GUNR vs. ETHA
GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and ETHA (iShares Ethereum Trust ETF) are both exchange-traded funds - GUNR is a Commodity Producers Equities fund tracking the Morningstar Global Upstream Natural Resources Index, while ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, GUNR returned 32.88% vs -34.33% for ETHA. At a 0.28 correlation, their price movements are largely independent. GUNR charges 0.46%/yr vs 0.25%/yr for ETHA.
Performance
GUNR vs. ETHA - Performance Comparison
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Returns By Period
In the year-to-date period, GUNR achieves a 15.74% return, which is significantly higher than ETHA's -43.96% return.
GUNR
- 1D
- 1.19%
- 1M
- -4.60%
- YTD
- 15.74%
- 6M
- 17.02%
- 1Y
- 32.88%
- 3Y*
- 12.40%
- 5Y*
- 9.47%
- 10Y*
- 11.10%
ETHA
- 1D
- -1.02%
- 1M
- -27.59%
- YTD
- -43.96%
- 6M
- -45.98%
- 1Y
- -34.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUNR vs. ETHA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 15.74% | 30.03% | -9.15% |
ETHA iShares Ethereum Trust ETF | -43.96% | -11.31% | -4.89% |
Correlation
The correlation between GUNR and ETHA is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.28 |
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Return for Risk
GUNR vs. ETHA — Risk / Return Rank
GUNR
ETHA
GUNR vs. ETHA - 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 iShares Ethereum Trust ETF (ETHA). 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 | ETHA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.74 | ||
| Sortino ratioReturn per unit of downside risk | +3.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.94 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | -0.57 | +4.97 |
| Martin ratioReturn relative to average drawdown | 16.53 | -0.98 | +17.51 |
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Drawdowns
GUNR vs. ETHA - Drawdown Comparison
The maximum GUNR drawdown since its inception was -45.64%, smaller than the maximum ETHA drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for GUNR and ETHA.
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Drawdown Indicators
| GUNR | ETHA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.64% | -67.56% | +21.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -67.56% | +59.79% |
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 DrawdownCurrent decline from peak | -5.39% | -65.65% | +60.26% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -33.25% | +22.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 39.22% | -37.16% |
Volatility
GUNR vs. ETHA - Volatility Comparison
The current volatility for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) is 5.11%, while iShares Ethereum Trust ETF (ETHA) has a volatility of 17.30%. This indicates that GUNR experiences smaller price fluctuations and is considered to be less risky than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUNR | ETHA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 17.30% | -12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.13% | 46.58% | -33.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 69.29% | -53.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 72.65% | -53.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 72.65% | -52.21% |
GUNR vs. ETHA - Expense Ratio Comparison
GUNR has a 0.46% expense ratio, which is higher than ETHA's 0.25% expense ratio.
Dividends
GUNR vs. ETHA - Dividend Comparison
GUNR's dividend yield for the trailing twelve months is around 2.31%, while ETHA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 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 | 2.31% | 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 ETHA have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (17.30%) compared to GUNR (5.11%). In terms of maximum drawdown, GUNR dropped -45.64% vs ETHA's -67.56%.
On 1-year performance, GUNR leads with 32.88% vs -34.33% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, GUNR has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GUNR has performed better with a 32.88% return vs -34.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.46% for GUNR.
GUNR has the higher dividend yield at 2.31%, compared with 0.00% for ETHA.
GUNR is categorized as Commodity Producers Equities, while ETHA is Cryptocurrency. GUNR tracks Morningstar Global Upstream Natural Resources Index, while ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.46% for GUNR and 0.25% for ETHA.
GUNR currently has the higher Sharpe Ratio (2.18 vs -0.56), 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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