GNR
SPDR S&P Global Natural Resources ETF
SPDR S&P Global Natural Resources ETF is an exchanged-traded fund incorporated in the United States. The Fund seeks to track the performance of the S&P Global Natural Resources Index which tracks the global natural resources and commodities businesses.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 5.2 B
ASSETS UNDER MGMT
40 bp
EXPENSES
Fund Basics
| Inception date | Sep 13, 2010 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Semi-annual |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SHELL PLC | 5.7 % |
| EXXON MOBIL HOLDING CORP | 5.4 % |
| BHP BILLITON LTD | 4.5 % |
| NUTRIEN LTD. | 4.3 % |
| TOTAL SA | 3.7 % |
| CHEVRON CORP | 3.1 % |
| UPM-KYMMENE OYJ | 3.0 % |
| NEWMONT MINING CORP | 2.6 % |
| BP PLC | 2.5 % |
| VYLOR INC | 2.3 % |
Constituent Breakdown
| Number of holdings | 91 |
| Herfindahl-Hirschman Index | 217 |
| Wgt avg mkt cap (mns) | $119,114 |
| Large cap (>$10bn) | 83.5% |
| Mid cap ($2-10bn) | 9.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 90.4% |
| Emerging mkts. | 5.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 34.0 % |
 |
CANADA | 17.1 % |
 |
BRITAIN | 9.4 % |
 |
AUSTRALIA | 7.3 % |
 |
FINLAND | 4.4 % |
 |
FRANCE | 3.7 % |
 |
BRAZIL | 3.0 % |
 |
SWITZERLAND | 2.9 % |
 |
NORWAY | 2.4 % |
 |
JAPAN | 1.9 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 19.0% | 24.9% | 13.3% | 9.9% | 7.6% | 6.6% | -- | 2.4% |
| Dividend Yield | 1.4% | 3.5% | 3.9% | 3.8% | 4.0% | 3.6% | -- | 3.1% |
| Total Returns | 20.4% | 28.4% | 17.2% | 13.7% | 11.6% | 10.2% | -- | 5.5% | Ann. Volatility | 18.7% | 17.9% | 18.2% | 17.5% | 20.1% | 21.8% | -- | 21.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.61 | 19% |
| MSCI EAFE | 0.67 | 35% |
| MSCI Emg Mkts | 0.36 | 27% |
Liquidity Measures
| Avg. volume (000) | 394 |
| ADV traded (mns) | $29 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| 30d moving avg. (EMA) | $75.69 |
| Relative strength (RSI) | 44 |
| MACD/Signal | -0.31/-0.14 |
| Bollinger Bands (Upper/Lower) | $77.30/$74.10 |
| Short interest (% of AUM) | 0.2% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GNR |
Expenses vs. GNR |
ALTAR Score™ vs. GNR |
|---|---|---|---|---|
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 54.9% | +7 bp | -0.6% |
| NANR | SPDR S&P North American Natural Resources ETF | 48.0% | -5 bp | -1.6% |
| IXC | iShares Global Energy ETF | 37.8% | -3 bp | +0.2% |
| HAP | VanEck Natural Resources ETF | 34.6% | +1 bp | -1.8% |
| FTWO | Strive FAANG 2.0 ETF | 31.9% | +9 bp | -4.2% |
| MXI | iShares Global Materials ETF | 30.0% | -3 bp | -3.4% |
| PBOG | Portfolio Building Block Integrated Oil and Gas and Explorat | 29.9% | -27 bp | +1.8% |
| AVIE | Avantis Inflation Focused Equity ETF | 22.2% | -15 bp | -2.5% |
| IGE | iShares North American Natural Resources ETF | 22.1% | -3 bp | -2.0% |
| ENRG | Ninepoint North American Energy Independence ETF | 19.4% | +25 bp | -2.8% |
Risk and Returns: GNR vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/6/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
9.3%
ALTAR SCORE™
96th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 746 funds in the Global Equity category with an average
ALTAR Score™ of 4.8% and a standard deviation
of 2.6%. GNR's ALTAR Score™ is approximately 1.7 standard
deviations above the category average. This places GNR in the 96th percentile
among funds in the category.
Sell-Side Consensus
$86.37
PRICE TARGET
+18.0%
UPSIDE