Asked Questions

Which U.S. ETFs have gained the most over the past 24 months?

According to the Top 24-Month Gainers U.S. ETFs ranking, the best-performing ETFs over the previous 24 months in October 2026 are:

  • ETF Managers Group Commodity Trust I (BWET) — 24-Month Return: 5,037.20%
  • Grayscale Zcash ETF (ZCSH) — 24-Month Return: 2,022.17%
  • MUU (MUU) — 24-Month Return: 1,873.10%
  • VanEck Funds (EMBX) — 24-Month Return: 860.80%
  • ProShares Ultra Semiconductors (USD) — 24-Month Return: 822.02%
How is an ETF's 24-month return calculated?

An ETF's 24-month return is calculated by comparing its current market price with its adjusted market price approximately two years earlier. Historical prices are adjusted for events such as stock splits and reverse splits to improve comparability over the period.

Does a strong 24-month return mean an ETF is a good long-term investment?

Not necessarily. Strong performance over two years shows how an ETF performed during a specific market period but does not guarantee future returns. Investors should also evaluate the fund's investment strategy, underlying holdings, diversification, expense ratio, liquidity, volatility, and risk profile before making an investment decision.