GUNR vs VWO: Holdings Overlap
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
VWOVanguard Emerging Markets Stock Index Fund
Vanguard · 5015 holdings · $124.9B · as of 2026-04-30
How similar are GUNR and VWO?
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148 positions; Vanguard Emerging Markets Stock Index Fund (VWO, by Vanguard) holds 5015. They have 38 holdings in common, and by portfolio weight the two funds are 3.4% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 38GUNR holds 148 · VWO holds 5015
- Weight in Shared Holdings
- GUNR 14%·VWO 3%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
110 of 148 positions (85.7% of the fund) are not held by VWO. Showing the top 30 by weight.
Only in VWO
4977 of 5015 positions (95.8% of the fund) are not held by GUNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | GUNR | VWO |
|---|---|---|
| Materials | 43.0% | 3.4% |
| Energy | 32.2% | 3.1% |
| Information Technology | 0.0% | 23.7% |
| Financials | 0.0% | 12.6% |
| Consumer Staples | 8.4% | 1.7% |
| Other Sectors | 5.6% | 17.4% |
| Unclassified | 10.6% | 37.4% |
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, 38% of VWO).
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% |
| VWO | +2.7% | +12.6% | +22.3% | +16.6% | +6.6% | +7.9% | 2.29% |
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 VWO →
Shared Holdings(38)
The top 10 shared positions account for 81% of the overlap, led by VALE3, ARAMCSAR and PETR4.
 VALE3Vale SA | 1.25% | 0.51% | 0.51% |
|---|---|---|---|
 ARAMCSARSaudi Arabian Oil Co. | 0.62% | 0.38% | 0.38% |
 PETR4Petroleo Brasileiro SA - Petrobras (Preference) | 0.66% | 0.38% | 0.38% |
 GFIGold Fields Ltd. | 0.82% | 0.33% | 0.33% |
 PC6PetroChina Co. Ltd., Class H | 0.46% | 0.28% | 0.28% |
 GMEXICOBGrupo Mexico SAB de CV, Series B | 0.76% | 0.27% | 0.27% |
 MAADESARSaudi Arabian Mining Co. | 0.43% | 0.20% | 0.20% |
 VALValterra Platinum Ltd. | 0.34% | 0.18% | 0.18% |
 HNDLHindalco Industries Ltd. | 0.30% | 0.14% | 0.14% |
 CHUChina Petroleum & Chemical Corp., Class H | 0.24% | 0.12% | 0.12% |
 SBSP3Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 1.01% | 0.11% | 0.11% |
 SAFCOSARSABIC Agri-Nutrients Co. | 1.14% | 0.08% | 0.08% |
 601899Zijin Mining Group Co. Ltd., Class A | 0.16% | 0.06% | 0.06% |
 IQCDQARIndustries Qatar QSC | 1.45% | 0.06% | 0.06% |
 SUZB3Suzano SA | 0.33% | 0.05% | 0.05% |
 UPLLUPL Ltd. | 0.58% | 0.03% | 0.03% |
 KLBN11Klabin SA | 0.19% | 0.03% | 0.03% |
 270Guangdong Investment Ltd. | 0.18% | 0.02% | 0.02% |
 PIPI Industries Ltd. | 0.46% | 0.02% | 0.02% |
 002714Muyuan Foods Co. Ltd., Class A | 0.36% | 0.02% | 0.02% |
 UPLUnited Plantations Bhd. | 0.29% | 0.02% | 0.02% |
| Cia de Saneamento de Minas Gerais Copasa MG | 0.13% | 0.02% | 0.02% |
 000792Qinghai Salt Lake Industry Co. Ltd., Class A | 0.31% | 0.02% | 0.02% |
 PEPPPB Group Bhd. | 0.29% | 0.02% | 0.02% |
 CPINCharoen Pokphand Indonesia Tbk. PT | 0.29% | 0.01% | 0.01% |
Frequently Asked Questions
How much do GUNR and VWO overlap?
GUNR and VWO overlap by 3.4% of portfolio weight. They share 38 holdings (GUNR holds 148 positions and VWO holds 5015), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GUNR and VWO?
The two portfolios are 3.4% 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 VWO?
The largest positions held by both funds are VALE3, ARAMCSAR, PETR4, GFI and PC6. Together the top 10 shared positions account for 81% of the total overlap.
What does GUNR own that VWO doesn't?
110 positions (85.7% of GUNR) are unique to GUNR, led by CTVA, XOM and NTR. In the other direction, 4977 positions (95.8% of VWO) are unique to VWO.