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NORWvsEWUETF 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

EWU

iShares MSCI United Kingdom ETF

This fund is part of

Europe Blended Cap

+0.46%

Full EWU fund page

Global X MSCI Norway ETF (NORW) and iShares MSCI United Kingdom ETF (EWU) belong to the same industry segment: Europe Blended Cap. NORW's top 3 sector exposures are Energy, Financials and Consumer Staples. In contrast, EWU's top sector exposures are Financials, Health Care and Energy. Both NORW and EWU have the same Total Expense Ratio (TER) of 0.5%. NORW is up 27.32% year-to-date (YTD) with +$76M in YTD flows. EWU performs worse with 6.63% YTD performance, and +$413M in YTD flows. Run a side-by-side ETF comparison of NORW and EWU 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 EWU 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 EWU	-0.64%-2.26%	+11.69%-0.50%	+27.32%+6.63%	+44.59%+26.64%	+82.11%+57.62%	+56.50%+71.10%
Flows	NORW EWU	-$32M-	+$72M+$413M	+$76M+$413M	+$77M-$372M	+$65M-$561M	+$116M-$1.24B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW EWU	+18.36%+20.04%	+15.75%+13.78%	+19.27%+14.19%	+21.94%+16.28%
Max drawdown	NORW EWU	-4.29%-10.03%	-9.34%-10.03%	-15.97%-12.53%	-33.23%-24.74%
Max drawdown duration	NORW EWU	11d73d	115d73d	48d38d	1147d427d

Trading data

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	NORW	EWU
Last sale 5/14/2026 at 3:32 PM	$38.50	$46.74
Previous close 05/13/2026	$38.52	$46.90
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	EWU
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	EWU
Last price	$38.50	$46.74
1D performance	-0.06%	-0.35%
AuM	$155.47 M	$3.45 B
E/R	0.5%	0.5%

Characteristics

	NORW	EWU
Management strategy	Passive	Passive
Provider	Global X	iShares
Benchmark	MSCI Norway IMI 25/50 Index	MSCI UK Index
N° of holdings	50	64
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	August 17, 2009	March 12, 1996
ESG	No	No

More NORW data on Trackinsight

More EWU data on Trackinsight

Exposure

Countries

NORW

Norway

90.52%

Other

9.48%

EWU

United Kingdom

93.51%

Other

6.49%

Sectors

NORW

Energy

26.59%

Financials

22.12%

Consumer Staples

12.05%

Materials

10.85%

Other

28.39%

EWU

Financials

20.91%

Health Care

13.71%

Energy

12.78%

Industrials

11.38%

Consumer Staples

10.28%

Other

30.94%

Diversification

NORW

Total weight of top 15 holdings out of 15

75.48%

EWU

Total weight of top 15 holdings out of 15

64.85%

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%

EWU

ASTRAZENECA

9.72%

HSBC HOLDINGS

8.95%

SHELL PLC

8.71%

BP

4.07%

BRITISH AMERICAN TOBACCO

4.06%

ROLLS-ROYCE HOLDINGS

4.05%

GB00BVZK7T90

3.90%

GSK PLC

3.59%

RIO TINTO

3.34%

BAE SYSTEMS

2.82%

NATIONAL GRID

2.69%

GLENCORE PLC

2.41%

LLOYDS TSB GRP

2.32%

BARCLAYS

2.30%

RELX PLC

1.92%

Frequently asked questions about NORW and EWU

How have the NORW and EWU ETFs performed in 2026?

As of May 13, 2026, NORW is up 27.32% year-to-date (YTD), while EWU has returned 6.63%. That puts NORW better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$76M in flows, compared to +$413M for EWU.

Which ETF is more volatile: NORW or EWU?

Over the past year, NORW had a volatility of 15.75%, while EWU experienced 13.78%.

Which ETF is bigger: NORW or EWU?

As of May 13, 2026, NORW holds $155.47 M in assets under management (AUM), while EWU manages $3.45 B.

What sectors do the NORW and EWU ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, EWU focuses on Financials, Health Care and Energy.

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. EWU holds in its top three: ASTRAZENECA, HSBC HOLDINGS and SHELL PLC.

Which ETF is more diversified: NORW or EWU?

NORW holds 53 securities with 75.48% of its assets in the top 15. EWU has 71 securities and a top 15 weight of 64.85%.

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

January 10, 2025

NORW

An introduction to Country-Based ETFs

July 7, 2022

EWU

NORWvsEWUETF Comparison

Global X MSCI Norway ETF

iShares MSCI United Kingdom ETF

NORW vs EWU 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 EWU ETFs performed in 2026?

As of May 13, 2026, NORW is up 27.32% year-to-date (YTD), while EWU has returned 6.63%. That puts NORW better performer ahead so far this year.

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

Year-to-date, the NORW ETF saw +$76M in flows, compared to +$413M for EWU.

Which ETF is more volatile: NORW or EWU?

Over the past year, NORW had a volatility of 15.75%, while EWU experienced 13.78%.

Which ETF is bigger: NORW or EWU?

As of May 13, 2026, NORW holds $155.47 M in assets under management (AUM), while EWU manages $3.45 B.

What sectors do the NORW and EWU ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, EWU focuses on Financials, Health Care and Energy.

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. EWU holds in its top three: ASTRAZENECA, HSBC HOLDINGS and SHELL PLC.

Which ETF is more diversified: NORW or EWU?

NORW holds 53 securities with 75.48% of its assets in the top 15. EWU has 71 securities and a top 15 weight of 64.85%.

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

An introduction to Country-Based ETFs

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