Core Viewpoint - The ALPS CoreCommodity Natural Resources ETF (CCNR) has shown strong performance, surging over 28% since the beginning of the year, despite concerns about a potential softening of the U.S. economy [2] Economic Context - The U.S. GDP increased by 3.3% in the second quarter, which may support the materials sector and the investment thesis for CCNR [2] - The performance of the materials sector is expected to continue to align with the fluctuations of the U.S. and global economies, particularly if interest rates continue to decline [3] Geographic Diversification - CCNR allocates nearly two-thirds of its investments to non-U.S. equities, making it more globally focused compared to traditional global equity funds [4] - The ETF has over 14% of its portfolio in Chinese and Japanese stocks, which have seen year-to-date increases of 37.8% and 21.3%, respectively [5] Canadian Market Insights - Canadian stocks, which make up 19.30% of CCNR's portfolio, have performed well, with the MSCI Canada Index rising almost 24% year-to-date [6] - The Canadian government's initiative, Build Canada Homes, aims to stimulate residential construction and could serve as a catalyst for sectors including energy, which constitutes 35.52% of the CCNR portfolio [8]