GUNR vs. IBIT
GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GUNR is a Commodity Producers Equities fund tracking the Morningstar Global Upstream Natural Resources Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, GUNR returned 32.88% vs -39.67% for IBIT. At a 0.25 correlation, their price movements are largely independent. GUNR charges 0.46%/yr vs 0.25%/yr for IBIT.
Performance
GUNR vs. IBIT - 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 IBIT's -27.41% 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%
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUNR vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 15.74% | 30.03% | -5.03% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between GUNR and IBIT 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 Jan 11, 2024 | 0.25 |
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Return for Risk
GUNR vs. IBIT — Risk / Return Rank
GUNR
IBIT
GUNR vs. IBIT - 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 Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.10 | ||
| Sortino ratioReturn per unit of downside risk | +4.09 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.85 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | -0.78 | +5.18 |
| Martin ratioReturn relative to average drawdown | 16.53 | -1.37 | +17.90 |
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Drawdowns
GUNR vs. IBIT - Drawdown Comparison
The maximum GUNR drawdown since its inception was -45.64%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for GUNR and IBIT.
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Drawdown Indicators
| GUNR | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.64% | -52.11% | +6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -52.11% | +44.34% |
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% | -49.45% | +44.06% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -16.53% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 29.64% | -27.58% |
Volatility
GUNR vs. IBIT - Volatility Comparison
The current volatility for FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) is 5.11%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that GUNR experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUNR | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 12.07% | -6.96% |
Volatility (6M)Calculated over the trailing 6-month period | 13.13% | 34.45% | -21.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 44.10% | -28.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 50.26% | -31.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 50.26% | -29.82% |
GUNR vs. IBIT - Expense Ratio Comparison
GUNR has a 0.46% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
GUNR vs. IBIT - Dividend Comparison
GUNR's dividend yield for the trailing twelve months is around 2.31%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IBIT iShares Bitcoin 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% |
Frequently Asked Questions
GUNR and IBIT 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.
IBIT has higher volatility (12.07%) compared to GUNR (5.11%). In terms of maximum drawdown, GUNR dropped -45.64% vs IBIT's -52.11%.
On 1-year performance, GUNR leads with 32.88% vs -39.67% for IBIT. On fees, IBIT 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 -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT 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 IBIT.
GUNR is categorized as Commodity Producers Equities, while IBIT is Cryptocurrency. GUNR tracks Morningstar Global Upstream Natural Resources Index, while IBIT tracks CME CF Bitcoin 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 IBIT.
GUNR currently has the higher Sharpe Ratio (2.18 vs -0.92), 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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