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.
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 13, 2010 |
| Assets (mns) | $3,379 |
| Expense ratio | 40 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SHELL PLC | 5.1 % |
| BHP BILLITON LTD | 4.4 % |
| EXXON MOBIL CORP | 4.3 % |
| TOTAL SA | 3.9 % |
| FREEPORT-MCMORAN COPPER | 3.0 % |
| UPM-KYMMENE OYJ | 2.8 % |
| GLENCORE INTERNATIONAL PLC | 2.8 % |
| BP PLC | 2.7 % |
| CHEVRON CORP | 2.5 % |
| NUTRIEN LTD. | 2.4 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 192 |
| Wgt avg mkt cap (mns) | $86,454 |
| Large cap (>$10bn) | 90.5% |
| Mid cap ($2-10bn) | 7.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 93.6% |
| Emerging mkts. | 6.4% |
Country Exposure
 |
UNITED STATES | 34.4 % |
 |
CANADA | 15.2 % |
 |
BRITAIN | 11.5 % |
 |
AUSTRALIA | 8.1 % |
 |
FINLAND | 4.4 % |
 |
BRAZIL | 4.0 % |
 |
FRANCE | 3.9 % |
 |
SWITZERLAND | 3.9 % |
 |
IRELAND | 1.8 % |
 |
NORWAY | 1.8 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -5.6% | -3.1% | -4.0% | 6.0% | 6.8% | 3.9% | 3.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.80 | 46% |
| MSCI EAFE | 0.97 | 63% |
| MSCI Emg Mkts | 0.76 | 42% |
Liquidity Measures
| Avg. volume (000) | 279 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $19,646 |
Technical Indicators
| Recent close | $58.03 |
| 30d moving avg. | $54.96 |
| Annualized volatility | 20.8% |
| Relative strength (RSI) | 52 |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GNR |
Expenses vs. GNR |
ALTAR Score™ vs. GNR |
|---|---|---|---|---|
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 54.8% | +6 bp | -0.4% |
| HAP | VanEck Natural Resources ETF | 40.7% | +10 bp | +0.3% |
| MXI | iShares Global Materials ETF | 37.5% | +1 bp | -2.6% |
| IXC | iShares Global Energy ETF | 34.0% | +4 bp | -1.0% |
| NANR | SPDR S&P North American Natural Resources ETF | 33.2% | -5 bp | -2.5% |
| FILL | iShares MSCI Global Energy Producers ETF | 31.4% | -1 bp | -0.2% |
| FTWO | Strive FAANG 2.0 ETF | 27.8% | +9 bp | -4.5% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 23.0% | -1 bp | +1.8% |
| IGE | iShares North American Natural Resources ETF | 21.9% | +1 bp | -2.8% |
| VAW | Vanguard Materials ETF | 16.9% | -30 bp | -2.8% |
Risk and Returns: GNR vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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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 | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
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 | --% |
Based on closing prices from 4/24/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
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
9.3%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.3% |
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 347 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
5.0%. GNR's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places GNR in the 87th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GNR
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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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 .