Will this ETF continue its string of recent wins? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.
Inside GNR’s Rise
As mentioned earlier, GNR has now gained 60.92% from its 52-week low, which was hit back on January 20, 2016. The fund has now returned 5.92% over the past month, 11.25% over the past three months, and 13.16% in the past six months. Those returns compare very favorably to the benchmark S&P 500 index’s 0.45%, 6.54%, and 5.43% returns in the same periods, respectively. Clearly, GNR is outperforming the wider market by a wide margin.
GNR currently sits above its 10-day, 20-day, 50-day, 100-day, and 200-day moving averages (MAs), which from a technical standpoint suggests a very strong possibility that the recent gains can continue. That’s because the shares have no short-term overhead resistance to bump up against (which is expected when a security is hitting new highs).
A Look Under The Hood
SPDR S&P Global Natural Resources ETF is an Equity-focused product issued by State Street Global Advisors. Its expense ratio of 0.40% makes it the #5 cheapest ETF among 121 total funds in the Commodity ETFs category.
GNR currently boasts $842.95M in assets under management (AUM), placing it #9 of 121 ETFs in its category, and #334 of 1920 total ETFs in the U.S. exchange traded universe. While GNR is a fairly large fund, its average daily volume is pretty weak at just under 100k shares per day, so it’s likely still flying under most investor and trader radars.
The investment objective of the SPDR S&P Global Natural Resources ETF is to provide investment results that correspond generally to the total return performance of the S&P Global Natural Resources Index. This index, according to fund literature, “includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability.”
With commodity names posting a big rebound as of late, it makes sense that GNR would be benefitting handsomely.
GNR SMART Grade: More Gains Ahead?
A SMART Grade of A suggests extremely strong future price growth potential — from both a short- and long-term standpoint — so it’s reasonable to expect even more gains ahead for GNR. It receives the ETF Daily News stamp of approval.
For more information about this ETF, including full ratings, news, data, and more, please visit GNR’s ticker page.
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