Cobalt exchange-traded funds (ETFs) offer exposure to a metal that plays a vital role in modern technology. Cobalt is typically produced as a byproduct of copper and nickel mining and is used across industrial, commercial, and defense applications.
Demand in recent years has been driven largely by electric vehicles, where cobalt is a key ingredient in lithium-ion batteries. As EV adoption grows, long-term demand for cobalt is expected to rise.
Because few companies mine cobalt as a primary product, direct exposure can be hard to find. Cobalt-focused ETFs provide a more diversified way to invest in the sector. Below, we highlight some of the top cobalt ETFs to consider.
Top cobalt ETFs in 2026
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% | $4.1 billion | An ETF that invests in mining and base materials stocks |
iShares MSCI Global Metals & Mining Producers ETF (NYSEMKT:PICK) | 0.39% | $846.6 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% | $92.3 million | A fund focused on stocks in the lithium-ion battery industry |
ProShares S&P Global Core Battery Metals ETF (NYSEMKT:ION) | 0.58% | $4.2 million | An ETF focused solely on companies mining battery metals |
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%.
NYSEMKT: VAW
Key Data Points
The ETF held nearly 110 stocks as of late 2025. It's most heavily weighted toward specialty chemicals (22.8% of the fund's holdings) and industrial gases (20.9%). However, it offers exposure to copper producers (4.1%), many of which also tend to produce cobalt.
The Vanguard Materials ETF offers a modest dividend yield of 1.7% (higher than the S&P 500's yield of around 1.1%), making it an option 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.
NYSEMKT: PICK
Key Data Points
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 -4.02%) and top copper producer BHP Group (BHP -0.71%), which obtains cobalt from its nickel and copper refining activity.
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 nearly 55 battery-related stocks as of late 2025.
NYSEMKT: BATT
Key Data Points
NYSEMKT: ION
Key Data Points
As of late 2025, it held over 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.
Benefits and risks of investing in cobalt ETFs
Investing in cobalt ETFs has pros and cons. Some of the benefits include:
- Growth potential: Demand for cobalt should rise in the future due to its usage in electrodes for batteries.
- Diversification: ETFs can provide broad exposure to companies that mine cobalt and other metals, as well as battery technology companies.
Meanwhile, some of the risks of investing in cobalt ETFs are:
- No pure plays: No mining companies or ETFs focus solely on cobalt because it's a byproduct produced by mining other metals. Because of that, you can't invest specifically in a pure-play cobalt ETF.
- Underperformance potential: An ETF might underperform a mining company with meaningful exposure to cobalt due to its diversification.
How to choose a cobalt ETF
Investors need to consider a few factors to determine which cobalt ETF is right for them, including:
- Investment focus: Since there are no true pure-play cobalt ETFs, investors need to decide whether they want an ETF focused on mining stocks or battery technology to gain exposure to cobalt.
- Fund size: Small ETFs are at risk of closing and returning capital to investors.
- Cost: Investors need to determine whether an ETF's expense ratio is worth it.
The bottom line
Cobalt is a critical input for electric vehicle batteries, but investing directly in the metal is difficult since it’s typically produced as a byproduct of other mining activities. As a result, there are no pure-play cobalt ETFs.
Cobalt-focused ETFs offer a practical alternative by providing diversified exposure to mining and battery-related companies tied to cobalt demand. While returns won’t track cobalt prices perfectly, these funds can make sense for investors who believe in long-term growth in EVs and energy storage and are comfortable with commodity-driven volatility.
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