VXUS vs. GUNR

Last updated Jul 26, 2026

VXUS (Vanguard Total International Stock ETF) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index, while GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index. Both are passively managed. Over the past 10 years, VXUS returned 9.35%/yr vs 10.26%/yr for GUNR. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VXUS charges 0.05%/yr vs 0.46%/yr for GUNR.

Performance

VXUS vs. GUNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Stock ETF (VXUS) 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, VXUS achieves a 11.16% return, which is significantly lower than GUNR's 15.47% return. Over the past 10 years, VXUS has underperformed GUNR with an annualized return of 9.35%, while GUNR has yielded a comparatively higher 10.26% annualized return.

VXUS

• 1D: -0.26%
• 1M: -1.97%
• 6M: 5.45%
• YTD: 11.16%
• 1Y: 21.77%
• 3Y*: 16.57%
• 5Y*: 8.43%
• 10Y*: 9.35%
• ALL TIME*: 6.46%

GUNR

• 1D: -0.13%
• 1M: 6.07%
• 6M: 3.93%
• YTD: 15.47%
• 1Y: 29.81%
• 3Y*: 10.45%
• 5Y*: 11.05%
• 10Y*: 10.26%
• ALL TIME*: 6.58%

*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)
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	$10.72M	$19.11M	$19.24M
VXUS Vanguard Total International Stock ETF	$386.57M	$447.19M	$513.76M

VXUS vs. GUNR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VXUS Vanguard Total International Stock ETF	11.16%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	15.47%	30.03%	-8.37%	-2.40%	14.83%	26.06%	0.46%	18.41%	-9.42%	18.74%

Correlation

The correlation between VXUS and GUNR is 0.54, 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.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.75
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011	0.78

Over the past year, the correlation between VXUS and GUNR has dropped to 0.54 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

VXUS vs. GUNR - Sectors Allocation Comparison

Sectors	VXUS	GUNR
Technology	23.0%	0.5%
Financial Services	22.6%	0.0%
Industrials	14.9%	0.5%
Consumer Cyclical	7.0%	0.4%
Basic Materials	6.9%	52.3%
Healthcare	6.7%	-
Consumer Defensive	4.8%	11.8%
Energy	4.2%	29.2%
Communication Services	3.8%	1.7%
Utilities	2.9%	5.4%
Real Estate	2.0%	1.2%

Return for Risk

VXUS vs. GUNR — Risk / Return Rank

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

VXUS

VXUS Risk / Return Rank: 56
VXUS Sharpe Ratio Rank: 55
VXUS Sortino Ratio Rank: 53
VXUS Omega Ratio Rank: 55
VXUS Calmar Ratio Rank: 55
VXUS Martin Ratio Rank: 60

GUNR

GUNR Risk / Return Rank: 74
GUNR Sharpe Ratio Rank: 81
GUNR Sortino Ratio Rank: 75
GUNR Omega Ratio Rank: 77
GUNR Calmar Ratio Rank: 72
GUNR Martin Ratio Rank: 67

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.

VXUS vs. GUNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) 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.

	VXUS	GUNR	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.87	-0.57
Sortino ratio: Return per unit of downside risk	1.84	2.43	-0.59
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.92	2.54	-0.62
Martin ratio: Return relative to average drawdown	7.12	8.17	-1.05

VXUS vs. GUNR - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 1.30, which is lower than the GUNR Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of VXUS 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

VXUS vs. GUNR - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, smaller than the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for VXUS and GUNR.

Drawdown Indicators

	VXUS	GUNR	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-45.64%	+9.67%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-11.70%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-19.59%	+6.01%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-24.06%	-5.38%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-43.04%	+7.07%
Current Drawdown Current decline from peak	-4.20%	-5.61%	+1.41%
Average Drawdown Average peak-to-trough decline	-8.17%	-10.38%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.64%	-0.60%

Volatility

VXUS vs. GUNR - Volatility Comparison

Vanguard Total International Stock ETF (VXUS) has a higher volatility of 4.58% compared to FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) at 3.48%. This indicates that VXUS'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

	VXUS	GUNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	3.48%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	14.83%	13.16%	+1.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	15.91%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.31%	18.95%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	20.31%	-3.31%

VXUS vs. GUNR - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is lower than GUNR's 0.46% expense ratio.

Dividends

VXUS vs. GUNR - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.62%, more than GUNR's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.32%	2.81%	3.39%	3.55%	4.12%	3.61%	2.79%	3.25%	3.27%	2.00%	1.73%	4.50%
VXUS Vanguard Total International Stock ETF	2.62%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VXUS and GUNR in my portfolio?

VXUS and GUNR have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VXUS or GUNR?

VXUS has higher volatility (4.58%) compared to GUNR (3.48%). In terms of maximum drawdown, VXUS dropped -35.97% vs GUNR's -45.64%.

Which ETF is better, VXUS or GUNR?

On 10-year performance, GUNR leads with 10.26% vs 9.35% for VXUS. On fees, VXUS is cheaper at 0.05% per year. On volatility, GUNR has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXUS or GUNR?

Over the 10-year period, GUNR has performed better with a 10.26% return vs 9.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VXUS or GUNR?

VXUS is cheaper with a 0.05% expense ratio, compared with 0.46% for GUNR.

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

VXUS has the higher dividend yield at 2.62%, compared with 2.32% for GUNR.

What is the main difference between VXUS and GUNR?

VXUS is categorized as Global Equities, while GUNR is Natural Resources. VXUS tracks FTSE Global All Cap ex US Index, while GUNR tracks Morningstar Global Upstream Natural Resources Index. They also come from different issuers: Vanguard and Northern Trust. Their fees differ too: 0.05% for VXUS and 0.46% for GUNR.

Which has better risk-adjusted returns?

GUNR currently has the higher Sharpe Ratio (1.87 vs 1.30), 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.