Market Trends and ETFs in 2025

2025 kicked off with a sense of hope and optimism following the elections, setting sights on a robust first quarter. But as it turned out, various factors — like China’s aggressive AI initiatives, the struggles of major U.S. tech companies, Trump’s tariffs, ongoing inflation, and persistently high interest rates — impacted the market negatively. After a volatile April driven by tariffs, May brought some stability back.

By mid-year, there was a distinct shift in sentiment as trade tensions began to ease. The Federal Reserve reduced interest rates three times starting in September. Yet, this positive momentum stumbled when the longest U.S. government shutdown significantly slowed economic progress in the fourth quarter, raising alarms about potential overvaluation in the AI industry.

Come mid-December, the AI sector showed a complex mix of both caution and optimism. Oracle faced challenges with its $10 billion data center project in Michigan after financing talks with Blue Owl stalled, which negatively affected tech shares like Nvidia and Broadcom. On the other hand, Micron reported strong earnings and an optimistic demand forecast for AI, which buoyed stocks, showcasing the market’s unpredictable nature.

Despite those challenges, Wall Street had a bright performance in 2025. The SPDR S&P 500 ETF Trust (SPY) saw an 18.1% rise as of December 26, while the NASDAQ 100 weighted ETF (Invesco QQQ Trust, Series 1) surged by 22.3%, and the SPDR Dow Jones Industrial Average ETF (DIA) increased by 15% year-to-date.

In this context, here are some standout exchange-traded funds (ETFs) for 2025.

Silver Miners

iShares MSCI Global Silver and Metal Miners ETF (SLVP) – up 220.3%

Amplify Junior Silver Miners ETF (SILJ) – up 202.1%

This year, silver prices soared due to limited supply and high demand. Factors like Fed rate cuts, a weaker dollar, and increased industrial use fueled this demand. Mining companies, as often seen, tend to amplify moves in the underlying metals. With silver miners thriving, SLVP led the charge in 2025.

Gold Miners

Global X Gold Explorers ETF (GOEX) – up 199.3%

VanEck Junior Gold Miners ETF (GDXJ) – up 190.6%

Gold prices rose nearly 70% this year, driven by lower rates from the Fed, increasing central bank demand, particularly from emerging markets, and gold’s appeal as a safe haven. The trade wars initiated by President Trump further enhanced the attractiveness of gold, creating a favorable landscape for gold mining ETFs.

Platinum

GraniteShares Platinum Trust (PLTM) – up 165.3%

abrdn Physical Platinum Stock ETF (PPLT) – up 165.1%

Recently, platinum futures reached new heights, surpassing $2,400 per ounce. The World Platinum Investment Council forecasts a supply deficit of 692,000 ounces in 2025, marking three consecutive years of shortages. Recovery signs in industrial demand, especially from the automotive sector, coupled with the EU’s potential easing of the internal combustion engine ban in 2035, signal an encouraging outlook.

Investment Areas with Notable Losses in 2025

Now, let’s take a look at some sectors that experienced significant downturns this year.

Marijuana

AdvisorShares MSOS Daily Leveraged ETF (MSOS) – down 49.5%

Marijuana stocks struggled in 2025 as the prospects for U.S. federal reform dimmed. There was little progress regarding legalization or banking access in the first half of the year, and high interest rates didn’t help either. Interestingly, by mid-December, these stocks rebounded on reports suggesting President Trump might ease federal cannabis regulations.

Meme Stocks

Round Hill Meme Stock ETF (MEME) – down 42.6%

Meme stocks, characterized by their volatile nature, were heavily affected in 2025. With various factors such as trade tensions and worries over Big Tech valuations at play, investors seemed to favor steady, profitable companies over those driven by hype.

Volatility

ProShares VIX Short-Term Futures ETF (VIXY) – down 41.9%

VIXY, which tracks the performance of short-term VIX futures, reflects market expectations for fluctuations in U.S. stocks. While it faced some hurdles, Wall Street remained relatively stable in 2025, leading to this ETF’s underperformance this year.