Is there a tungsten ETF?
No. As of November 2026, there is no pure-play tungsten ETF and no exchange-traded fund that tracks the tungsten price. The closest option is the VanEck Rare Earth and Strategic Metals ETF (REMX), where four tungsten companies make up about 11% of the fund; the rest is mainly lithium, rare earth and other strategic metals companies.
Most pages that rank for "tungsten ETF" are fund factsheets that never say how much tungsten a fund holds. This guide does: we went through the published holdings of each fund that tungsten investors are usually pointed to and calculated its actual tungsten weighting.
For every route into tungsten, not just funds, see our guide on how to invest in tungsten.
How much tungsten is in each critical minerals ETF?
| Fund (ticker, listing) | Tungsten holdings | Tungsten weight | Per US$10,000 invested | Fee | Holdings date |
|---|---|---|---|---|---|
| VanEck Rare Earth and Strategic Metals ETF (REMX, NYSE Arca) | Xiamen Tungsten 4.77%, Almonty 3.18%, EQ Resources 2.33%, Jiaxin 0.76% | ~11.0% | ~US$1,100 | 0.53% | 11 Nov 2026 |
| VanEck Rare Earth and Strategic Metals ex China ETF (RESM, ASX) | Almonty 5.97%, EQ Resources 2.77% | ~8.7% | ~US$870 | 0.59% | 12 Nov 2026 |
| WisdomTree Efficient Rare Earth Plus Strategic Metals Fund (WDIG, Cboe) | Almonty ~1.1% | ~1.1% | ~US$110 | 0.55% | Nov 2026 |
| iShares S&P/TSX Global Base Metals Index ETF (XBM, TSX) | Almonty ~0.9% | ~0.9% | ~US$90 | — | Nov 2026 |
| Sprott Critical Materials ETF (SETM, Nasdaq) | None | 0% | US$0 | 0.65% | 12 Nov 2026 |
| Global X Disruptive Materials ETF (DMAT) | None identified | 0% | US$0 | — | 11 Nov 2026 |
Sources: issuer holdings pages for REMX, RESM, SETM and DMAT; TipRanks for WDIG and XBM. Weights change daily. "Per US$10,000" is the approximate amount that ends up in tungsten companies. Fees are each issuer's published net expense ratio or management fee.
Three things stand out:
- Even the most tungsten-heavy fund is about 89% other metals. A REMX holder is mainly exposed to lithium (Albemarle, SQM, Pilbara), rare earths (China Northern Rare Earth, Lynas, MP Materials) and molybdenum.
- Not all of that 11% is pure tungsten. Xiamen Tungsten, the largest tungsten holding in REMX, also makes battery materials and rare earth products. The two holdings that are essentially tungsten miners, Almonty and EQ Resources, add up to about 5.5%.
- Origin varies. Xiamen Tungsten mines and refines in China, and Jiaxin's Boguty mine is in Kazakhstan with Chinese state-linked shareholders. Almonty (South Korea and Portugal) and EQ Resources (Australia and Spain) mine outside the countries covered by the US defence rule that starts in 2027. See the DFARS tungsten rule explained.
REMX: the closest thing to a tungsten ETF
REMX tracks the MVIS Global Rare Earth/Strategic Metals Index and has been listed since October 2010. Key facts from VanEck:
| REMX | Detail |
|---|---|
| Total net assets | ~US$1.43 billion (12 Nov 2026) |
| Holdings | 32 companies plus cash |
| Net expense ratio | 0.53% |
| Largest country weights (31 Oct 2026) | China 29.2%, Australia 24.2%, US 19.0% |
| Distributions | Annual; distribution yield 2.54% (12 Nov 2026) |
| Return, year to 31 Oct 2026 | −31.37% (NAV) |
REMX suits investors who want diversified exposure to strategic metals and accept that tungsten is a minor part of it. It does not suit someone who wants a position that moves with the tungsten price.
UK and European investors can buy the VanEck Rare Earth and Strategic Metals UCITS ETF, which tracks the same index. It trades on the London Stock Exchange as REGB (sterling) and REMX (US dollars), and on Xetra as VVMX, with a 0.59% fee. Unlike the US fund, it reinvests income rather than paying distributions. Its tungsten holdings are similar: on 10 November 2026 it held Xiamen Tungsten (4.81%), Almonty (3.22%) and EQ Resources (2.46%) among its top 25 positions.
RESM: tungsten exposure without Chinese companies
VanEck launched the Rare Earth and Strategic Metals ex China ETF (RESM) on the ASX in August 2026. It follows a version of the REMX index that excludes companies incorporated in China and businesses earning less than 50% of revenue from rare earths and strategic metals.
Removing Xiamen Tungsten and Jiaxin raises the weight of the remaining tungsten miners: Almonty is RESM's sixth-largest holding at 5.97%, and EQ Resources is 2.77%. The catch is size. RESM had about A$3.9 million in assets on 12 November 2026, so trading volumes are low and bid–ask spreads can be wide. It is also only available to investors with access to the ASX.
