It has been a rough year for the energy and materials sectors, but those groups being two of 2015’s worst-performing sectors, 2016 could be the time to take a new look at natural resources stocks. That refreshment could come in the form of a new exchange traded fund, the SPDR S&P North American Natural Resources ETF (NYSEArca: NANR).

NANR, which debuted last week, tracks the S&P BMI North American Natural Resources Index, which is a subset of the S&P Global Large MidCap Commodity and Natural Resources Index, according to State Street Global Advisors (SSgA), the third-largest U.S. ETF issuer.

In the current environment, market observers have been focusing on the swings in the oil market. Carlson points out that while prices are depressed, American producers are still pumping out more oil.

For instance, a state-mandated time limit on drilling and major oil-tax incentive in North Dakota’s Bakken oil could fuel a production spike in the region.  Meanwhile, oil demand remains relatively flat after seeing an average one-and-a-half percent growth rate from 1995 through the end of 2013. Dow components Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) are NANR’s two largest holdings.

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