TURF vs. GNR

Last updated Jun 4, 2026

TURF (T. Rowe Price Natural Resources ETF) and GNR (SPDR S&P Global Natural Resources ETF) are both Commodity Producers Equities funds. Their correlation of 0.93 suggests significant overlap in exposure. TURF charges 0.44%/yr vs 0.40%/yr for GNR.

Performance

TURF vs. GNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Natural Resources ETF (TURF) and SPDR S&P Global Natural Resources ETF (GNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TURF having a 19.55% return and GNR slightly higher at 20.27%.

TURF

• 1D: -0.82%
• 1M: 0.33%
• YTD: 19.55%
• 6M: 22.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GNR

• 1D: -0.53%
• 1M: 1.20%
• YTD: 20.27%
• 6M: 23.12%
• 1Y: 43.10%
• 3Y*: 15.55%
• 5Y*: 9.73%
• 10Y*: 10.91%

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

TURF vs. GNR - Yearly Performance Comparison

	2026 (YTD)	2025
TURF T. Rowe Price Natural Resources ETF	19.55%	17.05%
GNR SPDR S&P Global Natural Resources ETF	20.27%	15.84%

Correlation

The correlation between TURF and GNR is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.93

TURF vs. GNR - Sectors Allocation Comparison

Sectors	TURF	GNR
Basic Materials	33.9%	50.3%
Energy	29.2%	37.6%
Consumer Defensive	8.5%	4.6%
Communication Services	3.8%	-
Financial Services	2.3%	0.0%
Industrials	1.6%	0.2%
Technology	0.4%	-
Utilities	0.3%	0.0%
Consumer Cyclical	-	6.3%
Healthcare	-	0.0%
Real Estate	-	0.8%

Return for Risk

TURF vs. GNR — Risk / Return Rank

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

GNR

GNR Risk / Return Rank: 82
GNR Sharpe Ratio Rank: 80
GNR Sortino Ratio Rank: 74
GNR Omega Ratio Rank: 76
GNR Calmar Ratio Rank: 89
GNR Martin Ratio Rank: 90

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.

TURF vs. GNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Natural Resources ETF (TURF) and SPDR S&P Global Natural Resources ETF (GNR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TURF	GNR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.64	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.52	0.26	+2.26

Drawdowns

TURF vs. GNR - Drawdown Comparison

The maximum TURF drawdown since its inception was -6.84%, smaller than the maximum GNR drawdown of -51.37%. Use the drawdown chart below to compare losses from any high point for TURF and GNR.

Drawdown Indicators

	TURF	GNR	Difference
Max Drawdown Largest peak-to-trough decline	-6.84%	-51.37%	+44.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.59%	—
Current Drawdown Current decline from peak	-2.54%	-1.51%	-1.03%
Average Drawdown Average peak-to-trough decline	-1.53%	-14.95%	+13.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.03%	—

Volatility

Volatility by Period

	TURF	GNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.50%	16.39%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.50%	20.23%	-3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.50%	21.88%	-5.38%

TURF vs. GNR - Expense Ratio Comparison

TURF has a 0.44% expense ratio, which is higher than GNR's 0.40% expense ratio.

Dividends

TURF vs. GNR - Dividend Comparison

TURF's dividend yield for the trailing twelve months is around 1.25%, less than GNR's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GNR SPDR S&P Global Natural Resources ETF	2.47%	2.76%	4.73%	3.37%	4.37%	3.44%	2.78%	3.84%	3.51%	2.40%	2.06%	4.59%
TURF T. Rowe Price Natural Resources ETF	1.25%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TURF and GNR in my portfolio?

With a correlation of 0.93, TURF and GNR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TURF or GNR?

On fees, GNR is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TURF or GNR?

GNR is cheaper with a 0.40% expense ratio, compared with 0.44% for TURF.

Which ETF pays a higher dividend yield, TURF or GNR?

GNR has the higher dividend yield at 2.47%, compared with 1.25% for TURF.

What is the main difference between TURF and GNR?

They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.44% for TURF and 0.40% for GNR.