Funds that sound relevant but hold little or no tungsten
- Sprott Critical Materials ETF (SETM): about US$414 million in assets across 155 holdings. Its material breakdown at 31 October 2026 was copper (28%), uranium (24%), silver (17%), lithium (16%), rare earths (11%) and small amounts of nickel, manganese, graphite and recyclers. No tungsten.
- Global X Disruptive Materials ETF (DMAT): focused on copper, platinum-group metals, lithium, rare earths and cobalt. We found no tungsten specialist in its published holdings.
- WisdomTree Efficient Rare Earth Plus Strategic Metals Fund (WDIG): launched in May 2026, combining mining shares with metals futures. WisdomTree lists its focus metals as aluminium, cobalt, copper, lead, lithium, nickel, platinum, silver, tin, zinc and rare earths, not tungsten, and Almonty is about 1% of the portfolio.
- Broad mining and defence ETFs: Almonty appears in several, including iShares S&P/TSX Global Base Metals (about 0.9%) and iShares Defense Industrials Active (about 0.1%), but at weights too small to matter for tungsten exposure.
Why there is no tungsten ETF
Three features of the tungsten market make a dedicated fund hard to build:
- No futures market. Gold, silver and copper ETFs either hold the metal or use exchange-traded futures. Tungsten is sold as concentrate or APT (ammonium paratungstate) under private contracts, priced off agency assessments, so there is nothing liquid for a fund to track. See how the tungsten price works.
- Few investable companies. China mined about 79% of the world's tungsten in 2025, according to the USGS, and its largest producers are state-owned groups or trade on mainland Chinese exchanges. Outside China, only a handful of producers are listed, several of them small. An index fund needs enough liquid constituents to diversify.
- The metal is impractical to store as an investment. A physically backed fund needs a recognised bar standard and an active market to buy and sell it. Tungsten has neither for investors; see is tungsten a good investment? for why physical tungsten makes a poor store of value.
ETFs don't follow the tungsten price
Critical-minerals funds trade on investor sentiment towards the whole sector, not on the tungsten price. In the year to 31 October 2026, REMX fell 31.37% and SETM fell 14.71%, according to VanEck and Sprott. Over the same period, European APT was still quoted at US$2,500–3,100 per mtu (metric ton unit, 10 kg of WO₃), close to record levels, according to Shanghai Metals Market.
The difference comes from what the funds hold. REMX's largest positions are lithium and rare earth companies, so their prices matter far more to the fund than tungsten does.
Alternatives to a tungsten ETF
| Approach | Tungsten exposure | Diversification | Main drawback |
|---|---|---|---|
| REMX or its UCITS version | ~11% | High (30+ companies) | Mostly lithium and rare earths |
| RESM (ASX) | ~9% | Medium (25 companies) | Very small fund, ASX access needed |
| A basket of listed tungsten stocks | High | Low to medium | Single-company risk, thin trading |
| One tungsten producer | Very high | None | Operating and price risk in one stock |
| Pre-IPO tungsten company | Very high | None | Illiquid until listing, high risk |
Some investors build their own "tungsten basket" of several listed producers and developers in different countries. Our list of tungsten stocks groups them by stage and listing, and our ranking of tungsten mining companies shows who produces at scale. None of these companies is a recommendation.
Where Pure Tungsten fits
Pure Tungsten Inc. is a private company, so it is not held by any ETF. It is restarting the Ssangjon mine in South Korea, which has a fully built mill, with production targeted for Q4 2026 at 1,000 tonnes a year. It is also advancing Maykhura in Tajikistan with TALCO: about 2 million tonnes at 0.93% WO₃ plus about 900,000 tonnes of tailings at about 0.4% WO₃, with a JORC (Joint Ore Reserves Committee) report expected in Q1 2027. Its target is 4,000 tonnes a year by 2028.
Pure Tungsten is raising C$10 million at C$0.80 per share (minimum C$5,000, about C$240 million pre-raise valuation) ahead of a planned IPO or reverse takeover in London or New York in H2 2027. Pre-IPO shares are illiquid and high risk: a listing can be delayed, and restart projects can face ramp-up, metallurgy and funding challenges. Read about Pure Tungsten's IPO plans, follow other listings in our tungsten IPO tracker, or request the Pure Tungsten investor pack.
How to check an ETF's tungsten exposure yourself
- Open the issuer's daily holdings list, not a third-party summary, which can be weeks out of date.
- Search for the tungsten names: Xiamen Tungsten, Almonty Industries, EQ Resources, Jiaxin International, Masan High-Tech Materials, Tungsten West, Guardian Metal Resources and other names in our tungsten stocks list.
- Add up their weights and multiply by the amount you plan to invest to see how much actually goes into tungsten.
- Check where each company mines. Chinese and non-Chinese producers can behave very differently under export controls and US defence rules.
- Compare fees, fund size and trading volume. A small fund can have wide spreads that cost more than its fee.
This article is general information, not investment advice. Fund holdings and weights change daily; check the issuer's latest data before investing.