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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs NRES: Holdings Overlap & Returns

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NRES holds 33.4% 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 $35m on Nov 2, 2026 for Xtrackers RREEF Global Natural Resources ETF.

GUNR on its own →NRES on its own →
At a glance
27.1%
GUNR in the S&P 500
33.4%
NRES in the S&P 500
+26.8%
GUNR total return, 1 year
+27.4%
NRES 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.

NRES · 1 year to Nov 4, 2026 67% of its weight is outside the S&P 500
67% of its weight is outside the S&P 50033% of NRES's weight is in S&P 500 companies and 67% is outside the index. Holdings as of Aug 31, 2026.33%67%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 37% of the fund · 58 holdings as filed for Aug 31, 2026 · Nasdaq-100: 1% in67% of its weight is outside the S&P 50033% of NRES's weight is in S&P 500 companies and 67% is outside the index. Holdings as of Aug 31, 2026.33%67%inoutside the S&P 500active share 98% · Nasdaq-100: 1% in

33% of NRES's weight is in S&P 500 companies and 67% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

NRES costs 0.01 points a year less; their one-year returns differ by 0.6 points.

Points (pts) are percentage points.

GUNR vs NRES: Holdings Overlap & Returns
MeasureGUNRNRES
Return
Total return, 1 year+26.8%+27.4%
Drawdown
Below its all-time high7.5%, high on Sep 9, 20268.2%, high on Aug 21, 2026
Against its benchmark
What it tracksNatural resourcesNatural resources
Its benchmark, total return, 1 year+32.9%
Against its benchmark, 1 yearbehind by 5.5 pts
Cost and size
Expense ratio0.46%0.45%
Net assets, GUNR as of Jul 31, 2026 and NRES as of Nov 2, 2026$7.2bn$35m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs NRES: Holdings Overlap & Returns
Total returnvs its benchmark
WindowGUNRNRESGUNRNRES
3 months+1.3%+0.7%not measured−0.7 pts vs GNR
6 months−2.5%−3.0%not measured−3.4 pts vs GNR
1 year+26.8%+27.4%not measured−5.5 pts vs GNR
3 years+45.4%–not measured–
Since launchNot the same days: GUNR Sep 2011 · NRES Feb 2024+149.3%+42.8%not measured−8.9 pts vs GNR

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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 NRES Xtrackers RREEF Global Natural Resources ETF · Holds 58 stocks in natural resources, 33% of its weight in S&P 500 companies
Issuer Northern Trust Xtrackers
Theme Natural resources Natural resources
In the S&P 500 27.1% 33.4%
Active share vs the S&P 500 98.3% 98.2%
In the Nasdaq-100 0.4% 0.7%
Holdings 135 58
Top ten, share of the fund 36.6% 37.2%
Expense ratio 0.46% 0.45%
Fee for the differing part 0.47% 0.46%
Total return, 1 year +26.8% +27.4%
vs its benchmark not measured −5.5 pts vs GNR
Below its high −7.5% −8.2%
Net assets, GUNR as of Jul 31, 2026 and NRES as of Nov 2, 2026 $7.2bn $35m

As of Nov 4, 2026. Source: ETFIQ.

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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.

NRES

By weight, 33% of NRES'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 58 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +27.4% with distributions reinvested against +32.9% for its benchmark, the S&P Global Natural Resources Net TR index, so a holder was behind by 5.5 pts. It sits 8.2% below its all-time high of Aug 21, 2026.

Questions people ask

Which is more different from the S&P 500, GUNR or NRES?
GUNR has 27% of its weight in S&P 500 names and NRES has 33%, so GUNR differs more from the index.
Which is cheaper, GUNR or NRES?
GUNR charges 0.46% a year and NRES charges 0.45%, so NRES is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs FTWOGUNR vs CSNRGUNR vs FTRIGUNR vs NANRNRES vs CCNRNRES vs TURFNRES vs CSNRNRES vs IGE
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →NRES on its own →GUNR dividend history →NRES dividend history →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
NRES filings on SEC EDGAR ↗
NRES prospectus with the expense ratio (SEC) ↗
Xtrackers 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.

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

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