GNR vs VEU: Holdings Overlap
GNRState Street® SPDR® S&P® Global Natural Resources ETF
State Street (SPDR) · 94 holdings · $4.8B · as of 2026-08-06
VEUVanguard FTSE All-world Ex-us Index Fund
Vanguard · 3855 holdings · $69.8B · as of 2026-04-30
Holdings snapshots are 98 days apart (GNR: 2026-08-06, VEU: 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 GNR and VEU?
State Street® SPDR® S&P® Global Natural Resources ETF (GNR, by State Street (SPDR)) holds 94 positions; Vanguard FTSE All-world Ex-us Index Fund (VEU, by Vanguard) holds 3855. They have 47 holdings in common, and by portfolio weight the two funds are 5.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 5.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 47GNR holds 94 · VEU holds 3855
- Weight in Shared Holdings
- GNR 58%·VEU 5%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
47 of 94 positions (41.7% of the fund) are not held by VEU. Showing the top 30 by weight.
Sector Breakdown
| Sector | GNR | VEU |
|---|---|---|
| Materials | 57.3% | 5.4% |
| Energy | 32.0% | 4.5% |
| Financials | 0.0% | 20.0% |
| Information Technology | 0.0% | 16.2% |
| Industrials | 0.0% | 11.7% |
| Other Sectors | 4.6% | 23.7% |
| Unclassified | 5.5% | 17.4% |
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 VEU).
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% |
| VEU | +2.8% | +16.6% | +28.4% | +19.2% | +9.6% | +9.9% | 2.48% |
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 VEU →
Shared Holdings(47)
The top 10 shared positions account for 60% of the overlap, led by SHEL, BHP and TTE.
 SHELShell PLC | 4.37% | 0.66% | 0.66% |
|---|---|---|---|
 BHPBHP Group Ltd. | 5.32% | 0.49% | 0.49% |
 TTETotalEnergies SE EUR2.5 | 3.01% | 0.43% | 0.43% |
 BP-BP plc | 1.89% | 0.32% | 0.32% |
 CNQCanadian Natural Resources Ltd. | 1.63% | 0.25% | 0.25% |
 AEMAgnico Eagle Mines Ltd. | 2.03% | 0.24% | 0.24% |
 SUSuncor Energy, Inc. | 1.27% | 0.21% | 0.21% |
 GLENGlencore PLC | 1.74% | 0.21% | 0.21% |
 ABXBarrick Mining Corp. | 1.67% | 0.17% | 0.17% |
 WPMWheaton Precious Metals Corp. | 1.37% | 0.15% | 0.15% |
 CCOCameco Corp. | 0.71% | 0.14% | 0.14% |
 ENIEni SpA | 0.97% | 0.14% | 0.14% |
 AALAnglo American PLC | 1.52% | 0.13% | 0.13% |
 AUAnglogold Ashanti PLC COM SHS | 0.90% | 0.12% | 0.12% |
 WDSWoodside Energy Group Ltd | 0.73% | 0.12% | 0.12% |
 RIORio Tinto Ltd. | 1.11% | 0.12% | 0.12% |
 FNVFranco-Nevada Corp. | 1.08% | 0.11% | 0.11% |
 CVECenovus Energy, Inc. | 0.66% | 0.10% | 0.10% |
 NTRNutrien Ltd. | 4.70% | 0.09% | 0.09% |
 KKinross Gold Corp. | 0.74% | 0.09% | 0.09% |
 REPRepsol SA | 0.56% | 0.07% | 0.07% |
 TECK-BTeck Resources Ltd., Class B | 0.71% | 0.07% | 0.07% |
 EQNREquinor ASA | 0.56% | 0.07% | 0.07% |
 2899Zijin Mining Group Co Ltd | 0.65% | 0.07% | 0.07% |
 MTArcelorMittal SA | 0.75% | 0.06% | 0.06% |
Frequently Asked Questions
How much do GNR and VEU overlap?
GNR and VEU overlap by 5.2% of portfolio weight. They share 47 holdings (GNR holds 94 positions and VEU holds 3855), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GNR and VEU?
The two portfolios are 5.2% 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 VEU?
The largest positions held by both funds are SHEL, BHP, TTE, BP- and CNQ. Together the top 10 shared positions account for 60% of the total overlap.
What does GNR own that VEU doesn't?
47 positions (41.7% of GNR) are unique to GNR, led by XOM, NEM and CTVA. In the other direction, 3808 positions (93.7% of VEU) are unique to VEU.