FNDF vs GUNR: Holdings Overlap
FNDFSchwab Fundamental International Equity ETF
Schwab · 888 holdings · $25.2B · as of 2026-05-31
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
Holdings snapshots are 31 days apart (FNDF: 2026-05-31, GUNR: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FNDF and GUNR?
Schwab Fundamental International Equity ETF (FNDF, by Schwab) holds 888 positions; FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148. They have 45 holdings in common, and by portfolio weight the two funds are 14.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 14.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 45FNDF holds 888 · GUNR holds 148
- Weight in Shared Holdings
- FNDF 14%·GUNR 47%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FNDF
843 of 888 positions (85.3% of the fund) are not held by GUNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDF | GUNR |
|---|---|---|
| Materials | 9.5% | 43.0% |
| Energy | 10.0% | 32.2% |
| Financials | 15.8% | 0.0% |
| Information Technology | 12.3% | 0.0% |
| Industrials | 11.4% | 0.6% |
| Other Sectors | 27.2% | 13.5% |
| Unclassified | 13.1% | 10.6% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (13% of FNDF, 11% of GUNR).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FNDF | +4.2% | +22.8% | +39.1% | +23.1% | +14.5% | +12.0% | 2.97% |
| GUNR | +6.1% | +16.9% | +32.8% | +11.8% | +10.9% | +10.3% | 2.30% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FNDF vs GUNR →
Shared Holdings(45)
The top 10 shared positions account for 72% of the overlap, led by SHEL, TTE and GLENPEN.
 SHELShell PLC | 2.19% | 3.89% | 2.19% |
|---|---|---|---|
 TTETotalEnergies SE | 1.69% | 2.87% | 1.69% |
 GLENPENGlencore PLC | 1.22% | 1.48% | 1.22% |
 BHPBHP Group Ltd. | 1.22% | 4.16% | 1.22% |
 BP-BP plc | 1.08% | 1.81% | 1.08% |
 RIORio Tinto PLC | 0.80% | 2.24% | 0.80% |
 ENIEni SpA | 0.55% | 0.84% | 0.55% |
 SUSuncor Energy, Inc. | 0.51% | 1.28% | 0.51% |
 CNQCanadian Natural Resources Ltd. | 0.45% | 1.46% | 0.45% |
 EQNREquinor ASA | 0.44% | 0.43% | 0.43% |
 AALAnglo American PLC | 0.42% | 1.17% | 0.42% |
 REPRepsol SA | 0.38% | 0.43% | 0.38% |
 CVECenovus Energy, Inc. | 0.34% | 0.61% | 0.34% |
 NTRNutrien Ltd. | 0.28% | 4.83% | 0.28% |
 ABXBarrick Mining Corp. | 0.21% | 1.37% | 0.21% |
 WDSWoodside Energy Group Ltd. | 0.21% | 0.66% | 0.21% |
 PKNOrlen SA PLN1.25 | 0.20% | 0.33% | 0.20% |
 FMGFortescue Ltd. | 0.18% | 0.48% | 0.18% |
 TECKTeck Resources Ltd., Class B | 0.17% | 0.58% | 0.17% |
 1605Inpex Corp. | 0.15% | 0.35% | 0.15% |
 YARYara International ASA | 0.11% | 1.27% | 0.11% |
 IMOImperial Oil Ltd. | 0.09% | 0.30% | 0.09% |
 STOSantos Ltd. | 0.09% | 0.25% | 0.09% |
 UPMUPM-Kymmene Oyj | 0.09% | 0.88% | 0.09% |
 BOLBoliden AB | 0.09% | 0.33% | 0.09% |
Frequently Asked Questions
How much do FNDF and GUNR overlap?
FNDF and GUNR overlap by 14.0% of portfolio weight. They share 45 holdings (FNDF holds 888 positions and GUNR holds 148), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDF and GUNR?
The two portfolios are 14.0% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of FNDF and GUNR?
The largest positions held by both funds are SHEL, TTE, GLENPEN, BHP and BP-. Together the top 10 shared positions account for 72% of the total overlap.
What does FNDF own that GUNR doesn't?
843 positions (85.3% of FNDF) are unique to FNDF, led by 005930, 000660 and HSBA. In the other direction, 103 positions (53.1% of GUNR) are unique to GUNR.