ESGG vs. GUNR

Last updated Aug 4, 2026

ESGG (FlexShares STOXX Global ESG Select Index Fund) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - ESGG is a Large Cap Growth Equities fund tracking the STOXX Global ESG Select KPIs Index, while GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index. Both are passively managed. Over the past 10 years, ESGG returned 13.94%/yr vs 10.05%/yr for GUNR. Their 0.60 correlation means they have sometimes moved together and sometimes differently. ESGG charges 0.42%/yr vs 0.46%/yr for GUNR.

Performance

ESGG vs. GUNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares STOXX Global ESG Select Index Fund (ESGG) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ESGG having a 14.95% return and GUNR slightly lower at 14.39%. Over the past 10 years, ESGG has outperformed GUNR with an annualized return of 13.94%, while GUNR has yielded a comparatively lower 10.05% annualized return.

ESGG

• 1D: 0.53%
• 1M: 1.39%
• 6M: 11.36%
• YTD: 14.95%
• 1Y: 27.50%
• 3Y*: 20.42%
• 5Y*: 12.16%
• 10Y*: 13.94%
• ALL TIME*: 13.88%

GUNR

• 1D: -0.84%
• 1M: 4.20%
• 6M: 3.67%
• YTD: 14.39%
• 1Y: 32.63%
• 3Y*: 11.02%
• 5Y*: 10.41%
• 10Y*: 10.05%
• ALL TIME*: 6.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ESGG FlexShares STOXX Global ESG Select Index Fund	$88.70K	$102.70K	$84.24K
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	$77.78M	$41.91M	$28.99M

ESGG vs. GUNR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESGG FlexShares STOXX Global ESG Select Index Fund	14.95%	24.01%	14.48%	25.57%	-18.66%	23.76%	17.32%	29.10%	-8.44%	23.60%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	14.39%	30.03%	-8.37%	-2.40%	14.83%	26.06%	0.46%	18.41%	-9.42%	18.74%

Correlation

The correlation between ESGG and GUNR is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.60
Correlation (All Time) Calculated using the full available price history since Jul 14, 2016	0.60

The correlation between ESGG and GUNR shifts across timeframes, from 0.43 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.

ESGG vs. GUNR - Sectors Allocation Comparison

Sectors	ESGG	GUNR
Technology	40.0%	0.5%
Financial Services	19.5%	0.0%
Healthcare	14.1%	-
Industrials	6.8%	0.5%
Consumer Defensive	5.4%	11.8%
Consumer Cyclical	4.4%	0.4%
Energy	4.2%	29.2%
Basic Materials	2.0%	52.3%
Utilities	1.4%	5.4%
Communication Services	1.3%	1.7%
Real Estate	1.1%	1.2%

Return for Risk

ESGG vs. GUNR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ESGG

ESGG Risk / Return Rank: 83
ESGG Sharpe Ratio Rank: 85
ESGG Sortino Ratio Rank: 85
ESGG Omega Ratio Rank: 83
ESGG Calmar Ratio Rank: 79
ESGG Martin Ratio Rank: 85

GUNR

GUNR Risk / Return Rank: 79
GUNR Sharpe Ratio Rank: 85
GUNR Sortino Ratio Rank: 79
GUNR Omega Ratio Rank: 82
GUNR Calmar Ratio Rank: 77
GUNR Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ESGG vs. GUNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global ESG Select Index Fund (ESGG) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ESGG	GUNR	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.06	+0.04
Sortino ratio: Return per unit of downside risk	2.96	2.64	+0.32
Omega ratio: Gain probability vs. loss probability	1.37	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	3.01	2.80	+0.21
Martin ratio: Return relative to average drawdown	12.72	8.76	+3.97

ESGG vs. GUNR - Sharpe Ratio Comparison

The current ESGG Sharpe Ratio is 2.09, which is comparable to the GUNR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of ESGG and GUNR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ESGG vs. GUNR - Drawdown Comparison

The maximum ESGG drawdown since its inception was -32.31%, smaller than the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for ESGG and GUNR.

Drawdown Indicators

	ESGG	GUNR	Difference
Max Drawdown Largest peak-to-trough decline	-32.31%	-45.64%	+13.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-11.70%	+2.54%
Max Drawdown (3Y) Largest decline over 3 years	-16.71%	-19.59%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-24.06%	-3.51%
Max Drawdown (10Y) Largest decline over 10 years	-32.31%	-43.04%	+10.73%
Current Drawdown Current decline from peak	-0.29%	-6.49%	+6.20%
Average Drawdown Average peak-to-trough decline	-4.61%	-10.37%	+5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	3.74%	-1.57%

Volatility

ESGG vs. GUNR - Volatility Comparison

FlexShares STOXX Global ESG Select Index Fund (ESGG) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) have volatilities of 4.19% and 4.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESGG	GUNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	4.06%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	12.60%	-1.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.24%	15.98%	-2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	18.95%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	20.33%	-3.78%

ESGG vs. GUNR - Expense Ratio Comparison

ESGG has a 0.42% expense ratio, which is lower than GUNR's 0.46% expense ratio.

Dividends

ESGG vs. GUNR - Dividend Comparison

ESGG's dividend yield for the trailing twelve months is around 1.28%, less than GUNR's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESGG FlexShares STOXX Global ESG Select Index Fund	1.28%	1.39%	1.84%	1.73%	1.83%	1.34%	1.36%	1.94%	2.12%	1.71%	0.87%	0.00%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.34%	2.81%	3.39%	3.55%	4.12%	3.61%	2.79%	3.25%	3.27%	2.00%	1.73%	4.50%

Frequently Asked Questions

Can I hold both ESGG and GUNR in my portfolio?

ESGG and GUNR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESGG or GUNR?

ESGG has higher volatility (4.19%) compared to GUNR (4.06%). In terms of maximum drawdown, ESGG dropped -32.31% vs GUNR's -45.64%.

Which ETF is better, ESGG or GUNR?

On 10-year performance, ESGG leads with 13.94% vs 10.05% for GUNR. On fees, ESGG is cheaper at 0.42% per year. On volatility, GUNR has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESGG or GUNR?

Over the 10-year period, ESGG has performed better with a 13.94% return vs 10.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESGG or GUNR?

ESGG is cheaper with a 0.42% expense ratio, compared with 0.46% for GUNR.

Which ETF pays a higher dividend yield, ESGG or GUNR?

GUNR has the higher dividend yield at 2.34%, compared with 1.28% for ESGG.

What is the main difference between ESGG and GUNR?

ESGG is categorized as Large Cap Growth Equities, while GUNR is Natural Resources. ESGG tracks STOXX Global ESG Select KPIs Index, while GUNR tracks Morningstar Global Upstream Natural Resources Index. Their fees differ too: 0.42% for ESGG and 0.46% for GUNR.

Which has better risk-adjusted returns?

ESGG currently has the higher Sharpe Ratio (2.09 vs 2.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.