Oil, cryptocurrency, commodities and Canadian energy dominate this year’s leaderboard. On the U.S. side, a single-coin fund tied to Zcash sits at the top of the screen. Right behind it are two oil-futures funds, BNO and USO, followed by ARKG (genomics) and GSG (a broad commodity basket in which energy carries the most weight). On the Canadian side, two single-stock income ETFs tied to CrowdStrike and AMD share the list with three Canadian energy funds: HXE, NNRG and XEG.
This article covers the five best-performing eligible U.S.-listed ETFs and the five best-performing eligible Canadian-listed ETFs in TradingView screens collected on November 7, 2026. It is not a list of the best ETFs to buy. A fund can top a year-to-date ranking because it holds one hot company, one commodity or one crowded theme. Those are often the funds that fall hardest when sentiment turns. The ranking has already changed sharply since September: several of the funds that led it then have lost a large share of their gains. Chasing last year’s winners is one of the most common and costly mistakes in self-directed investing.
Treat the ranking as a research starting point. It shows where money has been working in 2026. Each fund in it also carries risks: concentration, volatility, valuation and, in several cases, complex strategies.
The Top 10 at a Glance
| Ticker | Country | Investment focus | YTD performance |
|---|---|---|---|
| ZCSH | US | Cryptocurrency (Zcash) | +241.99% |
| BNO | US | Brent crude oil futures | +121.98% |
| USO | US | WTI crude oil futures | +116.88% |
| ARKG | US | Genomics and health technology (active) | +55.49% |
| GSG | US | Broad commodities, energy-heavy | +49.76% |
| CRWY | Can | Single stock + covered calls (CrowdStrike) | +64.71% |
| HXE | Can | Canadian energy index (swap-based) | +49.25% |
| AMDY | Can | Single stock + covered calls (AMD) | +47.22% |
| NNRG | Can | Canadian energy (active) | +45.54% |
| XEG | Can | Canadian energy index | +43.62% |
Source: TradingView, November 7, 2026. YTD figures reflect price performance.
Ranking Methodology
The TradingView screening data was collected on November 7, 2026. Funds were ranked by year-to-date (YTD) price performance using the criteria below.
U.S. screen
- Listed in the United States
- Minimum assets under management (AUM) of US$500 million
- Ranked by YTD performance
Canadian screen
- Listed in Canada
- Minimum AUM of C$100 million
- Ranked by YTD performance
Eligibility rules (both screens)
- Eligible: covered call ETFs, ETFs that use moderate fund-level leverage (such as borrowing about 25% to enhance income and growth), commodity funds and cryptocurrency exchange-traded products.
- Excluded: daily leveraged ETFs (2×, 3×) and inverse products. These funds reset their leverage every day, so their long-term results can differ sharply from the multiple they advertise. They are designed for short-term trading rather than for holding. The excluded funds include MUU, AMDL and LABU in the U.S. screen and HOU in the Canadian screen, all of which appear high in the raw rankings.
This article is for educational purposes only. Before you buy any fund mentioned here, do your own research and consider how much of your own capital you could afford to lose. Nothing here is a recommendation.
Price Return vs. Total Return
The YTD figures in this ranking measure price return: how much the market price of each fund has changed since January 1. They do not include distributions paid to investors along the way. Total return adds those distributions back and assumes they were reinvested.
The distinction matters more for some funds than others:
- Funds that pay little or nothing (ZCSH, BNO, USO, GSG, HXE): price return and total return are generally close, because almost nothing is paid out. HXE is designed so that dividends accumulate inside the unit price rather than being distributed.
- Covered call funds (CRWY, AMDY): these funds pay large monthly distributions. Each payment reduces the fund’s net asset value, so price return can understate what an investor has actually earned. The opposite can also happen: a high distribution can mask a price decline.
- Dividend-paying funds (XEG): the price drops by roughly the amount of each distribution on the ex-dividend date, so price return leaves out the income received.
- Funds that distribute annually (NNRG): if the year’s distribution has not yet been paid, price return and total return will be close until the payment date.
