IGE vs NANR: Grades, Fees and Holdings Compared

iShares North American Natural Resources ETF

IGEACboe

State Street SPDR S&P North American Natural Resources ETF

NANRANYSE Arca

Overlap

51.8%by weight

Expense ratio

NANR −0.02pt a year

IGE0.37%NANR0.35%

Avg volume · 30D

IGE 5.0×the volume

IGE144KNANR28.5K

10Y return · a year

NANR +2.6pt

IGE+10.4%NANR+13.0%

IGE vs NANR Performance

Oct 29, 2021 – Oct 30, 2026

+137.4%IGE+123.4%NANR

Expense ratio: IGE 0.37%; NANR 0.35%, better
Fund size: IGE $839M; NANR $840M
1Y total return: IGE +42.6%, better; NANR +40.2%
Yield (12M): IGE 1.81%, better; NANR 1.63%
Holdings: IGE 153; NANR 204
Avg volume (30D): IGE 144K sh, better; NANR 28.5K sh
NAV per share: IGE $66.58; NANR $87.29
52W range

ETF.net Grade

Pillar letters and Scores for IGE, NANR, with each pillar’s weight
Pillar	IGE	NANR
Cost30% weight	A91	A99Higher
Mission25% weight	Not scored	A72
Risk15% weight	B64Higher	C54
Tradability15% weight	A85Higher	B65
Holdings10% weight	D37	C53Higher
Durability5% weight	A79	A81Higher

Rank among Natural Resources funds

How we build Categories ›

Same Category. IGE and NANR are both graded against the same 14 Natural Resources funds, so their Grades compare head to head.

Natural Resources⁠

Category · 14 funds

See all 14 ›

IGE ranks 1st and NANR 2nd of 14 funds in the Natural Resources Category.

Rank 1AIGEiShares North American Natural Resources ETFScore 76
Rank 2AGNRState Street SPDR S&P Global Natural Resources ETFScore 75
Rank 2ANANRState Street SPDR S&P North American Natural Resources ETFScore 75
Rank 4AHAPVanEck Natural Resources ETFScore 68

Our read on each fund

ETF.net Research

IGEAiShares North American Natural Resources ETF

NANRAState Street SPDR S&P North American Natural Resources ETF

In short

IGE A 2001-vintage way to own the stuff the economy digs up and drills for: US and Canadian energy, metals, miners and timber in one market-cap-weighted basket, priced below the natural-resources average.

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

IGE The fund seeks to follow an index representing North American equities in the natural-resources sector.

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

IGE Launched in October 2001, one of the longest-running natural-resources ETFs on the tape, with several full commodity cycles behind it.investing.com
0.37% a year sits under the natural-resources cohort median of 0.41%, and well under GUNR's 0.47%.
About 150 names spanning oil and gas, metals and mining, and paper and forest products, so it reaches past the usual oil-major shortlist.investing.com
Plain index tracking from iShares, distributions paid quarterly, and one of the stronger builds in its natural-resources peer group.ishares.com

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

IGE North America only. GNR and GUNR cast a global net, which picks up large overseas miners this one leaves on the table.
Market-cap weighting hands the largest energy names the heaviest slots, and the basket rides the commodity cycle in both directions.
Mid-sized and moderately traded rather than a mega-liquid giant, so spreads deserve a look on larger orders.

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 IGE profile⁠

Full NANR profile⁠

IGE vs NANR Holdings

How IGE and NANR differ

Overlap by weight

51.8%

Shared holdings make up 64.1% of IGE and 58.6% of NANR.

Level by level

Holdings88 in both51.8%
Sector8 Sectors74.1%
Countryby domicile94.7%
Asset classEquity100%

Sector

Sector weights in IGE and NANR, widest gap first
Sector	More in IGEMore in NANR	IGE	NANR
Energy	IGE +25.7 points	74.7%	49.0%
Materials	NANR +14.1 points	22.0%	36.1%
Consumer Staples	NANR +4.2 points	0.0%	4.2%
Consumer Discretionary	NANR +3.3 points	3.0%	6.3%
Financials	NANR +2.9 points	0.0%	2.9%
Real Estate	NANR +1.2 points	0.0%	1.2%
Health Care	IGE +0.2 points	0.2%	0.0%
Industrials	NANR +0.2 points	0.1%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in IGE and NANR, widest gap first
Country	More in IGEMore in NANR	IGE	NANR
United States	IGE +5.3 points	76.7%	71.4%
Canada	NANR +2.4 points	23.3%	25.7%
Ireland	NANR +1.4 points	0.0%	1.4%
United Kingdom	NANR +1.3 points	0.0%	1.3%
Brazil	NANR +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

