FlexShares Morningstar Global Upstream Natural Resources Index Fund (NYSE:GUNR) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar® Global Upstream Natural Resources IndexSM. The fund will invest at least 80% of its total assets (exclusive of collateral held from securities lending) in the securities of the index and in ADRs and GDRs based on the securities in the index. The index reflects the performance of a selection of equity securities that are traded in or are issued by companies domiciled in global developed or emerging markets, as determined by the index provider pursuant to its index methodology. It is non-diversified.

finviz dynamic chart for GUNR

GUNR focuses on the “upstream” portion of the natural resources supply chain, maintaining meaningful exposure to the water and timber industries along with positions in companies engaged in energy production, metals extraction, and agriculture. GUNR consists of many well known stocks that are also found in other commodity-related products. GUNR is tilted heavily towards mega cap stocks, including Big Oil and major mining furms.

Fund Overview

  • Net Assets 5.49 Billions
  • YTD Daily Total Return 18.52%
  • Yield 2.46%
  • Annual Expense Ratio 0.46%

Performance Overview

  • 18.52% YTD Daily Total Return
  • 30.18% 1-Year Daily Total Return
  • 8.54% 3-Year Daily Total Return

The GUNR portfolio consists of a number of names that are probably widely recognized by most investors, including mega cap energy and mining firms. With more than 100 individual components, GUNR offers relatively deep exposure to the global commodity sector; it also achieves impressive balance, spreading holdings relatively evenly across the basket of stocks. In terms of expenses, GUNR is towards the low end for this corner of the ETF market.

Top 10 Holdings (33.62% of Total Assets)

NameSymbol% Assets
Exxon Mobil CorpXOM5.09%
Chevron CorpCVX4.57%
BHP Group LtdBHP.AX3.94%
Corteva IncCTVA3.51%
Rio Tinto PLCRIO.L3.26%
Archer-Daniels Midland CoADM3.12%
Nutrien LtdNTR.TO2.90%
Vale SAVALE3.SA2.64%
TotalEnergies SETTE.PA2.44%
Tyson Foods Inc Class ATSN2.15%

GUNR may appeal to investors who want an “indirect” exposure to commodity prices. Because the profitability of the component stocks tends to move in unison with spot prices of the underlying resources, this fund should perform well when natural resource prices are on the rise.

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