When comparing funds with different distribution policies, total return, published on each issuer’s website, is the fairer measure. A high distribution yield is not the same thing as a high investment return.
Top 5 Best-Performing U.S. ETFs of 2026
1. ZCSH — The Zcash ETF Shares
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| ZCSH | US$35.59 | US$724.31 million | 2.50% | +241.99% |
Objective: ZCSH gives exposure to a single cryptocurrency: Zcash (ZEC). Zcash is a privacy-focused digital currency that lets users shield transaction details using cryptographic proofs. TradingView classifies the fund as a currency product with one holding, long ZEC against the U.S. dollar. The fund is listed on NYSE Arca and completed a 3-for-1 share split effective September 30, 2026. A split changes the share price, not the value of a holding.
The fund is built by Grayscale, an established manager of digital-asset investment products. Its sponsor provides institutional-grade structure, custody arrangements and regulatory filings, which are real advantages over buying and storing a cryptocurrency yourself. The sponsor states, however, that buying the fund is not a direct investment in ZEC.
ZCSH’s gain reflects a powerful rally in Zcash in 2026. Privacy-focused coins attracted renewed interest, and a single-asset fund passes that move straight through to its unitholders.
Risk
An established sponsor does not change what the fund holds. ZCSH is the most concentrated fund on either list: one asset, no earnings, no dividends and no cash flows to anchor its value. The sponsor’s own disclosures warn that the fund carries significant risk and heightened volatility, and that the shares could lose all or substantially all of their value. It is an exchange-traded product, not a fund registered under the Investment Company Act of 1940, so it does not carry the same regulatory protections as a conventional ETF.
Other risks include:
- Crypto prices can reverse quickly after parabolic moves.
- Privacy coins can face regulatory pressure and exchange delistings.
- Large holders selling, or key network contributors leaving, can move the price.
- A 2.50% expense ratio, the highest among the U.S. funds on this list. It applies every year regardless of performance.
- Currency exposure for Canadians, since the fund is priced in U.S. dollars.
A +241.99% year-to-date figure describes a speculative price move, not a durable growth engine. For most investors, a product like ZCSH belongs, if anywhere, in a small position sized for the possibility of a total loss.
2. BNO — United States Brent Oil Fund, LP
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| BNO | US$62.22 | US$733.04 million | 1.00% | +121.98% |
Objective: BNO follows Brent crude, the international benchmark priced off seaborne oil, through futures traded on ICE Futures Europe. Its benchmark is the nearest-expiry Brent contract. Within roughly two weeks of expiry, the benchmark switches to the next month, and the fund moves its positions over about four days. It holds Treasuries and cash as collateral and does not take delivery of oil.
Brent is often the most direct gauge of global supply disruptions. When Middle East tensions push prices up, a Brent-based fund captures that move, and 2026 has delivered exactly that kind of environment.
Risk
Risk — how oil-futures funds work (applies to BNO and USO):
- Roll yield. Futures funds must regularly sell expiring contracts and buy later ones. In contango, later contracts cost more than the expiring one, so each roll means selling cheap and buying dear, which quietly drags on returns. In backwardation, later contracts cost less, and rolling can add to returns. Over long periods, a futures fund’s results can differ substantially from the change in the spot oil price, even when oil itself goes nowhere.
- Concentration and volatility. A single commodity, no diversification and sharp price swings.
- No income. Gains depend entirely on price.
- Event risk. A ceasefire, a supply increase or a demand slowdown can reverse gains quickly. A high YTD figure says nothing about where crude goes next.
- Currency. Canadians also take on U.S.-dollar exposure.
Tax and structure: BNO is a limited partnership, which generally issues a Schedule K-1 rather than the usual tax slips. For Canadian investors, this can raise questions about U.S. tax reporting, possible withholding, T1135 foreign-property reporting when held outside a registered account, and whether the units are appropriate in a registered account. The treatment depends on your situation and your broker’s handling, so confirm the details with your broker and a tax professional before buying.
Brent and WTI usually move together, but the gap between them can widen. Holding both BNO and USO does not spread risk.
