FlexShares Morningstar Global Upstream Natural Resources Index Fund

10-Year Study

GUNR.US · · US · ETF

Executive Summary: FlexShares Morningstar Global Upstream Natural Resources Index Fund has compounded at 11.7% annually over the last 10 years, with a maximum drawdown of 31.9% and an annualized volatility of 23.2%.

1Y CAGR
+50.7%
3Y CAGR
+17.1%
5Y CAGR
+11.0%
10Y CAGR
+11.7%

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 →
31.9%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.51
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.72
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
18.5%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +30.0%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · -9.4%
% 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.
202610.49.9-0.90.7————————21.2%
20254.3-0.23.2-2.63.33.60.66.62.6-0.83.32.930.0%
2024-6.20.27.10.82.8-4.61.9-0.52.2-3.5-0.6-7.2-8.4%
20235.8-7.2-0.51.0-9.85.46.5-4.0-0.6-4.63.83.5-2.4%
20224.66.67.2-4.65.2-14.43.80.8-8.110.29.3-3.514.8%
20211.47.62.64.14.6-2.3-1.3-1.4-0.46.0-3.76.826.1%
2020-6.8-11.1-17.914.74.63.05.32.1-5.7-3.615.65.80.5%
20199.71.41.40.4-6.68.5-1.9-4.92.10.81.56.018.4%
20184.3-5.2-0.54.21.1-0.50.4-2.63.0-7.0-1.9-4.5-9.4%
20175.0-1.7-0.1-0.5-1.1-0.75.91.52.21.60.45.118.7%
2016———11.4-5.84.33.7-2.53.8-0.33.11.620.1%

