GUNR vs. VTIP
GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 10 years, GUNR returned 11.10%/yr vs 3.09%/yr for VTIP. At a 0.19 correlation, their price movements are largely independent. GUNR charges 0.46%/yr vs 0.03%/yr for VTIP.
Performance
GUNR vs. VTIP - 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 VTIP's 1.85% return. Over the past 10 years, GUNR has outperformed VTIP with an annualized return of 11.10%, while VTIP has yielded a comparatively lower 3.09% annualized 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%
VTIP
- 1D
- -0.04%
- 1M
- -0.06%
- YTD
- 1.85%
- 6M
- 1.95%
- 1Y
- 4.51%
- 3Y*
- 5.25%
- 5Y*
- 3.37%
- 10Y*
- 3.09%
GUNR vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 15.74% | 30.03% | -8.37% | -2.40% | 14.83% | 26.06% | 0.46% | 18.41% | -9.42% | 18.74% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.85% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.82% |
Correlation
The correlation between GUNR and VTIP is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2012 | 0.19 |
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Return for Risk
GUNR vs. VTIP — Risk / Return Rank
GUNR
VTIP
GUNR vs. VTIP - 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 Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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 | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.65 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 6.57 | -2.17 |
| Martin ratioReturn relative to average drawdown | 16.53 | 25.36 | -8.84 |
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Drawdowns
GUNR vs. VTIP - Drawdown Comparison
The maximum GUNR drawdown since its inception was -45.64%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for GUNR and VTIP.
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Drawdown Indicators
| GUNR | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.64% | -6.27% | -39.37% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -0.70% | -7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -19.59% | -0.98% | -18.61% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -5.50% | -18.56% |
Max Drawdown (10Y)Largest decline over 10 years | -43.04% | -6.27% | -36.77% |
Current DrawdownCurrent decline from peak | -5.39% | -0.22% | -5.17% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -1.04% | -9.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.18% | +1.88% |
Volatility
GUNR vs. VTIP - Volatility Comparison
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) has a higher volatility of 5.11% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.40%. This indicates that GUNR's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUNR | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 0.40% | +4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.13% | 1.04% | +12.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 1.50% | +14.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 2.77% | +16.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 2.74% | +17.70% |
GUNR vs. VTIP - Expense Ratio Comparison
GUNR has a 0.46% expense ratio, which is higher than VTIP's 0.03% expense ratio.
Dividends
GUNR vs. VTIP - Dividend Comparison
GUNR's dividend yield for the trailing twelve months is around 2.31%, less than VTIP's 3.59% yield.
| 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% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
GUNR and VTIP have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUNR has higher volatility (5.11%) compared to VTIP (0.40%). In terms of maximum drawdown, GUNR dropped -45.64% vs VTIP's -6.27%.
On 10-year performance, GUNR leads with 11.10% vs 3.09% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GUNR has performed better with a 11.10% return vs 3.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.46% for GUNR.
VTIP has the higher dividend yield at 3.59%, compared with 2.31% for GUNR.
GUNR is categorized as Natural Resources, while VTIP is Inflation-Protected Bonds. GUNR tracks Morningstar Global Upstream Natural Resources Index, while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.46% for GUNR and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (3.07 vs 2.18), 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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