3. USO — United States Oil Fund
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| USO | US$148.41 | US$2.05 billion | 0.60% | +116.88% |
Objective: USO does not store barrels of oil. It holds futures contracts, which are standardized agreements to buy crude at a set price on a future date, mainly on West Texas Intermediate (WTI), the North American benchmark. Most exposure sits in the nearest contract months, and the rest of the portfolio is held in Treasury bills and cash as collateral. Each month the fund “rolls” its positions: it sells contracts approaching expiry and buys later ones, so it never takes physical delivery. The goal is to track daily percentage changes in the WTI price.
Oil’s strength in 2026 has been tied largely to the war involving Iran and concerns about Persian Gulf supply. A fund that owns near-term oil futures responds directly to moves like that.
Risk
USO carries the same futures-related risks described under BNO: roll yield, single-commodity concentration, volatility, no income, event risk and currency exposure. Two points distinguish it:
- Cost and size. USO is the larger and cheaper of the two funds, with a 0.60% expense ratio versus 1.00% for BNO.
- Benchmark. It tracks WTI, the North American price, rather than Brent. WTI can react differently to North American supply, pipeline and storage conditions.
USO is also structured as a limited partnership that issues a K-1, so the same Canadian tax and account-suitability questions apply.
4. ARKG — ARK Genomic Revolution ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| ARKG | US$45.45 | US$1.93 billion | 0.75% | +55.49% |
Objective: ARKG is an actively managed fund from ARK Invest. It targets companies working on genomics: gene sequencing, gene editing, molecular diagnostics, synthetic biology and the use of artificial intelligence in drug discovery. The fund holds about 35 stocks. As of October 21, 2026, its largest positions were 10x Genomics, Twist Bioscience, Tempus AI, CRISPR Therapeutics, Natera, Illumina and Guardant Health, and its top ten holdings made up about 58% of the portfolio.
ARKG is the only fund on the U.S. list that is not tied to a commodity or a cryptocurrency. Its 2026 gain shows that investors returned to small and mid-sized health-technology companies, many of which had fallen far from their earlier highs.
Risk
Many of ARKG’s holdings are not yet consistently profitable. Their valuations depend on future breakthroughs, regulatory approvals and access to capital, and they tend to be very sensitive to interest rates. The fund has a history of steep drawdowns: a strong year can follow, or precede, several difficult ones.
Other risks include:
- Active-management risk, since results depend on the manager’s stock selection.
- Concentration in a few positions.
- Clinical-trial and regulatory setbacks that can move individual stocks sharply.
- Currency exposure for Canadians.
ARKG is a high-risk thematic satellite holding, not a diversified health-care fund.
5. GSG — iShares S&P GSCI Commodity-Indexed Trust
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| GSG | US$34.46 | US$995.3 million | 0.75% | +49.76% |
Objective: GSG seeks to track the S&P GSCI Total Return Index through futures contracts on that index, fully collateralized with cash and similar assets. The index covers energy, industrial and precious metals, agriculture and livestock. It is weighted by world production, which gives energy the largest share, historically more than half of the index.
On paper, GSG looks like a diversified commodity fund. In practice, its 2026 result leans heavily on the same oil rally that drives BNO and USO, with some help from metals.
Risk
GSG uses futures, so roll yield affects it the same way it affects the oil funds. Because of its heavy energy weight, it does not diversify much away from oil. It pays no regular income, and commodities can stay flat or fall for years.
GSG is a commodity pool rather than a conventional stock ETF. The issuer provides tax resources related to K-1 and K-3 reporting, so Canadian investors should confirm with their broker which tax documents they will receive and how they apply to their type of account. Currency exposure applies as well.
Top 5 Best-Performing Canadian ETFs of 2026
1. CRWY — Harvest CrowdStrike Enhanced High Income Shares ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| CRWY | C$18.76 | C$120.75 million | Not available | +64.71% |
Objective: CRWY invests in CrowdStrike, a cloud-based cybersecurity company known for endpoint protection, which secures the laptops, servers and cloud workloads that connect to a company’s network. It layers two features on top of plain stock ownership:
- Covered calls. The manager sells call options on up to about half of the position. An option gives the buyer the right to purchase the shares at a set price. The buyer pays a premium, and that premium funds monthly distributions.
