MXI vs GNR: Holdings Overlap
MXIiShares Global Materials ETF
iShares · 101 holdings · $349M · as of 2026-03-31
GNRState Street® SPDR® S&P® Global Natural Resources ETF
State Street (SPDR) · 94 holdings · $4.8B · as of 2026-08-06
Holdings snapshots are 128 days apart (MXI: 2026-03-31, GNR: 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 MXI and GNR?
iShares Global Materials ETF (MXI, by iShares) holds 101 positions; State Street® SPDR® S&P® Global Natural Resources ETF (GNR, by State Street (SPDR)) holds 94. They have 38 holdings in common, and by portfolio weight the two funds are 38.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 38.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 38MXI holds 101 · GNR holds 94
- Weight in Shared Holdings
- MXI 48%·GNR 53%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 MXI
63 of 101 positions (51.9% of the fund) are not held by GNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | MXI | GNR |
|---|---|---|
| Materials | 99.5% | 57.3% |
| Energy | 0.0% | 32.0% |
| Consumer Staples | 0.0% | 3.6% |
| Real Estate | 0.1% | 1.0% |
| Communication Services | 0.0% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
| Unclassified | 0.0% | 5.5% |
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 (0% of MXI, 6% of GNR).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| MXI | +6.2% | +18.1% | +32.9% | +13.0% | +7.2% | +10.9% | 1.62% |
| GNR | +9.0% | +20.6% | +37.3% | +13.2% | +11.1% | +10.4% | 2.46% |
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 MXI vs GNR →
Shared Holdings(38)
The top 10 shared positions account for 57% of the overlap, led by BHP, NEM and FCX.
 BHPBHP Group Ltd. NPV | 6.21% | 5.32% | 5.32% |
|---|---|---|---|
 NEMNewmont Corporation COM | 3.99% | 2.77% | 2.77% |
 FCXFreeport-McMoRan Inc. CL B | 2.85% | 2.36% | 2.36% |
 AEMAgnico Eagle Mines Ltd. | 3.44% | 2.03% | 2.03% |
 CTVACorteva Inc COM | 1.90% | 2.73% | 1.90% |
 GLENPENGlencore PLC | 2.43% | 1.74% | 1.74% |
 ABXBarrick Mining Corp. | 2.31% | 1.67% | 1.67% |
 AALAnglo American PLC | 1.71% | 1.52% | 1.52% |
 WPMWheaton Precious Metals Corp. | 2.01% | 1.37% | 1.37% |
 NUENucor Corporation COM | 1.31% | 1.50% | 1.31% |
 VALEVale SA | 1.93% | 1.27% | 1.27% |
 NTRNutrien Ltd. | 1.23% | 4.70% | 1.23% |
 RIORio Tinto Ltd. | 1.43% | 1.11% | 1.11% |
 FNVFranco-Nevada Corp. | 1.61% | 1.08% | 1.08% |
 STLDSteel Dynamics, Inc. COM | 0.84% | 0.87% | 0.84% |
 MTArcelorMittal SA | 0.74% | 0.75% | 0.74% |
 KUSDKinross Gold Corp. | 1.24% | 0.74% | 0.74% |
 TECKTeck Resources Ltd., Class B | 0.78% | 0.71% | 0.71% |
 SWSmurfit WestRock plc COM USD0.001 | 0.70% | 1.29% | 0.70% |
 CFCF Industries Holdings, Inc. COM | 0.68% | 0.96% | 0.68% |
 PKGPackaging Corporation of America COM | 0.64% | 1.19% | 0.64% |
 IPInternational Paper Co. COM | 0.64% | 1.13% | 0.64% |
 AMCRAmcor PLC COM NEW | 0.62% | 1.15% | 0.62% |
 UPMUPM-Kymmene Oyj | 0.56% | 2.75% | 0.56% |
 5401Nippon Steel Corp. NPV | 0.67% | 0.56% | 0.56% |
Frequently Asked Questions
How much do MXI and GNR overlap?
MXI and GNR overlap by 38.6% of portfolio weight. They share 38 holdings (MXI holds 101 positions and GNR holds 94), based on each fund's latest SEC-reported holdings.
Is it redundant to own both MXI and GNR?
The two portfolios are 38.6% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of MXI and GNR?
The largest positions held by both funds are BHP, NEM, FCX, AEM and CTVA. Together the top 10 shared positions account for 57% of the total overlap.
What does MXI own that GNR doesn't?
63 positions (51.9% of MXI) are unique to MXI, led by LIN, AI and RIO. In the other direction, 56 positions (46.0% of GNR) are unique to GNR.