Updated: December 5, 2025
Exchange‑traded funds (ETFs) are having a monster year. U.S.-listed ETFs have already pulled in about $1.27 trillion in net inflows for 2025, an all‑time annual record with a month still to go. [1] Core stock index funds like Vanguard S&P 500 ETF (VOO), SPDR S&P 500 ETF Trust (SPY) and iShares Core S&P 500 ETF (IVV) sit at the top of the leaderboard, with VOO alone attracting nearly $125 billion this year — the biggest haul ever recorded by a single ETF. [2]
At the same time, precious‑metals ETFs are on fire. Silver has roughly doubled in price this year and is trading just below a record near $59 an ounce, powered in part by the strongest weekly inflows into silver‑backed ETFs since mid‑2025. [3] Gold‑backed ETF holdings have climbed to a month‑end record, further fueling bullion’s rally. [4]
Regulation is tightening at the fringes, too. This week the U.S. Securities and Exchange Commission signaled it will block proposals for hyper‑leveraged 3x–5x ETFs, effectively capping leverage at 2x under derivatives Rule 18f‑4 — a clear message that the riskiest ETF structures won’t get a green light. [5]
Against that backdrop, investors on December 5, 2025 want to know: Which ETFs are still worth owning today — and into 2026?
Below, we break down the best U.S.-listed ETFs right now, grouped by role in a portfolio and supported by the latest flows, performance data and news.
Important: Nothing here is personal investment advice. These are widely followed ETFs that analysts and major publications are focusing on today. Always match any fund to your own goals, risk tolerance and tax situation, and consider speaking with a qualified adviser.
What’s happening in ETFs and the stock market today?
1. Mixed equity markets, sector rotation beneath the surface
U.S. stocks are essentially treading water into the first week of December. The major indexes are hovering near recent highs after a choppy November in which the S&P 500 fell about 5% peak‑to‑trough before recovering, while the 10‑year Treasury yield ended the month around 4.1%. [6]
Under the hood, though, sector ETFs are rotating:
- In pre‑market trading on Dec. 5, the Materials Select Sector SPDR (XLB) is leading the sector pack, while Technology (XLK), Consumer Discretionary (XLY) and Utilities (XLU) show modest gains. [7]
- Industrials (XLI) is slightly in the red, highlighting how leadership is chopping around day‑to‑day. [8]
For ETF investors, this argues for broad diversification first, with selective sector tilts rather than big, binary bets.
2. Record ETF inflows favor broad U.S. equity index funds
Fresh data from ETF.com shows:
- U.S.-listed ETFs took in about $148B in November alone, bringing 2025 year‑to‑date inflows to a record $1.27T. [9]
- U.S. equity ETFs attracted the most capital, at roughly $73.6B in November, ahead of U.S. fixed income and international equity funds. [10]
- At the fund level, VOO took in nearly $21B in November and about $125B year‑to‑date, an unprecedented haul. [11]
That’s a huge vote of confidence in low‑cost, broad U.S. stock index ETFs as long‑term building blocks.
3. Precious‑metals ETFs and “fear trades” are surging
On December 5:
- Silver is near a record, up roughly 100% in 2025, with ETF inflows at their highest in months. [12]
- According to Bankrate’s latest “best ETFs” update (as of Nov. 28, 2025), SPDR Gold Shares (GLD) is up about 60% year‑to‑date, while iShares Silver Trust (SLV) is up nearly 95%, making them standout performers among commodity ETFs. [13]
- Bloomberg reports that gold‑backed ETF holdings have set a month‑end record, underscoring strong investor demand for safe‑haven and inflation‑hedging assets. [14]
These are not stock ETFs, but because they’re U.S.-listed ETFs and very liquid, they’re an important part of today’s ETF story.
