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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs IGE: Holdings Overlap & Returns

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IGE holds 49.1% of its weight in S&P 500 companies and GUNR 27.1%.

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Net assets: $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF, and $797m on Nov 4, 2026 for iShares North American Natural Resources ETF.

GUNR on its own →IGE on its own →
At a glance
27.1%
GUNR in the S&P 500
49.1%
IGE in the S&P 500
+26.8%
GUNR total return, 1 year
+37.1%
IGE total return, 1 year
GUNR · 1 year to Nov 4, 2026 73% of its weight is outside the S&P 500
73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 37% of the fund · 135 holdings as filed for Jul 31, 2026 · Nasdaq-100: 0% in73% of its weight is outside the S&P 50027% of GUNR's weight is in S&P 500 companies and 73% is outside the index. Holdings as of Jul 31, 2026.27%73%inoutside the S&P 500active share 98% · Nasdaq-100: 0% in

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

IGE · 1 year to Nov 4, 2026 51% of its weight is outside the S&P 500
51% of its weight is outside the S&P 50049% of IGE's weight is in S&P 500 companies and 51% is outside the index. Holdings as of Nov 3, 2026.49%51%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 45% of the fund · 151 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 2% in51% of its weight is outside the S&P 50049% of IGE's weight is in S&P 500 companies and 51% is outside the index. Holdings as of Nov 3, 2026.49%51%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 2% in

49% of IGE's weight is in S&P 500 companies and 51% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

IGE costs 0.09 points a year less; their one-year returns differ by 10.3 points.

GUNR vs IGE: Holdings Overlap & Returns
MeasureGUNRIGE
Return
Total return, 1 year+26.8%+37.1%
Drawdown
Below its all-time high7.5%, high on Sep 9, 20265.4%, high on Oct 30, 2026
Benchmark
What it tracksNatural resourcesNatural resources
Cost and size
Expense ratio0.46%0.37%
Net assets, GUNR as of Jul 31, 2026 and IGE as of Nov 4, 2026$7.2bn$797m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs IGE: Holdings Overlap & Returns
Total return
WindowGUNRIGE
3 months+1.3%+5.8%
6 months−2.5%+4.0%
1 year+26.8%+37.1%
3 years+45.4%+64.8%
Since launchNot the same days: GUNR Sep 2011 · IGE Nov 2001+149.3%+595.7%

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Side by side

GUNR Northern Trust Morningstar Global Upstream Natural Resources ETF · Holds 135 stocks in natural resources, 27% of its weight in S&P 500 companies IGE iShares North American Natural Resources ETF · Holds 151 stocks in natural resources, 49% of its weight in S&P 500 companies
Issuer Northern Trust iShares
Theme Natural resources Natural resources
In the S&P 500 27.1% 49.1%
Active share vs the S&P 500 98.3% 97.5%
In the Nasdaq-100 0.4% 2.3%
Holdings 135 151
Top ten, share of the fund 36.6% 45.0%
Expense ratio 0.46% 0.37%
Fee for the differing part 0.47% 0.38%
Total return, 1 year +26.8% +37.1%
vs its benchmark not measured not measured
Below its high −7.5% −5.4%
Net assets, GUNR as of Jul 31, 2026 and IGE as of Nov 4, 2026 $7.2bn $797m

As of Nov 4, 2026. Source: ETFIQ.

Client brief:

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About each fund
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.

IGE

By weight, 49% of IGE'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 45% of the fund across 151 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +37.1% with distributions reinvested. It sits 5.4% below its all-time high of Oct 30, 2026.

Questions people ask

Which is more different from the S&P 500, GUNR or IGE?
GUNR has 27% of its weight in S&P 500 names and IGE has 49%, so GUNR differs more from the index.
Which is cheaper, GUNR or IGE?
GUNR charges 0.46% a year and IGE charges 0.37%, so IGE is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs HAPGUNR vs NANRGUNR vs MGNRGUNR vs CCNRIGE vs MGNRIGE vs CCNRIGE vs CSNRIGE vs NRES
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →IGE on its own →GUNR dividend history →IGE dividend history →IGE holdings →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
IGE filings on SEC EDGAR ↗
IGE prospectus with the expense ratio (SEC) ↗
iShares page for IGE ↗

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

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

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

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