FlexShares Morningstar Global Upstream… (GUNR) Performance
GUNR total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +19.8% since Dec 31, 2025
- 1 year
- +25.8% total return
- 5 years
- +10.2% a year
- 10 years
- +10.5% a year
- Since first price
- +6.4% a year since 2011
GUNR trailing returns vs SPY, QQQ, AGG
| Period | GUNR total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.7% | −0.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.6% | +2.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.1% | −1.4% | +7.8% | +8.4% | −1.5% |
| YTD | +19.8% | +17.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +25.8% | +22.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +51.8%+14.9%/yr | +38.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +62.5%+10.2%/yr | +37.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +171.3%+10.5%/yr | +97.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +147.6%+6.2%/yr | +59.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 22, 2011 | +153.6%+6.4%/yr | +63.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GUNR vs SPY
From Sep 22, 2011: GUNR grew to $25,357, SPY to $87,439.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GUNR returns by calendar year
8 of 14 full years positive. Best 2016 (+31.3%), worst 2015 (−24.0%). 2026 is year to date.
GUNR annual returns table
| Year | GUNR | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +19.8% | −11.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +30.0% | −14.1% | +17.7% | +20.8% | +7.2% |
| 2024 | −8.4% | −15.1% | +24.9% | +25.6% | +1.3% |
| 2023 | −2.4% | −17.0% | +26.2% | +54.9% | +5.7% |
| 2022 | +14.8% | −24.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.1% | −11.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +0.5% | −43.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +18.4% | −11.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −9.4% | −18.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +18.7% | −7.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +31.3% | −12.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −24.0% | −30.6% | +1.2% | +9.4% | +0.5% |
| 2014 | −8.3% | −21.8% | +13.5% | +19.2% | +6.0% |
| 2013 | −1.7% | −15.7% | +32.3% | +36.6% | −2.0% |
| 2012 | +9.1% | −17.6% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GUNR largest drawdowns
Now 5.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 24, 2014 | −45.6% | Jan 20, 2016 | Jan 3, 2018 | 1.5 years | 3.4 years |
| Jan 2, 2020 | −43.0% | Mar 18, 2020 | Dec 4, 2020 | 2 months | 11 months |
| Apr 18, 2022 | −24.1% | Jul 14, 2022 | Sep 11, 2025 | 3 months | 3.4 years |
| May 21, 2018 | −18.6% | Dec 24, 2018 | Dec 26, 2019 | 7 months | 1.6 years |
| Feb 27, 2012 | −17.6% | Jun 4, 2012 | Jan 29, 2013 | 3 months | 11 months |
| Jan 29, 2013 | −15.7% | Jun 24, 2013 | May 7, 2014 | 5 months | 1.3 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GUNR risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +12.6% | +11.2% | +10.2% | +6.8% |
| Volatility (annualized) | 15.8% | 18.8% | 18.6% | 18.4% |
| Sharpe ratio | 0.55 | 0.47 | 0.49 | 0.37 |
| Sortino ratio | 0.89 | 0.70 | 0.74 | 0.55 |
| Best month | +10.4% | +10.4% | +15.6% | +15.6% |
| Worst month | −8.0% | −14.4% | −17.9% | −17.9% |
| Best 12 months | +51.6% | +51.6% | +65.2% | +65.2% |
| Worst 12 months | −8.4% | −14.8% | −28.6% | −29.9% |
| Positive months | 58% | 58% | 58% | 54% |
| Beta vs S&P 500 | 0.24 | 0.58 | 0.80 | — |
| Correlation with S&P 500 | 0.19 | 0.49 | 0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GUNR rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 170 | −29.9% | +3.7% | +65.2% | 64% |
| 3-year (a year) | 146 | −14.1% | +6.3% | +27.8% | 72% |
| 5-year (a year) | 122 | −2.5% | +8.2% | +15.5% | 89% |
| 10-year (a year) | 62 | +3.7% | +5.4% | +13.0% | 100% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
GUNR performance overview
FlexShares Morningstar Global Upstream… (GUNR) returned +25.8% over the past year and +10.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +6.4% a year, turning $10,000 into about $25,357. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −45.6%, from Jul 24, 2014 to Jan 20, 2016, and it took 2.0 years to get back to the old high. GUNR finished 8 of its 14 full calendar years with a gain; the best year was 2016 (+31.3%) and the worst 2015 (−24.0%). Volatility has been 18.4% a year.
Related: GUNR chart, GUNR holdings, GUNR dividends. See the GUNR overview for the latest quote and fund facts.
GUNR performance FAQ
What is the GUNR return over the past year?
GUNR returned +25.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 22.8%.
What is the average annual return of GUNR?
GUNR has returned +10.2% a year over 5 years, +10.5% a year over 10 years, +6.4% a year since September 22, 2011 (total return, distributions reinvested).
How much would $10,000 invested in GUNR be worth?
$10,000 invested in GUNR at its first recorded close on September 22, 2011 would be worth about $25,357 on October 23, 2026 with distributions reinvested.
What was the worst year for GUNR?
The worst calendar year was 2015, with a total return of −24.0%. The best was 2016 at +31.3%.
What is the biggest drawdown of GUNR?
The largest peak-to-trough decline was −45.6% between July 24, 2014 and January 20, 2016. It recovered to the old high on January 3, 2018, 2.0 years after the bottom.
How volatile is GUNR?
Over the past 3 years GUNR had an annualized volatility of 15.8% and a Sharpe ratio of 0.55 (excess return over 1–3 month T-bills per unit of risk).