NANR vs. SPYG

Last updated Jun 4, 2026

NANR (SPDR S&P North American Natural Resources ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - NANR is a Commodity Producers Equities fund tracking the S&P BMI North American Natural Resources Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, NANR returned 12.52%/yr vs 18.20%/yr for SPYG. At a 0.40 correlation, their price movements are largely independent. NANR charges 0.35%/yr vs 0.04%/yr for SPYG.

Performance

NANR vs. SPYG - 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 State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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 SPYG's 13.75% return. Over the past 10 years, NANR has underperformed SPYG with an annualized return of 12.52%, while SPYG has yielded a comparatively higher 18.20% annualized 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%

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

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

NANR vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NANR SPDR S&P North American Natural Resources ETF	24.07%	35.35%	2.31%	-3.23%	26.49%	36.43%	1.03%	18.99%	-16.77%	8.03%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.75%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between NANR and SPYG is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Dec 17, 2015	0.40

The correlation between NANR and SPYG shifts across timeframes, from 0.21 (1 year) to 0.41 (10 years), reflecting how their relationship changes across market environments.

NANR vs. SPYG - Sectors Allocation Comparison

Sectors	NANR	SPYG
Basic Materials	47.1%	0.3%
Energy	41.1%	0.1%
Consumer Cyclical	5.9%	8.9%
Consumer Defensive	4.4%	1.0%
Real Estate	0.4%	0.6%
Technology	0.1%	51.9%
Industrials	0.0%	5.0%
Utilities	0.0%	1.2%
Communication Services	-	16.8%
Financial Services	-	8.5%
Healthcare	-	5.8%

Return for Risk

NANR vs. SPYG — 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

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

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. SPYG - 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 State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	2.98	2.12	+0.85
Sortino ratio: Return per unit of downside risk	3.72	2.90	+0.82
Omega ratio: Gain probability vs. loss probability	1.49	1.37	+0.13
Calmar ratio: Return relative to maximum drawdown	6.04	2.48	+3.56
Martin ratio: Return relative to average drawdown	21.31	10.25	+11.06
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. SPYG - Sharpe Ratio Comparison

The current NANR Sharpe Ratio is 2.98, which is higher than the SPYG Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of NANR and SPYG, 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	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.98	2.12	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.76	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.88	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.35	+0.28

Drawdowns

NANR vs. SPYG - Drawdown Comparison

The maximum NANR drawdown since its inception was -49.15%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for NANR and SPYG.

Drawdown Indicators

	NANR	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-49.15%	-67.63%	+18.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-13.76%	+4.83%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	-22.14%	+3.72%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-32.67%	+6.25%
Max Drawdown (10Y) Largest decline over 10 years	-49.15%	-32.67%	-16.48%
Current Drawdown Current decline from peak	-2.35%	-1.13%	-1.22%
Average Drawdown Average peak-to-trough decline	-8.40%	-24.33%	+15.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	3.32%	-0.79%

Volatility

NANR vs. SPYG - Volatility Comparison

SPDR S&P North American Natural Resources ETF (NANR) has a higher volatility of 4.92% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 4.35%. This indicates that NANR's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANR	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	4.35%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	12.46%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	16.06%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	21.17%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	20.64%	+2.90%

NANR vs. SPYG - Expense Ratio Comparison

NANR has a 0.35% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

NANR vs. SPYG - Dividend Comparison

NANR's dividend yield for the trailing twelve months is around 1.69%, more than SPYG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.47%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both NANR and SPYG in my portfolio?

NANR and SPYG have a correlation of 0.21, 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 SPYG?

NANR has higher volatility (4.92%) compared to SPYG (4.35%). In terms of maximum drawdown, NANR dropped -49.15% vs SPYG's -67.63%.

Which ETF is better, NANR or SPYG?

On 10-year performance, SPYG leads with 18.20% vs 12.52% for NANR. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANR or SPYG?

Over the 10-year period, SPYG has performed better with a 18.20% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANR or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.35% for NANR.

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

NANR has the higher dividend yield at 1.69%, compared with 0.47% for SPYG.

What is the main difference between NANR and SPYG?

NANR is categorized as Commodity Producers Equities, while SPYG is S&P 500. NANR tracks S&P BMI North American Natural Resources Index, while SPYG tracks S&P 500 Growth Index. Their fees differ too: 0.35% for NANR and 0.04% for SPYG.

Which has better risk-adjusted returns?

NANR currently has the higher Sharpe Ratio (2.98 vs 2.12), 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.