FTWO vs NANR

FTWODStrive Natural Resources and Security ETF

NANRAState Street SPDR S&P North American Natural Resources ETF

In short

FTWO An upstream-only take on natural resources: roughly 50 companies that drill, mine and grow the raw material, rather than the pipelines and processors further down the chain. A young fund priced above the category norm.

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

FTWO The fund invests primarily in upstream natural-resource companies involved in exploring, extracting, or developing resources. It normally commits at least 80% of net assets to companies engaged in extracting energy, minerals, and agricultural products.

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

• FTWO The mandate is specific: normally at least 80% of net assets in companies extracting energy, minerals and agricultural products. Upstream, where commodity moves land first.
• Roughly 50 holdings, so individual names carry real weight instead of being diluted across a sprawling basket.
• Three resource legs in one wrapper: energy, minerals and agriculture, all at the extraction stage.
• Distributions are paid on a quarterly schedule.

• 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

• FTWO At 0.49% a year, it costs more than the category median and more than established rivals such as NANR (0.35%), IGE (0.37%) and GNR (0.40%).
• It trades thinly next to the category's heavyweights, which makes wider bid-ask spreads more likely.
• Launched in 2023 and still modest in size, it has a shorter record and a smaller asset base than the long-running funds it competes against.

• 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 FTWO profile⁠

Full NANR profile⁠