GUNR vs VAW: Holdings Overlap
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
VAWVanguard Materials Index Fund
Vanguard · 110 holdings · $3.0B · as of 2026-05-31
Holdings snapshots are 31 days apart (GUNR: 2026-04-30, VAW: 2026-05-31). 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 GUNR and VAW?
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148 positions; Vanguard Materials Index Fund (VAW, by Vanguard) holds 110. They have 6 holdings in common, and by portfolio weight the two funds are 8.8% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 6GUNR holds 148 · VAW holds 110
- Weight in Shared Holdings
- GUNR 11%·VAW 20%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
142 of 148 positions (88.6% of the fund) are not held by VAW. Showing the top 30 by weight.
Sector Breakdown
| Sector | GUNR | VAW |
|---|---|---|
| Materials | 43.0% | 99.5% |
| Energy | 32.2% | 0.3% |
| Consumer Staples | 8.4% | 0.0% |
| Utilities | 4.2% | 0.0% |
| Real Estate | 0.9% | 0.0% |
| Other Sectors | 0.6% | 0.0% |
| Unclassified | 10.6% | 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 (11% of GUNR, 0% of VAW).
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% |
| VAW | +3.2% | +14.7% | +20.8% | +10.3% | +7.0% | +10.1% | 1.34% |
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 VAW →
Shared Holdings(6)
The top 6 shared positions account for 100% of the overlap, led by CTVA, NEM and FCX.
 CTVACorteva Inc COM | 5.00% | 3.40% | 3.40% |
|---|---|---|---|
 NEMNewmont Corporation COM | 2.05% | 7.69% | 2.05% |
 FCXFreeport-McMoRan Inc. CL B | 1.42% | 6.06% | 1.42% |
 CFCF Industries Holdings, Inc. COM | 1.65% | 1.12% | 1.12% |
 MOSThe Mosaic Company COM | 0.70% | 0.49% | 0.49% |
 RGLDRoyal Gold, Inc. COM | 0.31% | 1.22% | 0.31% |
Frequently Asked Questions
How much do GUNR and VAW overlap?
GUNR and VAW overlap by 8.8% of portfolio weight. They share 6 holdings (GUNR holds 148 positions and VAW holds 110), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GUNR and VAW?
The two portfolios are 8.8% 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 GUNR and VAW?
The largest positions held by both funds are CTVA, NEM, FCX, CF and MOS. Together the top 6 shared positions account for 100% of the total overlap.
What does GUNR own that VAW doesn't?
142 positions (88.6% of GUNR) are unique to GUNR, led by XOM, NTR and BHP. In the other direction, 104 positions (79.8% of VAW) are unique to VAW.