NANR vs. CSNR

Last updated Jun 4, 2026

NANR (SPDR S&P North American Natural Resources ETF) and CSNR (Cohen & Steers Natural Resources Active ETF) are both Commodity Producers Equities funds. NANR is passively managed, while CSNR is actively managed. Over the past year, NANR returned 53.70% vs 47.34% for CSNR. Their correlation of 0.93 suggests significant overlap in exposure. NANR charges 0.35%/yr vs 0.50%/yr for CSNR.

Performance

NANR vs. CSNR - Performance Comparison

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

Returns By Period

In the year-to-date period, NANR achieves a 24.07% return, which is significantly higher than CSNR's 21.88% return.

NANR

• 1D: -0.54%
• 1M: 2.37%
• YTD: 24.07%
• 6M: 26.38%
• 1Y: 53.70%
• 3Y*: 20.80%
• 5Y*: 16.21%
• 10Y*: 12.52%

CSNR

• 1D: -0.56%
• 1M: 1.40%
• YTD: 21.88%
• 6M: 24.62%
• 1Y: 47.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NANR vs. CSNR - Yearly Performance Comparison

	2026 (YTD)	2025
NANR SPDR S&P North American Natural Resources ETF	24.07%	26.81%
CSNR Cohen & Steers Natural Resources Active ETF	21.88%	26.55%

Correlation

The correlation between NANR and CSNR is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.93

The correlation between NANR and CSNR has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

NANR vs. CSNR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NANR

NANR Risk / Return Rank: 86
NANR Sharpe Ratio Rank: 88
NANR Sortino Ratio Rank: 81
NANR Omega Ratio Rank: 81
NANR Calmar Ratio Rank: 91
NANR Martin Ratio Rank: 90

CSNR

CSNR Risk / Return Rank: 86
CSNR Sharpe Ratio Rank: 86
CSNR Sortino Ratio Rank: 81
CSNR Omega Ratio Rank: 81
CSNR Calmar Ratio Rank: 90
CSNR Martin Ratio Rank: 92

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.

NANR vs. CSNR - Risk-Adjusted Trends Comparison

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

	NANR	CSNR	Difference
Sharpe ratio: Return per unit of total volatility	2.98	2.81	+0.17
Sortino ratio: Return per unit of downside risk	3.72	3.59	+0.12
Omega ratio: Gain probability vs. loss probability	1.49	1.48	+0.01
Calmar ratio: Return relative to maximum drawdown	6.04	5.67	+0.37
Martin ratio: Return relative to average drawdown	21.31	22.27	-0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NANR vs. CSNR - Sharpe Ratio Comparison

The current NANR Sharpe Ratio is 2.98, which is comparable to the CSNR Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of NANR and CSNR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NANR	CSNR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.98	2.81	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.97	-1.34

Drawdowns

NANR vs. CSNR - Drawdown Comparison

The maximum NANR drawdown since its inception was -49.15%, which is greater than CSNR's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for NANR and CSNR.

Drawdown Indicators

	NANR	CSNR	Difference
Max Drawdown Largest peak-to-trough decline	-49.15%	-15.33%	-33.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-8.39%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.15%	—	—
Current Drawdown Current decline from peak	-2.35%	-1.42%	-0.93%
Average Drawdown Average peak-to-trough decline	-8.40%	-1.82%	-6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.13%	+0.40%

Volatility

NANR vs. CSNR - Volatility Comparison

SPDR S&P North American Natural Resources ETF (NANR) has a higher volatility of 4.92% compared to Cohen & Steers Natural Resources Active ETF (CSNR) at 4.24%. This indicates that NANR's price experiences larger fluctuations and is considered to be riskier than CSNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANR	CSNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	4.24%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	13.65%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	16.94%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	19.77%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	19.77%	+3.77%

NANR vs. CSNR - Expense Ratio Comparison

NANR has a 0.35% expense ratio, which is lower than CSNR's 0.50% expense ratio.

Dividends

NANR vs. CSNR - Dividend Comparison

NANR's dividend yield for the trailing twelve months is around 1.69%, less than CSNR's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSNR Cohen & Steers Natural Resources Active ETF	1.98%	2.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NANR SPDR S&P North American Natural Resources ETF	1.69%	1.77%	2.20%	2.78%	2.70%	2.61%	2.73%	2.02%	1.95%	1.83%	5.01%	0.01%

Frequently Asked Questions

Can I hold both NANR and CSNR in my portfolio?

With a correlation of 0.92, NANR and CSNR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NANR or CSNR?

NANR has higher volatility (4.92%) compared to CSNR (4.24%). In terms of maximum drawdown, NANR dropped -49.15% vs CSNR's -15.33%.

Which ETF is better, NANR or CSNR?

On 1-year performance, NANR leads with 53.70% vs 47.34% for CSNR. On fees, NANR is cheaper at 0.35% per year. On volatility, CSNR has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANR or CSNR?

Over the 1-year period, NANR has performed better with a 53.70% return vs 47.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANR or CSNR?

NANR is cheaper with a 0.35% expense ratio, compared with 0.50% for CSNR.

Which ETF pays a higher dividend yield, NANR or CSNR?

CSNR has the higher dividend yield at 1.98%, compared with 1.69% for NANR.

What is the main difference between NANR and CSNR?

They also come from different issuers: State Street and Cohen & Steers. Their fees differ too: 0.35% for NANR and 0.50% for CSNR.

Which has better risk-adjusted returns?

NANR currently has the higher Sharpe Ratio (2.98 vs 2.81), 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.