Data as of Nov 4, 2026.
GNR vs SMH: Holdings Overlap & Returns
Over the year to Nov 4, 2026, GNR returned +32.9% to SMH's +43.4%; 0% of their weight is in the same names.
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Net assets on Nov 3, 2026: $5.3bn for State Street SPDR S&P Global Natural Resources ETF and $67.3bn for VanEck Semiconductor ETF.
26% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 2026.
79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Nov 2, 2026.
Pair scorecard
SMH costs 0.05 points a year less; their one-year returns differ by 10.5 points; SMH is 12.7 times larger.
Points (pts) are percentage points.
| Measure | GNR | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | +32.9% | +43.4% |
| Drawdown | ||
| Below its all-time high | 6.8%, high on Sep 9, 2026 | 24.6%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Natural resources | Semiconductors |
| Its benchmark, total return, 1 year | +15.0% | |
| Against its benchmark, 1 year | ahead by 28.4 pts | |
| Cost and size | ||
| Expense ratio | 0.40% | 0.35% |
| Net assets, as of Nov 3, 2026 | $5.3bn | $67.3bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 36% | 70% |
What they share
By the books each fund has filed, GNR and SMH hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GNR | SMH | GNR | SMH |
| 3 months | +1.4% | −11.5% | not measured | −10.2 pts vs ACWI |
| 6 months | +0.4% | −8.3% | not measured | −10.9 pts vs ACWI |
| 1 year | +32.9% | +43.4% | not measured | +28.4 pts vs ACWI |
| 3 years | +50.3% | +241.8% | not measured | +164.2 pts vs ACWI |
| Since launchNot the same days: GNR Sep 2010 · SMH Dec 2011 | +138.2% | +3,851.6% | not measured | +3,444.2 pts vs ACWI |
Side by side
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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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.
SMH
By weight, 79% of SMH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 81%. The top ten holdings are 70% of the fund across 25 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +43.4% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 28.4 pts. It sits 24.6% below its all-time high of Jun 22, 2026.
Questions people ask
- Do GNR and SMH 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.
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.
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ETFIQ, GNR against SMH, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gnr-vs-smh
ETFIQ. (Nov 4, 2026). GNR against SMH. Retrieved from https://etfiq.com/compare/themes/gnr-vs-smh
[GNR against SMH (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/gnr-vs-smh)
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