GUNR vs. EMET
GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and EMET (VanEck Copper and Green Metals ETF) are both exchange-traded funds - GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index, while EMET is a Copper fund tracking the MVIS Global Clean-Tech Metals Index. Both are passively managed. Over the past 3 years, GUNR returned 11.02%/yr vs 14.54%/yr for EMET. Their 0.76 correlation means they have sometimes moved together and sometimes differently. GUNR charges 0.46%/yr vs 0.61%/yr for EMET.
Performance
GUNR vs. EMET - Performance Comparison
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Returns By Period
In the year-to-date period, GUNR achieves a 14.39% return, which is significantly higher than EMET's 5.67% return.
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%
EMET
- 1D
- 0.72%
- 1M
- -1.39%
- 6M
- -9.12%
- YTD
- 5.67%
- 1Y
- 65.30%
- 3Y*
- 14.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $220.53K | $210.80K | $452.29K | |
| $77.78M | $41.91M | $28.99M |
GUNR vs. EMET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 14.39% | 30.03% | -8.37% | -2.40% | 14.83% | 3.17% |
EMET VanEck Copper and Green Metals ETF | 5.67% | 81.22% | -12.81% | -12.28% | -17.15% | 0.11% |
Correlation
The correlation between GUNR and EMET is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021 | 0.76 |
The correlation between GUNR and EMET has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
GUNR vs. EMET — Risk / Return Rank
GUNR
EMET
GUNR vs. EMET - 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 VanEck Copper and Green Metals ETF (EMET). 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.
| GUNR | EMET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.28 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.57 | +0.24 |
| Martin ratioReturn relative to average drawdown | 8.76 | 6.26 | +2.50 |
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Drawdowns
GUNR vs. EMET - Drawdown Comparison
The maximum GUNR drawdown since its inception was -45.64%, smaller than the maximum EMET drawdown of -53.05%. Use the drawdown chart below to compare losses from any high point for GUNR and EMET.
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Drawdown Indicators
| GUNR | EMET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.64% | -53.05% | +7.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.70% | -25.58% | +13.88% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -40.50% | +20.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.04% | — | — |
Current DrawdownCurrent decline from peak | -6.49% | -19.91% | +13.42% |
Average DrawdownAverage peak-to-trough decline | -10.37% | -24.56% | +14.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 10.46% | -6.72% |
Volatility
GUNR vs. EMET - Volatility Comparison
The current volatility for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) is 4.06%, while VanEck Copper and Green Metals ETF (EMET) has a volatility of 11.77%. This indicates that GUNR experiences smaller price fluctuations and is considered to be less risky than EMET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUNR | EMET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 11.77% | -7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.60% | 32.29% | -19.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.98% | 39.23% | -23.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 33.47% | -14.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 33.47% | -13.14% |
GUNR vs. EMET - Expense Ratio Comparison
GUNR has a 0.46% expense ratio, which is lower than EMET's 0.61% expense ratio.
Dividends
GUNR vs. EMET - Dividend Comparison
GUNR's dividend yield for the trailing twelve months is around 2.34%, more than EMET's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMET VanEck Copper and Green Metals ETF | 1.74% | 1.84% | 1.89% | 2.02% | 2.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
GUNR and EMET have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMET has higher volatility (11.77%) compared to GUNR (4.06%). In terms of maximum drawdown, GUNR dropped -45.64% vs EMET's -53.05%.
On 3-year performance, EMET leads with 14.54% vs 11.02% for GUNR. On fees, GUNR is cheaper at 0.46% 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.
Over the 3-year period, EMET has performed better with a 14.54% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GUNR is cheaper with a 0.46% expense ratio, compared with 0.61% for EMET.
GUNR has the higher dividend yield at 2.34%, compared with 1.74% for EMET.
GUNR is categorized as Natural Resources, while EMET is Copper. GUNR tracks Morningstar Global Upstream Natural Resources Index, while EMET tracks MVIS Global Clean-Tech Metals Index. They also come from different issuers: Northern Trust and VanEck. Their fees differ too: 0.46% for GUNR and 0.61% for EMET.
GUNR currently has the higher Sharpe Ratio (2.06 vs 1.68), 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.
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