Go on a Shopping Spree With 3 Top Retail ETFs

Key Points

• Americans spent a record $11.8 billion shopping online on Black Friday this year, up more than 9% YOY.
• Investors looking for broad exposure to the online retail space heading into the holiday season might consider a dedicated e-commerce ETF.
• ONLN, EBIZ, and IBUY are three retail ETF's that offer different perspectives on e-commerce.

Heading into the holiday season, it's not clear how broad economic and consumer concerns will impact spending. However, if Black Friday 2025 is any indication, online retailers are likely to do well. Consumers across the country spent a record $11.8 billion online on Black Friday this year, with a particular focus on video game consoles, electronics and home appliances.

While brick-and-mortar store traffic remains soft, the surge in e-commerce spending highlights a shift in shopping behavior. For broad access to the retail world during the busiest shopping season of the year, consider these three exchange-traded funds (ETFs) focused on the online retail space. 

Targeted E-Commerce Focus With a Special Interest in Amazon

For investors looking for a fund that tracks companies primarily operating in the e-commerce space, the ProShares Online Retail ETF NYSEARCA: ONLN is a worthy option.

ONLN has a condensed portfolio including around 20 names, with more than three-quarters of assets invested in U.S. online retailers and the majority of the remainder focused on Chinese companies.

Despite its largest holding—Amazon.com Inc. NASDAQ: AMZN—returning under 6% year-to-date (YTD), ONLN has gained more than 32% YTD, aided by broader market strength and strong performance from other holdings. Amazon makes up roughly a quarter of ONLN’s portfolio, so investors already holding Amazon stock may want to monitor for overexposure.

Investors might appreciate ONLN for its access to e-commerce companies based in China, including major names like Alibaba Group Holding Ltd. NYSE: BABA and PDD Holdings Inc. NASDAQ: PDD. At an expense ratio of 0.58%, ONLN may be a bit pricey for some investors—but this year's returns will likely make those costs worthwhile.

Diversified Global E-Commerce Access, But Low Volumes

The Global X E-commerce ETF NASDAQ: EBIZ takes a more diversified approach. Rather than focusing solely on online retailers, it includes platform providers, software firms, and service companies that support the e-commerce ecosystem.

U.S. stocks represent just under 40% of the total asset base, with Chinese companies accounting for about 25%. Canada, Japan, Singapore, and many other countries also have representation.

EBIZ has a portfolio of about 42 stocks, with assets more evenly distributed across its holdings than ONLN's.

While it is dominated by large-cap companies, approximately 30% of assets are invested in mid-, small-, or micro-cap firms. So far in 2025, this mix has generated returns of a market-beating 18%.

With an expense ratio of 0.50%, EBIZ is slightly cheaper than ONLN. However, low assets under management (AUM)—just $52 million—and a thin one-month average trading volume of around 7,400 shares could pose liquidity concerns for active traders.

Broadest Portfolio With an Emphasis on Mid- and Small-Cap Names

With an expense ratio of 0.65%, the Amplify Online Retail ETF NYSEARCA: IBUY is the priciest fund on this list.

Given that IBUY also has the lowest returns of these three funds—under 14% YTD, trailing the S&P 500—it might seem a less obvious choice than the others. 

However, IBUY's key advantage is its diversification, as the fund includes more than 80 global e-commerce companies across the retail, marketplace, travel, and omnichannel corners of the market.

IBUY also has the most even market cap distribution, with more than half of its invested assets focused on mid- and small-cap names combined.

This makes IBUY a good option for investors looking for e-commerce companies outside of the biggest firms in the business.