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Launched · SEC filings

Northern Trust Morningstar Global Upstream Natural Resources ETF

GUNRNYSE ArcaFlexSharesB

$52.39−0.70 (−1.32%)

At close: Nov 3, 2026, 4:00 PM ET

B62/ 100

Rank 5 of 14 in Natural Resources

B62/100Rank 5 of 14inNatural Resources
Intraday session: down, 79 prints from 53.09 to 52.39. Range 52.34 to 52.86. Use the arrow keys to read each point.52.6052.8053.0010 AM12 PM2 PM4 PM
Expense ratio
0.46%*
Fund size
$7.01B
1Y total return
+25.2%
Yield · Last 12 months
2.32%
Holdings
160
Avg volume · 30D
492K sh
52W range
low $42.53high $58.07
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Mar 1, 2027. Without it: 0.47%.

The ETF.net GUNR Grade

B

Score 62 out of 100

Category
Natural Resources⁠
Rank
5 of 14
Six-pillar profile for GUNR. Scores out of 100: Cost 50, Risk 59, Mission 77, Tradability 74, Holdings 77, Durability 85. Strongest: Durability (85). Weakest: Cost (50). Leans toward Durability.

Score 62 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C50 out of 100
    Rank 7 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A77 out of 100
    Rank 1 of 6

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B59 out of 100
    Rank 5 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A74 out of 100
    Rank 3 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A77 out of 100
    Rank 2 of 14

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A85 out of 100
    Rank 2 of 14

Our read on GUNR

ETF.net Research

In short

BMost natural resources funds are oil majors and miners with a sprinkle of farmland. GUNR's index targets five upstream industries, timber and water included, and buys the companies that own the resource rather than the ones that ship it.

Stated mandate

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

  • The index targets all five upstream industries: energy, metals, agriculture, timber and water. Timberland and water businesses get a standing seat instead of crumbs.flexshares.comflexshares.com 2
  • Upstream means owners and producers: companies with significant operations in owning, managing or producing the raw resource, not the refiners and shippers downstream.sec.govflexshares.com
  • 0.46% net of a waiver through March 1, 2027 (0.47% gross), near the category median, on a multi-billion-dollar fund that has traded since 2011 and pays quarterly.
  • Weight caps limit how much can pile into any single resource category, any one stock, the US or emerging markets, so roughly 180 holdings stay spread out.sec.gov

Worth knowing

  • Cheaper rivals exist: GNR charges 0.40% and NANR 0.35%, neither under a waiver. The extra cost here pays for the timber and water sleeves and the global reach.
  • Global and non-diversified per the prospectus, emerging markets included, so currency moves and commodity cycles both ride along.flexshares.comsec.gov
  • New nameplate, same fund: FlexShares rebranded it as a Northern Trust ETF in 2026. Ticker and Morningstar index are unchanged.flexshares.com

GUNR Performance

Launched Sep 16, 2011

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

GUNR$12,520
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. GUNR $12,520. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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.

Trailing total return for GUNR. Periods over one year show the average yearly return.
PeriodGUNR
Year to date+17.8%
1 month−0.1%
3 months+2.1%
1 year+25.2%
3 yearsper year+13.6%
5 yearsper year+10.3%
10 yearsper year+10.3%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for GUNR
YearReturn barGUNR
2026 YTD+17.8%
2025+30.0%
2024−8.4%
2023−2.4%
2022+14.9%
2021+26.1%
2020+0.5%

GUNR in the news

GUNR Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
2.32%Last 12 months
Payout per share
$1.23Last 12 months
Last payment
$0.37 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 20, 2017 $0.12; Jun 19, 2017 $0.20; Sep 18, 2017 $0.22; Dec 21, 2017 $0.12; Mar 19, 2018 $0.16; Jun 18, 2018 $0.28; Sep 24, 2018 $0.29; Dec 21, 2018 $0.22; Mar 15, 2019 $0.29; Jun 21, 2019 $0.30; Sep 20, 2019 $0.29; Dec 20, 2019 $0.21; Mar 20, 2020 $0.26; Jun 19, 2020 $0.19; Sep 18, 2020 $0.27; Dec 18, 2020 $0.19; Mar 19, 2021 $0.24; Jun 18, 2021 $0.24; Sep 17, 2021 $0.54; Dec 17, 2021 $0.40; Mar 18, 2022 $0.35; Jun 17, 2022 $0.61; Sep 16, 2022 $0.58; Dec 16, 2022 $0.24; Mar 17, 2023 $0.17; Jun 16, 2023 $0.53; Sep 15, 2023 $0.30; Dec 15, 2023 $0.46; Mar 15, 2024 $0.16; Jun 21, 2024 $0.43; Sep 20, 2024 $0.32; Dec 20, 2024 $0.32; Mar 21, 2025 $0.27; Jun 20, 2025 $0.35; Sep 19, 2025 $0.35; Dec 19, 2025 $0.32; Mar 20, 2026 $0.20; Jun 18, 2026 $0.35; Sep 18, 2026 $0.37. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 24, 2026$0.37
Jun 18, 2026Jun 25, 2026$0.35
Mar 20, 2026Mar 26, 2026$0.20
Dec 19, 2025Dec 26, 2025$0.32
Sep 19, 2025Sep 25, 2025$0.35
Jun 20, 2025Jun 26, 2025$0.35
Mar 21, 2025Mar 27, 2025$0.27
Dec 20, 2024Dec 27, 2024$0.32
Sep 20, 2024Sep 26, 2024$0.32
Jun 21, 2024Jun 27, 2024$0.43
Mar 15, 2024Mar 21, 2024$0.16
Dec 15, 2023Dec 21, 2023$0.46

See all 48 payments⁠

$10,000 in GUNR 10 years ago paid $4,362 in dividends.⁠

GUNR Risk

Risk pillarB59 out of 100Rank 5 of 14 in Natural Resources
How much the fund’s monthly returns vary, scaled to a year.
15.4%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.69
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−24.0%
Trough Jul 2022
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.

How strongly the fund’s returns move with its asset-class index.
0.46
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

GUNR Cost

Compare GUNR and NANR

Overpaying vs NANR, cheapest in Natural Resources

$2,104

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GUNR 0.46%

    $9,230

  • NANR 0.35% Cheapest

    $7,126

$10,000
30 years

Cost over time

  • GUNR 0.46%
  • NANR 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530GUNR $9,230NANR $7,126

Year by year

YearGUNRNANROverpaying
10$830$634$196
20$3,195$2,454$741
30$9,230$7,126$2,104
How the 0.46% is worked out

Full fee 0.47%− waiver 0.01%= you pay 0.46%

The waiver ends Mar 1, 2027. After that the fee is 0.47% unless FlexShares renews it. Source: prospectus, Aug 2026.

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