- ISIN
- US33939L4077
- CUSIP
- 33939L407
- Issuer
- Northern Trust
- Inception Date
- Sep 16, 2011
- Region
- Developed Markets (Broad)
- Category
- Natural Resources
- Leveraged
- 1x (No leverage)
- Index Tracked
- Morningstar Global Upstream Natural Resources Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $7B
Highlights
- Avg. Volume (1M)
- 300K
- Avg. Volume Value (1M)
- $15.47M
Share Price Chart
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Performance
GUNR Performance Chart
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) is up 15.4% since the beginning of the year. GUNR is currently trading at $52 per share. Investors who bought $1,000 worth of GUNR shares 5 years ago would now be looking at an investment worth $1,650.
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Returns By Period
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) has returned 15.36% so far this year and 33.75% over the past 12 months. Over the last ten years, GUNR has returned 10.25% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
FlexShares Morningstar Global Upstream Natural Resources Index Fund
- 1D
- -1.34%
- 1M
- 5.08%
- 6M
- 4.45%
- YTD
- 15.36%
- 1Y
- 33.75%
- 3Y*
- 10.87%
- 5Y*
- 10.53%
- 10Y*
- 10.25%
- ALL TIME*
- 6.57%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
GUNR Monthly Returns History
Based on dividend-adjusted daily data since Sep 22, 2011, GUNR's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 54% of months were positive and 46% were negative. The best month was Nov 2020 with a return of +15.6%, while the worst month was Mar 2020 at -17.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, GUNR closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +11.9%, while the worst single day was Mar 12, 2020 at -12.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.45% | 9.87% | -0.49% | -0.20% | -2.03% | -8.00% | 6.21% | 15.36% | |||||
| 2025 | 4.35% | -0.24% | 3.23% | -2.58% | 3.31% | 3.58% | 0.57% | 6.59% | 2.64% | -0.75% | 3.31% | 2.87% | 30.03% |
| 2024 | -6.18% | 0.18% | 7.13% | 0.78% | 2.80% | -4.65% | 1.87% | -0.49% | 2.18% | -3.54% | -0.63% | -7.22% | -8.37% |
| 2023 | 5.77% | -7.18% | -0.51% | 1.04% | -9.83% | 5.35% | 6.54% | -4.01% | -0.62% | -4.62% | 3.79% | 3.46% | -2.40% |
| 2022 | 4.63% | 6.56% | 7.19% | -4.59% | 5.21% | -14.37% | 3.83% | 0.78% | -8.14% | 10.22% | 9.29% | -3.45% | 14.83% |
| 2021 | 1.44% | 7.60% | 2.55% | 4.09% | 4.65% | -2.26% | -1.25% | -1.40% | -0.37% | 5.98% | -3.69% | 6.81% | 26.06% |
Benchmark Metrics
FlexShares Morningstar Global Upstream Natural Resources Index Fund has an annualized alpha of -3.59%, beta of 0.86, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since September 22, 2011.
- This ETF participated in 97.78% of S&P 500 Index downside but only 71.17% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -3.59% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.86 and R2 of 0.53, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -3.59%
- Beta
- 0.86
- R²
- 0.53
- Upside Capture
- 71.17%
- Downside Capture
- 97.78%
Expense Ratio
GUNR has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GUNR ranks 80 for risk / return — above 80% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GUNR | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.00 | +0.84 |
| Martin ratioReturn relative to average drawdown | 8.94 | 8.49 | +0.45 |
Dividends
Dividend History
FlexShares Morningstar Global Upstream Natural Resources Index Fund provided a 2.32% dividend yield over the last twelve months, with an annual payout of $1.22 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.22 | $1.29 | $1.23 | $1.45 | $1.79 | $1.42 | $0.91 | $1.09 | $0.96 | $0.67 | $0.50 | $1.00 |
Dividend yield | 2.32% | 2.81% | 3.39% | 3.55% | 4.12% | 3.61% | 2.79% | 3.25% | 3.27% | 2.00% | 1.73% | 4.50% |
Monthly Dividends
The table displays the monthly dividend distributions for FlexShares Morningstar Global Upstream Natural Resources Index Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.35 | $0.00 | $0.55 | |||||
| 2025 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.32 | $1.29 |
| 2024 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.43 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.32 | $1.23 |
| 2023 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.53 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.46 | $1.45 |
| 2022 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.61 | $0.00 | $0.00 | $0.58 | $0.00 | $0.00 | $0.24 | $1.79 |
| 2021 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.54 | $0.00 | $0.00 | $0.40 | $1.42 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the FlexShares Morningstar Global Upstream Natural Resources Index Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the FlexShares Morningstar Global Upstream Natural Resources Index Fund was 45.64%, occurring on Jan 20, 2016. Recovery took 493 trading sessions.
The current FlexShares Morningstar Global Upstream Natural Resources Index Fund drawdown is 5.70%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-45.64%Jan 2016 | 1y 5mo | 1y 11mo | 3y 5moJul 2014 - Jan 2018 | — |
-43.04%Mar 2020 | 2mo 15d | 8mo 21d | 11mo 6dJan 2020 - Dec 2020 | COVID crash2020 |
-24.06%Jul 2022 | 2mo 26d | 3y 2mo | 3y 4moApr 2022 - Sep 2025 | Bear market2022 |
-18.57%Dec 2018 | 7mo 6d | 1y 2d | 1y 7moMay 2018 - Dec 2019 | Rate-hike selloffLate 2018 |
-17.58%Jun 2012 | 3mo 7d | 7mo 29d | 11mo 6dFeb 2012 - Jan 2013 | — |
Drawdown Indicators
| GUNR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.64% | -56.78% | +11.14% |
Max Drawdown (1Y)Largest decline over 1 year | -11.70% | -9.10% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -18.90% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -25.43% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -43.04% | -33.92% | -9.12% |
Current DrawdownCurrent decline from peak | -5.70% | -1.58% | -4.12% |
Average DrawdownAverage peak-to-trough decline | -10.37% | -10.70% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 2.14% | +1.57% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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