Top-Performing Stock ETFs for the Month

Stock exchange-traded funds, or equity ETFs, are often low-cost, tax-efficient instruments for investors to track popular indexes or leverage experienced manager choices to beat the market. The best ones serve as low-cost building blocks in a portfolio, and unlike open-end mutual funds, all ETFs are traded throughout the day on an exchange.

In November 2024, the top-performing stock ETFs included mid-cap growth funds ARK Innovation ETF ARKK and ARK Space Exploration & Innovation ETF ARKX. Data in this article is sourced from Morningstar Direct.

Screening for the Best-Performing ETFs

To find the month’s best-performing stock ETFs, we screened the ones in the Morningstar US equity category that trade within the United States. We excluded exchange-traded notes and ETFs with less than $100 million in total assets. Within our list, two funds fell into the small growth category, where the average name rose 11.43% in November.

The 10 Best-Performing ETFs for November 2024

1. ARK Innovation ETF ARKK
2. ARK Space Exploration & Innovation ETF ARKX
3. Ballast Small/Mid Cap ETF MGMT
4. Motley Fool Small-Cap Growth ETF TMFS
5. ERShares Private-Public Crossover ETF XOVR
6. Nuveen ESG Mid-Cap Growth ETF NUMG
7. Pacer US Large Cap Cash Cows Growth Leaders ETF COWG
8. American Century US Quality Growth ETF QGRO
9. Invesco Dorsey Wright SmallCap Momentum ETF DWAS
10. Invesco S&P SmallCap 600 Pure Growth ETF RZG

Metrics for the Best-Performing Stock ETFs

ARK Innovation ETF

• Morningstar Rating: 1 star
• Expense Ratio: 0.75%
• Morningstar Category: Mid-Cap Growth

The $6.9 billion ARK Innovation ETF was the best-performing ETF in November, with a 26.37% return. The actively managed ARK ETF beat the 10.99% gain on the average fund in Morningstar’s mid-cap growth category for the month. Over the last 12 months, the ARK Innovation ETF has returned 25.72%, underperforming the 34.62% gain on the average fund in its category, leaving the ETF in the 80th percentile.

The ARK Innovation ETF has a Negative Morningstar Medalist Rating, meaning our analysts expect it to be one of the worst performers within its category and think it is unlikely to deliver positive returns after fees.

ARK Space Exploration & Innovation ETF

• Morningstar Rating: 2 stars
• Expense Ratio: 0.75%
• Morningstar Category: Mid-Cap Growth

The second-best-performing ETF in November was the $285 million ARK Space Exploration & Innovation ETF. The actively managed ARK ETF returned 24.06%, outperforming the average mid-cap growth fund, which gained 10.99%. Looking back over the last 12 months, the ARK Space Exploration & Innovation ETF has returned 40.43%, outperforming the 34.62% return on the average fund in its category, leaving the ETF in the 20th percentile.

The Neutral-rated ARK Space Exploration & Innovation ETF launched in March 2021.

Ballast Small/Mid Cap ETF

• Morningstar Rating: 3 stars
• Expense Ratio: 1.10%
• Morningstar Category: Small Blend

The $166 million Ballast Small/Mid Cap ETF ranked third for the month, returning 15.22%. The Ballast ETF, which is actively managed, topped the 9.94% average return on funds in the small blend category for November. Over the last 12 months, the Ballast ETF has returned 28.97%, behind the 32.75% gain on the average fund in its category, leaving it in the 83rd percentile.

The Ballast Small/Mid Cap ETF, launched in November 2020, has a Medalist Rating of Neutral.

Motley Fool Small-Cap Growth ETF

• Morningstar Rating: 3 stars
• Expense Ratio: 0.85%
• Morningstar Category: Small Growth

With a 13.69% return, the $102 million Motley Fool Small-Cap Growth ETF ranked fourth in November. The actively managed Motley Fool Asset Management ETF outperformed the 11.43% return on the average small growth fund. Over the last 12 months, the fund has gained 42.39%, ahead of the 36.95% return on funds in its category, placing it in the 23rd percentile.

The Motley Fool Small-Cap Growth ETF has a Neutral Medalist Rating. It was launched in October 2018.

ERShares Private-Public Crossover ETF

• Morningstar Rating: 1 star
• Expense Ratio: 0.75%
• Morningstar Category: Large Growth

The fifth-best-performing ETF was the $117 million ERShares Private-Public Crossover ETF, which gained 13.66% in November. This actively managed EntrepreneurShares ETF beat the 7.24% average return on funds in the large growth category. Over the past year, the ERShares Private-Public Crossover ETF rose 49.51%, outperforming the 37.09% return on the average fund in its category and placing it in the 8th percentile.

The ERShares Private-Public Crossover ETF, launched in November 2017, has a Medalist Rating of Neutral.

