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NORWvsEUFNETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.46%

Full NORW fund page

VS

ETF 2

EUFN

iShares MSCI Europe Financials ETF

This fund is part of

Europe Blended Cap

+0.46%

Full EUFN fund page

Global X MSCI Norway ETF (NORW) and iShares MSCI Europe Financials ETF (EUFN) belong to the same industry segment: Europe Blended Cap. NORW's top 3 sector exposures are Energy, Financials and Consumer Staples. In contrast, EUFN's top sector exposures are Financials, Information Technology NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.49% for EUFN. NORW is up 27.32% year-to-date (YTD) with +$76M in YTD flows. EUFN performs worse with 1.58% YTD performance, and -$1.02B in YTD flows. Run a side-by-side ETF comparison of NORW and EUFN 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 EUFN 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 05/13/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW EUFN	-0.64%-1.03%	+11.69%+2.80%	+27.32%+1.58%	+44.59%+27.20%	+82.11%+123.48%	+56.50%+132.97%
Flows	NORW EUFN	-$32M-$51M	+$72M-$1.12B	+$76M-$1.02B	+$77M-$638M	+$65M+$356M	+$116M+$589M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW EUFN	+18.36%+27.36%	+15.75%+18.98%	+19.27%+17.91%	+21.94%+21.14%
Max drawdown	NORW EUFN	-4.29%-13.55%	-9.34%-14.53%	-15.97%-15.30%	-33.23%-34.97%
Max drawdown duration	NORW EUFN	11d47d	115d73d	48d36d	1147d531d

Trading data

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	NORW	EUFN
Last sale 5/14/2026 at 3:32 PM	$38.50	$37.65
Previous close 05/13/2026	$38.52	$37.60
Consolidated volume 05/13/2026
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	EUFN
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 5/14/2026 at 3:32 PM

Live

Closed

	NORW	EUFN
Last price	$38.50	$37.65
1D performance	-0.06%	+0.13%
AuM	$155.47 M	$3.61 B
E/R	0.5%	0.49%

Characteristics

	NORW	EUFN
Management strategy	Passive	Passive
Provider	Global X	iShares
Benchmark	MSCI Norway IMI 25/50 Index	MSCI Europe Financials Index
N° of holdings	50	79
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	August 17, 2009	January 20, 2010
ESG	No	No

More NORW data on Trackinsight

More EUFN data on Trackinsight

Exposure

Countries

NORW

Norway

90.52%

Other

9.48%

EUFN

United Kingdom

23.34%

Germany

12.92%

Switzerland

11.93%

Spain

11.62%

Italy

9.83%

France

7.89%

Other

22.48%

Sectors

NORW

Energy

26.59%

Financials

22.12%

Consumer Staples

12.05%

Materials

10.85%

Other

28.39%

EUFN

Financials

93.73%

Other

6.27%

Diversification

NORW

Total weight of top 15 holdings out of 15

75.48%

EUFN

Total weight of top 15 holdings out of 15

53.71%

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%

EUFN

HSBC HOLDINGS

8.98%

BANCO SANTANDER SA

5.21%

ALLIANZ SE

5.11%

UBS GROUP AG

3.94%

BBVA

3.89%

ZURICH INSURANCE

3.32%

UNICREDIT SPA

3.19%

BNP PARIBAS

3.05%

INTESA SANPAOLO

2.69%

MUNICH RE

2.63%

AXA

2.45%

ING GROEP

2.41%

LLOYDS TSB GRP

2.33%

BARCLAYS

2.31%

INVESTOR

2.20%

Frequently asked questions about NORW and EUFN

How have the NORW and EUFN ETFs performed in 2026?

As of May 13, 2026, NORW is up 27.32% year-to-date (YTD), while EUFN has returned 1.58%. That puts NORW better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$76M in flows, compared to -$1.02B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 15.75%, while EUFN experienced 18.98%.

Which ETF is bigger: NORW or EUFN?

As of May 13, 2026, NORW holds $155.47 M in assets under management (AUM), while EUFN manages $3.61 B.

What sectors do the NORW and EUFN ETFs invest in?

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

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. EUFN holds in its top three: HSBC HOLDINGS, BANCO SANTANDER SA and ALLIANZ SE.

Which ETF is more diversified: NORW or EUFN?

NORW holds 53 securities with 75.48% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 53.71%.

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

January 10, 2025

NORW

NORWvsEUFNETF Comparison

Global X MSCI Norway ETF

iShares MSCI Europe Financials ETF

NORW vs EUFN 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 EUFN ETFs performed in 2026?

As of May 13, 2026, NORW is up 27.32% year-to-date (YTD), while EUFN has returned 1.58%. That puts NORW better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$76M in flows, compared to -$1.02B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 15.75%, while EUFN experienced 18.98%.

Which ETF is bigger: NORW or EUFN?

As of May 13, 2026, NORW holds $155.47 M in assets under management (AUM), while EUFN manages $3.61 B.

What sectors do the NORW and EUFN ETFs invest in?

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

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. EUFN holds in its top three: HSBC HOLDINGS, BANCO SANTANDER SA and ALLIANZ SE.

Which ETF is more diversified: NORW or EUFN?

NORW holds 53 securities with 75.48% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 53.71%.

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

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