- Modest leverage. The fund borrows to hold roughly 25% more CrowdStrike exposure than its net assets, aiming to enhance both income and growth.
Distributions are paid monthly in Canadian dollars. The fund began trading on the TSX in January 2026, so its history is short.
Risk
Risk — how leveraged single-stock covered call funds work (applies to CRWY and AMDY):
- Single-stock concentration. The fund’s fate is tied to one company. It is not a diversified ETF.
- Amplified losses. If the stock falls sharply, the fund falls too, and leverage magnifies the decline. Borrowing also carries an interest cost.
- Capped upside. If the stock surges past the strike price, the fund gives up gains above that level on the covered portion in exchange for the premium already collected. In a strong rally, the fund can lag the stock.
- Limited cushion. In a big decline, the premium only softens the fall.
- Distributions are not a guarantee. Monthly payouts vary and can include income, capital gains and return of capital. A high payout does not mean invested capital is protected, and, as explained above, price return alone does not show what investors actually earned.
Specific to CRWY: it is not a cybersecurity industry fund. It reflects one company’s execution, valuation and news flow. Cybersecurity software stocks can be highly valued, and a single earnings disappointment or service outage can move the share price sharply. TradingView does not show an expense ratio for CRWY, so check the fund’s ETF Facts for its management fee and its full cost, including borrowing costs.
2. HXE — Global X S&P/TSX Capped Energy Index Corporate Class ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| HXE | C$61.28 | C$144.46 million | 0.46% | +49.25% |
Objective: HXE seeks to replicate the total-return performance of the S&P/TSX Capped Energy Index. The index measures Canadian energy companies, mostly oil and gas producers and integrated firms such as Canadian Natural Resources, Suncor and Cenovus. It excludes refining, storage and transportation, and coal companies, and no single issuer can exceed 25% of the index weight.
The fund uses a corporate-class structure and a total-return swap. In a swap, a financial institution agrees to pay the fund the index’s total return, including dividends, in exchange for a fee. The fund does not directly hold the stocks. Because the dividends are accumulated inside the unit price rather than paid out, HXE is generally not expected to make regular distributions. The intent is to turn what would have been dividend income into capital growth, which may be more tax-efficient in a non-registered account, depending on the investor’s circumstances. Tax rules for corporate-class and swap-based structures have changed in the past and can change again, so confirm the fund’s current treatment in its offering documents.
Risk
HXE’s swap adds counterparty risk: if the financial institution failed to deliver, the fund could suffer. Sector concentration is high. A handful of large producers drive results, and their profits depend on oil and natural-gas prices, pipeline access and regulation, including carbon policy. Energy stocks can also lag oil prices during a spike, because markets often price in a lower long-term oil price. HXE’s +49.25% YTD gain is well below USO’s +116.88%, which illustrates that oil and oil stocks are related but not the same.
The lack of regular distributions means little cash flow, which does not suit every investor’s goals.
3. AMDY — Harvest AMD Enhanced High Income Shares ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| AMDY | C$29.96 | C$135.77 million | 2.11% | +47.22% |
Objective: AMDY applies the same enhanced-income design as CRWY to Advanced Micro Devices (AMD), a chip designer known for processors and AI accelerators. It holds AMD shares directly or indirectly, sells covered calls on up to about half of the position and uses roughly 25% leverage. Units trade in Canadian dollars with unhedged U.S.-dollar exposure. Distributions are monthly and vary from month to month.
Risk
AMDY carries the risks described under CRWY: single-stock concentration, amplified losses, capped upside and distributions that are not a guaranteed return. Three points are specific to AMDY:
- A real-time example of concentration risk. On September 20, 2026, AMDY was the top Canadian fund at +107.32% YTD. By November 7, after the sell-off in AI and semiconductor stocks, its gain had shrunk to +47.22%. Leverage amplified the decline.