Nuveen ESG Mid-Cap Growth ETF

• Morningstar Rating: 3 stars
• Expense Ratio: 0.31%
• Morningstar Category: Mid-Cap Growth

The $454 million Nuveen ESG Mid-Cap Growth ETF was the sixth-best-performing US ETF in November, with a 13.47% return. The return on the passively managed Nuveen ETF topped the 10.99% gain on the average fund in Morningstar’s mid-cap growth category. Looking back over the last 12 months, the Nuveen ESG Mid-Cap Growth ETF has returned 30.18%, underperforming the 34.62% return on the average fund in its category, leaving it in the 60th percentile.

The Nuveen ESG Mid-Cap Growth ETF takes environmental, social, and governance criteria into consideration. This fund has a Medalist Rating of Silver.

Pacer US Large Cap Cash Cows Growth Leaders ETF

• Morningstar Rating: N/A
• Expense Ratio: 0.49%
• Morningstar Category: Mid-Cap Growth

The seventh-best-performing ETF in November was the $451 million Pacer US Large Cap Cash Cows Growth Leaders ETF. The passively managed Pacer ETF returned 13.16%, outperforming the average mid-cap growth fund, which gained 10.99%. Looking back over the last 12 months, the Pacer US Large Cap Cash Cows Growth Leaders ETF has returned 48.80%, outperforming the 34.62% return on the average fund in its category, leaving it in the 8th percentile.

The Pacer US Large Cap Cash Cows Growth Leaders ETF has a Medalist Rating of Bronze. It launched in December 2022.

American Century US Quality Growth ETF

• Morningstar Rating: 4 stars
• Expense Ratio: 0.29%
• Morningstar Category: Large Growth

The $1.1 billion American Century US Quality Growth ETF ranked eighth for the month, returning 13.09%. The American Century ETF, which is passively managed, topped the 7.24% average gain on funds in the large growth category. Over the last 12 months, the American Century ETF has returned 44.42%, ahead of the 37.09% return on the average fund in its category, leaving it in the 15th percentile.

The Neutral-rated American Century US Quality Growth ETF was launched in September 2018.

Invesco Dorsey Wright SmallCap Momentum ETF

• Morningstar Rating: 3 stars
• Expense Ratio: 0.60%
• Morningstar Category: Small Blend

With a 12.49% gain, the $1.1 billion Invesco Dorsey Wright SmallCap Momentum ETF ranked ninth in November. The passively managed Invesco ETF outperformed the 9.94% return on the average small blend fund. Over the last 12 months, the fund has returned 37.62%, ahead of the 32.75% return on funds in its category, placing it in the 15th percentile.

The Invesco Dorsey Wright SmallCap Momentum ETF, launched in July 2012, has a Medalist Rating of Silver.

Invesco S&P SmallCap 600 Pure Growth ETF

• Morningstar Rating: 2 stars
• Expense Ratio: 0.35%
• Morningstar Category: Small Growth

The tenth-best-performing ETF was the $120 million Invesco S&P SmallCap 600 Pure Growth ETF, which gained 12.35% in November. The passively managed Invesco ETF performed roughly in line with the 11.43% average return on funds in the small growth category. Over the past year, the Invesco S&P SmallCap 600 Pure Growth ETF rose 35.01%, underperforming the 36.95% return on the average fund in its category and placing it in the 52nd percentile.

The Invesco S&P SmallCap 600 Pure Growth ETF has a Morningstar Medalist Rating of Negative. It was launched in March 2006.

What Are ETFs?

Exchange-traded funds are investments that trade throughout the day on stock exchanges, much like individual stocks. They differ from traditional mutual funds—known as open-end funds—which can only be bought or sold at a single price each day. Historically, ETFs have tracked indexes, but in recent years, more ETFs have been actively managed. ETFs cover a range of asset classes, including stocks, bonds, commodities, and most recently cryptocurrency.

ETFs offer investors an efficient way to gain exposure to the markets, often with low fees and ease of buying and selling. They also generally offer higher tax efficiency than open-end funds.

The Best Stock ETFs: More Ideas to Consider

Investors who would like to find more of the top-performing or cheapest ETFs can do the following:

• Read Morningstar’s guide to ETF investing.
• Explore the best ETFs and how they fit into your portfolio.
• Review the full list of US Stock ETFs. Funds with at least 70% of assets in US stocks are placed within the US equity categories.
• Use the Morningstar Investor Screener tool to find the best ETFs according to your specific criteria. You can search for funds based on their fees, Morningstar Medalist Ratings, manager tenures, and more.
• Use Morningstar Investor to build a watchlist of the best ETFs and easily follow their valuations, ratings, and fees.
• Watch our ETF video series, hosted by Daniel Sotiroff, for ideas to consider.