GUNR vs. CSNR

Last updated Jun 4, 2026

GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and CSNR (Cohen & Steers Natural Resources Active ETF) are both Commodity Producers Equities funds. GUNR is passively managed, while CSNR is actively managed. Over the past year, GUNR returned 41.45% vs 47.34% for CSNR. Their correlation of 0.94 suggests significant overlap in exposure. GUNR charges 0.46%/yr vs 0.50%/yr for CSNR.

Performance

GUNR vs. CSNR - 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 Cohen & Steers Natural Resources Active ETF (CSNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUNR achieves a 19.20% return, which is significantly lower than CSNR's 21.88% return.

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%

CSNR

• 1D: -0.56%
• 1M: 1.40%
• YTD: 21.88%
• 6M: 24.62%
• 1Y: 47.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GUNR vs. CSNR - Yearly Performance Comparison

	2026 (YTD)	2025
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	19.20%	23.84%
CSNR Cohen & Steers Natural Resources Active ETF	21.88%	26.55%

Correlation

The correlation between GUNR and CSNR is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.94

The correlation between GUNR and CSNR has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

Return for Risk

GUNR vs. CSNR — 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

CSNR

CSNR Risk / Return Rank: 86
CSNR Sharpe Ratio Rank: 86
CSNR Sortino Ratio Rank: 81
CSNR Omega Ratio Rank: 81
CSNR Calmar Ratio Rank: 90
CSNR 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. CSNR - 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 Cohen & Steers Natural Resources Active ETF (CSNR). 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	CSNR	Difference
Sharpe ratio Return per unit of total volatility	2.75	2.81	-0.06
Sortino ratio Return per unit of downside risk	3.48	3.59	-0.11
Omega ratio Gain probability vs. loss probability	1.48	1.48	0.00
Calmar ratio Return relative to maximum drawdown	6.12	5.67	+0.44
Martin ratio Return relative to average drawdown	23.21	22.27	+0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GUNR vs. CSNR - Sharpe Ratio Comparison

The current GUNR Sharpe Ratio is 2.75, which is comparable to the CSNR Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of GUNR and CSNR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GUNR	CSNR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	2.81	-0.06
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	1.97	-1.65

Drawdowns

GUNR vs. CSNR - Drawdown Comparison

The maximum GUNR drawdown since its inception was -45.64%, which is greater than CSNR's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for GUNR and CSNR.

Drawdown Indicators

	GUNR	CSNR	Difference
Max Drawdown Largest peak-to-trough decline	-45.64%	-15.33%	-30.31%
Max Drawdown (1Y) Largest decline over 1 year	-6.81%	-8.39%	+1.58%
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%	-1.42%	-1.14%
Average Drawdown Average peak-to-trough decline	-10.40%	-1.82%	-8.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.13%	-0.34%

Volatility

GUNR vs. CSNR - Volatility Comparison

FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) and Cohen & Steers Natural Resources Active ETF (CSNR) have volatilities of 4.39% and 4.24%, 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

	GUNR	CSNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.24%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	13.65%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	16.94%	-1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	19.77%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	19.77%	+0.65%

GUNR vs. CSNR - Expense Ratio Comparison

GUNR has a 0.46% expense ratio, which is lower than CSNR's 0.50% expense ratio.

Dividends

GUNR vs. CSNR - Dividend Comparison

GUNR's dividend yield for the trailing twelve months is around 2.24%, more than CSNR's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSNR Cohen & Steers Natural Resources Active ETF	1.98%	2.39%	0.00%	0.00%	0.00%	0.00%	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 CSNR in my portfolio?

With a correlation of 0.94, GUNR and CSNR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GUNR or CSNR?

GUNR has higher volatility (4.39%) compared to CSNR (4.24%). In terms of maximum drawdown, GUNR dropped -45.64% vs CSNR's -15.33%.

Which ETF is better, GUNR or CSNR?

On 1-year performance, CSNR leads with 47.34% vs 41.45% for GUNR. On fees, GUNR is cheaper at 0.46% per year. On volatility, CSNR has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUNR or CSNR?

Over the 1-year period, CSNR has performed better with a 47.34% return vs 41.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUNR or CSNR?

GUNR is cheaper with a 0.46% expense ratio, compared with 0.50% for CSNR.

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

GUNR has the higher dividend yield at 2.24%, compared with 1.98% for CSNR.

What is the main difference between GUNR and CSNR?

They also come from different issuers: Northern Trust and Cohen & Steers. Their fees differ too: 0.46% for GUNR and 0.50% for CSNR.

Which has better risk-adjusted returns?

CSNR currently has the higher Sharpe Ratio (2.81 vs 2.75), 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.