An interesting ETF I hadn't heard of is the FlexShares Morningstar Global Upstream Natural Resources ETF (GUNR). It's actually the 2nd largest ETF in the Natural Resources category (after the Spider XLB), with $1.65 Bil in assets.
Most other related ETFs hold sectors like chemicals, paper, steel, but the GUNR concentrates on energy, mining, and agrobusiness. GUNR has the following as its top 10 holdings -
Energy - Exxon, Chevron
Mining - BHP Biliton, Rio Tinto
Agrobusiness - Monsanto, Syngenta, Archer Daniels
So when added to a Gold Mining ETF like GDX/GDXJ, this covers the 4 out of favor 'Contrarian Value' sectors.
Biotech might actually be considered a 5th contrarian value sector right now. Hard to believe, but looking at the sector as a whole it was down 40-50% since last Summer. It bounced some since February, but is still way down. The main Biotech ETFs are IBB, XBI, FBT, and BBH.
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