SPDR® S&P Global Natural Resources ETF

10-Year Study

GNR.US · · US · ETF

Executive Summary: SPDR® S&P Global Natural Resources ETF has compounded at 11.3% annually over the last 10 years, with a maximum drawdown of 35.5% and an annualized volatility of 20.1%.

1Y CAGR
+51.0%
3Y CAGR
+18.1%
5Y CAGR
+10.7%
10Y CAGR
+11.3%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
35.5%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.47
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.66
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
19.4%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +28.7%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · -13.2%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
70%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20269.710.9-1.20.7————————21.0%
20254.90.21.8-3.73.63.60.56.52.0-0.73.93.428.7%
2024-5.80.18.4-0.53.6-4.91.6-0.11.8-4.1-0.7-7.0-8.3%
20237.6-6.3-0.7-0.2-9.56.57.7-3.6-0.5-4.54.53.72.9%
20224.24.07.3-4.95.4-15.64.0-0.3-8.410.810.6-3.710.2%
20210.78.92.33.95.4-2.5-0.5-1.6-1.05.3-4.67.024.7%
2020-8.1-9.9-19.013.74.31.92.93.8-4.8-3.116.97.1-0.0%
20199.51.31.10.5-8.49.9-2.8-6.23.01.91.45.916.5%
20185.2-5.8-0.54.31.7-1.20.9-3.43.6-9.1-3.4-5.3-13.2%
20175.4-2.00.2-0.6-0.4-0.16.31.13.02.10.25.822.6%
2016———10.9-5.82.94.1-1.12.4-0.14.12.020.1%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 20.1%. The dominant macroeconomic risk driver is VEA.US, accounting for 28.1% of variance. Idiosyncratic stock-specific factors contribute 6.8%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111086.66850786713
2016-05-0110440.40714545884
2016-06-0110747.687492244944
2016-07-0111185.012628233608
2016-08-0111063.373319404252
2016-09-0111329.787021137783
2016-10-0111318.219479100373
2016-11-0111778.719725260871
2016-12-0112011.791688180692
2017-01-0112654.890988924779
2017-02-0112400.565168489857
2017-03-0112429.78421931099
2017-04-0112353.774661079024
2017-05-0112307.024179765207
2017-06-0112300.499925951723
2017-07-0113070.56200642819
2017-08-0113215.696634205502
2017-09-0113615.557343387889
2017-10-0113905.826598942513
2017-11-0113929.52204837554
2017-12-0114731.605006464215
2018-01-0115491.140223425673
2018-02-0114596.476902940718
2018-03-0114524.42992831326
2018-04-0115142.87315329595
2018-05-0115401.081505141354
2018-06-0115214.23968427415
2018-07-0115353.9707889544
2018-08-0114831.470118517274
2018-09-0115360.054755700718
2018-10-0113968.66757125646
2018-11-0113497.760539871997
2018-12-0112788.05781369453
2019-01-0114000.488318383586
2019-02-0114183.447607840311
2019-03-0114335.386672110217
2019-04-0114403.631167521226
2019-05-0113200.486717339705
2019-06-0114501.054687656351
2019-07-0114099.552908496342
2019-08-0113220.699896332408
2019-09-0113615.877552164011
2019-10-0113875.086556434797
2019-11-0114071.094353518496
2019-12-0114896.712656652138
2020-01-0113686.28345681384
2020-02-0112333.801638668412
2020-03-019987.111596761088
2020-04-0111358.966045861902
2020-05-0111852.808030836106
2020-06-0112079.515844330504
2020-07-0112429.504036631884
2020-08-0112897.24900635214
2020-09-0112282.288051809779
2020-10-0111896.316398291687
2020-11-0113904.665842129067
2020-12-0114892.269759883446
2021-01-0114992.054819742472
2021-02-0116332.288652201234
2021-03-0116714.738009181987
2021-04-0117359.918666970865
2021-05-0118301.05228609053
2021-06-0117847.796763489798
2021-07-0117763.621881466715
2021-08-0117470.630851315058
2021-09-0117292.15448472404
2021-10-0118208.151714918127
2021-11-0117366.24279029928
2021-12-0118573.46990237635
2022-01-0119361.703830897746
2022-02-0120132.72653770258
