GNR vs SPDW: Holdings Overlap
GNRState Street® SPDR® S&P® Global Natural Resources ETF
State Street (SPDR) · 94 holdings · $4.8B · as of 2026-08-06
SPDWState Street® SPDR® Portfolio Developed World ex-US ETF
State Street (SPDR) · 2342 holdings · $40.5B · as of 2026-08-04
How similar are GNR and SPDW?
State Street® SPDR® S&P® Global Natural Resources ETF (GNR, by State Street (SPDR)) holds 94 positions; State Street® SPDR® Portfolio Developed World ex-US ETF (SPDW, by State Street (SPDR)) holds 2342. They have 41 holdings in common, and by portfolio weight the two funds are 6.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 6.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 41GNR holds 94 · SPDW holds 2342
- Weight in Shared Holdings
- GNR 55%·SPDW 6%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 GNR
53 of 94 positions (44.5% of the fund) are not held by SPDW. Showing the top 30 by weight.
Sector Breakdown
| Sector | GNR | SPDW |
|---|---|---|
| Materials | 57.3% | 5.9% |
| Energy | 32.0% | 4.1% |
| Financials | 0.0% | 21.9% |
| Industrials | 0.0% | 13.2% |
| Information Technology | 0.0% | 12.6% |
| Other Sectors | 4.6% | 23.7% |
| Unclassified | 5.5% | 17.3% |
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 (6% of GNR, 18% of SPDW).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| GNR | +9.0% | +20.6% | +37.3% | +13.2% | +11.1% | +10.4% | 2.46% |
| SPDW | +3.1% | +17.9% | +30.1% | +19.9% | +10.1% | +10.3% | 2.94% |
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 GNR vs SPDW →
Shared Holdings(41)
The top 10 shared positions account for 61% of the overlap, led by SHEL, BHP and TTE.
 SHELShell PLC | 4.37% | 0.76% | 0.76% |
|---|---|---|---|
 BHPBHP Group Ltd. | 5.32% | 0.66% | 0.66% |
 TTETotalEnergies SE EUR2.5 | 3.01% | 0.51% | 0.51% |
 BP-BP plc | 1.89% | 0.35% | 0.35% |
 CNQCanadian Natural Resources Ltd. | 1.63% | 0.28% | 0.28% |
 AEMAgnico Eagle Mines Ltd. | 2.03% | 0.26% | 0.26% |
 GLENGlencore PLC | 1.74% | 0.23% | 0.23% |
 SUSuncor Energy, Inc. | 1.27% | 0.21% | 0.21% |
 ABXBarrick Mining Corp. | 1.67% | 0.20% | 0.20% |
 AALAnglo American PLC | 1.52% | 0.19% | 0.19% |
 ENIEni SpA | 0.97% | 0.18% | 0.18% |
 WPMWheaton Precious Metals Corp. | 1.37% | 0.16% | 0.16% |
 CCOCameco Corp. | 0.71% | 0.15% | 0.15% |
 RIORio Tinto Ltd. | 1.11% | 0.14% | 0.14% |
 FNVFranco-Nevada Corp. | 1.08% | 0.13% | 0.13% |
 EQNREquinor ASA | 0.56% | 0.12% | 0.12% |
 WDSWoodside Energy Group Ltd | 0.73% | 0.12% | 0.12% |
 MTArcelorMittal SA | 0.75% | 0.11% | 0.11% |
 CVECenovus Energy, Inc. | 0.66% | 0.11% | 0.11% |
 NTRNutrien Ltd. | 4.70% | 0.11% | 0.11% |
 REPRepsol SA | 0.56% | 0.11% | 0.11% |
 TECK-BTeck Resources Ltd., Class B | 0.71% | 0.10% | 0.10% |
 IMOImperial Oil Ltd. | 0.33% | 0.09% | 0.09% |
 KKinross Gold Corp. | 0.74% | 0.09% | 0.09% |
 5401Nippon Steel Corp. NPV | 0.56% | 0.07% | 0.07% |
Frequently Asked Questions
How much do GNR and SPDW overlap?
GNR and SPDW overlap by 6.0% of portfolio weight. They share 41 holdings (GNR holds 94 positions and SPDW holds 2342), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GNR and SPDW?
The two portfolios are 6.0% 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 GNR and SPDW?
The largest positions held by both funds are SHEL, BHP, TTE, BP- and CNQ. Together the top 10 shared positions account for 61% of the total overlap.
What does GNR own that SPDW doesn't?
53 positions (44.5% of GNR) are unique to GNR, led by XOM, NEM and CTVA. In the other direction, 2301 positions (92.6% of SPDW) are unique to SPDW.