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Investing in natural resources companies is always a smart long-term strategy. These companies’ products are always in demand, and their value usually doesn’t come down as they are scarce. The natural resources industry includes companies that deal in the extraction of commodities, including metallic ore, sand, gravel, coal and oil shale.

One of the best ways to invest in such companies is through natural resources funds. These funds invest across a variety of such companies to offer broad natural resources exposure. Let’s take a look at the top ten natural resources funds. We have referred to the past one-year return numbers from money.usnews.com to rank the top ten natural resources funds.

10. VanEck Global Resources Fund (GHAAX, 27.78%)

VanEck Global Resources Fund normally invests in companies that get profits from hard assets, including precious metals and natural resources. It has returned almost 4% in the last three months and more than 11% in the last three years.

GHAAX has more than $763 million in total assets, and its top four holdings are: Pioneer Natural Resources (PXD), Freeport-McMoRan (FCX), Hannon Armstrong Sustainable Infrastructure Capital (HASI), and First Quantum Minerals (FQVLF).

9. Fidelity® Select Materials Portfolio (FMFAX, 28.26%)

Fidelity Advisor® Materials Fund primarily invests in the companies that make, mine, process or distribute raw materials and intermediate goods. It has returned almost 1% in the last three months and more than 15% in the last three years. FMFAX has more than $1.1 billion in total assets, and its top four holdings are: Linde PLC (LIN), Sherwin-Williams (SHW), Freeport-McMoRan, and Air Products & Chemicals (APD).

8. ICON Natural Resources and Infras Fd (ICBMX, 31.02%)

ICON Natural Resources and Infrastructure Fund usually invests in the equity securities of companies that are natural resources- and/or infrastructure-focused. It has returned more than 2% in the last three months and over 14% in the last three years.

ICBMX has more than $126 million in total assets, and its top four holdings are: Chart Industries (GTLS), Diamondback Energy (FANG), Delek US Holdings Inc Registered Shs Stock Settlement (DK), and Atlantica Sustainable Infrastructure PLC (AY).

7. BlackRock Natural Resources Trust Fund (MDGRX, 31.42%)

BlackRock Natural Resources Trust normally invests in the equity securities of companies having considerable natural resource assets. It has returned almost 4% in the last three months and almost 11% in the last three years. MDGRX has more than $184 million in total assets, and its top four holdings are: TotalEnergies SE (TTE), Chevron (CVX), Glencore PLC (GLCNF), and Royal Dutch Shell PLC B (RDS-B).

6. GMO Resources Fund (GOFIX, 34.61%)

GMO Resources Fund, under normal market conditions, invests a minimum of 80% of its assets in the securities of companies in the natural resources sector. It has returned over 1% in the last three months and almost 19% in the last three years.

GOFIX has more than $1.8 billion in total assets, and its top four holdings are: Royal Dutch Shell PLC, Bradespar SA Participating Preferred, Glencore, and Clean Energy Fuels (CLNE).

5. PGIM Jennison Natural Resources Fund (PGNAX, 36.93%)

PGIM Jennison Natural Resources Fund usually invests in the equity and equity-related securities of natural resource companies and in asset-based securities. It has returned over 5% in the last three months and over 13% in the last three years. PGNAX has more than $700 million in total assets, and its top four holdings are: ConocoPhillips (COP), PDC Energy (PDCE), Devon Energy (DVN), and Diamondback Energy.

4. BNY Mellon Natural Resources Fund (DNLAX, 38.2%)

BNY Mellon Natural Resources Fund primarily invests in growth and value stocks that provide exposure to natural resources and natural resources-related sectors. It has returned almost 10% in the last three months and over 13% in the last three years. DNLAX has more than $507 million in total assets, and its top four holdings are: Occidental Petroleum (OXY), Freeport-McMoRan, The Mosaic (MOSWI), and Devon Energy.

3. Franklin Natural Resources Fund (FRNRX, 41.72%)

Franklin Natural Resources Fund mainly invests in the equity and debt securities of companies operating in the natural resources industry. It has returned over 10% in the last three months and almost 1% in the last three years. FRNRX has more than $272 million in total assets, and its top four holdings are: Franklin IFT Money Market, Chevron, ConocoPhillips, and Exxon Mobil (XOM).

2. Goehring & Rozencwajg Resources Fund (GRHIX, 77.75%)

Goehring & Rozencwajg Resources Fund normally invests in the securities of natural resources companies and other securities offering exposure to natural resources companies. It has returned almost 15% in the last three months and over 10% in the last three years.

GRHIX has more than $121 million in total assets, and its top four holdings are: Range Resources, National Atomic Co Kazatomprom JSC ADR, Cameco (CCJ), and Pioneer Natural Resources.

1. Victory Global Energy Transition Fund (RSNRX, 99.37%)

Victory Global Energy Transition Fund usually invests in companies that its sub-adviser, SailingStone Capital Partners LLC, considers to be principally engaged in the natural resources industry. It has returned over 16% in the last three months and over 11% in the last three years.

RSNRX has more than $278 million in total assets, and its top four holdings are: Turquoise Hill Resources, Range Resources (RRC), Antero Resources (AR), and Whitecap Resources (SPGYF).