Looking for safe havens to buy as the stock market sells off? Here are two top exchange-traded funds (ETFs) to consider that I think could provide shelter for weary investors.

Gold prices have fallen a little below the $2,900 per ounce marker following recent bouts of profit-taking. The yellow metal is now up 10% in the year to date, having visited fresh record highs near $2,960 late last month.

Can gold resume its stratospheric rise? I think so, which is why the WisdomTree Physical Precious Metals (LSE:PHPP) ETF is worth serious consideration.

Safe-haven bullion rises during periods of extreme economic and/or political uncertainty. It also appreciates when inflationary threats increase. Therefore it’s benefitting from the cocktail of disruption from the White House on issues of trade and foreign policy,

Investors can buy pure gold funds to capitalise on rising market tension. But the WisdomTree Physical Precious Metals ETF offers a different approach, with just under 63% tied up in gold.

Silver (21%), platinum (11%) and palladium (5%) account for the rest of the fund.

This weighting can give investors the best of both worlds. Each of these metals can rise when investors are fearful. But the latter three can also appreciate when confidence in the global economy improves, reflecting their additional role as industrial commodities.

As a consequence, the fund provides a great way for investors to hedge their bets.

Precious metals funds like this are also benefitting from a fall in the US dollar, making it effectively cheaper to buy buck-denominated securities. Remember though, that a turnaround in the value of the greenback could have an eroding effect on metal prices.

VanEck Defence

My second selection is the the VanEck Defence ETF (LSE:DFNG). With European nations vowing to hike weapons spending — a continental €800bn rearmament plan is currently in the works — revenues across the sector look poised for further significant growth.

This ETF tracks a selection of industrial shares. It consists of 28 companies that derive a minimum of 50% of revenues from military-related operations, and includes industry titans like Thales, Leonardo, Saab and Palantir Technologies.

By investing in this fund, investors can profit from industry-wide growth while avoiding the risks of picking single shares. This could be crucial given the defence industry’s competitive landscape.

It’s worth remembering, though, that the fund might not provide protection from sector-wide hazards (like fresh trade tariffs on production costs).

ETFs like this charge a management fee (in this case, the ongoing charge is 0.55%). However, tthe ongoing management fee could be justified by the fund’s reduced risk and diverse investment opportunities.

Furthermore, investors here don’t have to pay Stamp Duty when opening or building a position. The same cannot be said for purchasing shares in BAE Systems, Rolls-Royce or other non-Alternative Investment Market (AIM) shares listed on the London stock market.

As stock markets shake, I think a lump sum investment in the resilient defence sector or in precious metals is worth considering.