State Street Global Advisors (SSgA) introduced the SPDR S&P Global Natural Resources ETF (GNR) on September 14, 2010. The press release touts GNR as the “first global natural resources ETF”, which is only true if you somehow manage to exclude the IQ Global Resources ETF (GRES) launched in October 2009.

The new ETF seeks to track the S&P Global Natural Resources Index which is designed to provide investors with global equal-weighted sector exposure to Energy, Metals and Mining, and Agriculture. The underlying index is based on 90 of the largest companies in the global natural resources and commodities businesses listed in developed markets.

Top holdings of GNR (as of 9/16/10) listed on the overview page include BHP Billiton (BHP) 5.0%, Exxon Mobil (XOM) 4.8%, Monsanto Co New (MON) 3.6%, and Potash Corp Saskatchewan (POT) 3.6%.

Sector representation stands at Materials 56.1%, Energy 32.6%, Consumer Staples 9.0%, and Financials 1.1%. Country weightings are currently at U.S. 28.5%, Canada 12.8%, U.K. 10.9%, Australia 8.6%, and Russia 5.03%, with these largest five representing 65.8% of the fund.

GNR’s annual expense ratio is 0.40%. Additional information can be found in the fact sheet (pdf).

Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.