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 23.2%. The dominant macroeconomic risk driver is SHV.US, accounting for 50.7% of variance. Idiosyncratic stock-specific factors contribute 5.8%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111144.141654021672
2016-05-0110495.664976280059
2016-06-0110950.095048991127
2016-07-0111357.36728396803
2016-08-0111070.584452579862
2016-09-0111495.851125639538
2016-10-0111458.282800363273
2016-11-0111813.207579099377
2016-12-0112006.859321852244
2017-01-0112610.09606435127
2017-02-0112396.475572127238
2017-03-0112389.029597748158
2017-04-0112321.733783852389
2017-05-0112191.316414424884
2017-06-0112104.50312223244
2017-07-0112816.270582196224
2017-08-0113006.932653418098
2017-09-0113291.17708444976
2017-10-0113508.80260834739
2017-11-0113568.483221173645
2017-12-0114256.953806754402
2018-01-0114869.385199433656
2018-02-0114094.214139454076
2018-03-0114023.138929471957
2018-04-0114617.124612893947
2018-05-0114776.36692859198
2018-06-0114706.645532133329
2018-07-0114763.054428944535
2018-08-0114376.879121375023
2018-09-0114812.412213654337
2018-10-0113779.396086350742
2018-11-0113516.75626279777
2018-12-0112914.929742719021
2019-01-0114163.202220254181
2019-02-0114366.105022084084
2019-03-0114574.028215730186
2019-04-0114627.447441010398
2019-05-0113666.239839347463
2019-06-0114822.847859564412
2019-07-0114539.957242056218
2019-08-0113825.989835116796
2019-09-0114115.93156472639
2019-10-0114224.687917778392
2019-11-0114433.118791495795
2019-12-0115292.903196692185
2020-01-0114257.574304619327
2020-02-0112679.47900742905
2020-03-0110408.626048500371
2020-04-0111937.814832155329
2020-05-0112482.950410938813
2020-06-0112856.602943416236
2020-07-0113540.335181664854
2020-08-0113824.071932625215
2020-09-0113032.26024808633
2020-10-0112562.76899992667
2020-11-0114525.121702194872
2020-12-0115363.470726603002
2021-01-0115585.383326658282
2021-02-0116770.477839764888
2021-03-0117198.226504284255
2021-04-0117901.589038623173
2021-05-0118733.225404310768
2021-06-0118310.609949401223
2021-07-0118081.08214827643
2021-08-0117827.636974903682
2021-09-0117762.42829018993
2021-10-0118825.228315009845
2021-11-0118131.22965754159
2021-12-0119366.6973155006
2022-01-0120264.162863766876
2022-02-0121593.21288153568
2022-03-0123145.360086192795
2022-04-0122082.729288063314
2022-05-0123234.316916464068
2022-06-0119894.346136272612
2022-07-0120656.59955888243
2022-08-0120817.082870310307
2022-09-0119122.898063482575
2022-10-0121076.394568951415
2022-11-0123034.96787513327
2022-12-0122239.32038561122
2023-01-0123523.468921518306
2023-02-0121835.150639958938
2023-03-0121724.702020002598
2023-04-0121950.732469525097
2023-05-0119793.148575393312
2023-06-0120852.112795230067
2023-07-0122215.5722400537
2023-08-0121325.665483960132
2023-09-0121194.063527699593
2023-10-0120214.015354501713
2023-11-0120979.1456308489
2023-12-0121705.071723912293
2024-01-0120364.11942891633
2024-02-0120401.180074121294
2024-03-0121855.683478398212
2024-04-0122025.981937871242
2024-05-0122643.32090457307
2024-06-0121591.351387940904
2024-07-0121994.787817934648
2024-08-0121887.21605171568
2024-09-0122363.814820873547
2024-10-0121572.228771921913
2024-11-0121436.734601781398
2024-12-0119888.36679321063
2025-01-0120752.607501255097
2025-02-0120703.418943235723
2025-03-0121373.274592868787
2025-04-0120822.554533300998
2025-05-0121510.96870998494
2025-06-0122284.447503060186
2025-07-0122412.21365433756
2025-08-0123890.070341894327
2025-09-0124521.56794169577
2025-10-0124336.77239574226
2025-11-0125143.306802348867
2025-12-0125863.479187937526
2026-01-0128565.465345194247
2026-02-0131385.9101857545
2026-03-0131115.147481060714
2026-04-0131340.783068305536
Annual Return Matrix
YearAnnual Return
20170.18740075356817365
2018-0.09413119255528346
20190.18412593032600721
20200.004614397214394161
20210.2605678534581197
20220.14832797886562932
2023-0.024022706289378304
2024-0.08369955896990755
20250.300432532085372
20260.21177753544165756
Total Factor Risk
0.2317874994760791
VTI.US Exposure
0.019266162952666577
VEA.US Exposure
0.15949943768005545
VWO.US Exposure
0.02978055207200708
QQQ.US Exposure
-0.015374815697305214
VTV.US Exposure
0.16557331004001988
IJR.US Exposure
0.021939681111544495
QUAL.US Exposure
-0.04881418635346718
SHV.US Exposure
0.5066277257937702
TLT.US Exposure
0.008466814274282546
LQD.US Exposure
-0.01351028895756938
HYG.US Exposure
0.0020524730627916026
GLD.US Exposure
0.024415872124902642
USO.US Exposure
0.04084132412655754
VNQ.US Exposure
-0.03222383449889104
BTC-USD.CC Exposure
0.0055125899725687105
CPER.US Exposure
0.060036381133975185
VIX.INDX Exposure
-0.0055355802068123225
UUP.US Exposure
-0.011393151620211022
TIP.US Exposure
0.02456422315185897
Idiosyncratic Exposure
0.05827530983725527
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
23.2%

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 →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
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
$112
Avg Yield on Cost
1.12%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$111.691.12%Solid

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 →
+2.7%
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 →
+20.0%
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 →
0.6% 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 →
0.72
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is FlexShares Morningstar Global Upstream Natural Resources Index Fund a high-risk investment?

FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR.US) has an annualized volatility of 23.2% and experienced a maximum drawdown of 31.9% over the last 10 years. Its primary macro risk driver is SHV.US.

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

Over the past 10 years, GUNR.US has generated a Compound Annual Growth Rate (CAGR) of 11.7%. 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.

Run a Full Backtest on FlexShares Morningstar Global Upstream Natural Resources Index Fund

stresstest.pro lets you simulate DCA vs Lump Sum, Monte Carlo projections, portfolio optimisation, and more — all in seconds.

Start a Free Backtest