2022-03-0121609.36930878933
2022-04-0120542.313588459678
2022-05-0121643.79175222245
2022-06-0118268.270912635042
2022-07-0119004.75109771571
2022-08-0118941.629942722655
2022-09-0117345.909533015525
2022-10-0119211.645993187558
2022-11-0121245.73221740575
2022-12-0120468.345361175492
2023-01-0122022.678786568846
2023-02-0120644.260057557527
2023-03-0120493.481750101066
2023-04-0120450.413669712652
2023-05-0118511.98981736092
2023-06-0119706.208447908037
2023-07-0121226.839899614548
2023-08-0120466.504160712782
2023-09-0120367.79980547317
2023-10-0119453.963984517908
2023-11-0120327.613604069855
2023-12-0121072.099008553574
2024-01-0119855.745946357027
2024-02-0119885.48533643936
2024-03-0121548.209432550026
2024-04-0121436.616674071498
2024-05-0122202.876275331517
2024-06-0121123.812725897285
2024-07-0121460.432201795575
2024-08-0121433.934925571473
2024-09-0121812.181542365626
2024-10-0120919.559552828443
2024-11-0120783.39077078255
2024-12-0119328.722326957177
2025-01-0120272.617746770895
2025-02-0120319.248149793668
2025-03-0120684.366206766812
2025-04-0119915.264752618707
2025-05-0120626.088209512603
2025-06-0121373.215336399335
2025-07-0121483.527259773375
2025-08-0122882.439350456498
2025-09-0123331.652237258695
2025-10-0123162.18174249611
2025-11-0124060.6075161005
2025-12-0124872.216685278807
2026-01-0127277.785115895567
2026-02-0130239.716295024355
2026-03-0129887.486641290125
2026-04-0130103.62756517249
Annual Return Matrix
YearAnnual Return
20170.22642861189140917
2018-0.1319304442331205
20190.1648925015571545
2020-0.00029824679250345376
20210.2471886557151457
20220.10202054159824514
20230.02949694451234408
2024-0.08273388810904547
20250.286800868911562
20260.21033150949468937
Total Factor Risk
0.20135178913027518
VTI.US Exposure
-0.010578384522896065
VEA.US Exposure
0.2814862223733052
VWO.US Exposure
0.0313764835610149
QQQ.US Exposure
-0.023937152719990147
VTV.US Exposure
0.24379689792356185
IJR.US Exposure
0.059474521315299095
QUAL.US Exposure
-0.052390532331537495
SHV.US Exposure
0.2802234714767845
TLT.US Exposure
0.015443841537347656
LQD.US Exposure
-0.022756623377601416
HYG.US Exposure
0.00432152701117107
GLD.US Exposure
0.021089309230026304
USO.US Exposure
0.05173520810598647
VNQ.US Exposure
-0.04808198506147836
BTC-USD.CC Exposure
0.006139745915310446
CPER.US Exposure
0.10918583732223207
VIX.INDX Exposure
-0.01131776008847275
UUP.US Exposure
-0.01736654598214845
TIP.US Exposure
0.013803431433427653
Idiosyncratic Exposure
0.06835248687865747
Value Score
43.9
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
27.4
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
20.1%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →15.1x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →2.28%
Market Cap$61.1B
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+2.6%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+20.2%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
0.9% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.80
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is SPDR® S&P Global Natural Resources ETF a high-risk investment?

SPDR® S&P Global Natural Resources ETF (GNR.US) has an annualized volatility of 20.1% and experienced a maximum drawdown of 35.5% over the last 10 years. Its primary macro risk driver is VEA.US.

What is the 10-year return of GNR.US?

Over the past 10 years, GNR.US has generated a Compound Annual Growth Rate (CAGR) of 11.3%. It has had a positive return in 70% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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