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NORWvsEUFNETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.01%

Full NORW fund page

VS

ETF 2

EUFN

iShares MSCI Europe Financials ETF

This fund is part of

Europe Blended Cap

+0.01%

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 Industrials. 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 29.17% year-to-date (YTD) with +$20M in YTD flows. EUFN performs worse with 10.82% YTD performance, and -$1.73B 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 11/11/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW EUFN	+1.72%+3.59%	+1.92%-5.21%	+29.17%+10.82%	+34.88%+18.84%	+83.17%+141.11%	+45.16%+142.42%
Flows	NORW EUFN	-$3M-$607M	+$812K-$930M	+$20M-$1.73B	+$22M-$1.68B	+$11M+$1M	-$13M-$291M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW EUFN	+14.44%+20.43%	+16.02%+21.37%	+18.19%+18.59%	+21.92%+21.39%
Max drawdown	NORW EUFN	-7.52%-12.34%	-13.77%-14.53%	-15.97%-15.30%	-33.23%-34.97%
Max drawdown duration	NORW EUFN	50d69d	91d73d	48d36d	1147d531d

Trading data

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	NORW	EUFN
Last sale 11/13/2026 at 2:30 PM	$36.49	$39.64
Previous close 11/11/2026	$36.36	$39.56
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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	NORW	EUFN
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

	NORW	EUFN
Last price	$36.49	$39.64
1D performance	+0.36%	+0.20%
AuM	$91.19 M	$3.09 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	59	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

89.24%

Other

10.76%

EUFN

United Kingdom

23.02%

Spain

12.59%

Germany

12.12%

Italy

11.09%

Switzerland

10.98%

France

7.32%

Other

22.88%

Sectors

NORW

Energy

31.76%

Finance

25.06%

Industrials

12.97%

Consumer Non-Cycl.

11.43%

Non-Energy Materi.

8.76%

Other

10.02%

EUFN

Finance

98.16%

Other

1.84%

Diversification

NORW

Total weight of top 15 holdings out of 15

70.6%

EUFN

Total weight of top 15 holdings out of 15

55.74%

Top 15 holdings

Data as of September 30, 2026

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%

EUFN

HSBC Holdings Plc

9.73%

Banco Santander SA

5.68%

Allianz SE

5.12%

Banco Bilbao Vizcaya Argentaria SA

4.47%

UBS Group AG

4.27%

UniCredit SpA

3.64%

BNP Paribas SA

3.04%

Intesa Sanpaolo SpA

3.04%

ING Groep NV

2.92%

Zurich Insurance Group AG

2.85%

Lloyds Banking Group Plc

2.35%

Barclays PLC

2.34%

AXA SA

2.16%

NatWest Group Plc

2.07%

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 November 11, 2026, NORW is up 29.17% year-to-date (YTD), while EUFN has returned 10.82%. 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 +$20M in flows, compared to -$1.73B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 16.02%, while EUFN experienced 21.37%.

Which ETF is bigger: NORW or EUFN?

As of November 11, 2026, NORW holds $91.19 M in assets under management (AUM), while EUFN manages $3.09 B.

What sectors do the NORW and EUFN ETFs invest in?

NORW leans toward sectors like Energy, Finance and Industrials. 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 Kongsberg Gruppen 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 59 securities with 70.6% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 55.74%.

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 November 11, 2026, NORW is up 29.17% year-to-date (YTD), while EUFN has returned 10.82%. 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 +$20M in flows, compared to -$1.73B for EUFN.

Which ETF is more volatile: NORW or EUFN?

Over the past year, NORW had a volatility of 16.02%, while EUFN experienced 21.37%.

Which ETF is bigger: NORW or EUFN?

As of November 11, 2026, NORW holds $91.19 M in assets under management (AUM), while EUFN manages $3.09 B.

What sectors do the NORW and EUFN ETFs invest in?

NORW leans toward sectors like Energy, Finance and Industrials. 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 Kongsberg Gruppen 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 59 securities with 70.6% of its assets in the top 15. EUFN has 85 securities and a top 15 weight of 55.74%.

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

ETFs’ Next Act: From Access to Selection