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ENORvsNORWETF Comparison

ETF 1

ENOR

iShares MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.01%

Full ENOR fund page

VS

ETF 2

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.01%

Full NORW fund page

The ETFs iShares MSCI Norway ETF (ENOR) and Global X MSCI Norway ETF (NORW) track the MSCI Norway IMI 25/50 Net Total Return Index - USD and belong to the same industry segment: Europe Blended Cap. Both ETFs have the same top 3 sector exposures: Energy, Finance and Industrials. ENOR is more expensive with a Total Expense Ratio (TER) of 0.53%, versus 0.5% for NORW. ENOR is up 30.48% year-to-date (YTD) with +$290M in YTD flows. NORW performs worse with 29.17% YTD performance, and +$20M in YTD flows. Run a side-by-side ETF comparison of ENOR and NORW below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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ENOR vs NORW performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 11/11/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	ENOR NORW	+1.90%+1.72%	+1.81%+1.92%	+30.48%+29.17%	+35.92%+34.88%	+84.47%+83.17%	+46.97%+45.16%
Flows	ENOR NORW	+$112M-$3M	+$241M+$812K	+$290M+$20M	+$290M+$22M	+$288M+$11M	+$283M-$13M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	ENOR NORW	+15.15%+14.44%	+16.15%+16.02%	+17.39%+18.19%	+21.00%+21.92%
Max drawdown	ENOR NORW	-7.79%-7.52%	-13.66%-13.77%	-14.91%-15.97%	-32.63%-33.23%
Max drawdown duration	ENOR NORW	50d50d	89d91d	54d48d	1149d1147d

Trading data

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	ENOR	NORW
Last sale 11/13/2026 at 2:30 PM	$35.98	$36.49
Previous close 11/11/2026	$35.96	$36.36
Consolidated volume 11/11/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 30, 2026

1-year trailing difference

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	ENOR	NORW
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 11/13/2026 at 2:30 PM

Live

Closed

	ENOR	NORW
Last price	$35.98	$36.49
1D performance	+0.06%	+0.36%
AuM	$341.02 M	$91.19 M
E/R	0.53%	0.5%

Characteristics

	ENOR	NORW
Management strategy	Passive	Passive
Provider	iShares	Global X
Benchmark	MSCI Norway IMI 25/50 Index	MSCI Norway IMI 25/50 Index
N° of holdings	59	59
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	January 23, 2012	August 17, 2009
ESG	No	No

More ENOR data on Trackinsight

More NORW data on Trackinsight

Exposure

Countries

ENOR

Norway

89.24%

Other

10.76%

NORW

Norway

89.24%

Other

10.76%

Sectors

ENOR

Energy

31.76%

Finance

25.06%

Industrials

12.97%

Consumer Non-Cycl.

11.43%

Non-Energy Materi.

8.76%

Other

10.02%

NORW

Energy

31.76%

Finance

25.06%

Industrials

12.97%

Consumer Non-Cycl.

11.43%

Non-Energy Materi.

8.76%

Other

10.02%

Diversification

ENOR

Total weight of top 15 holdings out of 15

70.6%

NORW

Total weight of top 15 holdings out of 15

70.6%

Top 15 holdings

Data as of September 30, 2026

ENOR

Equinor ASA

12.16%

DNB Bank ASA

11.59%

Kongsberg Gruppen ASA

6.19%

Aker BP ASA

4.98%

Norsk Hydro ASA

4.92%

Mowi ASA

4.10%

Telenor ASA

3.66%

Storebrand ASA

3.51%

Subsea 7 SA

3.38%

Frontline Plc

3.19%

Yara International ASA

3.11%

Orkla ASA

3.07%

Gjensidige Forsikring ASA

2.40%

Vår Energi ASA

2.20%

Sparebank 1 Sør-Norge ASA

2.14%

NORW

Equinor ASA

12.16%

DNB Bank ASA

11.59%

Kongsberg Gruppen ASA

6.19%

Aker BP ASA

4.98%

Norsk Hydro ASA

4.92%

Mowi ASA

4.10%

Telenor ASA

3.66%

Storebrand ASA

3.51%

Subsea 7 SA

3.38%

Frontline Plc

3.19%

Yara International ASA

3.11%

Orkla ASA

3.07%

Gjensidige Forsikring ASA

2.40%

Vår Energi ASA

2.20%

Sparebank 1 Sør-Norge ASA

2.14%

Frequently asked questions about ENOR and NORW

How have the ENOR and NORW ETFs performed in 2026?

As of November 11, 2026, ENOR is up 30.48% year-to-date (YTD), while NORW has returned 29.17%. That puts ENOR better performer ahead so far this year.

Which ETF is attracting more investor money: ENOR or NORW?

Year-to-date, the ENOR ETF saw +$290M in flows, compared to +$20M for NORW.

Which ETF is more volatile: ENOR or NORW?

Over the past year, ENOR had a volatility of 16.15%, while NORW experienced 16.02%.

Which ETF is bigger: ENOR or NORW?

As of November 11, 2026, ENOR holds $341.02 M in assets under management (AUM), while NORW manages $91.19 M.

What sectors do the ENOR and NORW ETFs invest in?

ENOR leans toward sectors like Energy, Finance and Industrials. Meanwhile, NORW focuses on Energy, Finance and Industrials.

What are the top holdings of the ENOR ETF and NORW ETF?

ENOR top holdings include Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA. NORW holds in its top three: Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA.

Which ETF is more diversified: ENOR or NORW?

ENOR holds 59 securities with 70.6% of its assets in the top 15. NORW has 59 securities and a top 15 weight of 70.6%.

The ETF Underdogs, Part 2: 5 More ETFs Under $50 Million AUM to Watch

January 10, 2025

NORW

ENORvsNORWETF Comparison

iShares MSCI Norway ETF

Global X MSCI Norway ETF

ENOR vs NORW performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the ENOR and NORW ETFs performed in 2026?

As of November 11, 2026, ENOR is up 30.48% year-to-date (YTD), while NORW has returned 29.17%. That puts ENOR better performer ahead so far this year.

Which ETF is attracting more investor money: ENOR or NORW?

Year-to-date, the ENOR ETF saw +$290M in flows, compared to +$20M for NORW.

Which ETF is more volatile: ENOR or NORW?

Over the past year, ENOR had a volatility of 16.15%, while NORW experienced 16.02%.

Which ETF is bigger: ENOR or NORW?

As of November 11, 2026, ENOR holds $341.02 M in assets under management (AUM), while NORW manages $91.19 M.

What sectors do the ENOR and NORW ETFs invest in?

ENOR leans toward sectors like Energy, Finance and Industrials. Meanwhile, NORW focuses on Energy, Finance and Industrials.

What are the top holdings of the ENOR ETF and NORW ETF?

ENOR top holdings include Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA. NORW holds in its top three: Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA.

Which ETF is more diversified: ENOR or NORW?

ENOR holds 59 securities with 70.6% of its assets in the top 15. NORW has 59 securities and a top 15 weight of 70.6%.

The ETF Underdogs, Part 2: 5 More ETFs Under $50 Million AUM to Watch

ETFs’ Next Act: From Access to Selection