4. Crypto ETFs: more mainstream access, but brutal volatility
Crypto is firmly inside the ETF mainstream now:
- ETF.com’s November flows data shows iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA)among the largest crypto ETFs by assets, but both saw heavy outflows in November as Bitcoin and ether tumbled. [15]
- Bitcoin briefly plunged to around $80,000, roughly a third below its October high near $125,000, making crypto one of the worst‑performing major asset classes last month. [16]
- Bank of America just announced that, from January 5, its wealth advisers will be allowed to recommend crypto exchange‑traded products (ETPs) directly, suggesting a 1–4% allocation might be appropriate for clients comfortable with high volatility. [17]
At the same time, the SEC’s clampdown on 3x–5x leveraged ETFs — many of which were planned for single stocks and crypto — underlines regulatory concern about retail investors overusing leverage. [18]
Bottom line: core stock ETFs are absorbing most of the capital, while metals and crypto ETFs are acting as satellite bets on macro uncertainty and speculation.
How we picked “best” ETFs for today
To narrow the universe, this roundup leans on three main inputs:
- Independent rankings and performance data – especially Bankrate’s updated list of “Best ETFs by type” for December 2025, which screens for long‑term performance, low expense ratios and broad index exposure. [19]
- Recent flow data – from ETF.com’s November flows report, showing where investors are actually putting new money right now. [20]
- Analyst and strategist commentary – including Zacks/Nasdaq features on long‑term ETF allocations and major banks’ forecasts for the S&P 500 into 2026. [21]
Within that framework, “best” means:
- Low cost (especially under 0.10% where possible)
- High liquidity and tight bid/ask spreads
- Diversified, rules‑based index exposure
- Strong long‑term track records (or, for new launches, compelling design and reputable sponsors)
- A clear role in a standard portfolio (core equity, growth tilt, income, diversifier, etc.)
Let’s look at the funds.
1. Core U.S. stock market ETFs: VOO, SPY, IVV, VTI
These are the workhorses — the ETFs that can be 50–80% of a long‑term portfolio for many investors.
Vanguard S&P 500 ETF (VOO)
- Type: Large‑cap U.S. equity, S&P 500 index
- Expense ratio: ~0.03% [22]
- Why it stands out now:
Banks, research houses and personal‑finance sites are all effectively pointing at the same conclusion: if you want a simple, diversified bet on U.S. large‑caps, VOO is still the go‑to candidate in December 2025. [25]
SPDR S&P 500 ETF Trust (SPY)
- Type: Large‑cap U.S. equity, S&P 500
- Expense ratio: ~0.095% [26]
- Strength: Unmatched liquidity — it’s the original S&P 500 ETF and one of the most heavily traded securities on the planet, which is why traders and institutions continue to use it despite the higher fee.
If you’re a shorter‑term trader, SPY’s depth may matter more than its expense ratio. For long‑term buy‑and‑hold, many prefer VOO or IVV simply because they’re cheaper.
iShares Core S&P 500 ETF (IVV)
- Type: Large‑cap U.S. equity, S&P 500
- Expense ratio: ~0.03% [27]
- Highlight: Also ranks among the top ETFs by performance and low cost on Bankrate’s December list and is the second‑biggest 2025 asset‑gatherer after VOO by flows. [28]
Practically speaking, IVV and VOO are interchangeable for many investors. Which one you choose often comes down to brokerage perks, existing holdings and personal preference.
Vanguard Total Stock Market ETF (VTI)
- Type: Broad U.S. equity (large, mid, small caps)
- Expense ratio: ~0.03%
- Why it’s a “best” ETF now:
VOO/IVV/SPY vs. VTI:
If you want to keep things ultra‑simple, you can think of VOO/IVV/SPY as “500 of the biggest names” and VTI as “almost the entire U.S. stock market in one fund.” Either approach has worked well historically; VTI adds a bit more small‑cap exposure.
2. Growth and technology ETFs: QQQ, QQQM, VUG, VGT
Artificial intelligence and mega‑cap tech are still the heartbeat of the U.S. market. If you want to lean into that theme (while acknowledging the risk), these ETFs are at the center of the conversation.