IGE45.3%
NANR41.2%

Securities held

IGE149
NANR202

Asset class

IGE: Equity
NANR: Equity

Holdings

Only in IGE61
In both88
Only in NANR114

Only in IGE

61 securities, 35.7% of IGE by weight

Canadian Natural Resources Ltd2.75%
Enbridge2.61%
Suncor Energy Inc2.21%
Williams2.16%
Agnico Eagle Mines1.99%
Cheniere Energy1.62%
Targa Resources1.61%
Tc Energy1.60%
Kinder Morgan1.58%
Oneok1.46%
Barrick Mining1.45%
Crh Public Limited PLC1.44%
Wheaton Precious Metals1.26%
Franco Nevada1.03%
Cenovus Energy1.02%
Vulcan Materials0.87%
Cameco0.80%
Martin Marietta Materials0.77%
Pembina Pipeline0.71%
Teck Resources Subordinate Voting0.70%
Kinross Gold0.57%
Amrize AG0.50%
Ball Corp0.42%
Pan American Silver0.38%
Crown Holdings Inc0.30%
Dt Midstream0.30%
Alamos Gold Class A0.27%
Hudbay Minerals0.23%
Iamgold Corp0.21%
Aptargroup0.21%
Eldorado Gold0.19%
South Bow0.18%
Antero Midstream0.17%
First Majestic Silver0.17%
Or Royalties Inc0.14%
Eagle Materials Inc0.13%
Nexgen Energy0.13%
Ssr Mining0.13%
International Seaways0.11%
Centerra Gold0.09%
West Fraser Timber0.09%
Kinetik Holdings Class A0.09%
Silgan Holdings0.09%
Baytex Energy0.08%
Skeena Resources0.08%
Aya Gold & Silver Inc0.08%
Knife River Corp0.08%
Ero Copper0.07%
Aris Mining0.07%
Enerflex0.07%

Only in NANR

114 securities, 41.3% of NANR by weight

Vylor Inc2.97%
Agnico Eagle Mines Ltd2.76%
Archer Daniels Midland Co2.25%
Nutrien Ltd2.00%
Barrick Mining Corp1.97%
Canadian Natural Resources1.97%
Nucor Corp1.94%
Wheaton Precious Metals Corp1.73%
Suncor Energy Inc1.58%
Franco Nevada Corp1.39%
Anglogold Ashanti PLC1.13%
Cf Industries Holdings Inc1.09%
Steel Dynamics Inc1.06%
Teck Resources Ltd Cls B0.95%
Bunge Global SA0.93%
Weyerhaeuser Co0.87%
Kinross Gold Corp0.79%
Cenovus Energy Inc0.73%
Reliance Inc0.70%
Cameco Corp0.63%
Darling Ingredients Inc0.53%
Pan American Silver Corp0.53%
First Quantum Minerals Ltd0.52%
Lundin Mining Corp0.47%
Corteva Inc0.47%
Alamos Gold Inc Class A0.37%
Ingredion Inc0.37%
Mosaic Co/The0.35%
Rayonier Inc0.32%
Hudbay Minerals Inc0.32%
Tourmaline Oil Corp0.31%
Iamgold Corp0.30%
Whitecap Resources Inc0.29%
Eldorado Gold Corp0.26%
Cleveland Cliffs Inc0.25%
Dpm Metals Inc0.24%
West Fraser Timber Co Ltd0.24%
First Majestic Silver Corp0.23%
Commercial Metals Co0.22%
G Mining Venture Corp0.21%
Lundin Gold Inc0.19%
Or Royalties Inc0.19%
Capstone Copper Corp0.18%
Ssr Mining Inc0.18%
Oceanagold Corp0.17%
Scotts Miracle Gro Co0.17%
Ivanhoe Mines Ltd Class A0.16%
Stella Jones Inc0.16%
Discovery Mining Ltd0.15%
Warrior Met Coal Inc0.14%

Weight gaps

All 88 Holdings in both funds, largest gap first.

