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Data as of Nov 4, 2026.

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Thematic ETFs

GNR vs SHLD: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, GNR returned +32.9% to SHLD's −8.5%; 0% of their weight is in the same names.

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Net assets: $5.3bn on Nov 3, 2026 for State Street SPDR S&P Global Natural Resources ETF, and $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF.

GNR on its own →SHLD on its own →
At a glance
25.9%
GNR in the S&P 500
52.8%
SHLD in the S&P 500
+32.9%
GNR total return, 1 year
−8.5%
SHLD total return, 1 year
GNR · 1 year to Nov 4, 2026 74% of its weight is outside the S&P 500
74% of its weight is outside the S&P 50026% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 2026.26%74%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 37% of the fund · 104 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 1% in74% of its weight is outside the S&P 50026% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 2026.26%74%inoutside the S&P 500active share 98% · Nasdaq-100: 1% in

26% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 2026.

SHLD · 1 year to Nov 4, 2026 47% of its weight is outside the S&P 500
47% of its weight is outside the S&P 50053% of SHLD's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Aug 31, 2026.53%47%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 99% · top ten 65% of the fund · 50 holdings as filed for Aug 31, 2026 · Nasdaq-100: 11% in47% of its weight is outside the S&P 50053% of SHLD's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Aug 31, 2026.53%47%in the S&P 500outsideactive share 99% · Nasdaq-100: 11% in

53% of SHLD's weight is in S&P 500 companies and 47% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

GNR costs 0.10 points a year less; their one-year returns differ by 41.4 points; SHLD is 1.2 times larger.

GNR vs SHLD: Holdings Overlap & Returns
MeasureGNRSHLD
Return
Total return, 1 year+32.9%−8.5%
Drawdown
Below its all-time high6.8%, high on Sep 9, 202621.4%, high on Mar 9, 2026
Benchmark
What it tracksNatural resourcesDefense
Cost and size
Expense ratio0.40%0.50%
Net assets, as of Oct 12, 2026$5.2bn$6.3bn
Holdings
Holdings in common0%
Top ten holdings, share of the fund36%65%

Method

What they share

0%

By the books each fund has filed, GNR and SHLD hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GNR SHLD
Only in one fund ↓
Only in GNR
SHELL PLC 5.51%
EXXONMOBIL HOLDINGS CORP 5.23%
BHP GROUP LTD 4.44%
NUTRIEN LTD 4.43%
TOTALENERGIES SE 3.68%
CHEVRON CORP 3.00%
UPM KYMMENE OYJ 2.82%
NEWMONT CORP 2.71%
Only in SHLD
PALANTIR TECHNOLOGIES INC. 10.80%
RTX CORPORATION 9.31%
GENERAL DYNAMICS CORPORATION 8.59%
LOCKHEED MARTIN CORPORATION 8.34%
Northrop Grumman Corporation 7.71%
BAE SYSTEMS PLC 4.62%
Rheinmetall Aktiengesellschaft 4.04%
HANWHA AEROSPACE CO., LTD. 3.81%
Check overlap with more funds →

Window by window

Window by window: GNR vs SHLD: Holdings Overlap & Returns
Total return
WindowGNRSHLD
3 months+1.4%−9.2%
6 months+0.4%−9.7%
1 year+32.9%−8.5%
3 years+50.3%+133.6%
Since launchNot the same days: GNR Sep 2010 · SHLD Sep 2023+138.2%+151.4%

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Side by side

GNR State Street SPDR S&P Global Natural Resources ETF · Holds 104 stocks in natural resources, 26% of its weight in S&P 500 companies SHLD Global X Defense Tech ETF · Holds 50 stocks in defense, 53% of its weight in S&P 500 companies
Issuer State Street Global X
Theme Natural resources Defense
In the S&P 500 25.9% 52.8%
Active share vs the S&P 500 97.6% 98.7%
In the Nasdaq-100 0.6% 10.8%
Holdings 104 50
Top ten, share of the fund 36.5% 64.8%
Expense ratio 0.40% 0.50%
Fee for the differing part 0.41% 0.51%
Total return, 1 year +32.9% −8.5%
vs its benchmark not measured not measured
Below its high −6.8% −21.4%
Net assets, GNR as of Nov 3, 2026 and SHLD as of Oct 12, 2026 $5.3bn $6.3bn

As of Nov 4, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund
GNR

By weight, 26% of GNR'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 36% of the fund across 104 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested. It sits 6.8% below its all-time high of Sep 9, 2026.

SHLD

By weight, 53% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 65% of the fund across 50 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned −8.5% with distributions reinvested. It sits 21.4% below its all-time high of Mar 9, 2026.

Questions people ask

Do GNR and SHLD hold the same stocks?
By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, GNR or SHLD?
GNR has 26% of its weight in S&P 500 names and SHLD has 53%, so SHLD differs more from the index.
Which is cheaper, GNR or SHLD?
GNR charges 0.40% a year and SHLD charges 0.50%, so GNR is cheaper. Fees come from each fund's prospectus.
Other comparisons
GNR vs PPAGNR vs XARGNR vs ITAGNR vs QTUMSHLD vs GUNRSHLD vs URASHLD vs SILSHLD vs IFRA
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GNR on its own →SHLD on its own →GNR dividend history →GNR holdings →SHLD dividend history →SHLD holdings →Method →Standards and sources →
Sources and dates
GNR filings on SEC EDGAR ↗
GNR prospectus with the expense ratio (SEC) ↗
State Street website ↗
SHLD filings on SEC EDGAR ↗
SHLD prospectus with the expense ratio (SEC) ↗
Global X page for SHLD ↗

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

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, GNR against SHLD, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gnr-vs-shld

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