Invesco QQQ Trust (QQQ) & Invesco NASDAQ 100 ETF (QQQM)
- Type: Large‑cap growth / tech, NASDAQ‑100 index
- Expense ratio: QQQ ~0.20%; QQQM slightly cheaper
- Why they matter in December 2025:
- Both appear on “best ETFs to buy in December 2025” lists thanks to their exposure to leaders in AI, cloud and consumer tech. [31]
- Bankrate’s equity ETF table shows QQQ with one of the strongest YTD and 5‑year returns among major U.S. index funds as of Nov. 28. [32]
- QQQM, a lower‑fee sibling launched later, has drawn more than $20B in YTD inflows, signaling strong demand for concentrated growth exposure at a slightly lower cost. [33]
QQQ is still the ticker most traders use; QQQM is more buy‑and‑hold‑friendly thanks to its fee structure.
Vanguard Growth ETF (VUG) & iShares Russell 1000 Growth ETF (IWF)
- Type: Broad large‑cap growth
- Both funds overweight giants like Apple, Microsoft, Nvidia and other AI‑linked names, but spread risk across a wider set of companies than QQQ.
- Zacks’ recent “ETFs to Keep Your Portfolio on Track in the Long Term” feature highlights growth funds like VUG and IWF as tools for investors who want a structural tilt toward innovative, cash‑generative companies while still holding a diversified core. [34]
Vanguard Information Technology ETF (VGT)
- Type: Sector ETF, U.S. technology
- Bankrate counts VGT among its top sector ETFs, noting strong trailing 5‑year returns and a reasonable expense ratio around 0.09%. [35]
Caution on a possible “AI bubble”
Thought leaders like NTT Data’s CEO have publicly warned that any AI‑driven bubble could deflate faster than prior tech cycles — even if the longer‑term rebound is strong. [36] That’s another argument for using growth ETFs as satellites around a diversified core, rather than going all‑in.
3. Dividend ETFs for income and resilience: SCHD, VYM, VIG, SDY
With bond yields off their peaks and many investors still scarred by inflation, dividend ETFs remain popular as a way to blend income with equity growth.
The Morningstar‑style “high‑dividend shortlist”
A widely shared summary of Morningstar’s “Top High‑Dividend ETFs for Passive Income in 2025” (as of Oct. 17) highlights 12 funds that earn Gold or Silver Medalist ratings and sport above‑market yields. [37]
Key U.S. equity names on that list include:
- Capital Group Dividend Value ETF (CGDV)
- Fidelity High Dividend ETF (FDVV)
- Schwab U.S. Dividend Equity ETF (SCHD)
- SPDR S&P Dividend ETF (SDY)
- Vanguard Dividend Appreciation ETF (VIG)
- Vanguard High Dividend Yield ETF (VYM)
Morningstar expects these to outperform over a full market cycle, but notes that each follows a different strategy (quality screens, payout levels, growth, etc.), so behavior can diverge markedly from both each other and from the S&P 500. [38]
Bankrate’s “Top Dividend ETFs” table
Bankrate’s December update breaks out a “Top dividend ETFs” section that features: [39]
- VIG – dividend‑growth focus (companies with a history of raising payouts), moderate yield, 0.05% fee
- VYM – high‑dividend tilt with broad value exposure and ~0.06% fee
- SCHD – high‑yield U.S. dividend ETF with quality screens and a 0.06% fee
Commentary around these funds generally frames them as:
- VIG – for investors prioritizing stability and growth of dividends
- VYM / SCHD – for investors prioritizing a higher starting yield and a value tilt
Dividend ETFs can be especially useful in a portfolio where you want less volatility than a pure growth tilt but still want long‑term equity appreciation.
4. Small‑cap and value ETFs: IJR, IWM, VTV, IVE
The S&P 500 and NASDAQ‑100 have never been more concentrated in a handful of mega‑cap tech names. That’s great when those names are soaring — less great if leadership shifts.
