FlexShares Morningstar Global Upstream Natural Resources Index Fund
ALTAR
Score™		 5.1% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 27.7x P/Sales
ratio		 1.2x
P/BV
ratio		 1.5x Div.
yield		 3.3%


  • 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) $3,710
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 120
Wgt avg mkt cap (mns) $51,013
Large cap (>$10bn) 78.3%
Mid cap ($2-10bn) 18.2%
Small cap (<$2bn) 0.4%
Developed mkts 84.3%
Emerging mkts 13.9%

TOP TEN HOLDINGS
EXXON MOBIL CORP 5.2 %
CHEVRON CORP 4.8 %
ARCHER-DANIELS-MIDLAND CO 3.7 %
BHP BILLITON LTD 3.7 %
CORTEVA INC 3.7 %
NUTRIEN LTD. 3.3 %
RIO TINTO PLC 3.3 %
TOTAL SA 2.6 %
NEWMONT MINING CORP 2.5 %
BARRICK GOLD CORP 2.3 %
Total 35.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 37.3 %
CANADA 12.6 %
BRITAIN 10.4 %
AUSTRALIA 7.2 %
FRANCE 3.6 %
RUSSIA 3.5 %
NORWAY 3.0 %
BRAZIL 2.9 %
MALAYSIA 1.9 %
JAPAN 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.4% 0.4% 10.9% -- 3.4%

Market Correlations
versus... Beta R-squared
S&P500 1.10 81%
MSCI EAFE 1.16 89%
MSCI Emg. Mkts. 0.96 78%

Technical Indicators
Recent close $34.61
30d moving avg. $33.68
Annualized volatility 22.9%
Short interest (ETF) 0.4%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 643
Turnover 0.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $14,049

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the FlexShares Morningstar Global Upstream Natural Resources Index Fund 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™: 5.1%


