GNR

SPDR S&P Global Natural Resources ETF

SPDR S&P Global Natural Resources ETF is an exchanged-traded fund incorporated in the United States. The Fund seeks to track the performance of the S&P Global Natural Resources Index which tracks the global natural resources and commodities businesses.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

40 bp

EXPENSES

$3.1 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateSep 13, 2010
Assets (mns)$3,123
Expense ratio40 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionCommittee
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
SHELL PLC 5.3 %
BHP BILLITON LTD 4.8 %
EXXON MOBIL CORP 4.8 %
TOTAL SA 3.9 %
UPM-KYMMENE OYJ 3.1 %
FREEPORT-MCMORAN COPPER 3.0 %
GLENCORE INTERNATIONAL PLC 2.7 %
BP PLC 2.6 %
CHEVRON CORP 2.6 %
NUTRIEN LTD. 2.5 %
Constituent Breakdown
Number of holdings97
Herfindahl-Hirschman Index 205
Wgt avg mkt cap (mns)$86,263
Large cap (>$10bn)90.7%
Mid cap ($2-10bn)7.4%
Small cap (<$2bn)0.0%
Developed mkts.94.0%
Emerging mkts.6.0%
Country Exposure
UNITED STATES 34.3 %
CANADA 15.0 %
BRITAIN 11.8 %
AUSTRALIA 7.9 %
FINLAND 4.6 %
FRANCE 3.9 %
SWITZERLAND 3.7 %
BRAZIL 3.4 %
IRELAND 1.9 %
NORWAY 1.8 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -2.8% 10.5% -2.6% 3.9% 9.2% 3.9% 3.5%
Volatility 14.8% 16.2% 21.4% 21.5% 26.1% 22.4% --
Market Correlations
versus...BetaR-squared
S&P 5000.7847%
MSCI EAFE0.9462%
MSCI Emg Mkts0.7541%
Liquidity Measures
Avg. volume (000)208
Turnover0.4%
Avg. Bid/Ask (% of price)0.11%
ADV of underlying (mns)$14,701
Technical Indicators
Recent close$55.27
30d moving avg.$58.00
Annualized volatility20.6%
Relative strength (RSI)45
Short interest (ETF)0.1%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: GNR vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.0 10.9 1.3 3.7% --
Based on closing prices from 6/21/2024
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SHOWING:
Price-to-Earnings
GNR



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

GNR

9.9%

Cat. Avg

3.8%

Fund Category: Global

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™9.9%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 344 funds in the Global category, with an average ALTAR Score™ of 3.8% and a standard deviation of 4.8%. GNR's ALTAR Score™ is approximately 1.3 standard deviations above the category average. This places GNR in the 90th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
GNR
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
GNR 40.0 10.8 50.8
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .