Stock exchange-traded funds, or equity ETFs, are often low-cost instruments for investors to track popular indexes or leverage experienced manager choices to beat the market. The best ones serve as low-cost building blocks in a portfolio, and unlike open-end mutual funds, all ETFs are traded throughout the day on an exchange.
In May 2026, the top-performing stock ETFs included equity technology fund Global X Cybersecurity UCITS ETF BUG and equity industrial materials fund VanEck Space Innovators UCITS ETF JEDI. Data in this article is sourced from Morningstar Direct.
Screening for the Best-Performing ETFs
When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.
To find the month’s best-performing stock ETFs, we screened those in Morningstar’s equity, allocation, or fixed-income categories that are available in Norway. We excluded ETFs with less than USD 25 million (€21.5 million) in total assets. We also excluded funds that fall into Morningstar’s “trading” categories, as these funds are designed for active traders and are not suitable for long-term investors.
Within our list, three funds fell into the Korea equity category, where the average name rose 24.18% in May.
The 10 Best-Performing ETFs for May 2026
- Global X Cybersecurity UCITS ETF BUG
- VanEck Space Innovators UCITS ETF JEDI
- Xtrackers MSCI Korea UCITS ETF XKSD
- Amundi MSCI Korea UCITS ETF KRW
- iShares MSCI Korea UCITS ETF (Dist) IKOR
- Rize UCITS ICAV - Rize Cybersecurity Data Privacy UCITS ETF CYBR
- Invesco Solar Energy UCITS ETF ISUN
- iShares MSCI Global Semiconductors UCITS ETF SEMI
- iShares AI Infrastructure UCITS ETF AINF
- Global X Blockchain UCITS ETF BKCH
Metrics for the Best-Performing Stock ETFs
Global X Cybersecurity UCITS ETF
- : ★★Morningstar Rating
- : 0.5%Expense Ratio
- : Equity TechnologyMorningstar Category
The €53.3 million Global X Cybersecurity UCITS ETF ranked first for the month, returning 37.38%. The Global X ETF, which is passively managed, beat the 14.10% gain on the average equity technology fund. Over the past year, the fund has risen 1.22%, underperforming the 61.91% gain on funds in its category, placing it in the 92nd percentile for the period.
The Neutral-rated Global X Cybersecurity UCITS ETF was launched in November 2021.
VanEck Space Innovators UCITS ETF
- Morningstar Rating: ★★★★★
- Expense Ratio: 0.55%
- Morningstar Category: Equity Industrial Materials
The €2.4 billion VanEck Space Innovators UCITS ETF was the second best-performing ETF in May, with a 36.41% gain. The passively managed VanEck ETF beat the 5.72% gain on the average fund in Morningstar’s equity industrial materials category for the month. Over the last year, the fund has gained 243.72%, outperforming the 35.99% gain on funds in its category, placing it in the first percentile for the period.
The Neutral-rated VanEck Space Innovators UCITS ETF was launched in June 2022.
Xtrackers MSCI Korea UCITS ETF
- Morningstar Rating: ★★
- Expense Ratio: 0.45%
- Morningstar Category: Korea Equity
The €422.8 million Xtrackers MSCI Korea UCITS ETF ranked third for the month, returning 30.58%. The Xtrackers ETF, which is passively managed, beat the 24.18% gain on the average Korea equity fund. Over the past year, the fund has risen 239.48%, outperforming the 198.75% gain on funds in its category, placing it in the 46th percentile for the period.
The Neutral-rated Xtrackers MSCI Korea UCITS ETF was launched in July 2007.
Amundi MSCI Korea UCITS ETF
- Morningstar Rating: ★★★
- Expense Ratio: 0.45%
- Morningstar Category: Korea Equity
The fourth best-performing ETF in May was the €908.3 million Amundi MSCI Korea UCITS ETF. The passively managed Amundi ETF returned 30.51%, outperforming the average Korea equity fund, which gained 24.18%. Over the last year, the fund has climbed 240.86%, outperforming the 198.75% gain on funds in its category, placing it in the 28th percentile for the period.
