Cobalt exchange-traded funds (ETFs) are investment vehicles that focus on holdings of stocks involved in cobalt mining. This common element is typically a byproduct of refining copper or nickel and has widespread uses. Cobalt is essential for many commercial, industrial, and military applications.
However, a big demand driver in recent years has been its use in electric vehicles (EVs). The leading use of cobalt is in electrodes for rechargeable lithium-ion batteries. As more automakers electrify their vehicles, the demand for cobalt should rise.
Many mining companies extract cobalt for commercial purposes, though few focus specifically on the metal. That can make it hard for investors to choose the best option to take advantage of the potential growth in cobalt demand to support EVs. Investors may want to consider taking a broader approach by investing in an exchange-traded fund (ETF) with exposure to the cobalt sector.
Here's a closer look at some of the top ETFs to consider buying to capitalize on the expected rise in cobalt demand.
Top cobalt ETFs
Investing in top cobalt ETFs in 2025
Since cobalt is obtained by mining other metals, no ETF focuses solely on the metal. However, investors can invest in this essential element through various mining stocks and base materials ETFs.
| Exchange Traded Fund | Annual Expense Ratio | Assets Under Management | Description |
|---|---|---|---|
| Vanguard Materials ETF (NYSEMKT:VAW) | 0.09% | $3.9 billion | An ETF that invests in mining and base materials stocks |
| iShares MSCI Global Metals & Mining Producers ETF (NYSEMKT:PICK) | 0.39% | $792.5 million | An ETF that holds a portfolio of metal and material mining stocks from around the world |
| Amplify Lithium & Battery Technology ETF (NYSEMKT:BATT) | 0.59% | $66.2 million | A fund focused on stocks in the lithium-ion battery industry |
| ProShares S&P Global Core Battery Metals ETF (NYSEMKT:ION) | 0.58% | $2.4 million | An ETF focused solely on companies mining battery metals |
1. Vanguard
1. Vanguard Materials ETF
The Vanguard Materials ETF is a large fund that focuses on companies producing base materials and metals. It offers broad exposure to the material sector (including cobalt) for a very low ETF expense ratio of 0.09%.
The ETF held more than 110 stocks as of mid-2025. It's most heavily weighted toward specialty chemicals (23.5% of the fund's holdings) and industrial gases (21.6%). However, it offers exposure to copper producers (4.8%), which also tend to produce cobalt.
The Vanguard Materials ETF offers a modest dividend yield of 1.8% (higher than the S&P 500's yield of less than 1.5%), making it an ideal choice for investors seeking passive investment income. Although it's not a pure play on cobalt, this ETF is lower risk because it offers broader exposure to the entire materials sector.
2. iShares
2. iShares MSCI Global Metals & Mining Producers ETF
If you're interested in a more direct investment in mining stocks, the iShares MSCI Global Metals & Mining Producers ETF is a top choice. Like the Vanguard Materials ETF, this fund is not a pure play on cobalt. Its portfolio consisted of more than 225 global mining stocks as of mid-2025.
The iShares MSCI Global Metals & Mining Producers ETF has top holdings in some of the world's largest cobalt producers. Notable names include Glencore (GLNCY -1.76%) and top copper producer BHP Group (BHP -0.93%), which obtains cobalt from its nickel and copper refining activity.
3. Amplify
3. Amplify Lithium & Battery Technology ETF
The Amplify Lithium & Battery Technology ETF also isn't a direct investment in cobalt. The fund focuses more on battery technology, which is a key driver of cobalt demand. The small ETF held more than 55 battery-related stocks as of mid-2025.
Amplify's offering has a diverse list of stocks involved in the development and manufacturing of lithium-ion battery technology. It also holds metal mining and production stocks that provide the raw materials used in the manufacturing of batteries. As of mid-2025, cobalt stocks comprised 3.6% of the fund's investments. It also counted notable cobalt producer BHP Group among its top five holdings.
4. ProShares
4. ProShares S&P Global Core Battery Metals ETF
The ProShares S&P Global Core Battery Metals ETF is a relatively new fund that started trading in late 2022. It's a tiny fund with minimal assets under management, making it very risky. However, it's the first ETF to invest only in companies that mine metals for batteries.
As of mid-2025, it held almost 50 companies. Many of its top holdings are lithium stocks. However, it also owns shares in top global mining companies, such as BHP Group and Glencore, which produce some cobalt. Given its focus on battery metals, the stocks in the ETF have lots of growth potential as EV adoption accelerates.
Related investing topics
ETFs offer exposure to cobalt and more
Since cobalt is a byproduct of other mining activities, investing directly in the element outside of specific mining stocks isn't easy. Cobalt prices are also likely to be volatile, as supply and demand fluctuate from year to year. Investing in an ETF, along with other metal and base materials stocks, could be a top way to play this key ingredient in EVs and batteries.
