Northern Trust Morningstar Global Upstream Natural Resources ETF
$54.45−0.34 (−0.61%)
- Expense ratio
- 0.47%
- Fund size
- $7.0B
- 1Y return
- +29.7%
- Yield · Last 12 months
- 2.25%
- Holdings
- 188
- Volume · 30D
- 0.5M sh
- NAV per share
- $54.35
- 52W range
The ETF.net GUNR Grade
Score 62 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 50Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 74Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 58Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 79Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 69Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 85Category rank
Our read on GUNR
BPlenty of "natural resources" funds are really energy funds in disguise. GUNR heads upstream to the diggers, drillers and growers, and gives timber and water their own seats at the table alongside energy, metals and agriculture.
The fund seeks to track the price and yield performance of the Morningstar Global Upstream Natural Resources Index before fees and expenses.
Why people hold it
- Five sectors, not three: energy, agriculture and metals, plus targeted slots for timber and water, so a single commodity cycle doesn't run the whole portfolio.flexshares.com
- Upstream only, by design: owners and extractors of the raw resource rather than the downstream firms that pay higher prices for it as an input.flexshares.com
- Diversification rules are written into the index: no single stock above 5%, US exposure capped at 40%, emerging markets capped at 20%.flexshares.com
- Trading since 2011 and now a multi-billion-dollar fund holding roughly 200 stocks, with distributions paid quarterly.
Worth knowing
- The 0.47% fee sits above the natural resources cohort median and above big rivals such as NANR (0.35%) and IGE (0.37%).
- You own resource companies, not the commodities. Equity-linked exposure tracks commodity prices less closely than futures do.indexes.morningstar.com
- Concentrated in resource industries by mandate, with developed and emerging market names in the mix, so it moves on its own cycle rather than the broad market's.sec.gov
GUNR Holdings
- Stocks
- 188
- 37%
- XOM
Sectors
- Materials50.8%
- Energy31.7%
- Cons. Staples11.4%
- Utilities5.0%
- Real Estate1.0%
- Industrials0.1%
Geography
- United States36.10%
- Canada18.54%
- United Kingdom10.93%
- Australia6.42%
- China4.27%
- Norway3.43%
- Brazil3.37%
- France2.76%
- 14.19%
Developed 75% · Emerging 25%
GUNR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GUNR |
|---|---|
| Year to date | +21.6% |
| 1 month | −3.1% |
| 3 months | +8.9% |
| 1 year | +29.7% |
| 3 years | +13.9% |
| 5 years | +12.5% |
| 10 years | +10.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GUNR |
|---|---|---|
| 2026 YTD | +21.6% | |
| 2025 | +30.0% | |
| 2024 | −8.4% | |
| 2023 | −2.4% | |
| 2022 | +14.9% | |
| 2021 | +26.1% | |
| 2020 | +0.5% |
GUNR in the news
ETF.net Research hasn’t filed on GUNR yet — coverage lands here as it’s written.
GUNR Dividends
- 2.25%
- $1.23
- $0.37 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Pays Sep 24, 2026 | $0.37 |
| Jun 18, 2026 | Jun 25, 2026 | $0.35 |
| Mar 20, 2026 | Mar 26, 2026 | $0.20 |
| Dec 19, 2025 | Dec 26, 2025 | $0.32 |
| Sep 19, 2025 | Sep 25, 2025 | $0.35 |
| Jun 20, 2025 | Jun 26, 2025 | $0.35 |
| Mar 21, 2025 | Mar 27, 2025 | $0.27 |
| Dec 20, 2024 | Dec 27, 2024 | $0.32 |
| Sep 20, 2024 | Sep 26, 2024 | $0.32 |
| Jun 21, 2024 | Jun 27, 2024 | $0.43 |
| Mar 15, 2024 | Mar 21, 2024 | $0.16 |
| Dec 15, 2023 | Dec 21, 2023 | $0.46 |
GUNR Risk
- 15.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.67
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −24.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.44
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GUNR Cost
- The middle half of Natural Resources funds
- Median 0.46%
7 of the 14 Natural Resources funds charge less.