Flexshares Morningstar Global Upstream Natural Resources
ALTAR
Score™		 5.8% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 24.8x P/Sales
ratio		 1.0x
P/BV
ratio		 1.2x Div.
yield		 3.8%


  • 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 16, 2011
Assets (mns) $3,220
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 125
Wgt avg mkt cap (mns) $46,304
Large cap (>$10bn) 73.7%
Mid cap ($2-10bn) 24.2%
Small cap (<$2bn) 0.5%
Developed mkts 85.5%
Emerging mkts 13.9%

TOP TEN HOLDINGS
CHEVRON CORP 4.8 %
EXXON MOBIL CORP 4.6 %
BHP BILLITON LTD 3.7 %
ARCHER-DANIELS-MIDLAND CO 3.4 %
NEWMONT MINING CORP 3.2 %
BARRICK GOLD CORP 3.1 %
CORTEVA INC 3.1 %
NUTRIEN LTD. 3.0 %
TYSON FOODS INC-CL A 2.9 %
RIO TINTO PLC 2.8 %
Total 34.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 35.9 %
CANADA 13.4 %
BRITAIN 10.2 %
AUSTRALIA 6.9 %
RUSSIA 3.8 %
FRANCE 3.5 %
NORWAY 2.9 %
BRAZIL 2.4 %
MALAYSIA 2.3 %
SOUTH AFRICA 1.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.1% -13.4% 1.9% -- 1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.07 77%
MSCI EAFE 1.22 88%
MSCI Emg. Mkts. 0.93 80%

Technical Indicators
Recent close $27.77
30d moving avg. $27.85
Annualized volatility 20.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 615
Turnover 0.5%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $18,784

