NANR vs. SETM

Last updated Jun 24, 2026

NANR (SPDR S&P North American Natural Resources ETF) and SETM (Sprott Critical Materials ETF) are both exchange-traded funds - NANR is a Natural Resources fund tracking the S&P BMI North American Natural Resources Index, while SETM is a Materials fund tracking the Nasdaq Sprott Critical Materials Index. Both are passively managed. Over the past 3 years, NANR returned 18.00%/yr vs 25.14%/yr for SETM. A 0.67 correlation means they provide meaningful diversification when combined. NANR charges 0.35%/yr vs 0.65%/yr for SETM.

Performance

NANR vs. SETM - 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 Sprott Critical Materials ETF (SETM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NANR achieves a 14.14% return, which is significantly higher than SETM's 11.16% return.

NANR

• 1D: -1.89%
• 1M: -5.93%
• YTD: 14.14%
• 6M: 12.45%
• 1Y: 36.86%
• 3Y*: 18.00%
• 5Y*: 15.44%
• 10Y*: 11.63%

SETM

• 1D: -4.08%
• 1M: -8.14%
• YTD: 11.16%
• 6M: 8.97%
• 1Y: 95.17%
• 3Y*: 25.14%
• 5Y*: —
• 10Y*: —

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

NANR vs. SETM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NANR SPDR S&P North American Natural Resources ETF	14.14%	35.35%	2.31%	-8.97%
SETM Sprott Critical Materials ETF	11.16%	95.27%	-13.24%	-13.11%

Correlation

The correlation between NANR and SETM is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.67

The correlation between NANR and SETM has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

NANR vs. SETM - Sectors Allocation Comparison

Sectors	NANR	SETM
Basic Materials	47.4%	76.0%
Energy	40.3%	22.9%
Consumer Cyclical	5.8%	-
Consumer Defensive	4.3%	0.1%
Real Estate	1.4%	-
Industrials	0.7%	1.0%
Technology	0.1%	0.1%
Utilities	0.0%	-
Communication Services	-	-
Financial Services	-	-
Healthcare	-	-

Return for Risk

NANR vs. SETM — Risk / Return Rank

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

NANR

NANR Risk / Return Rank: 64
NANR Sharpe Ratio Rank: 61
NANR Sortino Ratio Rank: 55
NANR Omega Ratio Rank: 56
NANR Calmar Ratio Rank: 75
NANR Martin Ratio Rank: 70

SETM

SETM Risk / Return Rank: 61
SETM Sharpe Ratio Rank: 66
SETM Sortino Ratio Rank: 51
SETM Omega Ratio Rank: 53
SETM Calmar Ratio Rank: 75
SETM Martin Ratio Rank: 62

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. SETM - 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 Sprott Critical Materials ETF (SETM). 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.

	NANR	SETM	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.05	-0.11
Sortino ratio: Return per unit of downside risk	2.50	2.41	+0.09
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	3.64	3.70	-0.06
Martin ratio: Return relative to average drawdown	12.39	10.56	+1.83

NANR vs. SETM - Sharpe Ratio Comparison

The current NANR Sharpe Ratio is 1.94, which is comparable to the SETM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of NANR and SETM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NANR vs. SETM - Drawdown Comparison

The maximum NANR drawdown since its inception was -49.15%, which is greater than SETM's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for NANR and SETM.

Drawdown Indicators

	NANR	SETM	Difference
Max Drawdown Largest peak-to-trough decline	-49.15%	-42.81%	-6.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-25.85%	+15.69%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	-42.81%	+24.39%
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	-10.16%	-19.00%	+8.84%
Average Drawdown Average peak-to-trough decline	-8.39%	-15.03%	+6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	9.04%	-6.05%

Volatility

NANR vs. SETM - Volatility Comparison

The current volatility for SPDR S&P North American Natural Resources ETF (NANR) is 6.86%, while Sprott Critical Materials ETF (SETM) has a volatility of 17.16%. This indicates that NANR experiences smaller price fluctuations and is considered to be less risky than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANR	SETM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	17.16%	-10.30%
Volatility (6M) Calculated over the trailing 6-month period	15.29%	37.55%	-22.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.13%	46.69%	-27.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.92%	37.23%	-14.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	37.23%	-13.64%

NANR vs. SETM - Expense Ratio Comparison

NANR has a 0.35% expense ratio, which is lower than SETM's 0.65% expense ratio.

Dividends

NANR vs. SETM - Dividend Comparison

NANR's dividend yield for the trailing twelve months is around 1.84%, more than SETM's 1.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NANR SPDR S&P North American Natural Resources ETF	1.84%	1.77%	2.20%	2.78%	2.70%	2.61%	2.73%	2.02%	1.95%	1.83%	5.01%	0.01%
SETM Sprott Critical Materials ETF	1.41%	1.56%	2.07%	2.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NANR and SETM in my portfolio?

NANR and SETM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NANR or SETM?

SETM has higher volatility (17.16%) compared to NANR (6.86%). In terms of maximum drawdown, NANR dropped -49.15% vs SETM's -42.81%.

Which ETF is better, NANR or SETM?

On 3-year performance, SETM leads with 25.14% vs 18.00% for NANR. On fees, NANR is cheaper at 0.35% per year. On volatility, NANR has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANR or SETM?

Over the 3-year period, SETM has performed better with a 25.14% return vs 18.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANR or SETM?

NANR is cheaper with a 0.35% expense ratio, compared with 0.65% for SETM.

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

NANR has the higher dividend yield at 1.84%, compared with 1.41% for SETM.

What is the main difference between NANR and SETM?

NANR is categorized as Natural Resources, while SETM is Materials. NANR tracks S&P BMI North American Natural Resources Index, while SETM tracks Nasdaq Sprott Critical Materials Index. They also come from different issuers: State Street and Sprott. Their fees differ too: 0.35% for NANR and 0.65% for SETM.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (2.05 vs 1.94), 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.