GUNR
FlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares Morningstar Global Upstream Natural Resources Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Morningstar Global Upstream Natural Resources Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 6.9 B
ASSETS UNDER MGMT
46 bp
EXPENSES
Fund Basics
| Inception date | Sep 16, 2011 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| EXXON MOBIL CORP | 5.0 % |
| CORTEVA INC | 4.9 % |
| NUTRIEN LTD. | 3.9 % |
| CHEVRON CORP | 3.9 % |
| SHELL PLC | 3.8 % |
| BHP BILLITON LTD | 3.5 % |
| ARCHER-DANIELS-MIDLAND CO | 2.8 % |
| NEWMONT MINING CORP | 2.5 % |
| TOTAL SA | 2.3 % |
| AGNICO-EAGLE MINES LTD | 2.3 % |
Constituent Breakdown
| Number of holdings | 170 |
| Herfindahl-Hirschman Index | 191 |
| Wgt avg mkt cap (mns) | $95,333 |
| Large cap (>$10bn) | 86.1% |
| Mid cap ($2-10bn) | 9.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 80.6% |
| Emerging mkts. | 17.1% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 34.5 % |
 |
CANADA | 18.3 % |
 |
BRITAIN | 9.8 % |
 |
AUSTRALIA | 6.0 % |
 |
CHINA | 5.0 % |
 |
NORWAY | 3.1 % |
 |
BRAZIL | 2.9 % |
 |
FRANCE | 2.3 % |
 |
SAUDI ARABIA | 2.2 % |
 |
INDIA | 1.4 % |
Historical Performance
Standardized Performance (as of 03/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 20.3% | 42.1% | 15.9% | 9.3% | 8.8% | 8.6% | -- | 3.6% |
| Dividend Yield | 0.0% | 3.5% | 3.4% | 3.5% | 3.8% | 3.4% | -- | 3.1% |
| Total Returns | 20.3% | 45.6% | 19.3% | 12.7% | 12.6% | 12.0% | -- | 6.7% | Ann. Volatility | 21.8% | 18.9% | 16.7% | 16.5% | 19.1% | 20.6% | -- | 20.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.63 | 40% |
| MSCI EAFE | 0.78 | 53% |
| MSCI Emg Mkts | 0.64 | 47% |
Liquidity Measures
| Avg. volume (000) | 569 |
| ADV traded (mns) | $32 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.03% |
Technical Indicators
| 30d moving avg. (EMA) | $54.28 |
| Relative strength (RSI) | 61 |
| MACD/Signal | 0.62/0.50 |
| Bollinger Bands (Upper/Lower) | $56.57/$52.19 |
| Short interest (% of AUM) | 0.5% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GUNR |
Expenses vs. GUNR |
ALTAR Score™ vs. GUNR |
|---|---|---|---|---|
| GNR | SPDR S&P Global Natural Resources ETF | 51.8% | -6 bp | +0.7% |
| NANR | SPDR S&P North American Natural Resources ETF | 37.6% | -11 bp | -0.9% |
| HAP | VanEck Natural Resources ETF | 35.5% | +4 bp | -0.7% |
| FTWO | Strive FAANG 2.0 ETF | 29.9% | +3 bp | -3.2% |
| IXC | iShares Global Energy ETF | 26.6% | -2 bp | +0.4% |
| MXI | iShares Global Materials ETF | 23.9% | -5 bp | -1.8% |
| VEGI | iShares MSCI Agriculture Producers ETF | 23.0% | -7 bp | +0.1% |
| IGE | iShares North American Natural Resources ETF | 23.0% | -5 bp | -1.2% |
| JIVE | JPMorgan International Value ETF | 22.9% | +9 bp | +1.9% |
| GCOW | Pacer Global Cash Cows Dividend ETF | 20.3% | +14 bp | +2.0% |
Risk and Returns: GUNR 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 4/17/2026
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
7.1%
ALTAR SCORE™
86th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 586 funds in the Global Equity category with an average
ALTAR Score™ of 4.4% and a standard deviation
of 2.6%. GUNR's ALTAR Score™ is approximately 1.1 standard
deviations above the category average. This places GUNR in the 86th percentile
among funds in the category.
Sell-Side Consensus
$57.37
PRICE TARGET
+3.3%
UPSIDE