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
$ 7.8 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
| CORTEVA INC | 5.1 % |
| EXXON MOBIL CORP | 5.0 % |
| NUTRIEN LTD. | 4.8 % |
| BHP BILLITON LTD | 4.3 % |
| SHELL PLC | 3.9 % |
| CHEVRON CORP | 3.8 % |
| ARCHER-DANIELS-MIDLAND CO | 3.3 % |
| TOTAL SA | 2.9 % |
| RIO TINTO PLC | 2.3 % |
| NEWMONT MINING CORP | 2.0 % |
Constituent Breakdown
| Number of holdings | 169 |
| Herfindahl-Hirschman Index | 208 |
| 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. | 83.4% |
| Emerging mkts. | 14.5% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 34.6 % |
 |
CANADA | 18.1 % |
 |
BRITAIN | 10.4 % |
 |
AUSTRALIA | 6.6 % |
 |
NORWAY | 3.8 % |
 |
BRAZIL | 3.4 % |
 |
FRANCE | 2.9 % |
 |
SAUDI ARABIA | 2.0 % |
 |
CHINA | 1.9 % |
 |
QATAR | 1.5 % |
Historical Performance
Standardized Performance (as of 04/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 20.1% | 45.6% | 15.3% | 8.8% | 7.9% | 7.4% | -- | 3.6% |
| Dividend Yield | 0.0% | 3.5% | 3.4% | 3.4% | 3.8% | 3.4% | -- | 3.0% |
| Total Returns | 20.1% | 49.1% | 18.7% | 12.3% | 11.6% | 10.8% | -- | 6.6% | Ann. Volatility | 19.6% | 14.9% | 16.6% | 16.4% | 19.1% | 20.5% | -- | 20.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.44 | 14% |
| MSCI EAFE | 0.55 | 29% |
| MSCI Emg Mkts | 0.41 | 26% |
Liquidity Measures
| Avg. volume (000) | 326 |
| ADV traded (mns) | $18 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.05% |
Technical Indicators
| 30d moving avg. (EMA) | $54.78 |
| Relative strength (RSI) | 52 |
| MACD/Signal | 0.15/0.12 |
| Bollinger Bands (Upper/Lower) | $55.81/$53.71 |
| 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 | 54.5% | -6 bp | +0.7% |
| NANR | SPDR S&P North American Natural Resources ETF | 36.4% | -11 bp | -1.0% |
| HAP | VanEck Natural Resources ETF | 35.1% | +4 bp | -0.9% |
| FTWO | Strive FAANG 2.0 ETF | 28.6% | +3 bp | -3.2% |
| IXC | iShares Global Energy ETF | 28.4% | -2 bp | +0.0% |
| VEGI | iShares MSCI Agriculture Producers ETF | 25.7% | -7 bp | +0.2% |
| JIVE | JPMorgan International Value ETF | 25.7% | +9 bp | +1.6% |
| MXI | iShares Global Materials ETF | 23.4% | -5 bp | -1.9% |
| GCOW | Pacer Global Cash Cows Dividend ETF | 21.9% | +14 bp | +1.7% |
| IGE | iShares North American Natural Resources ETF | 21.3% | -5 bp | -1.5% |
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 5/24/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
7.4%
ALTAR SCORE™
88th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 713 funds in the Global Equity category with an average
ALTAR Score™ of 4.3% and a standard deviation
of 2.6%. GUNR's ALTAR Score™ is approximately 1.2 standard
deviations above the category average. This places GUNR in the 88th percentile
among funds in the category.
Sell-Side Consensus
$55.69
PRICE TARGET
+2.6%
UPSIDE