CCNR vs NANR

CCNRBALPS Funds CoreCommodity Natural Resources ETF

NANRAState Street SPDR S&P North American Natural Resources ETF

In short

CCNR A commodity house's version of a resource stock fund: CCNR spreads across roughly 300 owners, explorers, developers and suppliers, with the Bloomberg Commodity Index as its stated reference point.

NANR Natural resources without the passport: roughly 200 large and mid cap US and Canadian energy, mining and agriculture names in one basket, for 0.35% a year.

Stated mandate

CCNR The fund seeks to maximize real returns through prudent investment management and invests in equity securities of natural-resource owners, explorers, developers, and related suppliers.

NANR The fund seeks to track, before fees and expenses, the total return of the S&P BMI North American Natural Resources Index. It targets large- and mid-cap publicly traded U.S. and Canadian companies in energy, metals and mining, and agriculture-related natural-resources businesses.

Why people hold it

• CCNR 0.39% expense ratio lands mid-pack in natural resources, well under GUNR's 0.47% and only a shade over NANR's 0.35%.
• Roughly 300 holdings across resource owners, explorers, developers and the suppliers that serve them, so no single miner or driller dominates the outcome.
• Its reference is the Bloomberg Commodity Index, the broad commodity benchmark, so the portfolio is framed by the commodity complex rather than an equity sector list alone.
• The mandate is written around real returns, the inflation-adjusted kind, which is the classic reason investors keep a resources sleeve at all.

• NANR At 0.35% a year, it undercuts its natural-resources peers, including IGE at 0.37% and State Street's own global version, GNR, at 0.40%.
• Three commodity engines, not one. Energy, metals and mining, and agriculture-linked businesses sit in the same basket, so it isn't a pure oil bet.
• North America only: large and mid cap US and Canadian producers, no emerging-market miners or state-linked oil majors.
• Index-tracking since 2015, and one of the stronger builds in its natural-resources cohort.

Worth knowing

• CCNR Launched in 2024 and thinly traded, so it carries a short record and wider spreads than the household names in its group.
• Distributions come annually or semiannually, not on a monthly rhythm.
• Against established natural-resources rivals like IGE, GNR and GUNR, our review places it in the lower half of the group.

• NANR Thinly traded next to the category's giants, so spreads can be wider and big orders can move the price.
• Commodity cycles drive it. A basket parked in energy and materials swings harder than a broad market index.
• Cash comes once or twice a year, not quarterly, and the Canadian sleeve adds a currency layer.

Full CCNR profile⁠

Full NANR profile⁠