Holding weights in IGE and NANR, widest gap first
Holding	More in IGEMore in NANR	IGE	NANR
ChevronCVX	IGE +3.05 points	10.96%	7.91%
ConocophillipsCOP	IGE +1.28 points	4.40%	3.12%
NewmontNEM	NANR +0.98 points	2.67%	3.65%
Marathon PetroleumMPC	IGE +0.87 points	2.97%	2.10%
Packaging Corp of AmericaPKG	NANR +0.84 points	0.54%	1.38%
Smurfit Westrock PLCSW	NANR +0.82 points	0.54%	1.36%
Valero Energy CorpVLO	IGE +0.83 points	2.74%	1.91%
Amcor PLCAMCR	NANR +0.81 points	0.52%	1.33%
Freeport Mcmoran IncFCX	NANR +0.81 points	2.13%	2.94%
Phillips 66PSX	IGE +0.79 points	2.68%	1.89%
International PaperIP	NANR +0.71 points	0.46%	1.17%
Eog ResourcesEOG	IGE +0.60 points	2.07%	1.47%
SlbSLB	IGE +0.52 points	1.90%	1.38%
Avery Dennison CorpAVY	NANR +0.51 points	0.33%	0.84%
Devon EnergyDVN	IGE +0.39 points	1.36%	0.97%
Baker Hughes Class ABKR	IGE +0.36 points	1.30%	0.94%
Occidental Petroleum CorpOXY	IGE +0.31 points	1.11%	0.80%
Diamondback EnergyFANG	IGE +0.30 points	1.03%	0.73%
EqtEQT	IGE +0.23 points	0.82%	0.59%
HalliburtonHAL	IGE +0.20 points	0.72%	0.52%
Exxonmobil Holdings CorpXOM	NANR +0.18 points	11.35%	11.53%
Technipfmc PLCFTI	IGE +0.19 points	0.64%	0.45%
Sonoco ProductsSON	NANR +0.18 points	0.12%	0.30%
Royal GoldRGLD	NANR +0.16 points	0.46%	0.62%
Imperial Oil Ltd	IGE +0.15 points	0.49%	0.34%
Permian Resources Class APR	IGE +0.15 points	0.52%	0.37%
Expand EnergyEXE	IGE +0.14 points	0.50%	0.36%
OvintivOVV	IGE +0.14 points	0.48%	0.34%
Texas Pacific LandTPL	IGE +0.13 points	0.46%	0.33%
ApaAPA	IGE +0.13 points	0.44%	0.31%
Coeur MiningCDE	NANR +0.13 points	0.32%	0.45%
Hf SinclairDINO	IGE +0.12 points	0.42%	0.30%
Equinox Gold	NANR +0.10 points	0.27%	0.37%
Graphic Packaging HoldingGPK	NANR +0.10 points	0.06%	0.16%
Antero ResourcesAR	IGE +0.09 points	0.31%	0.22%
Range ResourcesRRC	IGE +0.08 points	0.30%	0.22%
Hecla MiningHL	NANR +0.08 points	0.22%	0.30%
Alcoa CorpAA	NANR +0.08 points	0.25%	0.33%
Sm EnergySM	IGE +0.07 points	0.23%	0.16%
Viper Energy Inc Class AVNOM	IGE +0.06 points	0.22%	0.16%
Chord EnergyCHRD	IGE +0.05 points	0.20%	0.15%
B2GOLD	NANR +0.05 points	0.14%	0.19%
Pbf Energy Class APBF	IGE +0.05 points	0.18%	0.13%
Mp Materials Class AMP	NANR +0.05 points	0.14%	0.19%
Venture Global Class AVG	IGE +0.05 points	0.19%	0.14%
TransoceanRIG	IGE +0.05 points	0.17%	0.12%
Valaris LtdVAL	IGE +0.05 points	0.17%	0.12%
Matador ResourcesMTDR	IGE +0.05 points	0.17%	0.12%
NovNOV	IGE +0.04 points	0.16%	0.12%
Weatherford International PLCWFRD	IGE +0.05 points	0.16%	0.11%
MaterionMTRN	NANR +0.04 points	0.11%	0.15%
Noble Corporation PLCNE	IGE +0.05 points	0.15%	0.10%
Magnolia Oil Gas Corp Class AMGY	IGE +0.04 points	0.15%	0.11%
Murphy OilMUR	IGE +0.04 points	0.14%	0.10%
Sylvamo CorpSLVM	NANR +0.04 points	0.03%	0.07%
Cnx ResourcesCNX	IGE +0.04 points	0.13%	0.09%
Patterson Uti Energy IncPTEN	IGE +0.04 points	0.12%	0.08%
ArchrockAROC	IGE +0.03 points	0.13%	0.10%
Crescent Energy Class ACRGY	IGE +0.03 points	0.11%	0.08%
Solaris Energy Infrastructure IncSEI	IGE +0.03 points	0.11%	0.08%
Delek Us Holdings IncDK	IGE +0.03 points	0.11%	0.08%
Helmerich & PayneHP	IGE +0.03 points	0.10%	0.07%
California ResourcesCRC	IGE +0.03 points	0.11%	0.08%
Cactus Class AWHD	IGE +0.03 points	0.11%	0.08%
Kodiak Gas Services IncKGS	IGE +0.03 points	0.11%	0.08%
TidewaterTDW	IGE +0.03 points	0.10%	0.07%
Par Pacific HoldingsPARR	IGE +0.03 points	0.09%	0.06%
Core Natural ResourcesCNR	IGE +0.02 points	0.10%	0.08%
Oceaneering International IncOII	IGE +0.03 points	0.10%	0.07%
Trekor Metals	NANR +0.03 points	0.06%	0.09%
CalumetCLMT	IGE +0.02 points	0.08%	0.06%
SeadrillSDRL	IGE +0.02 points	0.08%	0.06%
Usa Rare Earth Class AUSAR	NANR +0.02 points	0.05%	0.07%
Uranium EnergyUEC	IGE +0.02 points	0.09%	0.07%
Northern Oil and GasNOG	IGE +0.02 points	0.07%	0.05%
Century AluminumCENX	NANR +0.02 points	0.05%	0.07%
Peabody Energy CorpBTU	IGE +0.01 points	0.06%	0.05%
Liberty Energy Class ALBRT	IGE +0.02 points	0.07%	0.05%
Talos EnergyTALO	IGE +0.01 points	0.05%	0.04%
Gulfport EnergyGPOR	IGE +0.02 points	0.06%	0.04%
Kaiser AluminiumKALU	NANR +0.01 points	0.05%	0.06%
World KinectWKC	IGE +0.02 points	0.05%	0.03%
Cvr Energy IncCVI	IGE +0.01 points	0.04%	0.03%
Energy Fuels	IGE +0.01 points	0.05%	0.04%
Denison Mines Corp	IGE +0.01 points	0.04%	0.03%
Centrus Energy Class ALEU	IGE +0.01 points	0.05%	0.04%
Comstock ResourcesCRK	IGE +0.01 points	0.03%	0.02%
Hycroft Mining Holding Corp ClassHYMC	NANR +0.01 points	0.02%	0.03%