- Currency. Because the U.S.-dollar exposure is unhedged, swings in the Canadian dollar add to or subtract from results.
- Cost. The 2.11% expense ratio shown by TradingView is high, and fees weigh more heavily over time on funds with complex strategies. Check the ETF Facts to see how the official MER and any borrowing costs are reported.
4. NNRG — Ninepoint Energy Fund Series ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| NNRG | C$85.11 | C$439.37 million | 2.41% | +45.54% |
Objective: NNRG is the ETF series of the Ninepoint Energy Fund, an actively managed fund led by portfolio manager Eric Nuttall. It seeks long-term capital growth by investing mainly in companies involved in oil, gas and uranium, with a focus on mid-sized Canadian energy producers. As of October 30, 2026, its top ten holdings included Cenovus Energy, Strathcona Resources, Spartan Delta, Calfrac Well Services, Cameco, NexGen Energy, Diamondback Energy, Halliburton, SLB and Viper Energy.
Unlike HXE and XEG, NNRG does not follow an index. The manager can concentrate, hold cash and shift between producers, service companies and uranium. As of September 30, 2026, cash and equivalents made up 38.76% of net assets, a sign that the manager can step back from the sector.
Risk
Active management means results depend heavily on the manager’s calls on commodity prices and stock selection. Mid-sized producers tend to be more volatile than the large integrated companies that dominate the energy index. Ninepoint rates the fund’s risk as high.
The cost is also much higher than an index fund’s. TradingView shows a 2.41% expense ratio. According to Ninepoint, the Series ETF carries a 1.50% management fee plus a performance fee of 10% of returns above the S&P/TSX Capped Energy Total Return Index, so the total cost can vary from year to year depending on performance. Distributions are made annually, if any, so the fund does not suit investors who want regular income.
5. XEG — iShares S&P/TSX Capped Energy Index ETF
| Ticker | Price | AUM | Expense Ratio | YTD Performance |
|---|---|---|---|---|
| XEG | C$27.56 | C$2.5 billion | 0.60% | +43.62% |
Objective: XEG tracks the same index as HXE, the S&P/TSX Capped Energy Index, but owns its 27 stocks directly. It is the largest fund on the Canadian list, with about C$2.5 billion in assets. It is a plain, passive product with no options overlay, no leverage and no swap.
HXE vs. XEG: same index, different numbers. The two funds follow the same index, yet HXE shows +49.25% and XEG +43.62% in the ranking. The main reason is how each fund handles dividends:
- XEG distributes. The energy companies in XEG pay dividends to the fund, and the fund passes them on to unitholders. Each time a distribution is paid, the unit price drops by roughly the amount paid out. The cash goes into investors’ accounts, but it no longer shows up in the price, so XEG’s price-based YTD figure leaves that income out.
- HXE accumulates. Through its total-return swap, HXE receives the index’s full return, including dividends, and keeps it inside the unit price. Nothing is paid out, so its price-based figure already reflects the dividends.
In short, HXE’s price chart shows something close to total return, while XEG’s price chart shows only the price component. Comparing their YTD price figures directly therefore tilts the comparison in HXE’s favour. Other factors, such as fees, swap costs and tracking differences, also play a role. To compare the two fairly, use the total-return figures each issuer publishes.
The choice between them often depends on the account and the investor’s needs. XEG provides regular cash flow and avoids swap counterparty risk. HXE aims for tax efficiency in a non-registered account but provides little or no cash flow.
Risk
XEG shares HXE’s sector risks: concentration in a handful of large producers, dependence on oil and gas prices, pipeline access and regulation. Distributions depend on the dividends paid by its holdings and can be cut if commodity prices fall. Because it holds the stocks directly, it avoids swap counterparty risk, but in a non-registered account its distributions are generally taxable in the year they are received.
