GUNR vs. BCIM

Last updated Jun 4, 2026

GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and BCIM (abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF) are both exchange-traded funds - GUNR is a Commodity Producers Equities fund tracking the Morningstar Global Upstream Natural Resources Index, while BCIM is a Metals fund tracking the Bloomberg Industrial Metals. Both are passively managed. A 0.50 correlation means they provide meaningful diversification when combined. GUNR charges 0.46%/yr vs 0.41%/yr for BCIM.

Performance

GUNR vs. BCIM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) and abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GUNR

• 1D: -0.69%
• 1M: 0.04%
• YTD: 19.20%
• 6M: 21.67%
• 1Y: 41.45%
• 3Y*: 14.42%
• 5Y*: 9.93%
• 10Y*: 11.17%

BCIM

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GUNR vs. BCIM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	19.20%	30.03%	-8.37%	-2.40%	14.83%	9.27%
BCIM abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF	0.00%	10.71%	3.30%	-9.68%	-3.29%	4.17%

Correlation

The correlation between GUNR and BCIM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.50

Over the past year, the correlation between GUNR and BCIM has dropped to 0.20 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

GUNR vs. BCIM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GUNR

GUNR Risk / Return Rank: 84
GUNR Sharpe Ratio Rank: 83
GUNR Sortino Ratio Rank: 76
GUNR Omega Ratio Rank: 79
GUNR Calmar Ratio Rank: 92
GUNR Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GUNR vs. BCIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) and abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM). 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.

	GUNR	BCIM	Difference
Sharpe ratio Return per unit of total volatility	2.75	—	—
Sortino ratio Return per unit of downside risk	3.48	—	—
Omega ratio Gain probability vs. loss probability	1.48	—	—
Calmar ratio Return relative to maximum drawdown	6.12	—	—
Martin ratio Return relative to average drawdown	23.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GUNR	BCIM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	—	—

Drawdowns

Drawdown Indicators

	GUNR	BCIM	Difference
Max Drawdown Largest peak-to-trough decline	-45.64%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.04%	—	—
Current Drawdown Current decline from peak	-2.56%	—	—
Average Drawdown Average peak-to-trough decline	-10.40%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	—	—

Volatility

Volatility by Period

	GUNR	BCIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	—	—

GUNR vs. BCIM - Expense Ratio Comparison

GUNR has a 0.46% expense ratio, which is higher than BCIM's 0.41% expense ratio.

Dividends

GUNR vs. BCIM - Dividend Comparison

GUNR's dividend yield for the trailing twelve months is around 2.24%, less than BCIM's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCIM abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF	3.77%	3.77%	11.47%	3.36%	0.72%	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.24%	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 GUNR and BCIM in my portfolio?

GUNR and BCIM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GUNR or BCIM?

On fees, BCIM is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUNR or BCIM?

BCIM is cheaper with a 0.41% expense ratio, compared with 0.46% for GUNR.

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

BCIM has the higher dividend yield at 3.77%, compared with 2.24% for GUNR.

What is the main difference between GUNR and BCIM?

GUNR is categorized as Commodity Producers Equities, while BCIM is Metals. GUNR tracks Morningstar Global Upstream Natural Resources Index, while BCIM tracks Bloomberg Industrial Metals. They also come from different issuers: Northern Trust and Aberdeen. Their fees differ too: 0.46% for GUNR and 0.41% for BCIM.