It has certainly been a tough year for the usual ETF market darlings.
Both the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ Trust (NASDAQ:QQQ) have seen red this year due to poor performance in tech stocks due to valuation concerns, and macroeconomic uncertainties. This downturn has come along with significant outflows, with SPY seeing almost $30 billion and QQQ seeing $11 billion in outflows, according to Etf Database. This indicates a shift from playing the market at large to more specific opportunities.
This trend has highlighted the shift in money flow into unconventional ETFs. Rather than following index investing trends, there appears to be a greater appetite for ETFs that seek to benefit from specific distortions, whether fuel shortages, high commodity prices, or shipping bottlenecks. As geopolitics, artificial intelligence (AI)-driven energy demands, and supply chain fragmentation create an atmosphere of uncertainty, niche investing has become quite profitable this year.
Below are some of the top-performing ETFs of 2026:
Energy ETFs: Beyond Crude, Into Tactical Plays
- Invesco DB Energy Fund (NYSE:DBE) – Tracks a basket of energy commodities, including crude oil, gasoline, and heating oil, making it a direct beneficiary of broad-based price spikes. The fund has gained more than 76% this year so far.
- United States Gasoline Fund (NYSE:UGA) – A more targeted bet, UGA has surged on tight refining capacity and strong gasoline demand. The fund has returned more than 73% year-to-date (YTD).
- Defiance Oil Enhanced Options Income ETF (NASDAQ:USOY) – Uses an options-based strategy to generate income while still participating in oil's upside, making it attractive in volatile markets. The fund has gained over 41% YTD.
These funds show how investors are moving beyond traditional oil exposure toward more precise and income-generating strategies.
Commodity & Multi-Asset ETFs: Playing Inflation And Scarcity
- VanEck Commodity Strategy ETF (BATS:PIT) – Offers active exposure to a diversified basket of commodities, benefiting from price gains across energy, metals, and agriculture. The fund has returned more than 41% this year so far.
- DoubleLine Commodity Strategy ETF (NYSE:DCMT) – Blends commodities with fixed income, providing a diversified way to capture inflation-driven returns. The fund is up 31% YTD.
- iShares GSCI Commodity Dynamic Roll Strategy ETF (NASDAQ:COMT) – Uses a dynamic futures roll approach to enhance returns in volatile commodity markets, and has returned 39%+ since Jan 1.
With supply constraints and inflation pressures persisting, commodities have shifted from a hedge to a primary return driver.
The Quiet Winner Of Global Disruption
- Breakwave Tanker Shipping ETF (NYSE:BWET) – Tracks tanker freight rates, which have surged amid rerouted trade flows and geopolitical disruptions. The fund has surged almost 620% so far this year, proving to be the unmatched winner.
As global supply chains become more fragmented, shipping costs have risen sharply, turning freight exposure into an unexpected outperformer.
The Bottom Line
While traditional index ETFs like SPY and QQQ struggle, 2026 is shaping up to be a year when precision beats broad exposure. Energy-linked strategies, commodities, and even shipping-focused ETFs are capitalizing on real-world disruptions.
In a market driven by war, AI demand, tech overvaluation concerns, and supply shocks, the winners are no longer the biggest funds, but the most targeted ones.
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