The Neutral-rated Amundi MSCI Korea UCITS ETF was launched in February 2019.
iShares MSCI Korea UCITS ETF (Dist)
- Morningstar Rating: ★★
- Expense Ratio: 0.65%
- Morningstar Category: Korea Equity
The €1.2 billion iShares MSCI Korea UCITS ETF (Dist) ranked fifth for the month, returning 30.44%. The iShares ETF, which is passively managed, beat the 24.18% gain on the average Korea equity fund. Over the past year, the fund has risen 238.81%, outperforming the 198.75% gain on funds in its category, placing it in the 10th percentile for the period.
The Neutral-rated iShares MSCI Korea UCITS ETF (Dist) was launched in November 2005.
Rize UCITS ICAV - Rize Cybersecurity Data Privacy UCITS ETF
- Morningstar Rating: ★★
- Expense Ratio: 0.45%
- Morningstar Category: Equity Technology
The sixth best-performing ETF in May was the €113.8 million Rize UCITS ICAV - Rize Cybersecurity Data Privacy UCITS ETF. The passively managed ARK ETF returned 29.81%, outperforming the average equity technology fund, which gained 14.10%. Over the last year, the fund has climbed 7.27%, underperforming the 61.91% gain on funds in its category, placing it in the 92nd percentile for the period.
The Neutral-rated Rize UCITS ICAV - Rize Cybersecurity Data Privacy UCITS ETF was launched in February 2020.
Invesco Solar Energy UCITS ETF
- Morningstar Rating: ★
- Expense Ratio: 0.69%
- Morningstar Category: Equity Alternative Energy
The €253 million Invesco Solar Energy UCITS ETF was the seventh best-performing ETF in May, with a 28.19% gain. The passively managed Invesco ETF beat the 6.87% gain on the average fund in Morningstar’s equity alternative energy category for the month. Over the last year, the fund has gained 120.81%, outperforming the 71.68% gain on funds in its category, placing it in the seventh percentile for the period.
The Invesco Solar Energy UCITS ETF has a Negative Morningstar Medalist Rating, meaning that our analysts expect it to be one of the worst performers within its category and think it is unlikely to deliver positive returns after fees.
iShares MSCI Global Semiconductors UCITS ETF
- Morningstar Rating: ★★★★★
- Expense Ratio: 0.35%
- Morningstar Category: Equity Technology
The €4.6 billion iShares MSCI Global Semiconductors UCITS ETF ranked eighth for the month, returning 27.41%. The iShares ETF, which is passively managed, beat the 14.10% gain on the average equity technology fund. Over the past year, the fund has risen 191.94%, outperforming the 61.91% gain on funds in its category, placing it in the sixth percentile for the period.
The Neutral-rated iShares MSCI Global Semiconductors UCITS ETF was launched in August 2021.
iShares AI Infrastructure UCITS ETF
- Morningstar Rating: N/A
- Expense Ratio: 0.35%
- Morningstar Category: Equity Technology
The €867.8 million iShares AI Infrastructure UCITS ETF was the ninth best-performing ETF in May, with a 26.57% gain. The passively managed iShares ETF beat the 14.10% gain on the average fund in Morningstar’s equity technology category for the month. Over the last year, the fund has gained 114.47%, outperforming the 61.91% gain on funds in its category, placing it in the 16th percentile for the period.
The Neutral-rated iShares AI Infrastructure UCITS ETF was launched in December 2024.
Global X Blockchain UCITS ETF
- Morningstar Rating: ★
- Expense Ratio: 0.5%
- Morningstar Category: Equity Technology
The €115.7 million Global X Blockchain UCITS ETF ranked tenth for the month, returning 25.98%. The Global X ETF, which is passively managed, beat the 14.10% gain on the average equity technology fund. Over the past year, the fund has risen 137.29%, outperforming the 61.91% gain on funds in its category, placing it in the 14th percentile for the period.
The Global X Blockchain UCITS ETF has not yet been awarded a Morningstar Medalist Rating.
What Are ETFs?
Exchange-traded funds are investments that trade throughout the day on stock exchanges, much like individual stocks. They differ from traditional mutual funds—known as open-end funds—which can only be bought or sold at a single price each day. Historically, ETFs have tracked indexes, but in recent years, more ETFs have been actively managed. ETFs cover a range of asset classes, including stocks, bonds, commodities, and most recently cryptocurrency.
The Best ETFs: More Ideas to Consider
- Read the latest articles on ETFs.
- Use the ETF screener to find the best ETFs according to your specific criteria. You can search for funds based on their fees, Morningstar Medalist Ratings, manager tenures, and more.
