Flexshares Morningstar Global Upstream Natural Resources
ALTAR
Score™
6.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
13.3x P/Sales
ratio
0.8x
P/BV
ratio
1.2x Div.
yield
4.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FlexShares Morningstar Global Upstream Natural Resources Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Morningstar Global Upstream Natural Resources Index.

FUND BASICS
Category Global Equities
Fund Sponsor Northern Trust Investments Inc
Website www.flexshares.com
Inception date Sep 22, 2011
Assets (mns) $4,536
Currency USD
Expense ratio 46 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 124
Wgt avg mkt cap (mns) $55,617
Large cap (>$10bn) 76.9%
Mid cap ($2-10bn) 19.9%
Small cap (<$2bn) 1.1%
Developed mkts 85.4%
Emerging mkts 13.7%

TOP TEN HOLDINGS
EXXON MOBIL CORP 4.3 %
BHP BILLITON LTD 4.2 %
CHEVRON CORP 4.1 %
NUTRIEN LTD. 3.6 %
CORTEVA INC 3.3 %
ARCHER-DANIELS-MIDLAND CO 3.3 %
TYSON FOODS INC-CL A 3.0 %
RIO TINTO PLC 3.0 %
BP PLC 2.5 %
TOTAL SA 2.4 %
Total 33.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 35.5 %
CANADA 12.2 %
BRITAIN 11.4 %
AUSTRALIA 7.2 %
RUSSIA 3.9 %
FRANCE 3.7 %
NORWAY 3.6 %
BRAZIL 3.2 %
SWITZERLAND 2.0 %
MALAYSIA 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.8% 0.7% 3.7% -- 2.8%

Market Correlations
versus... Beta R-squared
S&P500 0.82 52%
MSCI EAFE 1.03 69%
MSCI Emg. Mkts. 0.76 65%

Technical Indicators
Recent close $28.27
30d moving avg. $31.92
Annualized volatility 13.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 27

Liquidity measures
Avg. volume (thou.) 572
Turnover 0.4%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $9,899

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Flexshares Morningstar Global Upstream Natural Resources ETF based on the alternatives' overlap in portfolio holdings with GUNR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GUNR Expense: 46 bp ALTAR Score™: 6.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GUNR
Ticker Fund
Name
Overlap1
vs GUNR
(%)
Expense
ratio
(bp)
Savings
vs GUNR
(bp)
ALTAR
Score™
(%)
ALTAR
vs GUNR
(%)
GNR SPDR S&P Global Natural Resources ETF 53.4 40 6 7.5 +0.8
HAP VanEck Vectors Natural Resources ETF 45.3 50 -4 7.0 +0.3
NANR SPDR S&P North American Natural Resources ETF 39.3 35 11 4.8 -1.9
GRES IQ Global Resources ETF 36.5 77 -31 7.9 +1.2
MXI iShares Global Materials ETF 29.7 46 0 7.0 +0.3
VEGI iShares MSCI Global Agriculture Producers ETF 25.4 39 7 6.1 -0.6
FILL iShares MSCI Global Energy Producers ETF 24.9 39 7 7.8 +1.1
IXC iShares Global Energy ETF 23.8 46 0 6.7 -0.0
MOO VanEck Vectors Agribusiness ETF 22.4 54 -8 5.8 -0.9
DIET Defiance Next Gen Food & Agriculture ETF 19.5 30 16 5.0 -1.7
PICK iShares MSCI Global Metals & Mining Producers ETF 18.7 39 7 8.9 +2.2
FTAG First Trust Indxx Global Agriculture ETF 16.8 70 -24 6.6 -0.2
IGE iShares North American Natural Resources ETF 16.0 46 0 5.1 -1.6
DTH WisdomTree DEFA Equity Income Fund 12.9 58 -12 10.0 +3.3
XLE Energy Select Sector SPDR Fund 12.5 13 33 5.7 -1.1
IYE iShares U.S. Energy ETF 12.5 42 4 5.3 -1.4
FENY Fidelity MSCI Energy Index ETF 12.5 8 38 5.3 -1.4
VDE Vanguard Energy Index Fund 12.5 10 36 5.2 -1.5
JHME John Hancock Multifactor Energy ETF 12.5 40 6 4.7 -2.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.1 20 26 10.8 +4.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Flexshares Morningstar Global Upstream Natural Resources
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.5 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.56
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.