PPI vs. NANR
PPI (Astoria Real Assets ETF) and NANR (SPDR S&P North American Natural Resources ETF) are both exchange-traded funds - PPI is a Global Allocation fund actively managed by AXS, while NANR is a Natural Resources fund tracking the S&P BMI North American Natural Resources Index. PPI is actively managed, while NANR is passively managed. Over the past 3 years, PPI returned 18.14%/yr vs 16.01%/yr for NANR. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PPI charges 0.58%/yr vs 0.35%/yr for NANR.
Performance
PPI vs. NANR - Performance Comparison
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Returns By Period
In the year-to-date period, PPI achieves a 14.54% return, which is significantly lower than NANR's 19.14% return.
PPI
- 1D
- 0.54%
- 1M
- 0.41%
- 6M
- 7.48%
- YTD
- 14.54%
- 1Y
- 27.13%
- 3Y*
- 18.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.19%
NANR
- 1D
- -1.24%
- 1M
- 5.34%
- 6M
- 5.80%
- YTD
- 19.14%
- 1Y
- 44.05%
- 3Y*
- 16.01%
- 5Y*
- 17.48%
- 10Y*
- 11.61%
- ALL TIME*
- 14.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.74M | $2.29M | $2.38M | |
| $700.24K | $640.79K | $650.34K |
PPI vs. NANR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPI Astoria Real Assets ETF | 14.54% | 30.05% | 6.43% | 11.33% | 4.04% | 0.03% |
NANR SPDR S&P North American Natural Resources ETF | 19.14% | 35.35% | 2.31% | -3.23% | 26.49% | 0.49% |
Correlation
The correlation between PPI and NANR is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2021 | 0.79 |
The correlation between PPI and NANR has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.
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Return for Risk
PPI vs. NANR — Risk / Return Rank
PPI
NANR
PPI vs. NANR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Astoria Real Assets ETF (PPI) 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.
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.
| PPI | NANR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 3.46 | -0.14 |
| Martin ratioReturn relative to average drawdown | 8.34 | 10.03 | -1.69 |
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Drawdowns
PPI vs. NANR - Drawdown Comparison
The maximum PPI drawdown since its inception was -24.54%, smaller than the maximum NANR drawdown of -49.15%. Use the drawdown chart below to compare losses from any high point for PPI and NANR.
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Drawdown Indicators
| PPI | NANR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.54% | -49.15% | +24.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.98% | -12.31% | +4.33% |
Max Drawdown (3Y)Largest decline over 3 years | -20.70% | -18.42% | -2.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.15% | — |
Current DrawdownCurrent decline from peak | -4.91% | -6.22% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -6.44% | -8.39% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 4.23% | -1.07% |
Volatility
PPI vs. NANR - Volatility Comparison
Astoria Real Assets ETF (PPI) and SPDR S&P North American Natural Resources ETF (NANR) have volatilities of 4.28% and 4.27%, 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
| PPI | NANR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 4.27% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.04% | 15.05% | -2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.72% | 19.23% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 22.80% | -3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 23.56% | -4.61% |
PPI vs. NANR - Expense Ratio Comparison
PPI has a 0.58% expense ratio, which is higher than NANR's 0.35% expense ratio.
Dividends
PPI vs. NANR - Dividend Comparison
PPI's dividend yield for the trailing twelve months is around 1.31%, less than NANR's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NANR SPDR S&P North American Natural Resources ETF | 1.76% | 1.77% | 2.20% | 2.78% | 2.70% | 2.61% | 2.73% | 2.02% | 1.95% | 1.83% | 5.01% | 0.01% |
PPI Astoria Real Assets ETF | 1.31% | 1.06% | 0.60% | 2.87% | 2.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPI and NANR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPI has higher volatility (4.28%) compared to NANR (4.27%). In terms of maximum drawdown, PPI dropped -24.54% vs NANR's -49.15%.
On 3-year performance, PPI leads with 18.14% vs 16.01% for NANR. On fees, NANR is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PPI has performed better with a 18.14% return vs 16.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NANR is cheaper with a 0.35% expense ratio, compared with 0.58% for PPI.
NANR has the higher dividend yield at 1.76%, compared with 1.31% for PPI.
PPI is categorized as Global Allocation, while NANR is Natural Resources. They also come from different issuers: AXS and State Street. Their fees differ too: 0.58% for PPI and 0.35% for NANR.
NANR currently has the higher Sharpe Ratio (2.22 vs 1.58), 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.
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