RSBT vs. GUNR

Last updated Jun 13, 2026

RSBT (Return Stacked Bonds & Managed Futures ETF) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - RSBT is a Nontraditional Bonds fund actively managed by Return Stacked, while GUNR is a Commodity Producers Equities fund tracking the Morningstar Global Upstream Natural Resources Index. RSBT is actively managed, while GUNR is passively managed. Over the past 3 years, RSBT returned 3.21%/yr vs 12.40%/yr for GUNR. At a 0.40 correlation, their price movements are largely independent. RSBT charges 0.97%/yr vs 0.46%/yr for GUNR.

Performance

RSBT vs. GUNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Managed Futures ETF (RSBT) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSBT achieves a 6.42% return, which is significantly lower than GUNR's 15.74% return.

RSBT

• 1D: 0.37%
• 1M: -3.00%
• YTD: 6.42%
• 6M: 8.27%
• 1Y: 23.51%
• 3Y*: 3.21%
• 5Y*: —
• 10Y*: —

GUNR

• 1D: 1.19%
• 1M: -4.60%
• YTD: 15.74%
• 6M: 17.02%
• 1Y: 32.88%
• 3Y*: 12.40%
• 5Y*: 9.47%
• 10Y*: 11.10%

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

RSBT vs. GUNR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RSBT Return Stacked Bonds & Managed Futures ETF	6.42%	10.31%	-2.90%	-11.85%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	15.74%	30.03%	-8.37%	-5.32%

Correlation

The correlation between RSBT and GUNR is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023	0.40

Over the past year, RSBT and GUNR have become more correlated (0.61) than their long-term average of 0.40, meaning their price movements have been converging.

RSBT vs. GUNR - Sectors Allocation Comparison

Sectors	RSBT	GUNR
Financial Services	136.6%	2.7%
Basic Materials	-	45.1%
Communication Services	-	1.7%
Consumer Cyclical	-	0.2%
Consumer Defensive	-	11.5%
Energy	-	29.3%
Healthcare	-	-
Industrials	-	2.3%
Real Estate	-	0.2%
Technology	-	0.5%
Utilities	-	4.0%

Return for Risk

RSBT vs. GUNR — Risk / Return Rank

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

RSBT

RSBT Risk / Return Rank: 56
RSBT Sharpe Ratio Rank: 50
RSBT Sortino Ratio Rank: 44
RSBT Omega Ratio Rank: 52
RSBT Calmar Ratio Rank: 78
RSBT Martin Ratio Rank: 59

GUNR

GUNR Risk / Return Rank: 80
GUNR Sharpe Ratio Rank: 79
GUNR Sortino Ratio Rank: 72
GUNR Omega Ratio Rank: 75
GUNR Calmar Ratio Rank: 87
GUNR Martin Ratio Rank: 88

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.

RSBT vs. GUNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Managed Futures ETF (RSBT) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). 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.

	RSBT	GUNR	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.18	-0.66
Sortino ratio: Return per unit of downside risk	1.97	2.79	-0.82
Omega ratio: Gain probability vs. loss probability	1.28	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	3.53	4.40	-0.88
Martin ratio: Return relative to average drawdown	9.11	16.53	-7.41

RSBT vs. GUNR - Sharpe Ratio Comparison

The current RSBT Sharpe Ratio is 1.52, which is lower than the GUNR Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of RSBT and GUNR, 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

RSBT vs. GUNR - Drawdown Comparison

The maximum RSBT drawdown since its inception was -23.60%, smaller than the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for RSBT and GUNR.

Drawdown Indicators

	RSBT	GUNR	Difference
Max Drawdown Largest peak-to-trough decline	-23.60%	-45.64%	+22.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-7.77%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.98%	-19.59%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.04%	—
Current Drawdown Current decline from peak	-3.83%	-5.39%	+1.56%
Average Drawdown Average peak-to-trough decline	-12.55%	-10.39%	-2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	2.06%	+0.39%

Volatility

RSBT vs. GUNR - Volatility Comparison

Return Stacked Bonds & Managed Futures ETF (RSBT) has a higher volatility of 5.71% compared to FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) at 5.11%. This indicates that RSBT's price experiences larger fluctuations and is considered to be riskier than GUNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSBT	GUNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	5.11%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	13.13%	-2.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	15.69%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	19.06%	-5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	20.44%	-6.56%

RSBT vs. GUNR - Expense Ratio Comparison

RSBT has a 0.97% expense ratio, which is higher than GUNR's 0.46% expense ratio.

Dividends

RSBT vs. GUNR - Dividend Comparison

RSBT's dividend yield for the trailing twelve months is around 3.01%, more than GUNR's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.31%	2.81%	3.39%	3.55%	4.12%	3.61%	2.79%	3.25%	3.27%	2.00%	1.73%	4.50%
RSBT Return Stacked Bonds & Managed Futures ETF	3.01%	3.20%	0.00%	2.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RSBT and GUNR in my portfolio?

RSBT and GUNR have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBT or GUNR?

RSBT has higher volatility (5.71%) compared to GUNR (5.11%). In terms of maximum drawdown, RSBT dropped -23.60% vs GUNR's -45.64%.

Which ETF is better, RSBT or GUNR?

On 3-year performance, GUNR leads with 12.40% vs 3.21% for RSBT. On fees, GUNR is cheaper at 0.46% per year. On volatility, GUNR has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSBT or GUNR?

Over the 3-year period, GUNR has performed better with a 12.40% return vs 3.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSBT or GUNR?

GUNR is cheaper with a 0.46% expense ratio, compared with 0.97% for RSBT.

Which ETF pays a higher dividend yield, RSBT or GUNR?

RSBT has the higher dividend yield at 3.01%, compared with 2.31% for GUNR.

What is the main difference between RSBT and GUNR?

RSBT is categorized as Nontraditional Bonds, while GUNR is Commodity Producers Equities. They also come from different issuers: Return Stacked and Northern Trust. Their fees differ too: 0.97% for RSBT and 0.46% for GUNR.

Which has better risk-adjusted returns?

GUNR currently has the higher Sharpe Ratio (2.18 vs 1.52), 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.