Betashares Critical Minerals ETF (XMET) Review & Analysis

MER · #393 of 514AUM · Top 50%1Y Return · Top 10%3Y Return · Top 10%
What's new this monthData to 30 September 2026
  • −10.5% in September (total return), behind the median international shares ETF at +0.0%.
  • Investors added a net $7.2m (5.4% of the fund).
  • The unit price closed the month at $14.29, 25% below its 12-month high (range $10.01 to $19.07).

About XMET

XMET is an international shares ETF from Betashares, listed on the ASX since October 2022. With $140m under management it is number 125 of 254 international shares ETFs by size. The management fee is 0.69% a year, about $69 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Its largest holdings are Anglo American plc, Teck Resources Ltd and BHP Group Ltd, and the top 10 make up 54% of the fund. By sector it leans towards materials (100%). Canada is the biggest country exposure at 27%.

Over the past year it returned +26.2%, against +10.4% for the median international shares ETF. With its focus on critical minerals, commodities & resources, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

XMET distributions and dividend dates

The latest distribution was $0.5437 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 16 July 2026. To receive it you need to own XMET before the ex-date.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare XMETCheck overlapBetashares website ↗

Compare XMET with

XMETvsGMTL
Global X Rare Earth and Critical Metals ETF
Fee0.69%0.69%
1 year+26.2%+17.2%
5 yrs p.a.––
Size$140m$12m
Same holdings25%Some overlap
Full comparison →
XMETvsVGS
Vanguard MSCI Index International Shares ETF
Fee0.69%0.18%
1 year+26.2%+10.1%
5 yrs p.a.–+11.8%
Size$140m$18.7bn
Same holdings0%No companies in common
Full comparison →
XMETvsIVV
iShares S&P 500 ETF
Fee0.69%0.04%
1 year+26.2%+10.1%
5 yrs p.a.–+13.4%
Size$140m$14.9bn
Same holdings0%No companies in common
Full comparison →
XMETvsNDQ
Betashares Nasdaq 100 ETF
Fee0.69%0.48%
1 year+26.2%+16.6%
5 yrs p.a.–+15.3%
Size$140m$9.5bn
Same holdings0%No companies in common
Full comparison →

XMET price by TradingView

Stock CodeXMET
Fund ManagerBetashares
Asset ClassInternational shares
AUM$140m
MER (%)0.69%
Net flows (Sep)+$7.2m
Last Price$14.29
52-Week Range$10.01 – $19.07
Bid/Ask Spread0.16%
Listing Date28/10/2022
ExchangeASX
IndexNot yet in our data. See the PDS
Issuer websiteBetashares ↗

Performance (% return)

-11%26%63%99%1M-10.5%1Y26.2%3Y99.2%5Yn/a
1 month−10.5%
1 year+26.2%
3 years p.a.+25.8%
5 years p.a.–

$10,000 invested…

1 year ago$12,6243 years ago$19,921

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

XMET at a glance: strengths and things to watch

👍 Strengths

  • Ahead of its peers. +25.8% a year over 3 years, against +15.4% for the median international shares ETF.
  • Money is flowing in. Investors added a net $7.2m in September (5% of the fund).

⚠️ Things to watch

  • Concentrated. The top 10 holdings make up 54% of the fund, so a few companies drive the result.
  • In a downtrend. Its price has been trending down since 19 October (as at 7 November).

Worked out from XMET's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

Joshua StegaetfadviserTrend check
Downtrend since 19 Oct 2026

XMET is in a downtrend. Here's why that matters.

XMET's price is below its 20-day average and its averages are stacked downward.

