GNR vs NRES

GNRAState Street SPDR S&P Global Natural Resources ETF

NRESCXtrackers RREEF Global Natural Resources ETF

In short

GNR Most resource ETFs are energy funds in a hard hat. GNR spreads a global, large-cap lineup across agriculture, energy, and metals and mining, roughly 90 names tracking an S&P natural resources index since 2010.

NRES DWS's first US active ETF, and it swings at the unglamorous stuff: a global, go-anywhere basket of miners, drillers, growers and forestry names hand-picked by the firm's real assets desk, priced at 0.45% a year.

Stated mandate

GNR The fund seeks to provide investment results corresponding generally to the total return performance of the S&P Global Natural Resources Index. It provides exposure to large-cap companies across agriculture, energy, and metals and mining.

NRES The fund seeks total return through capital appreciation and current income. It is actively managed and does not seek to replicate a specific index.

Why people hold it

• GNR Three legs, one ticker: crop and fertilizer names, oil and gas, and miners all sit inside the mandate, so no single commodity story runs the whole fund.ssga.com
• Genuinely global, not North America with a passport. Cohort neighbors IGE and NANR chase the same theme inside one region.
• 0.40% a year, right around the middle of its natural resources peer group, for an index fund that has been open since 2010.
• A multi-billion-dollar fund with steady day-to-day trading and one of the stronger builds in its natural resources peer group.

• NRES Charges 0.45% a year, below the typical active equity ETF fee in its peer group, for a portfolio that is genuinely hand-picked rather than index-tracked.
• Casts a wide net across metals, energy, agriculture and paper and forestry, in developed and emerging markets, up and down the market-cap scale.etfstrategy.com
• Two-handed mandate: total return from capital appreciation and current income, with cash paid quarterly. The income leg is written into the objective, not bolted on.
• DWS's Liquid Real Assets team sets the subsector mix, and the portfolio managers pick the individual names within it. A clear division of labor, not a black box.etftrends.com

Worth knowing

• GNR Resource equities ride the commodity cycle. When crude and metals roll over, the drillers and miners in here go with them, diversified thirds or not.
• Global reach means overseas listings and foreign currency swings layered on top of the commodity moves.
• Distributions land on an annual or semiannual schedule rather than monthly, so the cash flow is lumpy.

• NRES Thinly traded with a small asset base, so bid-ask spreads tend to be wider and less predictable than in the big index funds sitting next to it.
• Concentrated and non-diversified: roughly 60 holdings in sectors that ride the commodity price cycle, which means bumpier moves than a broad global equity fund.yahoo.com
• Launched in 2024, so the live track record for this manager and this strategy is still short.

Full GNR profile⁠

Full NRES profile⁠