March was a pretty volatile month for Wall Street, with the S&P 500 slipping into correction territory on March 18 — its first since 2023 — after falling 10% from its February peak. As the month nears its end, the index is down 4.4%, while the Nasdaq Composite has fallen 6.7%, and the Dow Jones Industrial Average has declined 2.7%.

The ongoing trade uncertainty under the new administration has raised concerns about growing inflation and a slowing economy in the United States. Escalation in geopolitical tensions also added to the woes. The volley of recent data also pointed to a slowdown in the economy.

Although the Fed reaffirmed its forecast for two rate cuts this year in its latest meeting, it also signaled expectations of higher inflation and slower economic growth. This has fueled increased market volatility and uncertainty. As a result, investors have shifted toward risk-off trading, boosting demand for safe-haven assets and lower-risk investments.

Against this backdrop, below we highlight a few top-performing exchange-traded funds (ETF) areas of March.

Gold Miners

VanEck Junior Gold Miners ETF GDXJ – Up 17.5%

Global X Gold Explorers ETF GOEX – Up 16.8%

In particular, the mining sector has been in the spotlight, with gold and silver stocks being the winners. A falling greenback aided the commodity price in March as commodities are priced in the U.S. dollar. The safe-haven attributes of gold and silver also boosted their appeal. Since mining stocks act as leveraged plays on the underlying metals, gold mining stocks were the best-performers in the month.

Silver Miners

iShares MSCI Global Silver Miners ETF SLVP – Up 15.4%

Amplify Junior Silver Miners ETF SILJ – Up 15.4%

Most silver-based ETFs hovered around a 52-week high in March. A declining interest rate environment has boosted demand for gold and silver, as these metals do not yield interest, making them more attractive than alternatives like bonds.

Plus, silver has extensive uses in key industrial applications. As the global economy is strengthening, rising industrial and manufacturing demand is driving silver prices higher. If this was not enough, the silver market is now on track for its fifth consecutive year of deficit in 2025, making the prices more lucrative (read: Are Silver ETFs Better Plays Than Gold Now?).

Greece

Global X MSCI Greece ETF GREK – Up 15.3%

Greek stocks are gaining popularity among investors. Greece has steadily recovered from its 2009 debt crisis, with borrowing costs now lower than Italy and France, and banks fully privatized. Greek stocks are undervalued compared with Wall Street and offer higher dividend yields.

Copper

United States Copper Index Fund CPER – Up 11.4%

The underlying SummerHaven Copper Index Total Return reflects the performance of the investment returns from a portfolio of copper futures contracts on the COMEX exchange.

Copper metal miners have surged lately, given the surge in the metal’s price. Expectations of increased demand, stimulus measures in China and supply-chain disruptions have pushed up copper prices (read: Top ETF Areas of Q1 of 2025).

Poland

iShares MSCI Poland ETF EPOL – Up 11.3%

 After years of lagging, international stocks have outperformed U.S. markets. Inflation concerns and new tariffs have shifted investor interest abroad, driven by solid European fundamentals. With historically wide valuation gaps, international stocks appear attractive (read: Europe ETFs Beating S&P 500 in 2025: Here's How).

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VanEck Junior Gold Miners ETF (GDXJ): ETF Research Reports

Global X MSCI Greece ETF (GREK): ETF Research Reports

iShares MSCI Poland ETF (EPOL): ETF Research Reports

Amplify Junior Silver Miners ETF (SILJ): ETF Research Reports

iShares MSCI Global Silver and Metals Miners ETF (SLVP): ETF Research Reports

Global X Gold Explorers ETF (GOEX): ETF Research Reports

This article originally published on Zacks Investment Research (zacks.com).

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