BetaShares Australian Resources ETF (QRE) $8.66

The QRE is made up of the likely resource names, along with ~12% in oil & gas but this hasn’t managed to rein in the ETF’s stellar performance since April, with gold and copper stocks exerting an increasing influence as they surge ever higher. At this stage of the cycle, we see no reason to fight the trend, believing the ETF can add to its +53% advance, but if we are correct around gold, for example, some consolidation is likely into early 2026.

As this leg higher by the ASX resources stocks extends, we would rather be focusing on specific, more granular areas such as copper and lithium as volatility is likely to increase when some consolidation/profit taking does unfold – remember we received a warning in October when gold plunged ~$US500 in just two weeks, a move that has already been forgotten by many.

• We can see QRE ETF punching above $9 in the coming weeks.