NANR

SPDR S&P North American Natural Resources ETF

The SPDR S&P North American Natural Resources ETF tracks an index of US and Canadian firms involved in natural resources and commodities businesses. Firms fall into one of three categories: energy, materials or agriculture.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

598.7 M

ASSETS UNDER MGMT

35 bp

EXPENSES
Fund Basics
Fund sponsorSSgA
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateDec 15, 2015
Assets (mns)$599
Expense ratio35 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
EXXON MOBIL CORP 9.8 %
CHEVRON CORP 6.2 %
NEWMONT MINING CORP 4.5 %
AGNICO-EAGLE MINES LTD 4.4 %
FREEPORT-MCMORAN COPPER 3.4 %
CONOCOPHILLIPS 3.1 %
CORTEVA INC 2.9 %
SILVER WHEATON CORP 2.7 %
BARRICK GOLD CORPORATION 2.5 %
FRANCO-NEVADA CORP 2.3 %
Constituent Breakdown
Number of holdings144
Herfindahl-Hirschman Index 271
Wgt avg mkt cap (mns)$99,714
Large cap (>$10bn)83.4%
Mid cap ($2-10bn)13.8%
Small cap (<$2bn)2.7%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 66.1 %
CANADA 27.7 %
BRITAIN 1.3 %
Historical Performance


Standardized Performance (as of 03/31/2025)
 YTD1 YR2 YR3 YR5 YR10 YR20 YRIncep.
Price Returns 5.5% 10.7% 1.0% 0.8% 14.0% -- -- 8.6%
Dividend Yield 3.1% -8.1% -3.1% -3.9% 6.6% -- -- 1.7%
Total Returns 8.6% 2.6% -2.1% -3.1% 20.6% -- -- 10.3%
Ann. Volatility 15.7% 18.0% 18.9% 23.8% 28.2% -- -- 24.3%
Market Correlations
versus...BetaR-squared
S&P 5000.7640%
MSCI EAFE0.9155%
MSCI Emg Mkts0.6831%
Liquidity Measures
Avg. volume (000)37
Turnover0.3%
Avg. Bid/Ask (% of price)0.10%
ADV of underlying (mns)$12,354
Technical Indicators
Recent close$52.29
30d moving avg.$53.17
Annualized volatility21.2%
Relative strength (RSI)48
Short interest (ETF)0.2%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: NANR vs. Comps (1 YR)

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Results & Estimates
  2020 2021 2022 2023 2024 2025E 2026E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2024 2025E Fwd Est 2026E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.3 14.0 1.6 2.9% --
Based on closing prices from 4/23/2025
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
NANR



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Rating

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

NANR

9.1%

Cat. Avg

4.7%


ALTAR Score™ Calculation

Category Overview
There are 365 funds in the Global Equity category, with an average ALTAR Score™ of 4.7% and a standard deviation of 4.2%. NANR's ALTAR Score™ is approximately 1.0 standard deviations above the category average. This places NANR in the 85th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

NANR
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
Global Equity ETFs
# of ETFs 191
Avg. Expense Ratio 55.4 bp
Std. Deviation 17.5 bp
NANR (35 bp) Percentile rank 13
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
NANR 35.0 9.9 44.9
Peer Avg. 55.2 32.9 88.1
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .