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NORWvsENORETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.63%

Full NORW fund page

VS

ETF 2

ENOR

iShares MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.63%

Full ENOR fund page

The ETFs Global X MSCI Norway ETF (NORW) and iShares MSCI Norway ETF (ENOR) 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, Financials and Consumer Staples. NORW is less expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.53% for ENOR. NORW is up 26.22% year-to-date (YTD) with +$82M in YTD flows. ENOR performs better with 27.31% YTD performance, and +$75M in YTD flows. Run a side-by-side ETF comparison of NORW and ENOR 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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NORW vs ENOR 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 05/08/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW ENOR	+0.37%+0.11%	+11.22%+11.30%	+26.22%+27.31%	+44.58%+46.04%	+78.29%+80.17%	+50.75%+53.55%
Flows	NORW ENOR	-$22M+$21M	+$78M+$70M	+$82M+$75M	+$82M+$76M	+$70M+$80M	+$122M+$73M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW ENOR	+18.60%+18.19%	+15.77%+15.54%	+19.32%+18.00%	+21.97%+21.39%
Max drawdown	NORW ENOR	-4.29%-4.40%	-9.34%-8.84%	-15.97%-14.91%	-33.23%-32.63%
Max drawdown duration	NORW ENOR	11d11d	115d118d	48d54d	1147d1149d

Trading data

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	NORW	ENOR
Last sale 5/11/2026 at 1:30 PM	$38.19	$36.91
Previous close 05/08/2026	$38.09	$36.90
Consolidated volume 05/08/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of April 30, 2026

1-year trailing difference

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

Main metrics

Last update 5/11/2026 at 1:30 PM

Live

Closed

	NORW	ENOR
Last price	$38.19	$36.91
1D performance	+0.26%	+0.03%
AuM	$159.80 M	$130.09 M
E/R	0.5%	0.53%

Characteristics

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

More NORW data on Trackinsight

More ENOR data on Trackinsight

Exposure

Countries

NORW

Norway

90.52%

Other

9.48%

ENOR

Norway

90.39%

Other

9.61%

Sectors

NORW

Energy

26.59%

Financials

22.12%

Consumer Staples

12.05%

Materials

10.85%

Other

28.39%

ENOR

Energy

26.2%

Financials

22.17%

Consumer Staples

12%

Materials

10.77%

Other

28.86%

Diversification

NORW

Total weight of top 15 holdings out of 15

75.48%

ENOR

Total weight of top 15 holdings out of 15

75.69%

Top 15 holdings

Data as of March 31, 2026

NORW

EQUINOR

15.16%

DNB BANK

11.55%

NO0013536151

7.75%

NORSK HYDRO

6.19%

AKER BP ASA

5.04%

MOWI ASA

4.53%

YARA INTL

4.09%

TELENOR

3.87%

ORKLA

3.71%

UNI STOREBRAND

3.19%

SUBSEA

2.90%

GJENSIDIGE

2.19%

SPAREBANK1 SRANK

1.90%

SCHIBSTED

1.74%

SALMAR

1.67%

ENOR

EQUINOR

14.90%

DNB BANK

11.62%

NO0013536151

7.89%

NORSK HYDRO

6.15%

AKER BP ASA

4.94%

MOWI ASA

4.51%

YARA INTL

4.05%

TELENOR

3.85%

ORKLA

3.71%

UNI STOREBRAND

3.18%

SUBSEA

2.92%

GJENSIDIGE

2.19%

CY0200352116

2.13%

SPAREBANK1 SRANK

1.88%

SCHIBSTED

1.77%

Frequently asked questions about NORW and ENOR

How have the NORW and ENOR ETFs performed in 2026?

As of May 8, 2026, NORW is up 26.22% year-to-date (YTD), while ENOR has returned 27.31%. That puts ENOR better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$82M in flows, compared to +$75M for ENOR.

Which ETF is more volatile: NORW or ENOR?

Over the past year, NORW had a volatility of 15.77%, while ENOR experienced 15.54%.

Which ETF is bigger: NORW or ENOR?

As of May 8, 2026, NORW holds $159.80 M in assets under management (AUM), while ENOR manages $130.09 M.

What sectors do the NORW and ENOR ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, ENOR focuses on Energy, Financials and Consumer Staples.

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. ENOR holds in its top three: EQUINOR, DNB BANK and NO0013536151.

Which ETF is more diversified: NORW or ENOR?

NORW holds 53 securities with 75.48% of its assets in the top 15. ENOR has 57 securities and a top 15 weight of 75.69%.

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

January 10, 2025

NORW

NORWvsENORETF Comparison

Global X MSCI Norway ETF

iShares MSCI Norway ETF

NORW vs ENOR 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 NORW and ENOR ETFs performed in 2026?

As of May 8, 2026, NORW is up 26.22% year-to-date (YTD), while ENOR has returned 27.31%. That puts ENOR better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$82M in flows, compared to +$75M for ENOR.

Which ETF is more volatile: NORW or ENOR?

Over the past year, NORW had a volatility of 15.77%, while ENOR experienced 15.54%.

Which ETF is bigger: NORW or ENOR?

As of May 8, 2026, NORW holds $159.80 M in assets under management (AUM), while ENOR manages $130.09 M.

What sectors do the NORW and ENOR ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, ENOR focuses on Energy, Financials and Consumer Staples.

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. ENOR holds in its top three: EQUINOR, DNB BANK and NO0013536151.

Which ETF is more diversified: NORW or ENOR?

NORW holds 53 securities with 75.48% of its assets in the top 15. ENOR has 57 securities and a top 15 weight of 75.69%.

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

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