Analysts at ETF.com and elsewhere have been warning about concentration risk, highlighting factor and value ETFs, as well as diversified‑weight S&P 500 strategies, as ways to rebalance. [40]
iShares Core S&P Small‑Cap ETF (IJR) & iShares Russell 2000 ETF (IWM)
- Type: U.S. small‑cap equities
- Role today:
- Provide exposure to smaller companies that can benefit disproportionately from lower interest rates and domestic economic growth.
- IWM, in particular, saw net inflows of around $3.7B in November after a long period of outflows, suggesting renewed investor interest in beaten‑up small caps. [41]
Value ETFs: VTV, IWD, IVE
- Vanguard Value ETF (VTV), iShares Russell 1000 Value ETF (IWD) and iShares S&P 500 Value ETF (IVE)tilt toward cheaper, more cyclical sectors like financials, industrials and energy.
- ETF.com’s flows data shows IVE bringing in over $4B in November, one of the biggest inflows among U.S. value ETFs. [42]
Together, small‑cap and value ETFs can help counterbalance a growth‑heavy core in VOO/VTI/QQQ, especially if 2026 favors cyclicals and domestic recovery plays.
5. Defensive & alternative ETFs: GLD, SLV, T‑bill ETFs, and crypto
These aren’t “core stock market” funds, but they are key parts of the U.S. ETF landscape today and are heavily influencing flows and sentiment.
Gold and silver ETFs: GLD and SLV
From Bankrate’s commodity ETF table (data as of Nov. 28, 2025): [43]
- SPDR Gold Shares (GLD) – ~60% YTD return; 5‑year annualized in the high teens; 0.40% expense ratio
- iShares Silver Trust (SLV) – ~95% YTD; 5‑year annualized near 20%; 0.50% expense ratio
On December 5:
- Silver is still trading near its record high, after an ~13% surge last week and another ~2–3% gain this week, with ETF inflows at the highest weekly pace since July. [44]
- Gold‑backed ETFs have set a month‑end holdings record, confirming broad institutional and retail demand. [45]
These funds can help hedge inflation, currency risk or tail‑risk scenarios, but their volatility (especially in silver) means they’re usually best as small satellites rather than core holdings.
Cash‑like and T‑bill ETFs: SGOV and peers
ETF.com’s flow tables show huge demand for iShares 0‑3 Month Treasury Bond ETF (SGOV), which has added more than $34B YTD on a base of ~ $65B in assets. [46]
T‑bill ETFs like SGOV and the newer ultra‑short Vanguard funds give investors:
- Yields competitive with savings accounts or CDs
- Intraday liquidity
- Government‑backed credit quality
For some investors, these ETFs are serving as a “high‑yield cash bucket” alongside equity ETFs.
Crypto ETFs: IBIT, ETHA — strictly speculative
Key themes from recent coverage: [47]
- IBIT (iShares Bitcoin Trust) and ETHA (iShares Ethereum Trust) gathered tens of billions in assets since their launches, but November brought multi‑billion‑dollar outflows as Bitcoin and ether sold off sharply.
- ETF.com notes that crypto ETFs remain some of the most volatile products in the ETF universe, with investors frequently whipsawed by rapid drawdowns and rebounds.
- Bank of America’s CIO suggests a 1–4% allocation to digital assets may be appropriate for clients who truly understand and can stomach the risk — and only as part of a diversified portfolio. [48]
- The SEC’s refusal to allow 3x–5x leveraged ETFs (many targeting Bitcoin and single stocks) reinforces the message that high leverage plus volatile underlying assets is a dangerous combination for retail investors. [49]
For most long‑term investors, the “best” ETF lineup is likely core stocks + maybe a small metals or T‑bill sleeve, with crypto approached, if at all, as pure speculation.
