Which are the best funds to invest in gold?
Updated:
25 AUG, 2026
Gold has had an eventful 2026. After closing 2025 above $4,300 an ounce on contained real rates, steady central bank buying and geopolitical uncertainty, the metal fell over 25% between March and June before staging a recovery – it ended a four-month losing streak in July, gaining roughly 2%, and has extended that rally into August, rising more than 5% and pushing back above $4,600/oz.
Investor appetite has mirrored that volatility. According to the World Gold Council, global physically backed gold ETFs saw two consecutive months of outflows through May and June before rebounding with $3 billion of net inflows in July – led by European-listed funds – bringing year-to-date global inflows to roughly $11 billion. North America remains the only region still in net outflow for the year, while Asia has led cumulative demand.
Against this backdrop, fund selection matters more than ever. Gold mining equities offer leveraged exposure to the gold price, but 2026 has shown just how wide the dispersion between funds can be – some names are up more than 20% year-to-date, while others are in negative territory despite gold’s overall gains. Below are five of the most relevant gold funds to watch right now, ranked by year-to-date performance.
Funds to invest in gold in 2026
Konwave ESG Gold Equity Fund – B EUR
An actively managed Luxembourg equity fund combining gold and precious metals equity exposure with a rigorous ESG framework – one of the few gold equity funds with a genuine sustainability focus. The portfolio skews toward mid- and small-cap miners, selected on financial fundamentals and ESG criteria, offering higher growth potential (and volatility) than large-cap peers. Its Article 8 SFDR classification makes it relevant for ESG-aware portfolios seeking sector-specific diversification.
Franklin Gold and Precious Metals Fund – A (acc) EUR
Managed by Franklin Templeton’s dedicated precious metals equity team, this fund invests globally across gold, silver and platinum miners, spanning both established producers and emerging growth names. Its EUR-hedged accumulating share class is convenient for European investors managing currency risk. A strong option for investors seeking a globally diversified gold equity fund backed by a large, established manager.
DJE – Gold & Ressourcen – I EUR
Managed by Munich-based DJE Kapital, this strategy takes a broader resources view than pure-play gold funds, adding silver, copper and other natural resource equities alongside gold miners. It combines a macro-driven top-down overlay with bottom-up stock selection, aiming to capture both gold’s role as a store of value and cyclical trends across commodities. A strong option for investors wanting gold exposure through a wider commodity lens.
CM-AM Global Gold – RC
A concentrated SICAV benchmarked against the NYSE Arca Gold Miners Index, with sector concentration above 90% in basic materials and geographic weighting toward North America. Despite lagging peers in 2026, its Article 8 SFDR classification and five-year track record keep it relevant for investors wanting core gold equity exposure with a responsible investment overlay from an established French manager.
R-co Gold Mining – C EUR
Aims to outperform the NYSE Arca Gold Miners Index over the long term, with over 90% exposure to basic materials and a heavy Canada/US weighting. It does not apply ESG criteria systematically (SFDR Article 6), prioritising pure financial performance. The fund’s underperformance this year is a reminder that stock selection within gold mining can diverge meaningfully from the broader gold price trend.
Considering gold funds in 2026
Gold mining equities typically offer leveraged exposure to the gold price – when gold rises, producers with fixed cost structures benefit disproportionately. But 2026’s wide performance dispersion within the same category underscores that “buying gold” through equities is not a single, uniform bet: manager approach, market-cap bias, ESG mandate and regional exposure all matter. Investors should approach this asset class with a minimum five-year horizon and accept that double-digit swings – in either direction – are a recurring feature, not an exception.
Data provided by Morningstar (via Finect) and the World Gold Council.
This article is for informational purposes only and does not constitute financial advice.
