The 8 Best Performing ETFs of the Last 10 Years

For long-term investors, the past decade has been a masterclass in the power of innovation, growth, and sticking to a strategy. While broad market indexes like the S&P 500 have delivered impressive returns, certain Exchange-Traded Funds (ETFs) have simply been in a league of their own. These funds, often concentrated in the most explosive sectors of the economy, have turned consistent investments into significant wealth.

But which ETFs were the true champions? We’ve sifted through the data, analyzed the trends, and compiled a list of the top-performing, non-leveraged ETFs that have demonstrated outstanding growth over the last 10 years (from mid-2015 to mid-2025). For a deeper dive into any fund, you can visit our comprehensive ETF Research Center.

A Crucial Disclaimer: This article is for informational purposes only and is not financial advice. Past performance is not a guarantee of future results. The economic and market conditions that propelled these funds may not be repeated in the next decade. Always conduct your own research and consider consulting with a financial advisor.

The Key Theme: Technology’s Unstoppable Rise

As you’ll see, one theme overwhelmingly dominates this list: Technology. From the megacap giants that define our daily lives to the semiconductor companies powering the AI revolution, technology-focused ETFs have provided the lion’s share of returns.

Here are 8 of the best-performing ETFs of the last decade.

1. Invesco QQQ Trust (QQQ)

• Approx. 10-Year Annualized Return: 18.5%
• Expense Ratio: 0.20%
• Investment Thesis: Often called the “Q’s,” this ETF tracks the NASDAQ-100 index, which comprises the 100 largest non-financial companies listed on the Nasdaq stock exchange. It’s a who’s who of technology and growth innovators, including Apple, Microsoft, Amazon, NVIDIA, and Alphabet. Its heavy concentration in these mega-cap tech stocks was the primary driver of its stellar performance. You can explore more about QQQ on our dedicated page.
• Who It’s For: Investors seeking aggressive growth and direct exposure to the leaders of the digital economy.

2. Vanguard Information Technology ETF (VGT)

• Approx. 10-Year Annualized Return: 21.5%
• Expense Ratio: 0.10%
• Investment Thesis: While QQQ holds some non-tech companies, VGT is a pure-play technology sector fund. It tracks an index of nearly 300 U.S. technology companies, offering slightly broader diversification within the tech world. Its ultra-low expense ratio means more of the returns stay in your pocket. Its performance has been fueled by the same tech titans as QQQ, plus strong performers in software and IT services.
• Who It’s For: Investors who want dedicated, broad exposure to the entire U.S. technology sector at a very low cost.

3. iShares Semiconductor ETF (SOXX)

• Approx. 10-Year Annualized Return: 26%
• Expense Ratio: 0.35%
• Investment Thesis: If technology was the winning sector, semiconductors were the sector’s MVP. SOXX provides targeted exposure to the companies that design, manufacture, and sell semiconductors. These chips are the brains behind everything from smartphones and data centers to electric vehicles and artificial intelligence. The insatiable demand for more powerful chips, supercharged by the AI boom, has led to explosive growth for companies like NVIDIA, AMD, and Broadcom, catapulting SOXX to the top of the performance charts.
• Who It’s For: Investors with a high-risk tolerance who believe the demand for computing power and AI will continue to accelerate.

4. Vanguard Growth ETF (VUG)

• Approx. 10-Year Annualized Return: 15.5%
• Expense Ratio: 0.04%
• Investment Thesis: VUG offers a slightly more diversified approach than a pure-tech fund. It tracks an index of large-cap U.S. companies that exhibit strong growth characteristics (e.g., higher earnings growth). While it is still heavily weighted towards technology, it also includes fast-growing companies from other sectors like consumer discretionary (think Tesla) and healthcare. Its rock-bottom expense ratio makes it a go-to for low-cost growth exposure.
• Who It’s For: Investors looking for a core holding to capture the growth side of the U.S. stock market without being 100% concentrated in technology.

5. Health Care Select Sector SPDR Fund (XLV)

• Approx. 10-Year Annualized Return: 11.5%
• Expense Ratio: 0.09%
• Investment Thesis: Proving it wasn’t only about tech, the healthcare sector has been a bastion of steady, impressive growth. XLV invests in the largest healthcare companies in the S&P 500, including pharmaceutical giants, biotechnology innovators, and healthcare equipment providers. Driven by an aging global population, medical breakthroughs, and the sector’s defensive qualities, XLV has been a consistent and powerful performer.
• Who It’s For: Investors seeking long-term growth from a non-tech sector with strong demographic tailwinds.

6. Vanguard Consumer Discretionary ETF (VCR)

• Approx. 10-Year Annualized Return: 14%
• Expense Ratio: 0.10%
• Investment Thesis: This ETF focuses on companies that sell non-essential goods and services, and its incredible performance over the decade can be largely attributed to two names: Amazon and Tesla. These two giants redefined retail and automotive industries, respectively, and their massive growth lifted the entire fund. VCR is a powerful bet on the strength of the consumer and industry disruption.
• Who It’s For: Investors who believe in the long-term power of consumer spending and market-disrupting companies.

7. iShares S&P 500 Growth ETF (IVW)

• Approx. 10-Year Annualized Return: 15%
• Expense Ratio: 0.18%
• Investment Thesis: Similar to VUG, IVW focuses on the growth-oriented stocks within the S&P 500. It tracks the S&P 500 Growth Index, selecting companies with the strongest growth characteristics based on sales growth, earnings change-to-price ratio, and momentum. It’s another excellent way to tilt a portfolio towards the market’s most dynamic companies.
• Who It’s For: Investors who want to stick to the well-known S&P 500 universe but overweight the companies responsible for most of its growth.

8. Schwab U.S. Dividend Equity ETF™ (SCHD)

• Approx. 10-Year Annualized Return: 12%
• Investment Thesis: Hold on—isn’t this a “best performing” list? While SCHD‘s total return doesn’t match the high-flying tech funds, its inclusion is critical. It is arguably the best-performing ETF when considering its strategy: high-quality, dividend-growing companies. It tracks an index focused on financial strength and a record of consistent dividend growth. Its risk-adjusted returns have been exceptional, providing a smoother ride with less volatility than pure growth funds. For many, its combination of capital appreciation and a growing income stream represents a phenomenal long-term performance.
• Who It’s For: Investors seeking a core holding focused on quality, rising dividends, and strong risk-adjusted returns.

What We Learn from the Decade’s Winners

1. Growth Outperformed Value: The last decade was unequivocally dominated by the “growth” investment style over the “value” style.
2. Concentration Paid Off: The ETFs that performed best were often more concentrated in a single sector (Tech, Semiconductors) or theme (Growth) than the broader market. Since many of these funds invest in the same mega-cap tech stocks, you can find ETFs that overlap if you don’t want to invest in all of them and create unintended concentration.
3. Mega-Caps Led the Charge: A handful of trillion-dollar companies were responsible for a disproportionate amount of market gains, and these ETFs provided heavy exposure to them.
4. Low Costs Matter: Many of the top performers from Vanguard, Schwab, and iShares feature incredibly low expense ratios, ensuring that investors kept more of their returns.

As you build your portfolio for the next 10 years, consider the lessons from the past. While technology may continue to lead, diversification remains the only free lunch in investing. Balancing aggressive growth funds with quality-focused ETFs like SCHD or broad market index funds is a prudent strategy for long-term success.