GUNR vs XLB: Holdings Overlap
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
XLBState Street® Materials Select Sector SPDR® ETF
State Street (SPDR) · 25 holdings · $8.4B · as of 2026-08-06
Holdings snapshots are 98 days apart (GUNR: 2026-04-30, XLB: 2026-08-06). 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 XLB?
FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148 positions; State Street® Materials Select Sector SPDR® ETF (XLB, by State Street (SPDR)) holds 25. They have 5 holdings in common, and by portfolio weight the two funds are 10.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 10.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 5GUNR holds 148 · XLB holds 25
- Weight in Shared Holdings
- GUNR 11%·XLB 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
143 of 148 positions (88.9% of the fund) are not held by XLB. Showing the top 30 by weight.
Sector Breakdown
| Sector | GUNR | XLB |
|---|---|---|
| Materials | 43.0% | 99.9% |
| Energy | 32.2% | 0.0% |
| 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 XLB).
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% |
| 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 GUNR vs XLB →
Shared Holdings(5)
The top 5 shared positions account for 100% of the overlap, led by CTVA, NEM and CF.
Frequently Asked Questions
How much do GUNR and XLB overlap?
GUNR and XLB overlap by 10.3% of portfolio weight. They share 5 holdings (GUNR holds 148 positions and XLB holds 25), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GUNR and XLB?
The two portfolios are 10.3% 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 XLB?
The largest positions held by both funds are CTVA, NEM, CF, FCX and MOS. Together the top 5 shared positions account for 100% of the total overlap.
What does GUNR own that XLB doesn't?
143 positions (88.9% of GUNR) are unique to GUNR, led by XOM, NTR and BHP. In the other direction, 20 positions (79.6% of XLB) are unique to XLB.