NANR
SPDR S&P North American Natural Resources ETF
The SPDR S&P North American Natural Resources ETF tracks an index of US and Canadian firms involved in natural resources and commodities businesses. Firms fall into one of three categories: energy, materials or agriculture.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 883.8 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | SSgA |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 15, 2015 |
| Assets (mns) | $884 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EXXON MOBIL CORP | 10.0 % |
| CHEVRON CORP | 7.0 % |
| NEWMONT MINING CORP | 4.3 % |
| AGNICO-EAGLE MINES LTD | 3.4 % |
| CORTEVA INC | 2.9 % |
| FREEPORT-MCMORAN COPPER | 2.7 % |
| CONOCOPHILLIPS | 2.7 % |
| BARRICK MINING CORP | 2.7 % |
| NUTRIEN LTD. | 2.0 % |
| ARCHER-DANIELS-MIDLAND CO | 1.9 % |
Constituent Breakdown
| Number of holdings | 165 |
| Herfindahl-Hirschman Index | 262 |
| Wgt avg mkt cap (mns) | $99,740 |
| Large cap (>$10bn) | 76.4% |
| Mid cap ($2-10bn) | 13.2% |
| Small cap (<$2bn) | 0.8% |
| Developed mkts. | 89.1% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 62.7 % |
 |
CANADA | 25.6 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 32.7% | 32.7% | 15.3% | 7.8% | 15.4% | 10.4% | -- | 10.4% |
| Dividend Yield | 2.6% | 2.6% | 2.4% | 2.5% | 2.8% | 2.9% | -- | 2.9% |
| Total Returns | 35.4% | 35.4% | 17.7% | 10.2% | 18.3% | 13.3% | -- | 13.3% | Ann. Volatility | 21.3% | 21.3% | 19.6% | 19.6% | 23.3% | 24.0% | -- | 24.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 51% |
| MSCI EAFE | 0.90 | 48% |
| MSCI Emg Mkts | 0.81 | 44% |
Liquidity Measures
| Avg. volume (000) | 50 |
| ADV traded (mns) | $4 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| 30d moving avg. (EMA) | $71.39 |
| Relative strength (RSI) | 73 |
| MACD/Signal | 2.61/2.11 |
| Bollinger Bands (Upper/Lower) | $78.53/$65.69 |
| Short interest (% of AUM) | 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. NANR |
Expenses vs. NANR |
ALTAR Score™ vs. NANR |
|---|---|---|---|---|
| IGE | iShares North American Natural Resources ETF | 47.5% | +6 bp | +6.3% |
| GNR | SPDR S&P Global Natural Resources ETF | 45.7% | +5 bp | +8.3% |
| FTWO | Strive FAANG 2.0 ETF | 42.8% | +14 bp | +4.0% |
| IXC | iShares Global Energy ETF | 37.8% | +9 bp | +8.8% |
| VDE | Vanguard Energy ETF | 36.4% | -26 bp | +8.2% |
| FENY | Fidelity MSCI Energy Index ETF | 36.3% | -27 bp | +8.4% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 35.9% | +11 bp | +7.5% |
| IYE | iShares U.S. Energy ETF | 34.4% | +5 bp | +8.2% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 32.8% | +25 bp | +10.6% |
| XLE | The Energy Select Sector SPDR Fund | 32.4% | -27 bp | +8.3% |
Risk and Returns: NANR 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 1/28/2026
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
NANR
6.4%
Cat. Avg
4.3%
ALTAR Score™ Calculation
Category Overview
There are 536 funds in the Global Equity category, with an average ALTAR Score™
of 4.3% and a standard deviation of
2.6%. NANR's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places NANR in the 79th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NANRSELL
U/W
HOLD
O/W
BUY