TURF vs. NANR

Last updated Aug 4, 2026

TURF (T. Rowe Price Natural Resources ETF) and NANR (SPDR S&P North American Natural Resources ETF) are both Natural Resources funds. TURF is actively managed, while NANR is passively managed. Over the past year, TURF returned 32.09% vs 43.82% for NANR. Their correlation of 0.93 means they have usually moved in the same direction. TURF charges 0.44%/yr vs 0.35%/yr for NANR.

Performance

TURF vs. NANR - 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 North American Natural Resources ETF (NANR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TURF achieves a 11.92% return, which is significantly lower than NANR's 18.96% return.

TURF

• 1D: -0.34%
• 1M: 3.72%
• 6M: 0.81%
• YTD: 11.92%
• 1Y: 32.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.42%

NANR

• 1D: -0.16%
• 1M: 5.17%
• 6M: 6.34%
• YTD: 18.96%
• 1Y: 43.82%
• 3Y*: 16.43%
• 5Y*: 17.93%
• 10Y*: 11.55%
• ALL TIME*: 14.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NANR SPDR S&P North American Natural Resources ETF	$3.01M	$2.18M	$2.39M
TURF T. Rowe Price Natural Resources ETF	$1.07M	$3.82M	$3.10M

TURF vs. NANR - Yearly Performance Comparison

	2026 (YTD)	2025
TURF T. Rowe Price Natural Resources ETF	11.92%	17.82%
NANR SPDR S&P North American Natural Resources ETF	18.96%	21.89%

Correlation

The correlation between TURF and NANR is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.93

The correlation between TURF and NANR has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

TURF vs. NANR - Sectors Allocation Comparison

Sectors	TURF	NANR
Basic Materials	50.8%	45.6%
Energy	32.6%	40.8%
Consumer Defensive	15.2%	4.4%
Communication Services	3.8%	-
Financial Services	2.4%	0.0%
Consumer Cyclical	1.1%	7.0%
Technology	0.4%	0.1%
Utilities	0.3%	0.0%
Industrials	0.1%	0.7%
Healthcare	-	-
Real Estate	-	1.5%

Return for Risk

TURF vs. NANR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TURF

TURF Risk / Return Rank: 67
TURF Sharpe Ratio Rank: 75
TURF Sortino Ratio Rank: 68
TURF Omega Ratio Rank: 72
TURF Calmar Ratio Rank: 64
TURF Martin Ratio Rank: 57

NANR

NANR Risk / Return Rank: 85
NANR Sharpe Ratio Rank: 90
NANR Sortino Ratio Rank: 85
NANR Omega Ratio Rank: 86
NANR Calmar Ratio Rank: 87
NANR Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TURF vs. NANR - 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 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.

	TURF	NANR	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.30	-0.42
Sortino ratio: Return per unit of downside risk	2.46	2.89	-0.43
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	2.44	3.58	-1.14
Martin ratio: Return relative to average drawdown	7.29	10.33	-3.04

TURF vs. NANR - Sharpe Ratio Comparison

The current TURF Sharpe Ratio is 1.88, which is comparable to the NANR Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of TURF and NANR, 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

TURF vs. NANR - Drawdown Comparison

The maximum TURF drawdown since its inception was -13.24%, smaller than the maximum NANR drawdown of -49.15%. Use the drawdown chart below to compare losses from any high point for TURF and NANR.

Drawdown Indicators

	TURF	NANR	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-49.15%	+35.91%
Max Drawdown (1Y) Largest decline over 1 year	-13.24%	-12.31%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.42%	—
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	-8.76%	-6.37%	-2.39%
Average Drawdown Average peak-to-trough decline	-2.68%	-8.39%	+5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	4.25%	+0.16%

Volatility

TURF vs. NANR - Volatility Comparison

T. Rowe Price Natural Resources ETF (TURF) and SPDR S&P North American Natural Resources ETF (NANR) have volatilities of 4.31% and 4.11%, 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.

Volatility by Period

	TURF	NANR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.11%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	14.51%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.17%	19.19%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	22.80%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	23.56%	-6.65%

TURF vs. NANR - Expense Ratio Comparison

TURF has a 0.44% expense ratio, which is higher than NANR's 0.35% expense ratio.

Dividends

TURF vs. NANR - Dividend Comparison

TURF's dividend yield for the trailing twelve months is around 1.33%, less than NANR's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NANR SPDR S&P North American Natural Resources ETF	1.77%	1.77%	2.20%	2.78%	2.70%	2.61%	2.73%	2.02%	1.95%	1.83%	5.01%	0.01%
TURF T. Rowe Price Natural Resources ETF	1.33%	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 NANR in my portfolio?

With a correlation of 0.93, TURF and NANR 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 is riskier, TURF or NANR?

TURF has higher volatility (4.31%) compared to NANR (4.11%). In terms of maximum drawdown, TURF dropped -13.24% vs NANR's -49.15%.

Which ETF is better, TURF or NANR?

On 1-year performance, NANR leads with 43.82% vs 32.09% for TURF. On fees, NANR is cheaper at 0.35% per year. On volatility, NANR has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TURF or NANR?

Over the 1-year period, NANR has performed better with a 43.82% return vs 32.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TURF or NANR?

NANR is cheaper with a 0.35% expense ratio, compared with 0.44% for TURF.

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

NANR has the higher dividend yield at 1.77%, compared with 1.33% for TURF.

What is the main difference between TURF and NANR?

They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.44% for TURF and 0.35% for NANR.

Which has better risk-adjusted returns?

NANR currently has the higher Sharpe Ratio (2.30 vs 1.88), 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.