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NORWvsEUFNETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

-0.88%

Full NORW fund page

VS

ETF 2

EUFN

iShares MSCI Europe Financials ETF

This fund is part of

Europe Blended Cap

-0.88%

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, Finance and Consumer Non-Cyclicals. In contrast, EUFN's top sector exposures are Finance, Technology and Non-Corporate. NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.49% for EUFN. NORW is up 12.89% year-to-date (YTD) with +$23M in YTD flows. EUFN performs worse with 8.28% YTD performance, and -$1.07B 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 07/01/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW EUFN	-11.45%+4.36%	-10.10%+13.02%	+12.89%+8.28%	+18.59%+29.26%	+62.24%+132.05%	+33.13%+151.00%
Flows	NORW EUFN	-$58M+$25M	-$54M-$135M	+$23M-$1.07B	+$20M-$1.08B	+$14M+$366M	+$62M+$440M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW EUFN	+15.21%+22.08%	+15.97%+19.68%	+18.99%+18.14%	+21.98%+21.26%
Max drawdown	NORW EUFN	-13.77%-5.32%	-13.77%-14.53%	-15.97%-15.30%	-33.23%-34.97%
Max drawdown duration	NORW EUFN	41d33d	41d73d	48d36d	1147d531d

Trading data

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	NORW	EUFN
Last sale 7/2/2026 at 1:30 PM	$32.44	$39.86
Previous close 07/01/2026	$31.75	$39.07
Consolidated volume 07/01/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of June 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 7/2/2026 at 1:30 PM

Live

Closed

	NORW	EUFN
Last price	$32.44	$39.86
1D performance	+2.17%	+2.02%
AuM	$83.51 M	$3.69 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	57	84
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

89.3%

Other

10.7%

EUFN

United Kingdom

22.89%

Germany

11.99%

Switzerland

11.84%

Spain

11.65%

Italy

10.46%

France

7.68%

Other

23.49%

Sectors

NORW

Energy

26.76%

Finance

23.6%

Consumer Non-Cycl.

11.93%

Industrials

11.4%

Non-Energy Materi.

11.16%

Other

15.15%

EUFN

Finance

97.29%

Other

2.71%

Diversification

NORW

Total weight of top 15 holdings out of 15

70.28%

EUFN

Total weight of top 15 holdings out of 15

55.23%

Top 15 holdings

Data as of May 31, 2026

NORW

Equinor ASA

11.00%

DNB Bank ASA

10.91%

Norsk Hydro ASA

6.80%

Kongsberg Gruppen ASA

6.48%

Aker BP ASA

4.91%

Telenor ASA

4.35%

Mowi ASA

4.14%

Yara International ASA

3.74%

Storebrand ASA

3.32%

Orkla ASA

3.31%

Subsea 7 SA

3.21%

Gjensidige Forsikring ASA

2.39%

Vår Energi ASA

1.99%

Vend Marketplaces ASA

1.88%

Sparebank 1 Sør-Norge ASA

1.86%

EUFN

HSBC Holdings Plc

9.64%

Banco Santander SA

5.35%

Allianz SE

5.06%

UBS Group AG

4.49%

Banco Bilbao Vizcaya Argentaria SA

3.95%

UniCredit SpA

3.51%

BNP Paribas SA

3.21%

Zurich Insurance Group AG

3.19%

Intesa Sanpaolo SpA

2.82%

ING Groep NV

2.72%

Barclays PLC

2.52%

Lloyds Banking Group Plc

2.40%

AXA SA

2.17%

Investor AB

2.13%

Münchener Rückversicherungs-Gesellschaft AG

2.06%

Frequently asked questions about NORW and EUFN

How have the NORW and EUFN ETFs performed in 2026?

As of July 1, 2026, NORW is up 12.89% year-to-date (YTD), while EUFN has returned 8.28%. 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 +$23M in flows, compared to -$1.07B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 15.97%, while EUFN experienced 19.68%.

Which ETF is bigger: NORW or EUFN?

As of July 1, 2026, NORW holds $83.51 M in assets under management (AUM), while EUFN manages $3.69 B.

What sectors do the NORW and EUFN ETFs invest in?

NORW leans toward sectors like Energy, Finance and Consumer Non-Cyclicals. Meanwhile, EUFN focuses on Finance.

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

NORW top holdings include Equinor ASA, DNB Bank ASA and Norsk Hydro ASA. EUFN holds in its top three: HSBC Holdings Plc, Banco Santander SA and Allianz SE.

Which ETF is more diversified: NORW or EUFN?

NORW holds 57 securities with 70.28% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 55.23%.

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 July 1, 2026, NORW is up 12.89% year-to-date (YTD), while EUFN has returned 8.28%. 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 +$23M in flows, compared to -$1.07B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 15.97%, while EUFN experienced 19.68%.

Which ETF is bigger: NORW or EUFN?

As of July 1, 2026, NORW holds $83.51 M in assets under management (AUM), while EUFN manages $3.69 B.

What sectors do the NORW and EUFN ETFs invest in?

NORW leans toward sectors like Energy, Finance and Consumer Non-Cyclicals. Meanwhile, EUFN focuses on Finance.

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

NORW top holdings include Equinor ASA, DNB Bank ASA and Norsk Hydro ASA. EUFN holds in its top three: HSBC Holdings Plc, Banco Santander SA and Allianz SE.

Which ETF is more diversified: NORW or EUFN?

NORW holds 57 securities with 70.28% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 55.23%.

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

Active Trader Report: Use of Leveraged & Inverse ETFs Way Up