New Global Resources ETF Makes Debut

State Street's STT State Street Global Advisors unit, the second-largest U.S. ETF issuer, rolled a new resources ETF with a global slant today with Global Natural Resources ETF makings its debut under the ticker “GNR.” GNR will track the S&P Global Natural Resources Index, which is home to 90 companies in the agricultural, materials, mining and oil and gas industries, among others. The index's top holdings as of Dec. 31, 2009 were BP BP, Chevron CVX and Total TOT. The float-adjusted market cap of the ETF's holdings is $1 billion while the U.S., Canada, the U.K. and Australia get the top four country allocations. GNR will trade on the NYSE and have an expense ratio of 0.4%.