GNR vs XLB: Holdings Overlap
GNRState Street® SPDR® S&P® Global Natural Resources ETF
State Street (SPDR) · 94 holdings · $4.8B · as of 2026-08-06
XLBState Street® Materials Select Sector SPDR® ETF
State Street (SPDR) · 25 holdings · $8.4B · as of 2026-08-06
How similar are GNR and XLB?
State Street® SPDR® S&P® Global Natural Resources ETF (GNR, by State Street (SPDR)) holds 94 positions; State Street® Materials Select Sector SPDR® ETF (XLB, by State Street (SPDR)) holds 25. They have 12 holdings in common, and by portfolio weight the two funds are 17.1% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 17.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 12GNR holds 94 · XLB holds 25
- Weight in Shared Holdings
- GNR 17%·XLB 43%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
82 of 94 positions (82.3% of the fund) are not held by XLB. Showing the top 30 by weight.
Sector Breakdown
| Sector | GNR | XLB |
|---|---|---|
| Materials | 57.3% | 99.9% |
| Energy | 32.0% | 0.0% |
| Consumer Staples | 3.6% | 0.0% |
| Real Estate | 1.0% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
| Unclassified | 5.5% | 0.0% |
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, 0% of XLB).
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% |
| XLB | +2.6% | +17.5% | +22.4% | +10.0% | +6.8% | +10.2% | 1.61% |
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 XLB →
Shared Holdings(12)
The top 10 shared positions account for 94% of the overlap, led by NEM, CTVA and FCX.
 NEMNewmont Corporation COM | 2.77% | 6.60% | 2.77% |
|---|---|---|---|
 CTVACorteva Inc COM | 2.73% | 4.50% | 2.73% |
 FCXFreeport-McMoRan Inc. CL B | 2.36% | 5.75% | 2.36% |
 NUENucor Corporation COM | 1.50% | 4.74% | 1.50% |
 SWSmurfit WestRock plc COM USD0.001 | 1.29% | 3.30% | 1.29% |
 PKGPackaging Corporation of America COM | 1.19% | 3.00% | 1.19% |
 AMCRAmcor PLC COM NEW | 1.15% | 2.91% | 1.15% |
 IPInternational Paper Co. COM | 1.13% | 2.87% | 1.13% |
 CFCF Industries Holdings, Inc. COM | 0.96% | 2.40% | 0.96% |
 STLDSteel Dynamics, Inc. COM | 0.87% | 4.25% | 0.87% |
 AVYAvery Dennison Corporation COM | 0.71% | 1.78% | 0.71% |
 MOSThe Mosaic Company COM | 0.39% | 1.00% | 0.39% |
Frequently Asked Questions
How much do GNR and XLB overlap?
GNR and XLB overlap by 17.1% of portfolio weight. They share 12 holdings (GNR holds 94 positions and XLB holds 25), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GNR and XLB?
The two portfolios are 17.1% 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 XLB?
The largest positions held by both funds are NEM, CTVA, FCX, NUE and SW. Together the top 10 shared positions account for 94% of the total overlap.
What does GNR own that XLB doesn't?
82 positions (82.3% of GNR) are unique to GNR, led by BHP, NTR and XOM. In the other direction, 13 positions (56.7% of XLB) are unique to XLB.