April was marked by wild swings for the U.S. stock market triggered by Trump’s aggressive tariff policies. 

The market took a steep dive in early April following the announcement of the so-called "Liberation Day" tariffs. The Dow Jones plummeted over 4,000 points in two days, marking a 9.5% decline. The S&P 500 and Nasdaq experienced similar drops, with the latter entering bear market territory. Since then, the market has recovered some losses. 

Amid such volatility, a few corners of the stock market have outperformed. We have highlighted five top-performing ETFs from different industries that were the leaders in April. These are Themes Gold Miners ETF AUMI, iShares MSCI Global Silver and Metals Miners ETF SLVP, Global X Defense Tech ETF SHLD, ClearBridge Sustainable Infrastructure ETF INFR and Fidelity MSCI Consumer Staples Index ETF FSTA.

Market Stabilizes

The announcement of a 10% universal tariff on imports, coupled with additional country-specific tariffs — most notably a 145% levy on Chinese goods — triggered a sharp market downturn earlier this month. Major indices like the S&P 500 and Dow Jones Industrial Average experienced substantial losses, entering bear market territory early in the month. However, the latest developments suggest a potential stabilization, leading to a modest stock recovery (read: 5 ETFs Scaling New Highs Amid Market Turmoil). 

Last week, President Donald Trump indicated a potential reduction in the steep tariffs imposed on Chinese imports. At a White House press conference on Tuesday, Trump called the current 145% reciprocal tariffs "too high" and said they would "come down substantially." According to several reports, China might suspend its 125% tariff on some U.S. goods, which boosted market sentiment.

Trump, who criticized Powell by calling him a “major loser,” clarified that he had no plans to oust him before his term ends in May 2026.

As trade tensions eased, the Dow Jones and the S&P 500 logged their sixth consecutive winning session since July and November, respectively. With the latest gains, the S&P 500 is down just 0.9% this month while the Dow Jones is on pace for a 3.5% decline. The tech-heavy Nasdaq Composite Index has risen about 0.9%.

Let’s dig into the details of the abovementioned ETFs:

Themes Gold Miners ETF (AUMI) – Up 21.2%

The trade tariff disputes and recessionary fears have spurred demand for the yellow metal as a safe-haven investment. Gold topped $3,500 per ounce for the first time ever last week but took a breather as trade tensions eased. Themes Gold Miners ETF seeks to track the Solactive Global Pure Gold Miners Index, which identifies the largest 30 companies by market capitalization, deriving their revenues from gold mining. It holds 30 stocks in its basket, with Canadian firms accounting for more than half of the portfolio, followed by Australian firms with a 29.9% share (read: Gold Dazzles: Amplify Returns With Leveraged ETFs). 

Themes Gold Miners ETF has accumulated $13 million in its asset base. It charges 35 bps in fees per year and trades in a lower average daily volume of 15,000 shares.

iShares MSCI Global Silver and Metals Miners ETF (SLVP) – Up 5.9%

Silver also rose, following the yellow metal. Factors like monetary easing, a weakening dollar and industrial demand for solar and electronics drove the growth, with expectations for continued strength in 2025. Beyond its safe-haven appeal, silver benefits from its dual nature as both a precious and an industrial metal. iShares MSCI Global Silver and Metals Miners ETF follows the MSCI ACWI Select Silver Miners Investable Market Index, providing investors exposure to 27 companies that derive the majority of their revenues from silver exploration or metals mining. iShares MSCI Global Silver and Metals Miners ETF has an AUM of $274.2 million and an average daily volume of about 213,000 shares. It charges 39 bps in annual fees. 

Global X Defense Tech ETF (SHLD) – Up 5.8%

Defense companies have been among the best-performing stocks in April, driven by expectations of fiscal stimulus and soaring defense spending. With AUM of $1.6 billion, Global X Defense Tech ETF seeks to invest in companies positioned to benefit from the increased adoption and utilization of defense technology. It tracks the Global X Defense Tech Index and holds 37 stocks in its basket. Global X Defense Tech ETF charges 50 bps in annual fees and trades in an average daily volume of 791,000 shares (read: ETF Winners Amid Wall Street's Best Week Since 2023).

ClearBridge Sustainable Infrastructure ETF (INFR) – Up 5.5%

Being a low-beta sector, utility is relatively protected from large swings (ups and downs) in the stock market and is thus considered a defensive investment or safe haven amid economic or political turmoil. ClearBridge Sustainable Infrastructure ETF seeks capital appreciation and income by investing in a portfolio of 30 equity securities of infrastructure companies with attractive valuation, distributions and cash flow characteristics that meet ClearBridge's sustainability criteria at the time of investment. It has accumulated $11.4 million in its asset base while trading in a volume of 3,000 shares per day on average. ClearBridge Sustainable Infrastructure ETF charges 59 bps in annual fees. 

Fidelity MSCI Consumer Staples Index ETF (FSTA) – Up 3%

Being defensive in nature, the consumer staples sector generally sees steady demand in the event of an economic downturn due to its low level of correlation with the economic cycles. It generally acts as a safe haven amid political and economic turmoil. Fidelity MSCI Consumer Staples Index ETF offers broad exposure to the consumer staples sector by tracking the MSCI USA IMI Consumer Staples Index and holds 104 stocks in its basket. Fidelity MSCI Consumer Staples Index ETF has amassed $1.3 billion in its asset base while trading in a good volume of around 190,000 shares a day, on average. FSTA charges 8 bps in annual fees from investors and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.

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Global X Defense Tech ETF (SHLD): ETF Research Reports

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

Fidelity MSCI Consumer Staples Index ETF (FSTA): ETF Research Reports

Themes Gold Miners ETF (AUMI): ETF Research Reports

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