The war in Iran sent S&P/ASX 200 Index (ASX: XJO) shares and exchange-traded funds (ETFs) dramatically lower in March.
After a steep 9.1% drop between 27 February and 23 March, the ASX 200 recovered a bit to finish the month down 7.8%.
In April so far, ASX 200 shares are 1.05% higher after the US signalled yesterday that it may be out of Iran within two or three weeks.
James Gerrish from Shaw and Partners says the "war fear" in the market is now fading.
While the road out may be volatile, Gerrish and his Market Matters team are bullish on ASX 200 shares for the rest of the year.
In fact, they think the ASX 200 could re-test its all-time high of 9,200.9 points later in the year, if the Iran situation is resolved soon.
In his Market Matters newsletter today, Gerrish has named 3 ETFs to buy before the rally really gets started.
Image source: Getty Images
3 ASX ETFs to buy today: expert
Global X Copper Miners ETF (ASX: WIRE)
The WIRE ETF is $122.42 apiece on Thursday, down 1.2% today and down 17.9% over the past month.
The Market Matters team is targeting $30 for this exchange-traded fund over the next year or so.
The experts said:
Copper (Cu) has experienced a volatile few weeks as the Iran conflict brought into question global economic growth, even though it's underpinned by structural demand from industrial uses, particularly global electrification and the AI buildout.
At MM, we remain firm believers in the Cu story over the coming years and last month increased our exposure to Sandfire Resources Ltd (ASX: SFR) and bought Evolution Mining Ltd (ASX: EVN) to increase our exposure to the industrial metal in the Active Growth Portfolio after the sector's 32% correction from its late January high.
A close above $24 would be a bullish technical trigger.
VanEck Gold Miners ETF (ASX: GDX)
This ASX gold ETF is $137.67 per unit, up 0.6% today and down 19% over the past month.
The Market Matters team is targeting the $160 area for the GDX ETF through 2026.
They said:
The GDX ETF gained more than 4% on Wednesday, though the move felt stronger locally with most ASX gold miners rallying 6–8%.
After a ~35% correction, the sector appears to have completed the anticipated washout following its surge to fresh highs in 2026.
We believe the broader uptrend remains intact, although a period of consolidation around ~$150 would not be surprising.
A close above $142 would be a bullish technical trigger.
BetaShares Global Uranium ETF (ASX: URNM)
This ASX uranium ETF is $12.28 per unit, down 0.6% today and down 7.9% over the past month.
The Market Matters team said they like the URNM ETF after a 29% pullback, and remain constructive on the uranium sector.
They commented:
At MM, we believe nuclear power is the obvious clean energy source that works today, with US big tech agreeing, as they pour money into Small Modular Reactors (SMRs).
Nuclear power accounts for ~10% of global electricity generation today with demand set to rise substantially over the coming years as AI usage ratchets up.
With the uranium market transitioning into a structural tightening phase, and a high probability of deficit emerging later this decade, the URNM ETF should push higher in the coming years.
A close above $12.60 would be a bullish technical trigger.
