Which are the best funds to invest in gold?
Updated:
3 JUN, 2026
By Joanna Piwko from RankiaPro Europe
In 2025, gold established itself as one of the best performing assets in the macro universe. Supported by contained real rates, recurring central bank purchases, and elevated geopolitical uncertainty, the yellow metal surpassed its all-time high and closed the year above $4,300 an ounce.
Gold funds remain in the spotlight in 2026 — but the year has been anything but smooth. As of end of May 2026, the peer group has delivered a year-to-date return of +5.1%, a figure that masks dramatic intra-year swings. The market opened with exceptional momentum, with the group surging +31.2% in the first two months of the year, before giving back a significant portion of those gains with a sharp decline of approximately -21% in March and April. Since then, performance has broadly stabilised.
YTD return (end May 2026)
+5.1%
Peak gain (Jan–Feb)
+31.2%
Drawdown (Mar–Apr)
−21%
Net flows 2026
€538M
Investor flows tell a similarly volatile story. Gold funds attracted net inflows of approximately €538 million year-to-date, representing around 2.4% of assets under management — but the distribution was extremely uneven. January saw a powerful burst of subscriptions (€+1.16 billion), followed by two consecutive months of net redemptions in February (€−831 million) and March (€−118 million), before flows turned modestly positive again in April and May. This pattern reflects the behaviour of investors caught off guard by the mid-year correction after a strong start.
Against this backdrop, fund selection matters more than ever. While the overall trend remains constructive — gold continues to play a key role as a portfolio diversifier — performance and strategies vary significantly across the universe. In the sections below, we highlight the six most relevant gold funds to consider right now.
In this article we analyze some of the most interesting funds belonging to this category, based on the recent data provided by Arandis.
Funds to invest in gold in 2026
Konwave ESG Gold Equity Fund - B EUR
Konwave ESG Gold Equity Fund – B EUR is an actively managed equity fund domiciled in Luxembourg that combines targeted exposure to gold and precious metals equities with a rigorous ESG investment framework. The fund invests primarily in gold mining and related companies, selected on the basis of both financial fundamentals and Environmental, Social, and Governance (ESG) criteria — making it one of the few gold equity funds with a genuine sustainability focus.
The portfolio has a global reach with a bias toward mid- and small-cap mining companies, which historically offer higher growth potential but also greater volatility relative to large-cap peers. This bottom-up, fundamentally driven approach targets companies with strong operational profiles and responsible business practices.
Konwave ESG Gold Equity Fund is well suited for long-term investors seeking gold equity exposure aligned with ESG principles, particularly those looking beyond the large-cap gold majors. The fund's Article 8 SFDR classification makes it relevant for ESG-aware portfolios seeking sector-specific diversification.
R-co Gold Mining - C EUR
| ISIN | YTD Return | 5-year Return |
|---|---|---|
| FR0007001581 | +19.81% | +4.47% |
Date: 01.06.2026
R-co Gold Mining – C EUR is an actively managed equity fund structured as a SICAV domiciled in France and managed by Rothschild & Co Asset Management, one of Europe's most respected independent investment houses. The fund aims to outperform the NYSE Arca Gold Miners Index over the long term by investing in companies engaged in the exploration, extraction, and processing of gold and precious metals worldwide.
The portfolio typically allocates at least 60% of assets to gold mining equities, combining large international mining companies with selective exposure to smaller, high-growth firms. The result is a concentrated, high-conviction strategy with over 90% exposure to the basic materials sector and strong geographic weighting toward Canada and the United States.
R-co Gold Mining does not systematically apply ESG criteria (SFDR Article 6), prioritising pure financial performance. Its strong recent track record — including a top-tier YTD return of +15.95% — makes it an appealing choice for performance-focused investors with a long-term horizon of five years or more.
DJE – Gold & Ressourcen – I EUR
DJE – Gold & Ressourcen – I EUR is an actively managed fund managed by DJE Kapital AG, a Munich-based asset manager with a long track record in commodity and precious metals investing. Unlike more concentrated pure-play gold funds, this strategy takes a broader view of the resources universe, investing not only in gold mining companies but also in silver, copper, and other natural resource equities — offering a degree of diversification within the hard assets space.
The fund combines a macro-driven top-down overlay with bottom-up stock selection, seeking to benefit from both structural demand for gold as a store of value and cyclical trends in broader commodities markets. Its institutional share class (I EUR) targets professional and institutional investors, typically offering lower costs relative to retail equivalents.
DJE – Gold & Ressourcen is a strong option for investors who want gold equity exposure with a wider commodity lens, or those seeking to diversify within the precious and base metals space within a single, professionally managed vehicle.
Franklin Gold and Precious Metals Fund – A (acc) EUR
Franklin Gold and Precious Metals Fund – A (acc) EUR is managed by Franklin Templeton, one of the world's largest and most experienced asset managers, with a dedicated specialist team covering gold and precious metals equities. The fund invests globally in companies engaged in the mining, processing, and exploration of gold, silver, platinum, and related metals, with a portfolio that typically spans both established major producers and emerging growth companies.
The fund follows an active, research-intensive approach, drawing on Franklin Templeton's extensive global analyst network to identify undervalued opportunities across the mining value chain. Its EUR-hedged accumulating share class makes it convenient for European investors who wish to reinvest returns while managing currency risk.
Franklin Gold and Precious Metals Fund offers the reassurance of a blue-chip asset manager's resources applied to a specialist niche. It is well positioned for investors seeking a globally diversified gold equity fund with strong institutional backing and a long-established investment process.
CM-AM Global Gold – RC
CM-AM Global Gold – RC is an actively managed equity fund structured as a SICAV domiciled in France and managed by Crédit Mutuel Asset Management. The fund seeks long-term capital growth by investing in a concentrated portfolio of global companies linked to gold mining and precious metals production, using a selective, fundamentals-driven investment process.
The strategy focuses on gold producers and related businesses — with sector concentration typically above 90% in basic materials — and is benchmarked against the NYSE Arca Gold Miners Index. Geographic allocation is weighted toward North America (particularly Canada and the United States), where the majority of listed gold majors and mid-caps are headquartered.
Consistent with its Article 8 SFDR classification, the fund integrates ESG criteria into the investment process as a complementary factor rather than the primary driver of stock selection. This makes CM-AM Global Gold – RC an appealing option for investors who want core exposure to gold equities alongside a responsible investment overlay, managed by a well-established French asset manager with deep expertise in the sector.
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, amplifying returns versus holding physical gold or gold ETFs. This leverage — combined with the diversification benefits of gold as an asset class in an environment of elevated geopolitical risk and uncertain monetary policy — continues to make gold equity funds a relevant consideration for long-term investors.
However, the volatility experienced in 2026 underscores the importance of fund selection and time horizon. Investors should approach this asset class with a minimum five-year horizon and an understanding that drawdowns of 20% or more — as seen in early 2026 — are a recurring feature, not an exception.
Data provided by:
Arandis makes fund analysis and comparison simple, clear, and accessible. Their platform supports asset managers, fund of funds, family offices, and fund selectors to refine their strategic investment decisions. As data collection experts, they developed a robust and innovative architecture to deliver the highest quality of information.
This article is for informational purposes only and does not constitute financial advice.
