The FTSE 100 is up an incredible 19% in just 12 months. Over five years, it’s up 44%. There’s a good chance — in this Magpie’s view, at least — that it will keep soaring as value stocks gain momentum.

Investing in a Footsie-tracking exchange-traded fund (ETF) could be a wise strategy to consider in this climate. These index trackers harness the immense capital growth and dividend power of UK blue-chip shares.

Yet I won’t be pursuing this strategy myself. The reason? There are plenty of other ETFs still outperforming the FTSE index today. And what’s more, they have stronger track records over the long term than the FTSE 100.

Here are three top funds I’d rather buy today with cash in my pocket.

Riding the chip boom

The VanEck Semiconductor UCITS ETF holds shares in 25 of the world’s leading tech stocks. We’re talking about the likes of Nvidia, Intel, and AMD.

The growth potential of the semiconductors is enormous, driven by themes including artificial intelligence (AI), telecoms, consumer electronics, and renewable power. As sector profits have boomed, this VanEck fund has surged 120% in value over one year and 336% over the last five.

ASML CEO Christophe Fouquet believes the global chip market could be worth $1.5trn by 2035. Exciting stuff. Just be mindful that worries over an ‘AI bubble’ could lead to some temporary volatility for semiconductor funds like this.

Defence AND cybersecurity

Defence companies are surging as NATO nations restock their arsenals at the fastest rate since the end of the Cold War. HanETF Future of Defence UCITS ETF has rocketed in value, increasing 29% over the past year. Since August 2021 it’s up an impressive 181%.

I actually hold this ETF in my own portfolio. And it’s not just because it holds defence industry giants like FTSE 100-listed BAE Systems. Its 60 holdings also include cybersecurity specialists such as Palo Alto and Crowdstrike.

This way, the fund harnesses two white-hot growth sectors, providing added opportunity and spreading risk more effectively. This reduces the risk of the ETF being badly affected if some holdings suffer setbacks.

A top commodity opportunity?

The iShares Copper Miners UCITS ETF (LSE:MINE) has leapt 25% during the last year, though its longer-term performance versus the FTSE 100 is even more impressive. It’s surged 135% in value over five years.

Copper is a highly cyclical metal. And so prices can move sharply in either direction based on economic conditions. News of soaring global supply can also hit the red metal hard, and with it the share prices of copper stocks.

Yet I’m optimistic the iShares Copper Miners fund — which offers exposure to 43 different metal producers — will continue soaring over the long term. It’s not just that key industries (like renewable energy, data centres, and electric vehicles) are experiencing exponential growth. A dearth of major new mines and expansions at existing projects suggests a supply shortage that could push copper prices through the roof.

The International Energy Agency predicts a copper supply shortfall of 30% by 2035. If so, I expect copper funds like this to keep trouncing the FTSE 100.

Should you invest £5,000 in iShares Copper Miners UCITS ETF right now?

When investing expert Mark Rogers and his team have a stock tip, it can pay to listen. After all, the flagship Twelfth Magpie Share Advisor newsletter he has run for nearly a decade has provided thousands of paying members with top stock recommendations from the UK and US markets.

And right now, Mark thinks there are 6 standout stocks that investors should consider buying. Want to see if iShares Copper Miners UCITS ETF made the list?

Royston Wild owns shares in HanETF Future of Defence UCITS ETF.