ETF Research and Analysis
by Alex Bryan
Suitability
Disclosure: Morningstar, Inc.’s Investment Management division licenses indexes to financial institutions as the tracking indexes for investable products, such as exchange-traded funds, sponsored by the financial institution. Read more
Disclosure: Morningstar, Inc.’s Investment Management division licenses indexes to financial institutions as the tracking indexes for investable products, such as exchange-traded funds, sponsored by the financial institution. Read more
Bull Case
GNR’s equity exposure to commodities allows investors to avoid some of the risks associated with investing in the underlying commodities, such as negative roll-yields.
Renewed growth in emerging-markets should fuel demand for commodities and benefit the fund’s holdings.
The fund offers diversified global equity exposure to natural resources at a reasonable price. Read more
Bear Case
Slowing infrastructure investment in China and weakness in Europe may continue to weigh on the fund’s holdings.
The performance of the fund’s holdings may not match the performance of the underlying commodities.
Significant operating leverage limits the capacity of the fund’s holdings to adjust to adverse commodity price trends. Read more
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