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HAP vs. NANR
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HAP vs. NANR

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Natural Resources ETF (HAP) and SPDR S&P North American Natural Resources ETF (NANR).

HAP and NANR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HAP is a passively managed fund by VanEck that tracks the performance of the MarketVector Global Natural Resources Index. It was launched on Aug 29, 2008. NANR is a passively managed fund by State Street that tracks the performance of the S&P BMI North American Natural Resources Index. It was launched on Dec 15, 2015. Both HAP and NANR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HAP vs. NANR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Natural Resources ETF (HAP) and SPDR S&P North American Natural Resources ETF (NANR). The values are adjusted to include any dividend payments, if applicable.

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HAP vs. NANR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HAP
VanEck Natural Resources ETF		20.42%34.91%-4.08%2.46%7.84%25.04%6.30%18.60%-10.68%17.12%
NANR
SPDR S&P North American Natural Resources ETF		23.68%35.35%2.31%-3.23%26.49%36.43%1.03%18.99%-16.77%8.03%

Returns By Period

In the year-to-date period, HAP achieves a 20.42% return, which is significantly lower than NANR's 23.68% return. Over the past 10 years, HAP has underperformed NANR with an annualized return of 12.74%, while NANR has yielded a comparatively higher 14.17% annualized return.

HAP

1D
-0.07%
1M
-2.67%
YTD
20.42%
6M
29.48%
1Y
48.22%
3Y*
16.81%
5Y*
12.98%
10Y*
12.74%

NANR

1D
-0.13%
1M
-2.66%
YTD
23.68%
6M
30.97%
1Y
53.36%
3Y*
18.77%
5Y*
19.18%
10Y*
14.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Natural Resources ETF

SPDR S&P North American Natural Resources ETF

Often compared with HAP:
HAP vs. GUNRHAP vs. URAHAP vs. SPYHAP vs. DGROHAP vs. QQQHAP vs. MOATHAP vs. XLKQ.L
Often compared with NANR:
NANR vs. IGENANR vs. FXZNANR vs. XLENANR vs. FTRINANR vs. VOONANR vs. FXAIXNANR vs. SPY

HAP vs. NANR - Expense Ratio Comparison

HAP has a 0.42% expense ratio, which is higher than NANR's 0.35% expense ratio.

HAP
VanEck Natural Resources ETF
NANR
SPDR S&P North American Natural Resources ETF

Return for Risk

HAP vs. NANR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAP
HAP Risk / Return Rank: 9595
Overall Rank
HAP Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
HAP Sortino Ratio Rank: 9595
Sortino Ratio Rank
HAP Omega Ratio Rank: 9696
Omega Ratio Rank
HAP Calmar Ratio Rank: 9393
Calmar Ratio Rank
HAP Martin Ratio Rank: 9696
Martin Ratio Rank
NANR
NANR Risk / Return Rank: 9393
Overall Rank
NANR Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
NANR Sortino Ratio Rank: 9393
Sortino Ratio Rank
NANR Omega Ratio Rank: 9393
Omega Ratio Rank
NANR Calmar Ratio Rank: 9191
Calmar Ratio Rank
NANR Martin Ratio Rank: 9595
Martin Ratio Rank
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.

HAP vs. NANR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Natural Resources ETF (HAP) and SPDR S&P North American Natural Resources ETF (NANR). 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.

HAPNANRDifference

Sharpe ratio

Return per unit of total volatility

2.56

2.33

+0.23

Sortino ratio

Return per unit of downside risk

3.18

2.85

+0.33

Omega ratio

Gain probability vs. loss probability

1.51

1.43

+0.08

Calmar ratio

Return relative to maximum drawdown

3.57

3.35

+0.22

Martin ratio

Return relative to average drawdown

18.71

15.72

+3.00

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAP vs. NANR - Sharpe Ratio Comparison

The current HAP Sharpe Ratio is 2.56, which is comparable to the NANR Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of HAP and NANR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HAPNANRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.56

2.33

+0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.83

-0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.60

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.64

-0.38

Correlation

The correlation between HAP and NANR is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HAP vs. NANR - Dividend Comparison

HAP's dividend yield for the trailing twelve months is around 1.88%, more than NANR's 1.43% yield.

TTM20252024202320222021202020192018201720162015
HAP
VanEck Natural Resources ETF		1.88%2.27%2.65%3.27%3.28%2.16%2.45%2.80%2.85%2.02%1.99%3.00%
NANR
SPDR S&P North American Natural Resources ETF		1.43%1.77%2.20%2.78%2.70%2.61%2.73%2.02%1.95%1.83%5.01%0.01%

Drawdowns

HAP vs. NANR - Drawdown Comparison

The maximum HAP drawdown since its inception was -50.73%, roughly equal to the maximum NANR drawdown of -49.15%. Use the drawdown chart below to compare losses from any high point for HAP and NANR.

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Drawdown Indicators

HAPNANRDifference

Max Drawdown

Largest peak-to-trough decline

-50.73%

-49.15%

-1.58%

Max Drawdown (1Y)

Largest decline over 1 year

-13.50%

-16.17%

+2.67%

Max Drawdown (5Y)

Largest decline over 5 years

-25.66%

-26.42%

+0.76%

Max Drawdown (10Y)

Largest decline over 10 years

-44.07%

-49.15%

+5.08%

Current Drawdown

Current decline from peak

-2.67%

-2.66%

-0.01%

Average Drawdown

Average peak-to-trough decline

-12.12%

-8.48%

-3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

3.44%

-0.84%

Volatility

HAP vs. NANR - Volatility Comparison

VanEck Natural Resources ETF (HAP) and SPDR S&P North American Natural Resources ETF (NANR) have volatilities of 5.40% and 5.37%, 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.

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Volatility by Period

HAPNANRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.40%

5.37%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

15.56%

-3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

18.95%

23.03%

-4.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.30%

23.10%

-4.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.81%

23.74%

-3.93%