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 51.1 40 6 5.2 +0.1
HAP VanEck Vectors Natural Resources ETF 42.6 50 -4 4.8 -0.2
NANR SPDR S&P North American Natural Resources ETF 38.2 35 11 3.1 -2.0
GRES IQ Global Resources ETF 35.3 78 -32 5.6 +0.5
MXI iShares Global Materials ETF 29.2 45 1 5.0 -0.1
VEGI iShares MSCI Global Agriculture Producers ETF 25.9 39 7 4.4 -0.7
FILL iShares MSCI Global Energy Producers ETF 25.7 39 7 5.6 +0.5
IXC iShares Global Energy ETF 23.5 46 0 5.2 +0.1
MOO VanEck Vectors Agribusiness ETF 21.4 56 -10 4.6 -0.5
DFAI Dimensional International Core Equity Market ETF 20.6 18 28 6.4 +1.3
FTRI First Trust Indxx Global Natural Resources Income ETF 18.2 70 -24 7.7 +2.6
IGE iShares North American Natural Resources ETF 17.7 46 0 3.7 -1.4
PICK iShares MSCI Global Metals & Mining Producers ETF 17.2 39 7 5.5 +0.4
FTAG First Trust Indxx Global Agriculture ETF 16.7 70 -24 5.1 +0.0
XLE Energy Select Sector SPDR Fund 13.3 13 33 4.0 -1.1
FENY Fidelity MSCI Energy Index ETF 13.3 8 38 3.6 -1.5
IYE iShares U.S. Energy ETF 13.3 42 4 3.5 -1.6
VDE Vanguard Energy Index Fund 13.3 10 36 3.5 -1.6
JHME John Hancock Multifactor Energy ETF 13.3 40 6 3.4 -1.7
IYM iShares U.S. Basic Materials ETF 12.9 43 3 4.5 -0.6
ISDX Invesco RAFI Strategic Developed ex-US ETF 12.6 23 23 6.3 +1.2
FTXN First Trust Nasdaq Oil & Gas ETF 12.2 60 -14 2.4 -2.6
FXN First Trust Energy AlphaDEX Fund 12.0 65 -19 1.8 -3.3
HDV iShares Core High Dividend ETF 11.8 8 38 6.4 +1.3
VAW Vanguard Materials Index Fund 11.6 10 36 5.0 -0.1
RYE Invesco S&P 500 Equal Weight Energy ETF 11.6 40 6 3.3 -1.8
RTM Invesco S&P 500 Equal Weight Materials ETF 11.4 40 6 4.7 -0.4
XLB Materials Select Sector SPDR Fund 11.4 13 33 4.8 -0.3
FLGB Franklin FTSE United Kingdom ETF 11.4 9 37 6.9 +1.8
XOP SPDR S&P Oil & Gas Exploration & Production ETF 11.2 35 11 3.0 -2.1
FMAT Fidelity MSCI Materials Index ETF 11.2 8 38 5.0 -0.1
EWU iShares MSCI United Kingdom ETF 11.2 51 -5 6.5 +1.4
ZGBR SPDR Solactive United Kingdom ETF 11.2 14 32 7.0 +1.9
FYLD Cambria Foreign Shareholder Yield ETF 11.1 59 -13 5.6 +0.6
FTXG First Trust Nasdaq Food & Beverage ETF 10.8 60 -14 5.5 +0.5
VYMI Vanguard International High Dividend Yield ETF 10.8 27 19 9.0 +4.0
ZCAN SPDR Solactive Canada ETF 10.7 14 32 6.5 +1.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 10.7 20 26 9.4 +4.4
EWC iShares MSCI Canada ETF 10.5 51 -5 6.3 +1.2
IDV iShares International Select Dividend ETF 10.4 49 -3 8.9 +3.8
BBCA JPMorgan BetaBuilders Canada ETF 10.1 19 27 6.5 +1.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 10.0 20 26 8.4 +3.3
IDOG ALPS International Sector Dividend Dogs ETF 9.9 50 -4 8.2 +3.1
JHMS John Hancock Multifactor Consumer Staples ETF 9.8 40 6 5.7 +0.6
RING iShares MSCI Global Gold Miners ETF 9.8 39 7 4.0 -1.1
FNDF Schwab Fundamental International Large Co. Index ETF 9.8 25 21 7.7 +2.6
DFAE Dimensional Emerging Core Equity Market ETF 9.7 35 11 7.0 +1.9
FCTR First Trust Lunt U.S. Factor Rotation ETF 9.6 65 -19 1.2 -3.9
VRAI Virtus Real Asset Income ETF 9.5 55 -9 8.8 +3.7
FXG First Trust Consumer Staples AlphaDEX Fund 9.5 64 -18 7.7 +2.6
EFAS Global X MSCI SuperDividend EAFE ETF 9.4 56 -10 8.1 +3.0
SGDM Sprott Gold Miners ETF 9.4 50 -4 3.5 -1.6
PEY Invesco High Yield Equity Dividend Achievers ETF 9.4 52 -6 8.2 +3.2
JHMA John Hancock Multifactor Materials ETF 9.2 40 6 5.4 +0.3
INFL Horizon Kinetics Inflation Beneficiaries ETF 9.1 85 -39 3.7 -1.4
EFV iShares MSCI EAFE Value ETF 9.1 39 7 8.4 +3.3
PYZ Invesco DWA Basic Materials Momentum ETF 9.0 60 -14 4.2 -0.9
FLCA Franklin FTSE Canada ETF 9.0 9 37 6.9 +1.8
IVLU iShares Edge MSCI Intl Value Factor ETF 8.9 30 16 9.9 +4.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.8 45 1 7.6 +2.5
SDY SPDR S&P Dividend ETF 8.5 35 11 6.4 +1.3
FXZ First Trust Materials AlphaDEX Fund 8.5 65 -19 5.8 +0.7
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 8.4 49 -3 4.1 -1.0
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 8.2 45 1 9.7 +4.6
DOO WisdomTree International Dividend ex-Financials Fund 8.2 58 -12 7.7 +2.6
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 8.1 19 27 5.9 +0.8
DGT SPDR Global Dow ETF 8.0 50 -4 6.3 +1.2
EPP iShares MSCI Pacific ex-Japan ETF 7.9 48 -2 5.5 +0.5
IQIN IQ 500 International ETF 7.9 25 21 7.6 +2.5
ABEQ Absolute Core Strategy ETF 7.8 88 -42 4.3 -0.8
SPVU Invesco S&P 500 Enhanced Value ETF 7.4 13 33 9.5 +4.4
MAGA Point Bridge GOP Stock Tracker ETF 7.4 72 -26 5.3 +0.3
IQDG WisdomTree International Quality Dividend Growth Fund 7.2 42 4 6.0 +0.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 7.2 58 -12 5.8 +0.7
BLES Inspire Global Hope Large Cap ETF 7.2 52 -6 5.6 +0.5
FLAU Franklin FTSE Australia ETF 7.2 9 37 5.7 +0.6
EWA iShares MSCI Australia ETF 7.2 51 -5 5.1 +0.1
PXH Invesco FTSE RAFI Emerging Markets ETF 7.1 50 -4 11.6 +6.5
IQDF FlexShares International Quality Dividend Index Fund 7.1 47 -1 7.9 +2.8
JPIN JPMorgan Diversified Return International Equity ETF 7.1 37 9 7.1 +2.0
IVAL Alpha Architect International Quantitative Value ETF 7.0 59 -13 8.3 +3.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 6.9 47 -1 8.1 +3.1
VOE Vanguard Mid-Cap Value Index Fund 6.9 7 39 6.6 +1.5
DTH WisdomTree International High Dividend Fund 6.8 58 -12 8.7 +3.6
TPHD Timothy Plan High Dividend Stock ETF 6.8 52 -6 5.6 +0.5
CZA Invesco Zacks Mid-Cap ETF 6.7 69 -23 5.6 +0.5
FIDI Fidelity International High Dividend ETF 6.6 39 7 10.1 +5.1
PBJ Invesco Dynamic Food & Beverage ETF 6.6 63 -17 5.8 +0.7
EQRR ProShares Equities for Rising Rates ETF 6.6 35 11 6.2 +1.1
ALTL Pacer Lunt Large Cap Alternator ETF 6.5 60 -14 5.6 +0.5
SPHB Invesco S&P 500 High Beta ETF 6.5 25 21 6.0 +0.9
JMIN JPMorgan U.S. Minimum Volatility ETF 6.5 12 34 5.3 +0.2
IDHQ Invesco S&P International Developed Quality ETF 6.5 29 17 4.8 -0.3
BKIE BNY Mellon International Equity ETF 6.4 4 42 6.5 +1.5
IEV iShares Europe ETF 6.4 59 -13 6.2 +1.1
VIDI Vident International Equity Fund 6.4 59 -13 9.7 +4.6
DEW WisdomTree Global High Dividend Fund 6.4 58 -12 8.8 +3.7

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 Index Fund
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 7.8 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.48
 
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.