Why it matters: Downtrends can run for months, and that is where most big losses happen. For satellite holdings, waiting in cash until the trend turns has often been the better choice.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 daysHow base and trend works →See every ETF's stage →Visit etfadviser.com.au →
Oct 25Jan 26Apr 26Jul 26Oct 26
UptrendBaseDowntrend

XMET weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Themes & Sectors

Critical mineralsCommodities & resources

Portfolio Breakdown

Top 10 holdings (54.1% of the fund)

SymbolCompany% assets
AAL6.14%
TECK6.01%
BHP5.95%
SCCO5.64%
FCX5.59%
ANTO5.39%
LUN5.13%
LYC5.02%
FM4.64%
AG4.64%

Sector breakdown

  • Materials100.0%

Country breakdown

  • Canada26.7%
  • Australia21.5%
  • CL15.1%
  • United States13.9%
  • ZA8.0%
  • MX5.6%
  • Hong Kong2.4%
  • PE1.4%
  • Other5.3%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 43 positions, covering 100% of the fund. Compare XMET's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
WIREGlobal X Copper Miners ETF
27%
0.65%$916m+38.1%+31.0%–
GMTLGlobal X Rare Earth and Critical Metals ETF
25%
0.69%$12m+17.2%+16.7%–
VGSVanguard MSCI Index International Shares ETF
0%
0.18%$18.7bn+10.1%+17.9%+11.8%
IVViShares S&P 500 ETF
0%
0.04%$14.9bn+10.1%+19.2%+13.4%
NDQBetashares Nasdaq 100 ETF
0%
0.48%$9.5bn+16.6%+23.8%+15.3%
QUALVanEck MSCI International Quality ETF
0%
0.40%$9.2bn+10.1%+16.1%+11.4%

Same holdings is the share of XMET's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like XMET →

XMET vs its closest alternatives

What actually differs between XMET and the ETFs most like it. Data to 30 Sep 2026.

WIRE Global X Copper Miners ETF

  • They share 27% of their holdings: some overlap.
  • WIRE is cheaper (0.65% vs 0.69%), worth about $2,568 on $100,000 over 20 years.
  • Over 3 years, a year: XMET +25.8%, WIRE +31.0% (WIRE ahead by 5.2 percentage points).
  • WIRE is about 7 times larger ($916m vs $140m), which usually means tighter trading spreads.

Compare XMET and WIRE side by side →

GMTL Global X Rare Earth and Critical Metals ETF

  • They share 25% of their holdings: some overlap.
  • Both charge the same fee (0.69%).
  • Over 3 years, a year: XMET +25.8%, GMTL +16.7% (XMET ahead by 9.1 percentage points).
  • XMET is much larger ($140m vs $12m), which usually means tighter trading spreads.

Compare XMET and GMTL side by side →

VGS Vanguard MSCI Index International Shares ETF

  • They share 0% of their holdings: mostly different companies.
  • VGS is cheaper (0.18% vs 0.69%), worth about $34,152 on $100,000 over 20 years.
  • Over 3 years, a year: XMET +25.8%, VGS +17.9% (XMET ahead by 7.9 percentage points).
  • VGS is much larger ($18.7bn vs $140m), which usually means tighter trading spreads.

Compare XMET and VGS side by side →

General information only. Past performance is not a reliable indicator of future performance.

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XMET FAQs

What is the fee for XMET?

XMET charges a management fee (MER) of 0.69% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is XMET?

XMET had $140m in funds under management as at 30 September 2026.

How has XMET performed?

XMET returned +26.2% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +25.8% a year. Past performance is not a reliable indicator of future performance.

Who manages XMET?

XMET is managed by Betashares and has been listed since October 2022.

Is XMET franked?

Generally no. XMET invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does XMET hold?

XMET's largest holdings are Anglo American plc (6.1%), Teck Resources Ltd (6.0%), BHP Group Ltd (5.9%), Southern Copper Corp (5.6%), Freeport-McMoRan Inc (5.6%). It holds about 43 investments in total. The biggest sector is materials at 100%. Holdings as at 30 October 2026.

Is XMET currency hedged?

No, XMET is unhedged. Its returns move with the Australian dollar: a falling dollar adds to returns and a rising dollar reduces them.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Betashares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.