GUNR vs NFRA: Holdings Overlap
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
NFRAFlexShares STOXX Global Broad Infrastructure Index Fund
FlexShares · 185 holdings · $3.0B · as of 2026-04-30
How similar are GUNR and NFRA?
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148 positions; FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA, by FlexShares) holds 185. They have 18 holdings in common, and by portfolio weight the two funds are 3.3% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 18GUNR holds 148 · NFRA holds 185
- Weight in Shared Holdings
- GUNR 5%·NFRA 4%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 GUNR
130 of 148 positions (94.5% of the fund) are not held by NFRA. Showing the top 30 by weight.
Only in NFRA
167 of 185 positions (95.8% of the fund) are not held by GUNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | GUNR | NFRA |
|---|---|---|
| Materials | 43.0% | 0.0% |
| Energy | 32.2% | 8.5% |
| Industrials | 0.6% | 25.7% |
| Utilities | 4.2% | 24.9% |
| Communication Services | 0.0% | 23.2% |
| Other Sectors | 9.3% | 8.8% |
| Unclassified | 10.6% | 8.4% |
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 (11% of GUNR, 8% of NFRA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| GUNR | +6.1% | +16.9% | +32.8% | +11.8% | +10.9% | +10.3% | 2.30% |
| NFRA | +1.4% | +10.0% | +12.8% | +12.9% | +6.1% | +6.9% | 5.63% |
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 GUNR vs NFRA →
Shared Holdings(18)
The top 10 shared positions account for 93% of the overlap, led by SBSP3, UU- and SVT.
 SBSP3Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 1.01% | 0.73% | 0.73% |
|---|---|---|---|
 UU-United Utilities Group plc | 0.86% | 0.62% | 0.62% |
 SVTSevern Trent plc | 0.75% | 0.55% | 0.55% |
 AWKAmerican Water Works Co., Inc. | 1.11% | 0.33% | 0.33% |
 STOSantos Ltd. | 0.25% | 0.29% | 0.25% |
 PNNPennon Group plc | 0.24% | 0.16% | 0.16% |
 270Guangdong Investment Ltd. | 0.18% | 0.13% | 0.13% |
 WTRGEssential Utilities, Inc. | 0.42% | 0.12% | 0.12% |
| Cia de Saneamento de Minas Gerais Copasa MG | 0.13% | 0.10% | 0.10% |
 371Beijing Enterprises Water Group Ltd. | 0.09% | 0.07% | 0.07% |
| Aguas Andinas SA, Class A | 0.07% | 0.05% | 0.05% |
| BANK OF MONTREAL/CHICAGO IL CALLABLE CERTIFICATE OF DEPOSIT VARIABLE 16/APR/2027 USD 1000 | 0.03% | 0.07% | 0.03% |
| KBC BANK NV CERTIFICATE OF DEPOSIT FIXED 3.99% 22/JUN/2026 USD 1 | 0.03% | 0.07% | 0.03% |
| NORDEA BANK ABP/NEW YORK NY CERTIFICATE OF DEPOSIT VARIABLE 24/SEP/2026 USD 1000 | 0.03% | 0.07% | 0.03% |
| STANDARD CHARTERED BANK/NEW YORK CALLABLE CERTIFICATE OF DEPOSIT VARIABLE 18/SEP/2026 USD 1000 | 0.03% | 0.07% | 0.03% |
| WESTPAC BANKING CORP COMMERCIAL PAPER VARIABLE 15/OCT/2026 USD | 0.03% | 0.07% | 0.03% |
| BANK OF MONTREAL/CHICAGO IL CERTIFICATE OF DEPOSIT VARIABLE 18/NOV/2026 USD 1000 | 0.03% | 0.03% | 0.03% |
| MIZUHO BANK LTD/NEW YORK NY CERTIFICATE OF DEPOSIT VARIABLE 27/MAY/2026 USD 1000 | 0.03% | 0.03% | 0.03% |
Frequently Asked Questions
How much do GUNR and NFRA overlap?
GUNR and NFRA overlap by 3.3% of portfolio weight. They share 18 holdings (GUNR holds 148 positions and NFRA holds 185), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GUNR and NFRA?
The two portfolios are 3.3% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of GUNR and NFRA?
The largest positions held by both funds are SBSP3, UU-, SVT, AWK and STO. Together the top 10 shared positions account for 93% of the total overlap.
What does GUNR own that NFRA doesn't?
130 positions (94.5% of GUNR) are unique to GUNR, led by CTVA, XOM and NTR. In the other direction, 167 positions (95.8% of NFRA) are unique to NFRA.