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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs IGV: Holdings Overlap & Returns

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IGV holds 79.8% 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 $12.8bn on Nov 3, 2026 for iShares Expanded Tech-Software Sector ETF.

GUNR on its own →IGV on its own →
At a glance
27.1%
GUNR in the S&P 500
79.8%
IGV in the S&P 500
+26.8%
GUNR total return, 1 year
−7.5%
IGV 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.

IGV · 1 year to Nov 4, 2026 20% of its weight is outside the S&P 500
20% of its weight is outside the S&P 50080% of IGV's weight is in S&P 500 companies and 20% is outside the index. Holdings as of Nov 3, 2026.80%20%of its weight in S&P 500 companiesoutside the S&P 500active share 92% · top ten 60% of the fund · 107 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 64% in20% of its weight is outside the S&P 50080% of IGV's weight is in S&P 500 companies and 20% is outside the index. Holdings as of Nov 3, 2026.80%20%in the S&P 50020% of its weight outside the S&P 500active share 92% · Nasdaq-100: 64% in

80% of IGV's weight is in S&P 500 companies and 20% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

IGV costs 0.08 points a year less; their one-year returns differ by 34.3 points.

GUNR vs IGV: Holdings Overlap & Returns
MeasureGUNRIGV
Return
Total return, 1 year+26.8%−7.5%
Drawdown
Below its all-time high7.5%, high on Sep 9, 202612.1%, high on Sep 22, 2025
Benchmark
What it tracksNatural resourcesCloud and software
Cost and size
Expense ratio0.46%0.38%
Net assets, GUNR as of Jul 31, 2026 and IGV as of Nov 3, 2026$7.2bn$12.8bn
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs IGV: Holdings Overlap & Returns
Total return
WindowGUNRIGV
3 months+1.3%+2.2%
6 months−2.5%+17.9%
1 year+26.8%−7.5%
3 years+45.4%+48.1%
Since launchNot the same days: GUNR Sep 2011 · IGV Jul 2001+149.3%+931.8%

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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 IGV iShares Expanded Tech-Software Sector ETF · Holds 107 stocks in cloud and software, 80% of its weight in S&P 500 companies
Issuer Northern Trust iShares
Theme Natural resources Cloud and software
In the S&P 500 27.1% 79.8%
Active share vs the S&P 500 98.3% 92.4%
In the Nasdaq-100 0.4% 64.2%
Holdings 135 107
Top ten, share of the fund 36.6% 59.5%
Expense ratio 0.46% 0.38%
Fee for the differing part 0.47% 0.41%
Total return, 1 year +26.8% −7.5%
vs its benchmark not measured not measured
Below its high −7.5% −12.1%
Net assets, GUNR as of Jul 31, 2026 and IGV as of Nov 3, 2026 $7.2bn $12.8bn

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.

IGV

By weight, 80% of IGV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 60% of the fund across 107 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned −7.5% with distributions reinvested. It sits 12.1% below its all-time high of Sep 22, 2025.

Questions people ask

Which is more different from the S&P 500, GUNR or IGV?
GUNR has 27% of its weight in S&P 500 names and IGV has 80%, so GUNR differs more from the index.
Which is cheaper, GUNR or IGV?
GUNR charges 0.46% a year and IGV charges 0.38%, so IGV is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs CIBRGUNR vs PPAGUNR vs COPXGUNR vs SHLDIGV vs GNRIGV vs ARTYIGV vs BOTZIGV vs NLR
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →IGV on its own →GUNR dividend history →IGV dividend history →IGV holdings →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
IGV filings on SEC EDGAR ↗
IGV prospectus with the expense ratio (SEC) ↗
iShares page for IGV ↗

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 IGV, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gunr-vs-igv

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