SPDR S&P North American Natural Resources ETF

The State Street SPDR S&P North American Natural Resources ETF (NANR) is an index fund of US and Canadian energy, mining and agriculture stocks, from Exxon Mobil and Chevron to Newmont and Corteva. Each quarter its index resets to 45% energy, 35% metals and mining and 20% agriculture, so it is less tied to oil than a pure energy fund. Its 0.35% expense ratio is below IGE's 0.41% but above the 0.29% peer average.

• Over the year to Oct 27, 2026, NANR returned +40.6%, 7th of 9 among similar funds.
• Its 5-year annualized return was +17.6% and its 10-year +13.1%.
• In the 2020 COVID crash it fell 43.1% and regained its old high 8 months after the low.
• Its worst full calendar year was 2018 (-16.8%); its best was 2016 (+40.0%).
• The deepest fall in its price history was 49.1% (Jan 24, 2018 to Mar 18, 2020), recovered by Jan 6, 2021.

As of Jun 30, 2026, the fund held 204 securities; the ten largest made up 38.84% of assets. It also reported 3.66% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

By sector

• Over the three months to Jun 30, 2026, investors added a net $16.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -0.88%, -0.36%, -8.24%.

NANR tracks the S&P BMI North American Natural Resources Index, run by S&P Dow Jones Indices. The index starts from a broad global stock index. To qualify, a company must be based in and trade in the US or Canada. It needs a float-adjusted market value of at least $1 billion and an average of at least $5 million in shares traded each day over three months. It must also fall into one of three groups: energy, metals and mining, or agriculture. Agriculture here also covers fertilizers, forest products, paper packaging and timber real estate investment trusts. As of November 30, 2025, the index held 174 securities.

At each quarterly rebalance, the index sets energy at 45%, metals and mining at 35% and agriculture at 20%. Within each group, companies are weighted by float-adjusted market value, meaning only the shares that are freely available to trade count. Caps limit any single stock, and weights drift between rebalances.

The adviser, SSGA Funds Management, uses sampling. This means it does not have to buy every stock in the index, but it keeps at least 80% of assets in index stocks. It may also hold cash or futures (contracts to buy an asset later at a set price). As of June 30, 2026, the fund held 204 stocks and no derivatives. Portfolio turnover was 21%.

• NANR charges 0.35% a year, versus an average of 0.29% for the similar funds below (4th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).

It is a concentrated bet on commodity producers that has seen drops of more than 40%, so it fits better as a small side holding than as a core one.

NANR adds commodity producers, which have sometimes moved differently from the broad market. From the market's January 2022 peak to its October 2022 low, NANR gained 15.6%. It still had its own 26.4% drop from April to July 2022 and took about 22 months to recover. In the 2020 COVID crash it fell 43.1% in under a month. Its deepest drop was 49.1%, from January 2018 to March 2020, and it recovered by January 2021. Its worst calendar year was 2018, at -16.54%. Selling in a slump like that could lock in large losses. Income is modest: the trailing yield was 1.61% as of October 27, 2026, paid twice a year. The SEC's standard example puts costs at $36 in the first year on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.