What These Performances Tell Us About 2026
Oil and Energy
Oil is the dominant story of this ranking. BNO and USO hold the second and third spots in the U.S., GSG gives energy the largest weight in its basket, and three of the five Canadian funds (HXE, NNRG and XEG) are energy funds. Geopolitics has been the driver: the conflict involving Iran and worries about Gulf supply pushed crude sharply higher, and oil-driven inflation has shaped central-bank decisions.
The lesson is that commodity funds can produce very large gains and very large losses depending on events outside anyone’s control.
Cryptocurrency
ZCSH’s +241.99% gain is the largest on either list, and it comes from a single digital asset. It shows how a speculative rally can carry a fund to the top of a ranking, and how little that ranking says about risk. An established issuer can make access easier and more transparent, but it cannot reduce the volatility of the asset itself.
Genomics and Health Technology
ARKG is the only theme on the U.S. list unrelated to commodities or crypto. Its rebound shows that beaten-down growth sectors can recover quickly. It also illustrates that the companies driving the rebound are often the most fragile financially.
Concentrated Single-Stock Income Strategies
CRWY and AMDY sit on the Canadian list because CrowdStrike and AMD performed strongly and the funds added leverage. The same design magnifies drops. Distributions do not signal safety.
How to Integrate These ETFs Into Your Portfolio
These funds are better thought of as possible satellite holdings around a diversified core than as core holdings. A core portfolio built on broad-market ETFs should generally stay separate from thematic or momentum positions, so that one bad theme does not decide your whole outcome. This section is general education, not personalized advice, and it does not suggest allocation percentages.
Growth Profile — Five-Year or Longer Horizon
Long-horizon investors tend to prefer diversified, low-cost funds. In this ranking, XEG is the plainest option: a passive Canadian energy index fund with direct holdings. HXE offers the same index in a structure aimed at tax efficiency for non-registered accounts. Both are still a bet on a single sector. ARKG offers growth exposure outside commodities, but it is a concentrated, volatile theme. CRWY and AMDY are far more concentrated still. Consider whether you could hold through a decline of 40% or more.
Tactical Profile — Momentum and Thematic Positions
BNO, USO and GSG are tactical commodity vehicles, and futures rolling makes them awkward as long-term holdings. ZCSH is a speculative position on a single cryptocurrency, suitable only for capital an investor could afford to lose entirely. NNRG is an active energy fund whose results depend on the manager’s tactical calls. Momentum investors should think about exit rules and position size before buying, because trends can reverse sharply, as AMDY’s fall this fall shows.
Income-Focused Profile
Only some funds here pay regular distributions. AMDY and CRWY pay monthly, but their payouts vary, depend on option premiums and can include return of capital. XEG passes on the dividends of the energy companies it holds, and those dividends can be cut if commodity prices fall. NNRG distributes annually, if at all. HXE is generally not expected to make regular distributions, and the commodity and crypto funds (BNO, USO, GSG and ZCSH) pay no income. Investors seeking dependable income should compare a fund’s distribution with its total return, not just its yield.
Account placement and fees. The tax treatment of these funds varies with their structure (limited partnership, commodity pool, corporate class, swap-based or conventional ETF) and with the type of account. U.S.-listed partnerships, U.S. withholding tax and foreign-property reporting can each affect the net result for a Canadian investor. Fees also vary widely on this list, from 0.46% to 2.50% based on TradingView’s expense ratios. Check each fund’s official documents and, where needed, speak with a tax professional before deciding where to hold it.
Whatever your profile, consider your time horizon and how much loss you can tolerate.
Conclusion
Four forces shaped the November 2026 leaderboard. Oil prices reacted to geopolitical conflict and carried six of the ten funds. A speculative rally in Zcash put a single-coin fund at the top. Investors returned to genomics. And concentrated single-stock strategies using leverage and covered calls stayed near the top in Canada, despite giving back much of their gains. The overlap between funds suggests fewer independent ideas than the ten tickers imply. The gap with the September ranking also shows how quickly today’s leaders can become tomorrow’s laggards.
This ranking is a research starting point, not a buy list. Before adding any of these funds, read the prospectus and ETF Facts, and think about where the fund fits in your plan and how much of a drop you could live with.
