ETF Research and Analysis

by Alex Bryan, CFA
SPDR S&P Global Natural Resources ETF GNR invests in the world's 90 largest stocks in the energy, agriculture, and metals and mining sectors. In order to better diversify the portfolio, the fund assigns equal weightings   Read more 

Bull Case

The fund offers balanced exposure to stocks in the agriculture, energy, and metals and mining industries.
Investors in natural-resources stocks get indirect exposure to commodity prices but avoid some of the risks associated with investing in commodity futures, such as negative roll yield.
Natural-resources stocks may offer good portfolio diversification benefits. Read more 

Bear Case

Infrastructure investment in China may continue to slow, which could create a headwind for the fund's holdings in the metals and mining industry.
The performance of the fund's holdings may diverge from the performance of natural-resources commodities.
Many of the fund's holdings sell into volatile commodity markets and compete on cost. Read more 

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