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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in FlexShares Morningstar Global Upstream Natural Resources Index Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) has returned 20.75% so far this year and 46.10% over the past 12 months. Over the last ten years, GUNR has had an annualized return of 12.13%, just under the S&P 500 Index benchmark’s 12.16%.
FlexShares Morningstar Global Upstream Natural Resources Index Fund
- 1D
- 1.85%
- 1M
- -0.49%
- YTD
- 20.75%
- 6M
- 27.36%
- 1Y
- 46.10%
- 3Y*
- 12.86%
- 5Y*
- 12.40%
- 10Y*
- 12.13%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Sep 22, 2011, GUNR's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, your investment would double in approximately 8.5 years.
Historically, 55% of months were positive and 45% 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% | 20.75% | |||||||||
| 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 -3.27%, beta of 0.88, and R² of 0.54 versus S&P 500 Index. Calculated based on daily prices since September 23, 2011.
- This ETF participated in 97.43% of S&P 500 Index downside but only 72.96% of its upside — more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -3.27% versus S&P 500 Index — delivering less than market exposure alone would predict.
- With beta of 0.88 and R² of 0.54, 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
- -3.27%
- Beta
- 0.88
- R²
- 0.54
- Upside Capture
- 72.96%
- Downside Capture
- 97.43%
Expense Ratio
GUNR has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GUNR ranks 95 for risk / return — in the top 95% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) and compare them to a chosen benchmark (S&P 500 Index).
| GUNR | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.46 | 0.90 | +1.57 |
Sortino ratioReturn per unit of downside risk | 3.05 | 1.39 | +1.66 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.21 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 3.49 | 1.40 | +2.09 |
Martin ratioReturn relative to average drawdown | 19.54 | 6.61 | +12.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore GUNR risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
FlexShares Morningstar Global Upstream Natural Resources Index Fund provided a 2.21% 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 | 2.21% | 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 | $0.20 | |||||||||
| 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 0.94%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -45.64% | Jul 25, 2014 | 375 | Jan 20, 2016 | 493 | Jan 3, 2018 | 868 |
| -43.04% | Jan 3, 2020 | 52 | Mar 18, 2020 | 182 | Dec 4, 2020 | 234 |
| -24.06% | Apr 19, 2022 | 60 | Jul 14, 2022 | 793 | Sep 11, 2025 | 853 |
| -18.57% | May 22, 2018 | 150 | Dec 24, 2018 | 253 | Dec 26, 2019 | 403 |
| -17.58% | Feb 28, 2012 | 68 | Jun 4, 2012 | 163 | Jan 29, 2013 | 231 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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