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.8%


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 51.8 40 6 6.7 +0.8
HAP VanEck Vectors Natural Resources ETF 44.3 50 -4 6.4 +0.5
NANR SPDR S&P North American Natural Resources ETF 40.4 35 11 3.4 -2.4
GRES IQ Global Resources ETF 32.5 77 -31 7.6 +1.8
MXI iShares Global Materials ETF 29.3 46 0 6.1 +0.3
FILL iShares MSCI Global Energy Producers ETF 24.7 39 7 6.4 +0.6
VEGI iShares MSCI Global Agriculture Producers ETF 24.2 39 7 6.1 +0.3
IXC iShares Global Energy ETF 23.7 46 0 5.8 0.0
MOO VanEck Vectors Agribusiness ETF 21.0 56 -10 5.5 -0.3
FTRI First Trust Indxx Global Natural Resources Income ETF 18.1 70 -24 9.6 +3.7
IGE iShares North American Natural Resources ETF 17.9 46 0 4.1 -1.7
FTAG First Trust Indxx Global Agriculture ETF 14.6 70 -24 6.5 +0.6
PICK iShares MSCI Global Metals & Mining Producers ETF 14.5 39 7 7.6 +1.7
DTH WisdomTree DEFA Equity Income Fund 14.1 58 -12 9.7 +3.9
XLE Energy Select Sector SPDR Fund 13.3 13 33 4.5 -1.4
FENY Fidelity MSCI Energy Index ETF 13.3 8 38 4.2 -1.6
IYE iShares U.S. Energy ETF 13.3 42 4 4.0 -1.9
VDE Vanguard Energy Index Fund 13.3 10 36 3.9 -2.0
JHME John Hancock Multifactor Energy ETF 13.3 40 6 3.7 -2.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.1 20 26 11.1 +5.3
RING iShares MSCI Global Gold Miners ETF 12.6 39 7 3.4 -2.5
FTXN First Trust Nasdaq Oil & Gas ETF 12.6 60 -14 2.1 -3.7
SGDM Sprott Gold Miners ETF 12.5 50 -4 2.9 -3.0
GBDV Global Beta Smart Income ETF 12.2 29 17 8.8 +3.0
ISDX Invesco Strategic Developed ex-US ETF 12.1 23 23 7.6 +1.7
IYM iShares U.S. Basic Materials ETF 11.9 42 4 5.4 -0.4
RYE Invesco S&P 500 Equal Weight Energy ETF 11.7 40 6 3.6 -2.3
DEW WisdomTree Global High Dividend Fund 11.5 58 -12 9.4 +3.5
PYZ Invesco DWA Basic Materials Momentum ETF 11.3 60 -14 6.1 +0.2
EWC iShares MSCI Canada ETF 11.2 49 -3 6.9 +1.1
DOO WisdomTree International Dividend ex-Financials Fund 11.1 58 -12 8.8 +3.0
EFAS Global X MSCI SuperDividend EAFE ETF 11.1 56 -10 9.7 +3.8
HDV iShares Core High Dividend ETF 11.0 8 38 6.8 +0.9
IDV iShares International Select Dividend ETF 11.0 49 -3 10.1 +4.3
IDY Pacific Global International Equity Income ETF 10.9 39 7 8.1 +2.2
XOP SPDR S&P Oil & Gas Exploration & Production ETF 10.9 35 11 3.5 -2.4
FLGB Franklin FTSE United Kingdom ETF 10.8 9 37 7.6 +1.8
EWU iShares MSCI United Kingdom ETF 10.8 50 -4 7.1 +1.2
BBCA JPMorgan BetaBuilders Canada ETF 10.7 19 27 7.1 +1.3
QCAN SPDR MSCI Canada Quality Mix ETF 10.7 14 32 7.2 +1.3
OEUR O'shares FTSE Europe Quality Dividend ETF 10.7 48 -2 6.6 +0.8
RTM Invesco S&P 500 Equal Weight Materials ETF 10.6 40 6 6.3 +0.4
XLB Materials Select Sector SPDR Fund 10.6 13 33 5.9 +0.1
FMAT Fidelity MSCI Materials Index ETF 10.5 8 38 6.1 +0.2
VAW Vanguard Materials Index Fund 10.4 10 36 6.1 +0.3
PXI Invesco DWA Energy Momentum ETF 10.2 60 -14 4.1 -1.8
FLCA Franklin FTSE Canada ETF 9.6 9 37 7.4 +1.5
QGBR SPDR MSCI UK StrategicFactors ETF 9.5 14 32 7.6 +1.8
EFV iShares MSCI EAFE Value ETF 9.4 39 7 9.6 +3.7
DJD Invesco Dow Jones Industrial Average Dividend ETF 9.3 7 39 6.9 +1.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 9.3 20 26 9.5 +3.6
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 9.3 45 1 10.0 +4.2
VYMI Vanguard International High Dividend Yield ETF 9.1 32 14 10.3 +4.4
DOL WisdomTree International LargeCap Dividend Fund 9.1 48 -2 8.6 +2.7
JHMA John Hancock Multifactor Materials ETF 8.8 40 6 6.8 +1.0
FNDF Schwab Fundamental International Large Co. Index ETF 8.7 25 21 8.9 +3.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.6 45 1 9.0 +3.1
FYLD Cambria Foreign Shareholder Yield ETF 8.6 59 -13 9.4 +3.6
RFDI First Trust Riverfront Dynamic Developed International ETF 8.2 83 -37 5.7 -0.1
JHMS John Hancock Multifactor Consumer Staples ETF 8.1 40 6 6.0 +0.2
SOIL Global X Fertilizers/Potash ETF 8.0 70 -24 5.5 -0.4
SPVU Invesco S&P 500 Enhanced Value ETF 8.0 13 33 11.5 +5.7
IVLU iShares Edge MSCI Intl Value Factor ETF 7.9 30 16 11.4 +5.6
FIVA Fidelity International Value Factor ETF 7.9 39 7 10.1 +4.2
EPP iShares MSCI Pacific ex-Japan ETF 7.9 48 -2 6.6 +0.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 7.8 35 11 8.5 +2.7
DWM WisdomTree International Equity Fund 7.8 48 -2 8.3 +2.5
AXJL WisdomTree Asia Pacific ex-Japan Fund 7.7 48 -2 9.7 +3.9
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 7.7 19 27 6.9 +1.1
FXZ First Trust Materials AlphaDEX Fund 7.7 65 -19 7.3 +1.4
FXN First Trust Energy AlphaDEX Fund 7.7 65 -19 -0.8 -6.6
BLES Inspire Global Hope Large Cap ETF 7.6 52 -6 6.5 +0.7
VOE Vanguard Mid-Cap Value Index Fund 7.6 7 39 8.0 +2.2
FKU First Trust United Kingdom AlphaDEX Fund 7.6 80 -34 9.3 +3.5
RPV Invesco S&P 500 Pure Value ETF 7.4 35 11 11.3 +5.4
IVAL Alpha Architect International Quantitative Value ETF 7.3 59 -13 10.5 +4.7
IDOG ALPS International Sector Dividend Dogs ETF 7.2 50 -4 11.0 +5.1
IQIN IQ 500 International ETF 7.2 25 21 9.0 +3.2
MAGA Point Bridge GOP Stock Tracker ETF 7.2 72 -26 6.6 +0.7
OUSA O'Shares FTSE US Quality Dividend ETF 7.1 48 -2 5.7 -0.1
PEY Invesco High Yield Equity Dividend Achievers ETF 7.0 53 -7 9.2 +3.3
HLAL Wahed FTSE USA Shariah ETF 7.0 50 -4 4.7 -1.2
FTXG First Trust Nasdaq Food & Beverage ETF 7.0 60 -14 6.4 +0.6
EQRR ProShares Equities for Rising Rates ETF 7.0 35 11 6.1 +0.3
FLAU Franklin FTSE Australia ETF 6.9 9 37 6.7 +0.9
EWA iShares MSCI Australia ETF 6.9 50 -4 6.2 +0.3
VLU SPDR S&P 1500 Value Tilt ETF 6.9 12 34 7.5 +1.7
FTA First Trust Large Cap Value AlphaDEX Fund 6.8 60 -14 9.3 +3.5
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 6.8 49 -3 4.9 -0.9
PXH Invesco FTSE RAFI Emerging Markets ETF 6.7 50 -4 13.4 +7.6
JPIN JPMorgan Diversified Return International Equity ETF 6.6 37 9 8.1 +2.2
ABEQ Absolute Core Strategy ETF 6.6 85 -39 4.7 -1.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.6 49 -3 8.9 +3.0
JKF iShares Morningstar Large Cap Value ETF 6.6 25 21 7.6 +1.8
IWS iShares Russell Mid-Cap Value ETF 6.5 24 22 7.3 +1.5
SLVP iShares MSCI Global Silver Miners ETF 6.5 39 7 1.7 -4.2
EDOW First Trust Dow 30 Equal Weight ETF 6.4 50 -4 6.0 +0.2
DGT SPDR Global Dow ETF 6.3 50 -4 6.8 +0.9
RFEU First Trust Riverfront Dynamic Europe ETF 6.3 83 -37 5.4 -0.4
FMK First Trust Mega Cap AlphaDEX Fund 6.2 70 -24 5.2 -0.6

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 7.7 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.50 CATEGORY
AVERAGE		 1.50
 
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.