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Data as of Nov 4, 2026.

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Thematic ETFs

GUNR vs XBI: Holdings Overlap & Returns

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GUNR holds 27.1% of its weight in S&P 500 companies and XBI 13.9%.

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Net assets: $7.2bn on Jul 31, 2026 for Northern Trust Morningstar Global Upstream Natural Resources ETF, and $10.6bn on Nov 3, 2026 for State Street SPDR S&P Biotech ETF.

GUNR on its own →XBI on its own →
At a glance
27.1%
GUNR in the S&P 500
13.9%
XBI in the S&P 500
+26.8%
GUNR total return, 1 year
+47.9%
XBI 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.

XBI · 1 year to Nov 4, 2026 86% of its weight is outside the S&P 500
86% of its weight is outside the S&P 50014% of XBI's weight is in S&P 500 companies and 86% is outside the index. Holdings as of Nov 3, 2026.14%86%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 18% of the fund · 165 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 8% in86% of its weight is outside the S&P 50014% of XBI's weight is in S&P 500 companies and 86% is outside the index. Holdings as of Nov 3, 2026.14%86%inof its weight outside the S&P 500active share 98% · Nasdaq-100: 8% in

14% of XBI's weight is in S&P 500 companies and 86% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

XBI costs 0.11 points a year less; their one-year returns differ by 21.1 points.

GUNR vs XBI: Holdings Overlap & Returns
MeasureGUNRXBI
Return
Total return, 1 year+26.8%+47.9%
Drawdown
Below its all-time high7.5%, high on Sep 9, 20268.0%, high on Feb 8, 2021
Benchmark
What it tracksNatural resourcesBiotech
Cost and size
Expense ratio0.46%0.35%
Net assets, GUNR as of Jul 31, 2026 and XBI as of Nov 3, 2026$7.2bn$10.6bn
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: GUNR vs XBI: Holdings Overlap & Returns
Total return
WindowGUNRXBI
3 months+1.3%+4.0%
6 months−2.5%+15.7%
1 year+26.8%+47.9%
3 years+45.4%+124.0%
Since launchNot the same days: GUNR Sep 2011 · XBI Feb 2006+149.3%+925.0%

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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 XBI State Street SPDR S&P Biotech ETF · Holds 165 stocks in biotech, 14% of its weight in S&P 500 companies
Issuer Northern Trust State Street
Theme Natural resources Biotech
In the S&P 500 27.1% 13.9%
Active share vs the S&P 500 98.3% 98.4%
In the Nasdaq-100 0.4% 7.6%
Holdings 135 165
Top ten, share of the fund 36.6% 18.1%
Expense ratio 0.46% 0.35%
Fee for the differing part 0.47% 0.36%
Total return, 1 year +26.8% +47.9%
vs its benchmark not measured not measured
Below its high −7.5% −8.0%
Net assets, GUNR as of Jul 31, 2026 and XBI as of Nov 3, 2026 $7.2bn $10.6bn

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.

XBI

By weight, 14% of XBI'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 18% of the fund across 165 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +47.9% with distributions reinvested. It sits 8.0% below its all-time high of Feb 8, 2021.

Questions people ask

Which is more different from the S&P 500, GUNR or XBI?
GUNR has 27% of its weight in S&P 500 names and XBI has 14%, so XBI differs more from the index.
Which is cheaper, GUNR or XBI?
GUNR charges 0.46% a year and XBI charges 0.35%, so XBI is cheaper. Fees come from each fund's prospectus.
Other comparisons
GUNR vs IBBGUNR vs AIQGUNR vs IGFGUNR vs GRIDXBI vs GNRXBI vs SILXBI vs IFRAXBI vs XT
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →GUNR on its own →XBI on its own →GUNR dividend history →XBI dividend history →XBI holdings →Method →Standards and sources →
Sources and dates
GUNR filings on SEC EDGAR ↗
GUNR prospectus with the expense ratio (SEC) ↗
Northern Trust website ↗
XBI filings on SEC EDGAR ↗
XBI prospectus with the expense ratio (SEC) ↗
State Street 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 XBI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gunr-vs-xbi

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