More recently, coal and steel have taken their turns as capital pours into the industrial side of the space.
Now, that rotation is broadening again - beyond the individual themes and into the entire natural resources complex.
Energy, metals, agriculture - it’s all working.
And the chart that ties it all together is the VanEck Natural Resources ETF $HAP:
The VanEck Natural Resources ETF owns the world’s giants in the business of supplying the planet - from oil and copper to corn and clean energy.
Its top five holdings tell the story: Exxon Mobil $XOM, Deere $DE, Chevron $CVX, NextEra Energy $NEE, and Iberdrola $IBE - a perfect mix of traditional energy, agriculture, and renewable power.
On the chart, HAP is breaking out from a multi-year base, reclaiming the same level that capped its 2022 rally. The price has spent the past three years carving out a massive accumulation pattern, and now the bulls are taking control.
We want to own HAP above 57, with a target of 66.50 over the next 3–6 months.
What makes this setup even more compelling is that HAP’s dividend yield is nearly double that of the S&P 500. Investors get paid to own the breakout.
But if this isn't enough potential upside for you, we've got you covered. We've dug through all of the HAP components to find the individual stocks that offer the best risk/reward.
Here are the top names in the VanEck Natural Resources ETF:
The table above contains the HAP holdings, ranked by their proximity to new 52-week highs. We've also included the distance from the 52-week low to show how they've performed over the past year.
It’s a snapshot of global leadership - from energy giants like Shell $SHEL and TotalEnergies $TTE, to metals powerhouses like BHP $BHP, Vale $VALE, and Southern Copper $SCCO. It also has renewable and ag plays like Enlight Renewable Energy $ENLT and Bunge Global $BG.
You can see which names have already made their runs and which ones are still setting up.
Bloom Energy $BE jumps off the page - up more than 1,000% from its 52-week low. That’s incredible strength, but it also means it’s stretched. We’d rather let that one cool off and offer a better risk/reward setup.
The real opportunity lies in the next wave of setups - the high-quality names tightening just beneath new highs, where the risk is skewed in our favor.
Keep scrolling to unlock this week’s Commodities Trade of the Week, where we reveal our favorite setup from this universe.
This week, we're outlining the key levels in a global bellwether for base and industrial metals that's entering a brand-new primary uptrend, and showing relative strength versus the VanEck Natural Resources ETF.
Premium members can see the entry and target levels below. 👇
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