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
46 bp
EXPENSES
$5.8 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Northern Trust Investments Inc |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 16, 2011 |
| Assets (mns) | $5,802 |
| Expense ratio | 46 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| EXXON MOBIL CORP | 5.0 % |
| BHP BILLITON LTD | 4.8 % |
| NUTRIEN LTD. | 4.3 % |
| SHELL PLC | 4.2 % |
| CORTEVA INC | 4.0 % |
| CHEVRON CORP | 3.5 % |
| ARCHER-DANIELS-MIDLAND CO | 3.4 % |
| RIO TINTO PLC | 3.2 % |
| TOTAL SA | 2.6 % |
| FREEPORT-MCMORAN COPPER | 2.4 % |
Constituent Breakdown
| Number of holdings | 164 |
| Herfindahl-Hirschman Index | 207 |
| Wgt avg mkt cap (mns) | $96,931 |
| Large cap (>$10bn) | 82.8% |
| Mid cap ($2-10bn) | 14.4% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 86.6% |
| Emerging mkts. | 13.4% |
Country Exposure
 |
UNITED STATES | 35.7 % |
 |
CANADA | 14.8 % |
 |
BRITAIN | 12.6 % |
 |
AUSTRALIA | 7.9 % |
 |
NORWAY | 3.7 % |
 |
BRAZIL | 3.3 % |
 |
FRANCE | 2.6 % |
 |
SAUDI ARABIA | 2.5 % |
 |
SWITZERLAND | 2.3 % |
 |
INDIA | 1.8 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.5% | 4.3% | 4.6% | 6.0% | 8.0% | 4.2% | 5.3% | Volatility | 14.5% | 15.5% | 20.4% | 20.4% | 24.3% | 21.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.68 | 37% |
| MSCI EAFE | 0.85 | 54% |
| MSCI Emg Mkts | 0.67 | 35% |
Liquidity Measures
| Avg. volume (000) | 348 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $18,421 |
Technical Indicators
| Recent close | $40.21 |
| 30d moving avg. | $40.65 |
| Annualized volatility | 20.0% |
| 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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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 | 54.3% | -6 bp | +0.5% |
| NANR | SPDR S&P North American Natural Resources ETF | 36.5% | -11 bp | -2.0% |
| HAP | VanEck Natural Resources ETF | 35.5% | +4 bp | +0.7% |
| MXI | iShares Global Materials ETF | 28.2% | -5 bp | -2.5% |
| FILL | iShares MSCI Global Energy Producers ETF | 28.1% | -7 bp | +0.7% |
| IXC | iShares Global Energy ETF | 27.3% | -2 bp | -0.2% |
| FTWO | Strive FAANG 2.0 ETF | 26.8% | +3 bp | -4.1% |
| VEGI | iShares MSCI Agriculture Producers ETF | 24.3% | -7 bp | +0.2% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 22.3% | -7 bp | +3.5% |
| IGE | iShares North American Natural Resources ETF | 21.2% | -5 bp | -2.4% |
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
| 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 7/25/2024
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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
GUNR
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™
GUNR
9.3%
Cat. Avg
4.0%
Fund Category: Global
| 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 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. 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.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GUNR
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| GUNR (46 bp) Percentile rank | 29 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GUNR | 46.0 | 2.6 | 48.6 |
| Peer Avg. | 51.3 | 36.4 | 87.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .