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NANR vs. HAP
Performance
Return for Risk
Dividends
Drawdowns
Volatility

NANR vs. HAP

Last updated Apr 1, 2026

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

NANR and HAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both NANR and HAP 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

NANR vs. HAP - 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 VanEck Natural Resources ETF (HAP). The values are adjusted to include any dividend payments, if applicable.

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NANR vs. HAP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NANR
SPDR S&P North American Natural Resources ETF		23.84%35.35%2.31%-3.23%26.49%36.43%1.03%18.99%-16.77%8.03%
HAP
VanEck Natural Resources ETF		20.50%34.91%-4.08%2.46%7.84%25.04%6.30%18.60%-10.68%17.12%

Returns By Period

In the year-to-date period, NANR achieves a 23.84% return, which is significantly higher than HAP's 20.50% return. Over the past 10 years, NANR has outperformed HAP with an annualized return of 14.19%, while HAP has yielded a comparatively lower 12.75% annualized return.

NANR

1D
1.45%
1M
-1.64%
YTD
23.84%
6M
31.38%
1Y
54.33%
3Y*
18.83%
5Y*
19.21%
10Y*
14.19%

HAP

1D
2.33%
1M
-2.27%
YTD
20.50%
6M
29.86%
1Y
48.82%
3Y*
16.84%
5Y*
12.99%
10Y*
12.75%
*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.

SPDR S&P North American Natural Resources ETF

VanEck Natural Resources ETF

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

NANR vs. HAP - Expense Ratio Comparison

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

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

Return for Risk

NANR vs. HAP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NANR
NANR Risk / Return Rank: 9494
Overall Rank
NANR Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
NANR Sortino Ratio Rank: 9494
Sortino Ratio Rank
NANR Omega Ratio Rank: 9494
Omega Ratio Rank
NANR Calmar Ratio Rank: 9393
Calmar Ratio Rank
NANR Martin Ratio Rank: 9696
Martin Ratio Rank
HAP
HAP Risk / Return Rank: 9696
Overall Rank
HAP Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
HAP Sortino Ratio Rank: 9696
Sortino Ratio Rank
HAP Omega Ratio Rank: 9696
Omega Ratio Rank
HAP Calmar Ratio Rank: 9494
Calmar Ratio Rank
HAP Martin Ratio Rank: 9797
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.

NANR vs. HAP - 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 VanEck Natural Resources ETF (HAP). 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.

NANRHAPDifference

Sharpe ratio

Return per unit of total volatility

2.37

2.59

-0.22

Sortino ratio

Return per unit of downside risk

2.89

3.21

-0.32

Omega ratio

Gain probability vs. loss probability

1.44

1.51

-0.07

Calmar ratio

Return relative to maximum drawdown

3.41

3.60

-0.18

Martin ratio

Return relative to average drawdown

16.05

18.89

-2.84

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. HAP - Sharpe Ratio Comparison

The current NANR Sharpe Ratio is 2.37, which is comparable to the HAP Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of NANR and HAP, 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

NANRHAPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.37

2.59

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.71

+0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.65

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.26

+0.38

Correlation

The correlation between NANR and HAP 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

NANR vs. HAP - Dividend Comparison

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

TTM20252024202320222021202020192018201720162015
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%
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%

Drawdowns

NANR vs. HAP - Drawdown Comparison

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

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Drawdown Indicators

NANRHAPDifference

Max Drawdown

Largest peak-to-trough decline

-49.15%

-50.73%

+1.58%

Max Drawdown (1Y)

Largest decline over 1 year

-16.17%

-13.64%

-2.53%

Max Drawdown (5Y)

Largest decline over 5 years

-26.42%

-25.66%

-0.76%

Max Drawdown (10Y)

Largest decline over 10 years

-49.15%

-44.07%

-5.08%

Current Drawdown

Current decline from peak

-2.53%

-2.61%

+0.08%

Average Drawdown

Average peak-to-trough decline

-8.48%

-12.13%

+3.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

2.60%

+0.84%

Volatility

NANR vs. HAP - Volatility Comparison

SPDR S&P North American Natural Resources ETF (NANR) and VanEck Natural Resources ETF (HAP) have volatilities of 6.43% and 6.40%, 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

NANRHAPDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.43%

6.40%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

15.56%

12.48%

+3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

23.03%

18.94%

+4.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.12%

18.30%

+4.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.75%

19.81%

+3.94%