6. Notable new U.S. ETF launches this week
Even with the Thanksgiving holiday, new ETFs kept hitting U.S. exchanges. ETF Express counted a wide range of launches from Nov. 27 to Dec. 4, 2025, including: [50]
- Applied Finance IVS US SMID ETF (IVSS) – U.S. small/mid‑cap equity strategy
- Vanguard Core‑Plus Bond Index ETF (BNDP) – a new core bond building block
- Virtus US Dividend ETF (VUS) – a fresh entrant in the U.S. equity income space
- Horizon Small/Mid Cap Core Equity ETF (SMOZ) – another SMID‑cap core option
- Fundsmith Equity ETF (ETFT) – ETF wrapper for Terry Smith’s well‑known quality‑growth strategy
- Franklin Solana ETF (SOEZ) and 2x Long XRP ETF (XRPK) – crypto‑linked thematic and leveraged funds
- Several new buffer and options‑based ETFs targeting defined outcomes or enhanced income
Most of these are interesting but unproven. They lack the trading history, liquidity and scale of giants like VOO, VTI or SCHD. For most investors, today’s “best ETFs” are still the large, low‑cost core products; new launches are more like research projects or precision tools for specific use‑cases.
7. How to actually build a portfolio with today’s best ETFs
Everyone’s situation is different, but here’s a general framework using the funds above.
Step 1: Choose your core U.S. stock ETF(s)
For many long‑term investors, a simple approach is:
- Option A (S&P 500 core):
- 60–80% in VOO, IVV or SPY
- Option B (Total‑market core):
- 60–80% in VTI (or another total‑market ETF like ITOT or SCHB) [51]
This gives you the broad U.S. equity exposure that research and history suggest is the main driver of long‑term returns.
Step 2: Add growth tilts – in moderation
If you’re comfortable with more volatility and want to lean into AI and tech:
- 5–20% across QQQ/QQQM, VUG, IWF or VGT
The key is to avoid doubling up too much: these funds all heavily overweight the same mega‑cap tech names.
Step 3: Layer in dividend and value exposure
For more stability and income:
- 10–30% across SCHD, VIG, VYM, SDY, VTV, IVE, IWD
These can soften drawdowns in a tech‑led sell‑off and provide psychological comfort via regular cash flows.
Step 4: Decide on diversifiers (optional small slices)
- Metals: 2–10% in GLD and/or SLV, if you want inflation/“crisis” hedging
- T‑bill ETFs / ultra‑short bonds: a cash‑like sleeve via SGOV or similar
- Crypto ETFs: at most a very small slice (0–4%), only if you fully accept the possibility of large losses and understand the risks.
These weights are not prescriptions. They’re illustrative of how today’s widely recognized “best ETFs” can fit together logically.
8. Outlook for 2026: Why diversification still wins
Market strategists highlighted in recent Zacks/Nasdaq coverage see a reasonable chance that the S&P 500 could push into the 7,500–8,000 range by the end of next year, driven by strong corporate earnings and ongoing enthusiasm around AI and productivity gains. [52]
At the same time:
- Precious‑metals rallies and record ETF flows into gold and silver suggest investors are hedging against inflation, rate cuts and geopolitical risk. [53]
- Crypto’s violent swings and the SEC’s decision to halt 5x ETFs highlight that speculation is alive and well — but regulators are watching. [54]
All of that reinforces a simple conclusion:
The “best ETFs” today are still broad, low‑cost, diversified index funds — especially VOO, IVV, SPY, VTI, QQQ/QQQM and a handful of high‑quality dividend and value ETFs — with smaller, intentional satellite positions in themes like growth, income, metals, or (for the bravest souls) crypto.
If you start with that core and adjust the satellites to match your time horizon, risk tolerance and income needs, you’ll be far closer to a robust 2026‑ready ETF portfolio than someone chasing whichever leveraged or thematic product happens to be trending this week.
Quick disclaimer
This article is for information and education only. It doesn’t consider your individual circumstances and is not investment, tax or legal advice. ETF investing involves risk, including the possible loss of principal. Always do your own research and consider consulting a licensed financial professional before making investment decisions.
References
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