VanEck Rare Earth and Strategic Metals ex China ETF (RESM) — Review & Analysis

RESM is VanEck's newly launched rare earth and strategic metals ETF, listed on the ASX on 4 August 2026 at a 0.59% management fee. It's the first ASX-listed thematic ETF built specifically around the ex-China rare earth supply chain — a deliberate play on Western governments' push to secure critical mineral supply outside Chinese processing. The fund holds a concentrated 25 stocks across rare earth miners, refiners and recyclers plus lithium, antimony, titanium and battery-metal producers. It sits alongside GMTL (Global X Rare Earth & Critical Metals) and XMET (Betashares Critical Minerals) as the ASX's specialised critical-minerals options — GMTL is the direct peer at 0.69% MER, while XMET (0.69%) casts a broader net across the full critical-minerals complex. RESM launched at ~$4.5m AUM in September 2026, so it's still tiny.

To compare RESM side-by-side with every other ETF on the ASX, see the full ETF directory.

RESM is a highly concentrated single-theme ETF. The top 10 holdings make up roughly 77% of the fund, led by MP Materials (10.8%), Lynas Rare Earths (10.3%), Almonty Industries (10.0%), SQM (9.8%) and Pilbara Minerals (9.7%). By ticker domicile the exposure is mainly US and Australian miners with meaningful positions in Chile (SQM), Taiwan, Canada, the Netherlands and France. What's not in the fund is as important as what is — no Chinese miners or processors, which is why RESM's fees run higher than a plain critical-minerals basket: the ex-China universe is genuinely smaller. Small caps dominate — several holdings including Iperionx, Arafura, Standard Lithium and NioCorp are exploration-stage or early-production names, which is why VanEck flags this as a very-high to extremely-high risk allocation.

RESM pays distributions annually with an optional DRP available through MUFG's Investor Centre. Because the top 10 holdings account for three-quarters of the fund, expect stock-specific volatility to dominate returns — a single earnings miss from MP Materials or Lynas will move the fund meaningfully. There's no franking-credit table yet since the fund is only weeks old, and the international-heavy holdings mean franking will be limited even once distributions start. Currency is unhedged, so returns will move with AUD strength or weakness against the USD in particular.

RESM is a targeted way to play the Western critical-minerals supply-chain rebuild without going through Chinese processors. If you believe defence, AI, semiconductor and energy-transition demand will keep pulling rare earth and strategic-metal prices higher — and that ex-China supply commands a premium — RESM is a credible thematic satellite at 0.59%. For a broader critical-minerals basket that includes copper miners and doesn't screen out China, see XMET. For a pure copper-miner play, see WIRE. For a pure battery-metals theme, see ACDC. For our full breakdown of every commodity-related ETF on the ASX, read Commodity & Resource ETFs on the ASX.