Which is more different from the S&P 500, AIRR or GUNR?

AIRR has 15% of its weight in S&P 500 names and GUNR has 27%, so AIRR differs more from the index.

Which is cheaper, AIRR or GUNR?

AIRR charges 0.69% a year and GUNR charges 0.46%, so GUNR is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AIRR vs GUNR: Holdings Overlap & Returns

Share on X Download as PDF

GUNR holds 27.1% of its weight in S&P 500 companies and AIRR 14.7%.

askIQ about this page

askIQ about AIRR and GUNR

Net assets: $8.6bn on Nov 3, 2026 for First Trust RBA American Industrial Renaissance ETF, and $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF.

AIRR on its own →GUNR on its own →

At a glance

14.7%

AIRR in the S&P 500

27.1%

GUNR in the S&P 500

−0.7%

AIRR total return, 1 year

+26.8%

GUNR total return, 1 year

AIRR · 1 year to Nov 4, 2026 85% of its weight is outside the S&P 500

15% of AIRR's weight is in S&P 500 companies and 85% is outside the index. Holdings as of Nov 3, 2026.

GUNR · 1 year to Nov 4, 2026 73% of its weight is outside the S&P 500

27% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

GUNR costs 0.23 points a year less; their one-year returns differ by 27.5 points.

Points (pts) are percentage points.

AIRR vs GUNR: Holdings Overlap & Returns
Measure	AIRR	GUNR
Return
Measure	AIRR	GUNR
Total return, 1 year	−0.7%	+26.8%
Drawdown
Measure	AIRR	GUNR
Below its all-time high	26.9%, high on Jun 22, 2026	7.5%, high on Sep 9, 2026
Against its benchmark
Measure	AIRR	GUNR
What it tracks	Reshoring and manufacturing	Natural resources
Against the S&P 500, 1 year	behind by 15.5 pts
Its benchmark, total return, 1 year	+14.8%
Against its benchmark, 1 year	behind by 15.5 pts
Cost and size
Measure	AIRR	GUNR
Expense ratio	0.69%	0.46%
Net assets, AIRR as of Nov 3, 2026 and GUNR as of Jul 31, 2026	$8.6bn	$7.2bn
Holdings
Measure	AIRR	GUNR
Holdings in common	not published

Method

Window by window

Window by window: AIRR vs GUNR: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AIRR	GUNR	AIRR	GUNR
3 months	−20.2%	+1.3%	−20.1 pts vs VOO	not measured
6 months	−26.2%	−2.5%	−31.2 pts vs VOO	not measured
1 year	−0.7%	+26.8%	−15.5 pts vs VOO	not measured
3 years	+96.7%	+45.4%	+13.4 pts vs VOO	not measured
Since launchNot the same days: AIRR Mar 2014 · GUNR Sep 2011	+409.0%	+149.3%	−1.9 pts vs VOO	not measured

Open this comparison in the app →

Side by side

AIRR First Trust RBA American Industrial Renaissance ETF · Holds 55 stocks in reshoring and manufacturing, 15% of its weight in S&P 500 companies GUNR Northern Trust Morningstar Global Upstream Natural Resources ETF · Holds 135 stocks in natural resources, 27% of its weight in S&P 500 companies

Issuer First Trust Northern Trust

Theme Reshoring and manufacturing Natural resources

In the S&P 500 14.7% 27.1%

Active share vs the S&P 500 99.8% 98.3%

In the Nasdaq-100 not published 0.4%

Holdings 55 135

Top ten, share of the fund 33.5% 36.6%

Expense ratio 0.69% 0.46%

Fee for the differing part 0.69% 0.47%

Total return, 1 year −0.7% +26.8%

vs its benchmark −15.5 pts vs VOO not measured

Below its high −26.9% −7.5%

Net assets, AIRR as of Nov 3, 2026 and GUNR as of Jul 31, 2026 $8.6bn $7.2bn

As of Nov 4, 2026. Source: ETFIQ.

Client brief:

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.

The top ten holdings are 34% of the fund across 55 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −0.7% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 15.5 pts. It sits 26.9% below its all-time high of Jun 22, 2026.

GUNR

By weight, 27% of GUNR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 37% of the fund across 135 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +26.8% with distributions reinvested. It sits 7.5% below its all-time high of Sep 9, 2026.

Questions people ask

Which is more different from the S&P 500, AIRR or GUNR?: AIRR has 15% of its weight in S&P 500 names and GUNR has 27%, so AIRR differs more from the index.
Which is cheaper, AIRR or GUNR?: AIRR charges 0.69% a year and GUNR charges 0.46%, so GUNR is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIRR vs GNR AIRR vs COPX AIRR vs PPA AIRR vs SHLD GUNR vs PPA GUNR vs SHLD GUNR vs PAVE GUNR vs URA

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIRR on its own →GUNR on its own →AIRR dividend history →AIRR holdings →GUNR dividend history →Method →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

GUNR filings on SEC EDGAR ↗

GUNR prospectus with the expense ratio (SEC) ↗

Northern Trust website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIRR against GUNR, data as of Nov 4, 2026. https://etfiq.com/compare/themes/airr-vs-gunr

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.