All 149 IGE holdings⁠All 202 NANR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IGE vs NANR Cost

Overpaying IGE vs NANR

$387

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

IGE 0.37%
$7,513
NANR 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

IGE 0.37%
NANR 0.35%
Overpaying

Year by year

Year	IGE	NANR	Overpaying
10	$670	$634	$36
20	$2,590	$2,454	$136
30	$7,513	$7,126	$387

Expense ratio

0.37%IGE
0.35%NANR, cheaper

NANR0.35%IGE0.37%

0.35%0.79%

Middle half of Natural Resources funds
Median 0.46%

NANR cheapest of 14 funds

IGE 2nd cheapest of 14 funds

IGE vs NANR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IGE 1.81%, better; NANR 1.63%
Payout (12M): IGE $1.20; NANR $1.41
Last payment: IGE $0.32; NANR $0.71
Ex-dividend: IGE Sep 15, 2026; NANR Jun 1, 2026
Paid on: IGE Sep 18, 2026; NANR Jun 3, 2026
Frequency: IGE Quarterly; NANR Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

IGEQuarterly · 39 paymentsAll IGE payments⁠

NANRTwice a year · 19 paymentsAll NANR payments⁠

IGE vs NANR Risk

Fall from peak · 5 years

IGE
NANR

Risk facts

VolatilityStd dev, 3 years: IGE 17.9%, betterNANR 19.1%
Return per unit of riskSharpe ratio, 3 years: IGE 0.93NANR 0.95, better
Worst fallMax drawdown, 5 years: IGE −25.7%, betterNANR −26.4%
Market sensitivityBeta, 5 years: IGE 0.30NANR 0.49; Market = 1

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